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PRESS DIGEST - British business - Sept 26
September 26, 2012 / 12:40 AM / 5 years ago

PRESS DIGEST - British business - Sept 26

The Times

RISING HOUSE PRICES GIVE LIFT TO U.S. ECONOMY

Signs of a renaissance in America’s housing market were hailed on Tuesday as prices saw the strongest annual growth in two years, helping to stoke a revival in consumer confidence.

DIAGEO IN MOVE TO RING THE CHANGES AT UNITED SPIRITS

Diageo is trying to ringfence itself from corruption charges by demanding management control for buying 500 million pounds ($812.73 million) minority stake in Vijay Mallya’s Indian drinks group United Spirits.

The Telegraph

STRIP BETTER-OFF PENSIONERS OF TAX BENEFITS, SAYS CLEGG

Better-off pensioners should be stripped of their taxpayer-funded benefits because they are difficult to justify at a time of widespread spending cuts, Nick Clegg has said.

The Guardian

CLEGG: STICK WITH ME IN TOUCH TIMES

Deputy prime minister Nick Clegg will on Wednesday say the Liberal Democrats are willing to impose several more years of spending restraint.

The Independent

SOCIAL CARE CRISIS COSTS UK OVER 5 BLN A YEAR

Britain’s fragile economy is losing more than 5 billion pounds ($8.13 billion) a year as a result of a growing crisis in social care funding aggravated by the government’s austerity measures.

RBS IS REACHING RECOVERY POINT, SAYS HESTER

The chief executive of part-nationalised Royal Bank of Scotland says it is nearing the point of becoming “recovered”, and will complete a major restructuring by next year.

OLYMPUS BOSSES PLEAD GUILTY IN FRAUD TRIAL

Former directors of scandal-struck Japanese camera maker Olympus are facing up to 10 years in jail after pleading guilty to a $1.7 billion accounting cover-up.

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