Reuters: Regulatory News: PRESS DIGEST - British Business - June 6

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PRESS DIGEST - British Business - June 6 Jun 5th 2013, 23:56 June 6 | Wed Jun 5, 2013 7:56pm EDT June 6 (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 LONDON THREATENED BY PLANS TO MOVE LIBOR REGULATION TO PARIS Supervision of the scandal hit Libor interest rate could move to Paris under plans being drawn up by the European Commission, dealing a potential blow to London's financial pre-eminence. () ENRC BOARD GETS SHAREHOLDER BACKING DESPITE CRISIS Despite a plunging share price, a Serious Fraud Office investigation into alleged corruption, a stream of executive departures and a controversial low-ball takeover bid by the founders, the whole Eurasian Natural Resources Corp board was re-elected with each director backed with 97 percent of the vote, or more. () The Guardian IMF ADMITS: WE FAILED TO REALISE THE DAMAGE AUSTERITY WOULD DO TO GREECE The International Monetary Fund admitted it had failed to realise the damage austerity would do to Greece as the Washington-based organisation catalogued mistakes made during the bailout of the stricken eurozone country. () DAME CLARA FURSE SURVIVES GRILLING TO SECURE BANK OF ENGLAND ROLE Despite its reservations about Clara Furse, a former boss of the London Stock Exchange, Members of Parliament concluded she had "the professional competence and personal independence" to be a member of the Bank of England's financial policy committee. () TESCO SALES TUMBLE ON HORSEMEAT SCANDAL Tesco has been rocked by falling sales in nine of its 11 global markets, including a worse-than-expected dip in the UK as a result of the horsemeat scandal. () UK SERVICES SECTOR'S UNEXPECTED SURGE BOOSTS ECONOMY The British economy regained some of its former vibrancy in May after a bigger than expected surge in services activity showed that all major sectors are now growing for the first time in a year. () The Times BLACK DAY FOR 'BLACK BOX' FUND AT MAN GROUP One of Britain's biggest listed hedge funds admitted on Wednesday that it had been badly wrongfooted by the bond market collapse of the past few weeks. () HE'S NOT QUITE SO MONEYSUPERMARKET NOW The co-founder of MoneySupermarket.com Group has made 200 million pounds ($307.82 million) in cash after offloading almost a fifth of the price comparison website that he set up in a room in Chester two decades ago. () The Independent CO-OP DRAFTS IN 'BAD BANK' BOSS TO TACKLE ITS 1 BLN STG BLACK HOLE The Co-operative Group on Wednesday called Richard Pym, the boss of Britain's official "bad bank", to sort out its own troubled lender. () Link this Share this Digg this Email Reprints

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