September 18, 2014 / 12:16 AM / 3 years ago

PRESS DIGEST- British Business - Sept 18

Sept 18 (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 Times

ED BRAMSON UNLEASHES BROADSIDE AT ELECTRA TRUST AND ITS BOARD Ed Bramson, the corporate raider laying siege to the 1.1 billion pounds ($1.79 billion) Electra Private Equity investment trust, has broken his silence to accuse the company of a string of shortcomings. Bramson, whose Sherborne Investors (Guernsey) B group began to build a stake in Electra in February, accused the company of flattering its investment performance, botching its balance sheet management and paying excessive fees to its external fund manager. (

BSKYB OFFER TOO LOW, SAYS SKY DEUTSCHLAND The board of Sky Deutschland has recommended that minority shareholders vote against BSkyB's offer to buy a controlling stake in the German pay TV operator, claiming that the 6.75 pounds per share offer is too low. Sky Deutschland's board said that BSkyB's offer, at a 40 cent premium to the share price before the deal was revealed, undervalues the company. However, they did not object to the rationale for the deal, saying that the companies "ideally complement each other". (

The Guardian EUROZONE INFLATION HIGHER THAN ESTIMATED Inflation across the euro currency area was higher than previously estimated in August, according to revised data from the EU's statistics office. Consumer inflation across the 18 countries using the euro rose 0.1 percent month-on-month in August to give a 0.4 percent year-on-year increase, Eurostat said, following a first estimate of 0.3 percent last month. ( UK UNEMPLOYMENT RATE FALLS TO LOWEST LEVEL SINCE 2008 FINANCIAL CRISIS The City is ruling out a rise in interest rates this year amid evidence that a fresh fall in unemployment to its lowest levels since the height of the financial crisis has failed to reignite pay growth. Data from the Office for National Statistics showed that joblessness on the internationally agreed yardstick was 468,000 lower in the three months to July than in the same quarter of 2013 - the biggest annual decline since the Lawson boom was raging in 1988. (

The Telegraph EUROPEAN COURT ADDS HUNDREDS OF MILLIONS TO UK BANK TAXES Banks operating in the UK face extra tax payments worth hundreds of millions of pounds under rules enforced by Europe's top court. The European Court of Justice dictated on Wednesday that VAT must be charged on services provided to companies by their overseas offices. (

SALMOND'S OIL BOOM CLAIMS BLOWN APART BY SCOTTISH ENERGY CONSULTANT Scottish First Minister Alex Salmond's claim that an independent Scotland could expect 1.5 trillion pounds ($2.44 trillion) of revenue from the North Sea's remaining oil and gas reserves have been shot down in the final hours of the referendum campaign by one of Scotland's most respected energy consultants. (

Sky News


Scottish National Party leader Alex Salmond has insisted an independent Scotland could not be prevented from using the pound. Salmond reiterated his desire to hold on to sterling, saying: "It's sensible - England is our biggest trading partner, and Scotland is England's second-biggest trading partner after the US. There will be a common sense agreement for a common currency." (

The Independent

SCOTTISH INDEPENDENCE: BANK OF ENGLAND 'MUST BE ON ALERT FOR NORTHERN ROCK STYLE DEPOSIT FLIGHT IF YES WINS' The Bank of England will need to be on guard against a possible "deposit flight" from Scotland similar to Northern Rock after tomorrow's referendum vote, John Gieve, deputy governor for financial stability of Bank of England said. (

1 US dollar = 0.6151 British pound Compiled by Rama Venkat Raman in Bangalore

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