PRESS DIGEST - British business - Nov 13

Tue Nov 13, 2012 12:59am GMT

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The Times

US OFFICIALS TO INTERVIEW BANKERS OF LIBOR

At least 10 senior traders at RBS have been approached by authorities in the United States in connection with a criminal investigation into alleged manipulation of Libor.

RULE ON TRADER AND NOT BANKING, SAYS JUDGE

The jury in the trial of the alleged "rogue trader" accused of losing UBS $2.3 billion has been told it should not acquit him because of any dislike of banking.

The Telegraph

BBC BOSS WAS PAID DOUBLE TO GO QUIETLY

Lord Patten, the chairman of the BBC Trust, admitted on Tuesday that he gave the corporation's former director-general a payoff worth twice as much as he was entitled to so he would go quietly.

BANKS GIVE US EDGE IN GLOBAL RACE, SAYS PM

David Cameron on Wednesday promised to put promoting UK banks and defence companies at the heart of Britain's foreign policy.

US GIANTS 'IMMORAL' OVER TAX AVOIDANCE

Amazon, Google and Starbucks were on Tuesday accused of being "immoral" and "manipulative" and of "practising tax avoidance on an industrial scale".

The Guardian

WATCHDOG INVESTIGATES CLAIMS OF GAS FIXING

The City of London watchdog, the FSA, is investigating claims by a whistleblower that Britain's 300 billion pounds wholesale gas market has been "regularly" manipulated by some of the big power companies, exploiting weaknesses that echo the recent Libor scandal.

The Independent

US TO BECOME WORLD LEADER IN OIL AND GAS

The U.S. will become the world's biggest producer of oil and gas in the next five years as "fracking" for hydrocarbons contained in shale rocks has enabled the country to increase production massively, according to an authoritative new report.

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