PRESS DIGEST – British business – Dec 6

The Times

FRENCH TAKE 800 MLN STG AIM AT TROUBLED BANKNOTE PRINTER

De La Rue (DLAR.L: ), the struggling British company that
prints sterling banknotes for the Bank of England was fighting
off an 800 million pound ($1.26 billion) -plus takeover approach
from a French rival over the weekend.

FEE TO HELP BANKS WAS SET TOO LOW, AUDIT OFFICE SAYS

The British government will be criticised for not charging
Lloyds (LLOY.L: ) and Royal Bank of Scotland [ABNNV.UL] a high
enough fee for the giant insurance scheme for their toxic loans.

The Daily Telegraph

ALLIED IRISH INVESTORS THREATEN TO SUE DUBLIN

Bondholders in Allied Irish Bank (ALBK.I: ) are preparing to
sue the Irish government over losses they expect to be forced to
take, in a move that may imperil attempts by the state to raise
fresh funds next year.

STRONG EUROZONE COULD MARGINALISE BRITAIN, KING SAYS

Bank of England Governor Mervyn King believes that Britain
could be marginalised as a force in Europe if the euro zone
moves towards political union in the wake of the continent’s
debt crisis.

The Independent

THE HUT STARTS BUYING SPREE AHEAD OF NEXT YEAR’S FLOTATION

Online retailer The Hut Group is targeting a potential
flotation in the spring after completing the latest in a series
of acquisitions last week.

TAX CLAMPDOWN COULD NET 2 BLN STG FOR TREASURY

The British government will publish plans to close
corporation tax loopholes today, which could help raise an extra
2 billion pounds for the exchequer over the next five years.

The Guardian

COLD SNAP CHILLS RETAILERS’ BOTTOM LINES

Britain’s poor weather conditions cost UK retailers millions
of pounds in lost sales last week as the most important shopping
weeks of the year got under way.

(Summary compiled by Reuters)
($1=.6244 Pound)

PRESS DIGEST – British business – Dec 6