Reuters: Regulatory News: PRESS DIGEST - British Business - June 4

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PRESS DIGEST - British Business - June 4 Jun 3rd 2013, 23:45 June 4 | Mon Jun 3, 2013 7:45pm EDT June 4 (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 AND RBS CUT LENDING TO UK ECONOMY BY 2.6 BLN STG IN FIRST QUARTER The Royal Bank of Scotland and Lloyds Banking Group cut lending to the economy by 2.6 billion pounds ($3.98 billion)in the first three months of the year, as the two state-backed lenders shunned a Government scheme to boost loans to small and medium sized businesses. () PRIMARK CLOTHES SOLD ONLINE THROUGH ASOS TIE-UP Primark is selling clothes on the internet for the first time after agreeing to team-up with ASOS, the online fashion retailer. () HEATHROW IS TOO EXPENSIVE, CROWDED AND ONE OF 'THE BIGGEST AIRPORT PROBLEMS', SAY AVIATION HEAVYWEIGHTS Heathrow has been branded too expensive and too crowded by leading aviation figures, with trade body IATA describing it as "one of our biggest airport problems". () The Guardian UK TRAPPED IN 'VICIOUS SPIRAL' OF FALLING WAGES AND DEPRESSED INVESTMENT The International Labour Organisation warned of the threat of rising child poverty in Britain if measures to combat unemployment are not introduced. () UK MANUFACTURING GROWS AT FASTEST RATE SINCE MARCH 2012 Britain's manufacturers enjoyed a stronger than expected rebound in business last month, fuelling hopes that the sector will boost overall economic growth this quarter. () The Times CO-OP FILLED HOLE WITH 1 BLN STG BANK LOAN The Co-operative Bank sought nearly 1 billion pounds in cheap loans from the Bank of England after it realised that there was a big hole in its balance sheet. () The Independent SEVERN TRENT SPURNS INCREASED BID Severn Trent rejected a foreign consortium's second takeover bid, this time worth 5.1 billion pounds, saying that its board had "unanimously concluded" the offer failed to "recognise its future potential". () AIRLINE PROFITS TO CLIMB AS PASSENGER NUMBERS GO SKY HIGH AT 3 BILLION-PLUS Europe's airlines are expected to double their profits this year, while carriers round the world will together post profits of $12.7 billion - more than $2 billion higher than previously expected, the industry body predicted today. () Link this Share this Digg this Email Reprints

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