PRESS DIGEST – British business – April 11

The Daily Telegraph

UK TO TAKE ICELAND TO COURT OVER 2.3 BLN STG BAIL-OUT

Britain is preparing to take Iceland to court to demand it
repay the 2.3 billion pounds ($3.77 billion) Britain lost when
the Icelandic banking system collapsed.

EURONEXT REJECTS HOSTILE BID BY NASDAQ

NYSE Euronext (NYX.N: Quote, Profile, Research) rejected an unsolicited takeover bid
by Nasdaq OMX Group and Intercontinental Exchange, choosing to
reaffirm its plan to merge with Deutsche Boerse (DB1Gn.DE: Quote, Profile, Research).

ICB TELLS BANKS CAPITAL RESERVES MUST BE HIGHER

Britain’s banks will today be told they must increase their
capital reserves to protect savers and taxpayers from another
financial crisis under recommendations by the Independent
Commission on Banking.

The Times

BHP SEEKS TO STRENGTHEN INTERESTS IN AUSTRALIAN OIL

BHP Billiton (BHP.AX: Quote, Profile, Research) and Royal Dutch Shell (RDSa.L: Quote, Profile, Research) have
held talks over an asset swap that could see BHP take Shell’s
stake in Woodside Petroleum in return for an Asian gas field.

SPENDING SLOWS TO LOWEST IN TWO YEARS

Retail sales growth slumped to 2.4 percent in March, its
lowest level in nearly two years, according to MasterCard
Advisors’ Spending Pulse.

The Guardian

GLENCORE POISED TO PUBLISH PLANS TO FLOAT

Glencore [GLEN.UL] is expected to publish its intention to
float this week after months of speculation that the commodities
trader was close to selling part of the business.

(Summary compiled by Reuters)
($1=.6103 POUND)

PRESS DIGEST – British business – April 11