PRESS DIGEST - British business - Mar 2

The Times

SUPERJUMBO WING CRACKS RELATED TO UK DESIGN FAULT

Wing cracks that have grounded the Airbus 380 superjumbo have been identified as the fault of design engineers at the manufacturer's state-of-the-art facility in England.

The Telegraph

LORD SASSOON MOOTED AS NEXT BANK GOVERNOR

Lord Sassoon has emerged as a potential successor to Sir Mervyn King when he steps down as Governor of the Bank of England in June next year.

MEDIA GROUP EMAP FACES BREAK-UP

EMAP is considering selling off its magazines and most of its conferences, as Apax tries to salvage some of the money from its joint investment with Guardian Media Group.

The Guardian

BAE BRUSHES OFF PLEA TO SAVE 2,000 JOBS

BAE Systems, Britain's biggest defence contractor, has brushed aside a plea by UK prime minister David Cameron to save high-level manufacturing jobs and is proceeding to axe around 2,000 posts

CABLE URGES GM TO SAVE BRITISH UK FACTORY

British business secretary Vince Cable has urged General Motors bosses to make a "long-term commitment" to the companies UK plant workers UK after holding a summit with the carmaker in New York.

The Independent

LLOYDS GIVES FINANCE DIRECTOR NEW LUCRATIVE PAY DEAL

Days after the banking results season ended, Lloyds Banking Group has reignited the row over pay by hiring a finance director on a 5.9 million pound ($9.42 million) package.

WPP REVENUES REACH NEW RECORD PROFIT

WPPP, the world's biggest advertising group, on Thursday smashed profits and revenue records but sounded a warning about "clouds on the horizon".

($1 = 0.6266 British pounds) (Reporting by Stephen Mangan)