Reuters: Regulatory News: PRESS DIGEST - British Business - July 16

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PRESS DIGEST - British Business - July 16 Jul 16th 2013, 00:21 July 16 | Mon Jul 15, 2013 8:21pm EDT July 16 (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 FORMER RP MARTIN BROKERS CHARGED OVER LIBOR FIXING Two former RP Martin brokers have been charged in connection with the Serious Fraud Office investigation into the manipulation of Libor. () TAXMAN LOST 950 MLN STG IN OVERHAUL OF PAYE HM Revenue & Customs abandoned hopes of collecting more than 950 million pounds ($1.4 billion) in outstanding pay-as-you-earn tax in the run-up to the biggest reform for 70 years in the pay-as-you-earn system, the National Audit Office has disclosed. () CABLE CLAMPS DOWN ON FIRMS THAT 'OPERATE IN THE SHADOWS' Vince Cable has unveiled a planned shake-up of Britain's corporate governance rules that he said is needed to clamp down on "an errant few" companies that create complex structures "which only serve to deceive". () The Guardian GLAXOSMITHKLINE 'THE BIG BOSS' IN 300 MLN STG BRIBERY SCANDAL, CHINA SAYS China has accused GlaxoSmithKline of behaving like a criminal "godfather", bribing doctors with cash and sexual favours in return for prescribing the British pharmaceutical company's drugs. () MORE THAN 2,400 UK BANKERS PAID 1-MLN-EUROS-PLUS, EU REGULATOR SAYS The row over bankers' pay has been reignited by data showing that more than 2,400 bankers in the City were paid in excess of 1 million euros ($1.30 million) in 2011 - more than three times as many as in the rest of the European Union put together.() NETWORK RAIL OF THE ROADS REVEALED AS COALITION PLANS 28 BLN STG SPREE The coalition is taking radical action to kickstart stuttering infrastructure plans by hiving off the Highways Agency as a Network Rail-style public company and giving it a long-term funding settlement to carry out a 28 billion pound road-building spree. () The Times SUPERMARKETS GIVE THORNTONS A SUGAR RUSH Growing demand from supermarkets for Thorntons chocolate boxes has led the retailer to report strong sales growth outside of its high street stores. () BARCLAYS ORDERS COMPLAINTS HANDLERS OUT OF THE DOOR Hundreds of people employed by a Big Four accountancy firm at the centre of a storm over PPI complaints handling at Lloyds Banking Group have been told to clear their desks at Barclays, months before their contracts were due to end. () COBHAM BUYS HELICOPTER CONTRACTOR The helicopter company that trained Princes William and Harry has been bought by one of Britain's biggest defence contractors. () FUNDING FOR GROWTH FINALLY FINDS ITS WAY TO THE REGIONS The Government's flagship 3.2 billion pound growth fund will pay 2-1/2 times more to small businesses over the next year than it did in the past 12 months, the politician in charge of the scheme has claimed. () CO-OP BANK WILL HAVE TO CUT 'HUNDREDS' OF JOBS TO SURVIVE The 1.5 billion pound rescue financing of the Cooperative Bank will come at the cost of hundreds of jobs. The beleaguered bank's parent plans to announce a cost-cutting plan alongside further details of the restructuring in the autumn. () The Independent SUN IS SHINING AGAIN ON BRITAIN'S HIGH STREETS Britain's high streets are bouncing back, with the warm weather sending shoppers back to traditional shopping venues. () CBI CRITICISM: NETWORK RAIL SPEAKS OUT TO DEFEND ITSELF Network Rail has challenged claims by the Director General of the CBI, John Cridland, that the 43 billion pounds budgeted for the hugely controversial High Speed Two programme would be better spent on the West Coast Mainline. () Link this Share this Digg this Email Reprints

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