April 1, 2014 / 12:30 AM / 3 years ago

PRESS DIGEST- British Business - April 1

April 1 (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

BORIS: HEATHROW COULD OPERATE NEW HUB AIRPORT IN THAMES ESTUARY

(link.reuters.com/feb28v)

Boris Johnson is seeking to strike a compromise with Heathrow in the aviation capacity debate by offering the airport’s owners a role in developing and operating a brand new hub in the Thames Estuary.

LACK OF ‘TOO BIG TO FAIL’ PLAN COULD COST TAXPAYERS BILLIONS, WARNS IMF

(link.reuters.com/geb28v)

British banks deemed “too big to fail” are enjoying implicit government subsidies of up to $110 billion that could expose taxpayers to bail-outs costing hundreds of billions of pounds, the IMF has warned.

The Guardian

ROYAL MAIL: UNDERVALUING SHARES COSTS TAXPAYER 750 MLN STG IN ONE DAY

(link.reuters.com/jeb28v)

The public spending watchdog says the business secretary Vince Cable ploughed ahead with plans to float Royal Mail at a maximum price of 330 pence-a-share despite repeated warnings from City experts that the government had vastly undervalued the company.

EXECUTIVE BONUSES FALL FOR THIRD YEAR

(link.reuters.com/keb28v)

Bonuses for Britain’s business leaders are falling for a third year as companies feel the need to be fair to their workforces, according to consulting group PriceWaterCoopers.

The Times

Weir Group opens talks with rival over 8.5 bln stg deal

(link.reuters.com/sab28v)

It is understood that Weir Group is in talks with Metso Oyj, a Helsinki-listed company in much the same market of producing industrial pumps and valves for the global oil and gas and mining markets.

BT accused of abusing rural broadband monopoly

(link.reuters.com/neb28v)

A report by Public Accounts Committee has accused BT of exploiting its monopoly position and criticised the Government for failing to deliver “meaningful competition”.

Sky News

OSBORNE PLEDGES ‘FULL EMPLOYMENT’ FOR UK

(link.reuters.com/zab28v)

The Chancellor defined his commitment as making the country the “best place in the world to create a job, to get a job” and the place with the “highest employment rate of the world’s largest economies”.

HOME SELLERS ‘GETTING 96 PCT OF ASKING PRICE’

(link.reuters.com/beb28v)

Homeowners in Britain are now able to sell their properties on average at more than 96 percent of the asking price, according to a new survey. Hometrack said the rate is even better in some areas, and has now reached a decade-long high in London. (Compiled by Aashika Jain in Bangalore; Editing by Lisa Shumaker)

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