Reuters: Regulatory News: PRESS DIGEST - British Business - May 1

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PRESS DIGEST - British Business - May 1 Apr 30th 2013, 22:44 Tue Apr 30, 2013 6:44pm EDT The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Telegraph: RBS FINED OVER CLAIMS IT MISLED CUSTOMERS U.S. bank regulators have ordered subsidiaries of Royal Bank of Scotland Group to pay a total of $13.9 million to resolve allegations that they misled customers with their overdraft and rewards programmes. () ASOS MANAGEMENT COULD SHARE 30 MLN STG($46.69 MILLION) BONUS Under a new long-term share incentive plan, 24 Asos managers, including Nick Robertson, chief executive, will collect a pay-out in Asos shares if they hit a series of targets by 2015. () The Guardian: GEORGE OSBORNE WARNS BANK OF ENGLAND OVER ECONOMIC RECOVERY PLANS George Osborne has warned the Bank of England that it risks derailing Britain's fragile economy if it uses tough new financial watchdog powers to clamp down too hard on the City. () CINEWORLD TAKEOVER OF PICTUREHOUSE INVESTIGATED AMID COMPETITION CONCERNS Competition authorities are to investigate Cineworld's takeover of the indie cinema chain Picturehouse over concerns the tie-up could be bad for filmgoers. () The Times: MARTIN SORRELL SUFFERS PAY CUT, BUT HE MIGHT NOT FEEL ANY PAIN Advertising and marketing giant WPP has lopped 150,000 pounds off the salary of Martin Sorrell but offered its chief executive the chance of an 11.2-million-pound payout under a controversial new long-term incentive scheme. () The Independent: CARPHONE WAREHOUSE FINALISES BREAKAWAY FROM BEST BUY WITH CUT-PRICE DEAL Carphone Warehouse delighted the City today by regaining full control of its high street business from U.S. giant Best Buy Co, paying less than half of what it received for the stake in 2008. () WHITBREAD PROMISES 12,000 NEW JOBS IN FIVE-YEAR EXPANSION FOR PREMIER INN AND COSTA COFFEE CHAINS Whitbread today cranked up expansion plans for its budget hotel chain Premier Inn in the UK and Costa Coffee globally, as the leisure group delivered annual profits ahead of City expectations. () Link this Share this Digg this Email Reprints

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