Reuters: Regulatory News: PRESS DIGEST- British Business - Nov 7

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PRESS DIGEST- British Business - Nov 7 Nov 7th 2013, 01:55 Share this Email Print Reprints Wed Nov 6, 2013 8:55pm EST Nov 7 (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 BP AND SHELL 'RIGGED BRENT OIL PRICE FOR A DECADE', TRADERS CLAIM BP Plc and Royal Dutch Shell have been accused of manipulating the Brent crude oil price for more than a decade, in allegations filed in a lawsuit in New York. () FCA ORDERS LLOYDS CURRENCY INVESTIGATION The Financial Conduct Authority has asked Lloyds Banking Group, which is 33 percent owned by the state, to conduct an internal inquiry into its currency trading business in light of claims that major banks have been involved in manipulating foreign exchange rates. () The Guardian TWITTER VALUED AT MORE THAN $14 BLN AFTER IPO SHARE PRICE IS FIXED AT $26 Twitter will be valued at more than $14 billion when the social media company starts selling its shares on Thursday. The company said it was pricing its initial public offering of 70 million shares of its common stock at $26 per share, raising $1.82 billion in new money. () BAE CLOSURE OF PORTSMOUTH SHIPYARD PROMPTS POLITICAL ROW The coalition government has been accused of sacrificing Portsmouth's 500-year-old shipbuilding tradition to save the industry in Glasgow before Scotland's independence referendum, as it unveiled plans to close BAE System's Portsmouth site, with almost 1,800 job losses in the two cities. () The Times CENTRICA SIGNS 4.4 BLN STG DEAL WITH QATAR TO SUPPLY UK GAS More British households will heat their homes using gas imported from Qatar next winter after Centrica Plc struck a 4.4-billion-pound supply deal with the Gulf state. () MINISTERS 'CONTRIBUTED TO CO-OP CALAMITY BY ENCOURAGING BANK ON RISKY ADVENTURE' Ministers from all three main parties encouraged Co-operative Bank to embark on adventures that contributed to its calamitous near-collapse, Parliament was told on Wednesday. () The Independent HOUSING AND UTILITY BILLS TO SWALLOW A THIRD OF INCOMES Rising utility bills and soaring rents have ignited a fire under our politicians as they scramble to demonstrate they have a credible plan to ease the pressure on household budgets. A report forecasts the two areas could swallow up a full 30 percent of budgets by the end of the next decade. () BERNIE ECCLESTONE STEALS A YARD IN LEGAL VALUATION BATTLE Bernie Ecclestone has scored an early victory in a legal battle about the value of Formula 1 as the claim against him as been reduced by $30 million to $140.4 million. Link this Share this Digg this Email Reprints

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