Reuters: Regulatory News: PRESS DIGEST- British Business - Oct 21

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PRESS DIGEST- British Business - Oct 21 Oct 21st 2013, 00:48 Share this Email Print Reprints Sun Oct 20, 2013 8:48pm EDT Oct 21 (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 JPMORGAN AGREES $13 BLN SETTLEMENT WITH US JUSTICE DEPARTMENT JP Morgan, America's biggest bank, has reached a $13 billion deal with U.S. regulators to settle claims that it mis-sold bundles of toxic mortgage debt to investors in the build up to the financial crisis. () LLOYDS GAVE 10 MLN STG LOAN TO FORMULA ONE'S WORST PERFORMER BEFORE SALE Taxpayer-owned Lloyds Banking Group gave a 10 million pound ($16.19 million) loan to Formula One's worst-performing team, Marussia, before selling its stake, according to recently released documents. () BLOW FOR M&S AS ANOTHER SENIOR EXEC DEPARTS Gillian Whittle, the recently promoted development and buying director, will join the Australian retail group Target , adding to the pressure on Marks and Spencer Group Chief Executive Marc Bolland. Analysts expect a drop in sales this quarter. () The Guardian VODAFONE BOSSES TO COLLECT 56 MLN STG WINDFALL AFTER SALE OF VERIZON WIRELESS Vodafone's senior team will collect a 56 million pound windfall when the mobile operator completes the sale of its Verizon Wireless subsidiary next year. The company has disclosed that its full senior team, about 250 people, has accumulated a total of 50 million Vodafone shares. The deal will see them collect 16 million pounds in cash plus 40 million pounds worth of Verizon shares. () GRANGEMOUTH OIL REFINERY 'FACES PERMANENT CLOSURE' The owner of Scotland's largest oil refinery has warned he is not bluffing about threats to close the site permanently this week if 1,300 staff do not agree to pensions cuts. () The Times EISAI'S GOVERNMENT HEALTH WARNING Eisai, a Japanese drugs company that develops medicines for Alzheimer's disease, cancer and gastro-intestinal illnesses, has invested more than 100 million pounds in the UK since 2006. However, it has told Jeremy Hunt, the health secretary, that future investment will dry up unless Britain takes a more proactive approach in adopting new medicines. () BORIS JOHNSON BANGS THE DRUM AS TWIN VISITS BREAK THE ICE BETWEEN BRITAIN AND CHINA A separate free-trade agreement with China should be forged by the government if the European Union's leaders fail to "pull their fingers out" and negotiate a deal on behalf of the bloc, London Mayor Boris Johnson has told a business conference in Hong Kong. () The Independent MOD STAFF 'NOT PROPERLY CONSULTED' OVER SEMI-PRIVATISATION PLAN The 16,500 staff in the British Ministry of Defence division that buys army guns and RAF helicopters were "not properly consulted" on plans to semi-privatise the agency, union leaders told The Independent on Sunday. () MERLIN HOPES TO CONJURE MORE MARKET MAGIC In the wake of the massive demand for Royal Mail's 3.3 billion pound flotation, next off the blocks could be the Madame Tussauds and Legoland owner Merlin Entertainments. () Link this Share this Digg this Email Reprints

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