Reuters: Regulatory News: PRESS DIGEST - British Business - July 31

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PRESS DIGEST - British Business - July 31 Jul 31st 2013, 00:48 July 31 | Tue Jul 30, 2013 8:48pm EDT July 31 (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 BANK OF ENGLAND HELPED THE NAZIS TO SELL PLUNDERED GOLD The Bank of England has admitted its role in one of the most controversial episodes in its history - helping the Nazis sell gold plundered from Czechoslovakia months before the outbreak of the Second World War. () UK ECONOMY CLOSE TO 'ESCAPE VELOCITY', SAY TOP ECONOMISTS Three of the country's top economists believe Britain has turned the corner and growth will accelerate in the coming months. () BP WARNS GULF SPILL COSTS WILL EXCEED $42.4 BLN BP's bill for the Gulf of Mexico disaster is set to rise well above $42.4 billion, the oil giant warned on Tuesday, as it revealed it had just $300 million left of funds it set aside to pay compensation. () BT SPLITS BT RETAIL DIVISION TO FOCUS ON BSKYB BATTLE Gavin Patterson, the incoming chief executive of BT, will split its biggest division, BT Retail, in two as part of a restructuring to allow its consumer business to focus on intense competition from BSkyB and others. () The Guardian JPMORGAN TO PAY $410 MILLION IN PENALTIES FOR MANIPULATING ELECTRICITY PRICES U.S. energy regulators have hit JPMorgan with $410 million in penalties after accusing it of manipulating electricity prices in California and the mid-west. () The Times IT'S MY WAY OR NO RUNWAY, SAYS BORIS JOHNSON Boris Johnson set himself on course for a showdown with the government's airports commission after insisting that he will oppose any recommendations that do not involve creating a four-runway mega-hub in East London. () SAINSBURY'S LOSES BATTLE BUT HOPES TO WIN WAR OVER TESCO'S PRICE PROMISE A row over ethics and food provenance has erupted between two of Britain's largest supermarkets after the advertising regulator backed a Tesco price pledge. () INQUIRY INTO CONDUCT OF SFO'S FORMER MANAGEMENT WAS 'DELIBERATELY MISLED' A Cabinet Office inquiry into the conduct of the former management of the Serious Fraud Office may have been "deliberately misled", Whitehall officials believe. () The Independent BARCLAYS FIGHTS FCA OVER QATAR FUNDRAISING Barclays is steeling itself for imminent developments from the financial regulator over its controversial fundraising from sovereign wealth funds at the height of the financial crisis in 2008. () GKN PROFITS TAKE OFF ON BACK OF PLANE SALES A record number of new planes in production boosted profits at the engineer GKN during the first half of the year. () TOURRE WANTED TO 'FEED WALL ST GREED' SAYS SEC LAWYER Fabrice Tourre fraudulently misled investors in a bid to "feed Wall Street greed," giving them "half the truth" about a sub-prime mortgage investment that ultimately went bad when the credit crunch tore through the housing market, a lawyer for the U.S. Securities and Exchange Commission claimed. () Link this Share this Digg this Email Reprints

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