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PRESS DIGEST- British Business - Sept 4

Source: Reuters - Thu, 4 Sep 2014 00:19 GMT
Author: Reuters
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Sept 4 - 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

REED ELSEVIER PAYS 120 MLN STG FOR SANCTIONS MONITOR

Reed Elsevier Plc has made its largest acquisition in three years, snapping up a French software company that monitors financial transactions to check that they are not breaching economic sanctions. (http://thetim.es/Z7ByR4)

DICKSON ON VIRGIN BOARD WITH FLOAT IN SIGHT

Olivia Dickson, a former JPMorgan banker, has joined Virgin Money <IPO-VMH.L> as a non-executive director, adding to speculation that the bank is sprucing itself up for a flotation within months. (http://thetim.es/1pnJi6x)

The Guardian

ZALANDO ONLINE FASHION GIANT VALUED AT UP TO 6 BLN EUROS IN FRANKFURT FLOAT

Zalando, Europe's biggest online fashion store, is planning to raise 500 million euros ($657.40 million) to fund expansion with a public listing on the Frankfurt stock exchange, which could value the firm at up to 6 billion euros. (http://bit.ly/1pIS2u0)

ROYAL MAIL SELL-OFF HELPS HARGREAVES LANSDOWN MAKE RECORD PROFITS

The founders of Hargreaves Lansdown Plc have reaped more than 68 million pounds in annual dividends after Royal Mail Plc's flotation boosted business at the investment company. (http://bit.ly/1pKl7W0)

The Telegraph

SCOTTISH 'YES' VOTE COULD CAUSE EUROZONE-STYLE CURRENCY CRISIS, GOLDMAN SACHS WARNS

Goldman Sachs has warned that the United Kingdom could fall into a eurozone-style crisis if Scotland votes for independence later this month. The Wall Street bank said a "Yes" vote on Sept. 18 "could have severe consequences" for both the Scottish economy and the United Kingdom overall. (http://bit.ly/1lyZZ40)

DOES BALFOUR'S SALE OF U.S. BUSINESS MEAN A CARILLION MERGER WILL NEVER HAPPEN?

Balfour Beatty Plc has sold its U.S. consultancy business Parsons Brinckerhoff for 820 million pounds, dealing a blow to a possible resurrection of Carillion Plc's 3 billion pounds merger with its British rival. (http://bit.ly/1qyXjCv)

Sky News

NPOWER ESCAPES SANCTION AS BILL PROBLEMS EASE

Energy regulator Ofgem says it will not be taking immediate action against nPower Ltd as it has met its initial targets to resolve a late-billing issue that affected customers. (http://bit.ly/1lIufdc)

ARMY PLACES 3.5 BLN STG ORDER FOR NEW ARMOURED VEHICLES WITH GENERAL DYNAMICS

The British Army is to get 589 armoured vehicles after the Ministry of Defence agreed a 3.5 billion pounds deal with U.S. defence firm General Dynamics Corp that will support 1,300 UK jobs. (http://bit.ly/1pqby8B)

The Independent

LVMH AND HERMES SETTLE FOUR-YEAR DISPUTE

French luxury groups Hermes International SCA and LVMH reached a truce in a four-year dispute that began when LVMH began accumulating a large stake in its smaller rival. (http://ind.pn/1A5HSE6)

TREASURY COMPLAINS OF BRAIN DRAIN TO BETTER-PAYING BANK AND HMRC

The Treasury's top mandarin has blamed higher salaries offered by the Bank of England and Her Majesty's Revenue and Customs for the finance department's chronic difficulties in holding on to promising employees. (http://ind.pn/1vM8pIR)

($1 = 0.7606 Euros) (Compiled by Shivam Srivastava; Editing by Lisa Shumaker)

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