PRESS DIGEST – British business – Nov 8

The Daily Telegraph

UK’S CABLE TO INTERVENE IN DIAGEO’S CHINA MOVE

Business Secretary Vince Cable said he will intervene on
behalf of drinks group Diageo to smooth its 700 million pound
acquisition of China’s Shui Jing Fang.

E.ON PREPARES FOR 3.5 BLN SELL-OFF

German utility group E.ON (EONGn.DE: ) is in advanced talks to
sell Britain’s second-largest electricity distribution network
for up to 2.5 billion pounds.

TESCO IN BID FOR CARREFOUR STORES

UK retailer Tesco (TSCO.L: ) has reportedly submitted a second
round bid in the $1 billion auction of Asian shops being sold by
French retailer Carrefour (CARR.PA: ).

WHISTLEBLOWER ACCUSES BANKS OF U.S. SCAM

HSBC (HSBA.L: ) and JP Morgan (JPM.N: ) have been accused of
“intentionally and unlawfully” supressing the price of silver
futures traded on New York’s Comex stock exchange after a
Goldman Sachs employee in London blew the whistle.

The Times

DELOITTE PREPARES RECRUITMENT DRIVE

Deloitte is planning an assault on the top end of Britain’s
consulting market by hiring almost 200 new strategy advisers
over the next three years.

M&S NEW BOSS TO OUTLINE VISION FOR FUTURE

Marks & Spencer (MKS.L: ) is expected to underline the buoyant
mood on the high street with much improved half-year profits
while its new boss Marc Bolland lays out his ideas for the
future.

The Guardian

SERCO ADMITS TWO SUPPLIES GAVE IN TO REBATE DEMANS

Serco (SRP.L: ), one of the government’s biggest contractor
firms, has admitted that two of its biggest suppliers gave in to
aggressive pressure for rebates within days of receiving its
demand for the return of past payments.

(Summary compiled by Reuters)

PRESS DIGEST – British business – Nov 8