PRESS DIGEST – British business – April 4

The Daily Telegraph

PARIS ATTEMPTS TO PRISE HSBC FROM LONDON

French officials are trying to persuade HSBC (HSBA.L: Quote, Profile, Research) to
move its headquarters to Paris as the bank looks at its domicile
arrangements as part in its triennial review.

OLIGARCHS RENEW BID TO HALT BP DEAL

Four Russian oligarchs will make a renewed attempt to block
BP’s (BP.L: Quote, Profile, Research) proposed $16 billion share-swap deal with Rosneft
(ROSN.MM: Quote, Profile, Research), saying it contravened an existing shareholder
agreement.

OPHIR ENERGY PLANNING LONDON IPO

Ophir Energy, an oil company backed by Lakshmi Mittal,
Britain’s richest man, is preparing an initial public offering
in London for the second time.

BROUGHTON TO FLOAT TOTE IF HE WINS RACE

British Airways (BAY.L: Quote, Profile, Research) chairman Martin Broughton could
float Tote in an accelerated initial public offering if he wins
a 200 million pound auction for the state-controlled bookmaker.

The Times

ECB WARNED NOT TO RAISE INTEREST RATES

Accountant Ernst & Young has warned the European Central
Bank that the euro zone economy is still too weak to cope with
an interest rate rise.

BP TO RESUME DRILLING IN MEXICO

Oil group BP (BP.L: Quote, Profile, Research) was won permission to drill in the Gulf
of Mexico in July, 15 months after an explosion at the rig
killed 11 workers are emptied an estimated 4.9 million barrels
of crude oil into the sea.

The Guardian

GREEN PAPER PROPOSES A 155-POUND UNIVERSAL PENSION

Ministers are set to outline plans for a universal state
pension which they say would simplify a complex system and
provide more incentive for people to save.

(Summary compiled by Reuters)

PRESS DIGEST – British business – April 4