PRESS DIGEST – British business – March 25

The Daily Telegraph

AVIVA LINES UP BANKS TO SELL RAC

Aviva (AV.L: Quote, Profile, Research) has appointed JP Morgan to oversee the sale of RAC, the
roadside assistance group it bought for 1.1 billion pounds ($1.78 billion) in
2005, now valued at 600-700 million pounds.

The Times

BANK OF ENGLAND WARNED OF LOSING CREDIBILITY

The Bank of England risks losing its credibility if inflation remains
consistently above its target, the bank’s chief economist, Spencer Dale, has
warned.

OSBORNE’S IMMIGRATION RULES SAID TO STIFLE EXPANSION

Britain is “shooting itself in the foot” by imposing new immigration rules
on companies that want to hire foreign workers, according to the National
Institute of Economic and Social Research.

The Guardian

BP’S RUSSIAN DEAL WITH ROSNEFT BLOCKED BY COURT

BP’s (BP.L: Quote, Profile, Research) alliance with Russian-controlled oil company Rosneft (ROSN.MM: Quote, Profile, Research)
has been blocked by a tribunal, handing a major victory to BP’s billionaire
partners in TNK-BP [TNKBP.UL].

The Daily Mail

BARCLAYS PROBED OVER ALLEGED LIBOR MANIPULATION

Barclays (BARC.L: Quote, Profile, Research) is thought to be at the centre of an investigation by U.S.
and British regulators into the alleged manipulation of LIBOR lending rates
between major banks.

(Summary compiled by Reuters)
($1=.6165 Pound)

PRESS DIGEST – British business – March 25