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PRESS DIGEST - British Business - July 26

Source: Reuters - Fri, 26 Jul 2013 00:59 GMT
Author: Reuters
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July 26 (Reuters) - The following are the top stories on thebusiness pages of British newspapers. Reuters has not verifiedthese stories and does not vouch for their accuracy.

The Telegraph

BT CHIEFS ATTACK 'FARCICAL' HEARING BY MPS

BT Group Plc bosses have savaged the Public AccountsCommittee as "farcical" and publicity-seeking over its hearingon the government's rural broadband subsidy programme.

()

UNITED STATES CHARGES SAC CAPITAL WITH INSIDER TRADING

SAC Capital, the hedge fund run by billionaire Steve Cohen,has been charged with "pervasive" and "substantial" insidertrading by the U.S. Justice Department.

()

The Guardian

CHURCH OF ENGLAND HOLDS STAKE IN WONGA FINANCIAL BACKER

The archbishop of Canterbury was forced to admit on Thursdaythat the Church of England holds a more than 1 million pound($1.53 million) investment in one of the main financial backersof Wonga, the payday lender the Most Rev Justin Welby hadpromised to compete "out of existence".

()

GLAXOSMITHKLINE REPLACES HEAD OF CHINESE OPERATIONS

GlaxoSmithKline Plc said that the head of itsChinese operations, Mark Reilly, who left China for Londonbefore the police arrested four of his senior subordinates, hasbeen replaced by Hervé Gisserot, the drug company's vicepresident for Europe.

()

The Times

ECONOMY 'ON THE MEND' AS RECOVERY GATHERS PACE

George Osborne declared on Thursday that the economy was "onthe mend" after official figures found that growth doubled inthe three months to June 30.

()

TRAVIS PERKINS SPURRED BY PROPERTY SCHEMES

The government's multiple shots-in-the-arm for thehousebuilding market plus the vagaries of the British weatherhave prompted a surge in business at Travis Perkins Plc.

()

The Independent

SHARES LEFT WORTHLESS AS LENDERS SEIZE DEBT-LADEN YELLOWPAGES

Thousands of small shareholders in Yellow Pages' owner HibuPlc were left to count the cost of its 2.3 billionpound collapse as the company was handed over to lenders in adebt-for-equity swap on Thursday.

()

DAIMLER TAKES A STAKE IN ASTON MARTIN

Aston Martin on Thursday announced a deal that will see the100-year-old company, which is battling to stop falling sales,use high-performance engines from Daimler's Mercedes-AMG division on its next generation of sports cars.

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