March 1, 2012 / 2:51 AM / 6 years ago

PRESS DIGEST - British business - Mar 1

The Times

JAMES MURDOCH RESIGNS AS NI CHIEF

James Murdoch resigned on Wednesday as the executive chairman of News International, the British arm of News Corporation, and will focus instead on the parent company’s more profitable businesses.

The Telegraph

SHAREHOLDER WARNS MURDOCH WILL LOSE BSKYB POSITION

One of BSkyB’s biggest investors has warned that James Murdoch’s exit from News International suggests he will soon lose his position as chairman of the pay-TV broadcaster.

BANKS AN OBSTACLE TO LENDING, SAYS BOE‘S KING

The Governor of the Bank of England Mervyn King has accused Britain’s banks of trying to profit at the taxpayer’s expense by rigging the finance ministry’s attempts to boost small business lending.

GAME GROUP UNDER PRESSURE AS RETAILER PULLS SUPPLY

Game Group’s future looked shaky after one of its most important suppliers, Electronic Arts (EA), stopped distributing its video games to the retailer.

TAX RATE IS DELAYING UK RECOVERY, SAY BUSINESSES

The 50 pence higher rate of income tax is “damaging the economy” and delaying the recovery from recession, more than 500 entrepreneurs and business owners warn on Thursday.

The Guardian

BRITISH BANK CHIEF WARNS AGAINST QE

Peter Sands, the chief executive of Standard Chartered bank has warned that the huge sums of money being pumped into western economies to underpin banks and promote financial stability risk “laying the seeds for the next crisis”.

The Independent

UK BANKS SNAP UP BILLIONS IN ECB LOANS

British banks joined the queue for hundreds of billions in cheap three-year loans from the European Central Bank on Wednesday as its funding lifeline for the region’s financial institutions surged past the 1 trillion euro ($1.34 trillion)mark.

$1 = 0.6260 British pounds Reporting by Stephen Mangan

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