Reuters: Regulatory News: PRESS DIGEST - British Business - May 29

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PRESS DIGEST - British Business - May 29 May 29th 2013, 00:54 Tue May 28, 2013 8:54pm EDT May 29 (Reuters) - 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 LLOYDS 'TO SELL $8.7 BLN U.S. MORTGAGE BONDS' Lloyds Banking Group, which is 39 percent owned by the Government, has reportedly put $8.7 billion of U.S. mortgage bonds up for auction, as part of its effort to raise capital by selling non-core assets. () PARTNERSHIP ASSURANCE TO FLOAT 'AT UP TO 1.6 BLN STG' Life insurer Partnership Assurance plans to float in London at between 325 pence and 400 pence a share, valuing the company at up to 1.6 billion pounds. () SALES FIZZ UP AT IRN-BRU MAKER AG BARR AG Barr, the colourful soft drinks company behind Irn-Bru, has shrugged off the drab spring weather to grow revenue 2.4 percent since the end of January, as it waits for competition authorities to rule on a potential tie-up with Britvic. () The Guardian WALMART PLEADS GUILTY TO DUMPING HAZARDOUS WASTE IN CALIFORNIA Wal-mart Stores Inc, which has endured a year of bad publicity around its US labour relations and working conditions in its overseas supply chain, on Tuesday pleaded guilty to dumping hazardous waste in numerous sites in California. The retail giant will now pay a fine of $81 million to settle misdemeanour charges around the issue. () 'BIG FOUR' BANKS CUT 189,000 JOBS WORLDWIDE IN FIVE YEARS Figures compiled by Bloomberg show that Royal Bank of Scotland, Lloyds Banking Group, Barclays and HSBC will have cut their global headcount by 24 percent to a nine-year low of 606,000, compared with their pre-crisis peak of 795,000 in 2008. () The Times IT'S PARTY TIME: AMERICA IS GRIPPED BY WAVE OF OPTIMISM Surging U.S. house prices and the strongest consumer optimism since the Lehman Brothers crash helped to drive stock prices to fresh records on Tuesday as America's economy continues to weather the harsh fiscal clampdown. () UNITED STATES CLOSES 'BANK OF CHOICE FOR CRIMINALS' Law enforcement authorities have shut down Liberty Reserve claiming that it was the "bank of choice for the criminal underworld" and had been involved in laundering more than $6 billion since 2006. () OBESITY DRUGS FIRM SWELLS AFTER BEING SWALLOWED BY ASTRAZENECA The rise in obesity around the world has prompted AstraZeneca to buy an American pharmaceutical company that specialises in diseases associated with the condition. () The Independent NEWS CORP UNVEILS LOGO THAT PAYS HOMAGE TO MURDOCHS The news-based News Corp business that will encompass the existing conglomerate's publishing interests when it splits into two at the end of June will adopt a logo based on the handwriting of Rupert Murdoch and his father, Keith. () EMBATTLED DWELL EYES SALE OF THE FURNITURE CHAIN The upmarket furniture retailer Dwell is working with advisers to explore its options, including a possible sale of the business. () DATA REVEALS TOP FOUR AUDITORS ARE IMPROVING The proposed regulatory clampdown of the "big four" accountants' dominance over the listed audit market was undermined yesterday with findings that suggest a massive improvement in the quality of their work. Link this Share this Digg this Email Reprints

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