October 23, 2013 / 12:27 AM / 4 years ago

PRESS DIGEST- British Business - Oct 23

Oct 23 (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

FORMER RBS INVESTMENT BANKING CHIEF JOHN HOURICAN APPOINTED HEAD OF BANK OF CYPRUS

John Hourican, the former investment banking chief of Royal Bank of Scotland who resigned following the Libor scandal, has been appointed head of Bank of Cyprus. ()

GRANGEMOUTH DECISION LOOMS AS WAR OF WORDS BREAKS OUT

Ineos, the chemicals giant that will decide the fate of its crisis-hit Grangemouth plant on Wednesday morning, has hit back at ministers’ claims that the site is not in financial trouble and could be sold to another buyer. ()

The Guardian

ROYAL MAIL SHARES: HEDGE FUND TAKES BIGGEST PRIVATE STAKE

A hedge fund known for its aggressive investment strategy has become the largest private shareholder in Royal Mail , re-igniting anger over Vince Cable’s controversial privatisation of the postal service. ()

FORMER CO-OP BOSS REFUSES TO TAKE BLAME FOR BANK MELTDOWN

The Co-operative Group promised a radical overhaul of its boardroom on Tuesday just hours after the former boss of the grocery and funeral care business deflected responsibility for the crisis at its bank which has fallen under the control of hedge funds. ()

BIG SIX ENERGY FIRMS TO FACE MPS FOLLOWING PRICE HIKES

Bosses from the big six energy firms - including British Gas, SSE and RWE npower - have been called to give evidence to a committee of MPs about recent price increases. The energy and climate change committee said other smaller energy suppliers will also appear before parliament on Oct. 29. ()

The Times

PUBLIC FLOAT IS NEXT STEP FOR AMBITIOUS BANKING MINNOW

Metro Bank is considering listing on the stock market to help to fund its drive to be a new force in high street banking. ()

UNIVERSITIES’ FUND JOINS REGISTER AT HEATHROW

Britain’s second-biggest pension fund has bought an 8.65 percent stake in Heathrow in a deal that puts a domesticinvestor on the airport’s shareholder register for the first time since a Spanish takeover seven years ago. ()

RURAL AREAS WILL SUFFER MOST FROM FEE INCREASE, MOBILE GIANT WARNS OFCOM

The chief executive of Britain’s largest mobile phone network, Everything Everywhere, has threatened to cut investment in 4G in rural areas if a fourfold increase in annual fees comes into effect. ()

The Independent

RECKITT BENCKISER SET FOR AT LEAST 2 BLN STG IN HEROIN TREATMENT SELL-OFF

Reckitt Benckiser chief executive Rakesh Kapoor has hung a

THE RECIPE FOR SUCCESS: M&S EXPANDS FOOD STORES, WITH 5,000 NEW POSITIONS

Marks and Spencer is set to expand its food-only store portfolio dramatically by opening 150 sites over the next three years and creating 5,000 new jobs. ()

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