Reuters: Regulatory News: PRESS DIGEST - British Business - July 3

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PRESS DIGEST - British Business - July 3 Jul 3rd 2013, 00:40 July 3 | Tue Jul 2, 2013 8:40pm EDT July 3 (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 SIR PHILIP GREEN CALLS FOR OVERHAUL OF BUSINESS RATES Sir Philip Green has demanded a fundamental overhaul of Britain's business rates system to support struggling high streets. () NEW NUCLEAR PLANT COULD BE RUNNING BY 2020, ED DAVEY INSISTS Britain could have a new nuclear reactor generating by 2020, the energy secretary has said, dismissing fears the timescale for the planned Hinkley Point plant had slipped further into the next decade. () CO-OP FAILED INVESTORS, MP CLAIMS The Co-operative Group has been accused of shirking its responsibilities by letting bondholders - including thousands of pensioners - bear the cost of bailing out its stricken banking arm. () ULSTER BANK TO CUT UP TO 1,800 JOBS Ulster Bank has announced it will slash nearly a third of its workforce as part of a drive to cut costs and turn around the business. () The Guardian OCADO BOSS: 'MORE HIGH STREET SHOPS SHOULD SHUT' Tim Steiner, the boss of online grocer Ocado, has launched an attack on high street retailers who are asking the government to review business rates, saying more traditional shops needed to close and telling rivals to stop complaining. () BANK OF ENGLAND CONDEMNS LOBBYING BY BANKS AGAINST NEW RULES City regulators have brushed aside complaints by Barclays and Nationwide over tough new liquidity rules, saying UK banks would need to put them into effect as soon as possible, years ahead of an international deadline of 2018. () BANKER CONTESTS 450,000 STG FINE FOR ALLEGEDLY DISCLOSING INSIDE INFORMATION The Kurdish oil minister who allegedly received inside information from the former JPMorgan banker Ian Hannam later instructed brokers to buy up to $21 million (13.9 million pounds) of shares in Hannam's client Heritage Oil, a tribunal has heard. () The Times OSBORNE CLAIMS RIGHT TO ACT FOR TAXPAYERS ON RBS George Osborne defended his right to intervene in the running of state-owned Royal Bank of Scotland. () LLOYDS WAS WARNED ABOUT CO-OP DEAL EARLIER, MPS ARE TOLD Lloyds Banking Group will be challenged over why it told the Treasury Select Committee that the bank became aware of potential problems with the plan to sell 630 branches to the Co-operative Bank only last December. () BIG HITTER INVESTIGATES SMALL BUSINESS LENDING AT RBS Royal Bank of Scotland has called on a former deputy governor of the Bank of England to lead a review of its lending to small and medium-sized businesses. () The Independent FACEBOOK TWINS LAUNCH BITCOIN INVESTMENT FUND The Olympian twins famed for suing Mark Zuckerberg have released plans to float a trust based on digital currency Bitcoin. () PREMIER INN TO LAUNCH COMPACT 'CITY CENTRE' SPIN-OFF CHAIN No-frills hotel group Premier Inn is to launch a new compact "city centre" spin-off chain, with bedrooms that have an area of just 11.4 square metres each. () Link this Share this Digg this Email Reprints

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