Reuters: Regulatory News: PRESS DIGEST- British Business - Sept 20

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PRESS DIGEST- British Business - Sept 20 Sep 20th 2013, 01:12 Sept 20 | Thu Sep 19, 2013 9:12pm EDT Sept 20 (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 NOKIA CHIEF STEPHEN ELOP TO GET $25 MLN AFTER MICROSOFT DEAL Stephen Elop, who left Microsoft to become chief executive of Nokia three years ago, will receive around $25.5 million if Microsoft closes its $7.2 billion deal to buy the Finnish mobile firm as expected. () ROLLS-ROYCE WINS $1.5 BLN ENGINE CONTRACT AS LUFTHANSA BUYS 59 PLANES British engine maker Rolls-Royce has won a $1.5 billion order from Lufthansa as part of a major fleet renewal programme that will see the German airline buy 59 Boeing and Airbus jets. ASOS BEATS EXPECTATIONS WITH 47 PCT RISE IN SUMMER SALES ASOS, the online fashion retailer, has smashed expectations for its summer sales with a 47 percent rise over the last three months. The company, founded in 2000, is worth 4.3 billion pounds ($6.91 billion) after a doubling of its share price in the last year. () BANKS TO BLOCK INTERNET PORN SITES Websites which fail to stop children accessing pornography will have payments to them blocked by banks and credit card companies as part of a government plan to help clean up the internet. () The Guardian WHALE OF A FINE: AFTER BLOWING $6 BLN, JP MORGAN'S TRADER COSTS ANOTHER $920 MLN JPMorgan Chase on Thursday agreed to pay some $920 million in penalties to U.S. and UK regulators over the "unsafe and unsound practices" that had allowed the bank's London Whale losses to balloon to $6.2 billion. () BP STRIKES AZERBAIJAN GAS SALES DEAL BP is at the centre of one of the world's biggest gas sales agreements, worth up to $100 billion over 25 years, after signing a deal to supply energy from a Caspian Sea project that could reduce Europe's reliance on Russian fossil fuels. () The Times NEW VIRGIN MEDIA OWNER ORDERS STAFF CLEAROUT Virgin Media intends to cut up to 600 senior posts as its new American owner moves to streamline Sir Richard Branson's old cable company. () The Independent VODAFONE'S MILLIONAIRE BANKER, SIMON WARSHAW, QUITS UBS One of the best-paid bankers in Britain quit UBS last night just weeks after fuelling his bonus by advising on Vodafone's $130 billion sale of its Verizon division. () VIVIENNE WESTWOOD LOOKS ABROAD AS PROFITS LEAP The grande dame of British fashion has produced a bumper 5 million pound profit as the Vivienne Westwood brand focuses on opening shops and expanding overseas. () Link this Share this Digg this Email Reprints

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