January 25, 2013 / 2:41 AM / 5 years ago

PRESS DIGEST - British Business - Jan 25

LONDON, Jan 25 (Reuters) - The Times

SOARING RANGE ROVER EVOQUE SALES HIT BOTTOM LINE Strong sales of the Range Rover Evoque have not translated into higher profits for Tata Motors, the Indian owner of Britain’s Jaguar Land Rover, because its margins are slimmer than on other Range Rover models.

NOKIA ABANDONS DIVIDEND TO FUND GROWTH PUSH Mobile phone maker Nokia has suspended its dividend for the first time in its recorded history. It said the move would give it increased flexibility as it attempts to increase its share of the smartphone market.

The Daily Telegraph

TOP BARCLAYS EXECUTIVES NAMED IN LIBOR PROBE Top executives at Barclays, including investment banking chief Rich Ricci and finance director Chris Lucas, were revealed to be on a shortlist of names passed to regulators investigating the Libor rate-fixing scandal. The names were released after a judge dismissed an attempt to secure anonymity.

GREGGS LANDS PUNCH TAVERNS CHIEF WHITESIDE Bakery chain Greggs has poached Roger Whiteside from Punch Taverns to be its new chief executive. The news of Whiteside’s departure sent Punch’s shares down almost 7 percent in early trading on Thursday, as he leaves in the midst of talks to restructure the group’s 2.4 billion pounds of securitised debt.

CAMERON LAUNCHES BROADSIDE AT TAX AVOIDERS David Cameron said Britain would use its G8 leadership to clamp down on tax avoidance by multinational companies as part of a drive to improve trade and boost competitiveness.

The Independent CHANNEL TUNNEL RAIL OWNERS LAUNCH REFINANCING The owner of the Channel Tunnel rail link, a consortium of Borealis Infrastructure and Ontario Teachers’ Pension Plan, will launch a restructuring of its 1.5 billion pound debt mountain on Friday, to take advantage of low repayment rates in the corporate market, the newspaper said.

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