PRESS DIGEST – British business – Oct 26

The Daily Telegraph

DIAMOND: NEW TAXES WILL HARM RECOVERY

Barclays (BARC.L: ) President Bob Diamond has warned the
government that imposing new taxes on British banks will
“hamper” their ability to drive economic recovery.

DAVID CAMERON URGES PRIVATE SECTOR TO START INVESTING

A 200 billion pound government-backed investment programme
to improve Britain’s infrastructure has been welcomed by
businesses after the prime minister urged the private sector to
take the lead.

TELECOMS GROUP DECIDES AGAINST PHONES4U BID

Everything Everywhere has decided against a bid for Phones4U
[PHONE.UL] but sources close to the process insist there have
been five indicative offers and that candidates would be
shortlisted by the end of the week.

The Times

DELEK GROUP MULLING LONDON LISTING

Delek Group (DELKG.TA: ), the company behind Israel’s biggest
gas discovery, is considering a $400 million listing on the
London Stock Exchange.

MAIL.RU TO TAKE CHANCE ON LONDON MARKET

Mail.ru, the Russian investment company with a stake in
Facebook, expects that its proposal to list shares on the London
market will result in a valuation of up to $5.5 billion.

MCBRIDE SOUNDS ALARM OVER RISING COSTS

McBride, Europe’s biggest maker of retailer own-brand
household products, has warned of more expensive toiletries, air
freshners and cleaning products because of rising raw material
costs.

The Guardian

BP “WON’T QUIT AMERICA” DESPITE GULF SPILL

BP (BP.L: ) Chief Executive Bob Dudley said the oil firm “will
not be quitting America” in the wake of the Gulf of Mexico oil
spill that caused an environmental crisis and left 11 workers
dead.

(Summary compiled by Reuters)

PRESS DIGEST – British business – Oct 26