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

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PRESS DIGEST-British Business - Sept 4 Sep 4th 2013, 01:00 Sept 4 | Tue Sep 3, 2013 9:00pm EDT Sept 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 CUADRILLA ADMITS BALCOMBE PLANNING APPLICATION 'LEGALLY AMBIGIOUS' Cuadrilla's attempts to drill for oil in West Sussex have suffered a fresh setback after it was forced to re-apply for planning permission, admitting its current application may not comply with regulations. () FCA SET TO UNVEIL SWAPS SCANDAL FIGURES The Financial Conduct Authority (FCA) is expected to publish figures showing that thousands of small businesses are on the cusp of receiving billions of pounds in redress from lenders, including Barclays Plc, Lloyds Banking Group, and Royal Bank of Scotland. () The Guardian MICROSOFT BUYS NOKIA HANDSET BUSINESS FOR 5.4BN Microsoft Corp is to acquire Nokia's mobile phone arm in a swansong deal for the software giant's long-serving chief executive, Steve Ballmer, delivering Europe's last big handset maker into American ownership for 5.44 billion euros ($7.2 billion). () SOUTH AFRICAN GOLD MINERS STRIKE OVER 'SLAVE WAGES IN WHITE MAN'S ECONOMY' About 80,000 gold miners in South Africa walked out on strike on Tuesday night, raising fears of renewed violence in the crisis-hit industry and underlining the government's dwindling authority. () The Times BRITISH GROWTH 'TO OUTPACE US, JAPAN AND EURO GIANTS' The Organisation for Economic Co-operation and Development (OECD) said that Britain will expand at a more rapid pace than the United States, Japan and the big eurozone economies in the final two quarters of 2013, raising hopes that the country is finally shaking off the legacy of the financial crash. () WE'RE NOT PUSHING PEOPLE OVER THE EDGE, INSISTS WONGA AS PROFITS SOAR The chief executive of Wonga robustly defended his business on Tuesday as it revealed that more than a thousand customers a week were defaulting on their payday loans. This was more than offset by rising revenues from its growing army of 1 million customers, which pushed pre-tax profits up 35 percent to 84.5 million pounds. () The Independent SPIRENT SHARES ON RISE AS BOSS PAID $1.5 MLN LEAVES Spirent Communications's chief executive Bill Burns had a bad day on Tuesday: he lost his job at the helm of the testing company and saw its shares rise 5 percent. () GLAXOSMITHKLINE FACES NEW CHINA BRIBES ANGER GlaxoSmithKline Plc's problems in China deepened as state media reported police claims that the Chinese arm of Britain's biggest drugmaker co-ordinated an alleged 321-million-pound bribery scandal. Link this Share this Digg this Email Reprints

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