PRESS DIGEST- British Business - Feb 13

February 13, 2014

Feb 13 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


The Telegraph


RBS WARNED OF CREDIT RATING 'DOWNGRADE'

Royal Bank of Scotland has been warned by one of the world's main ratings agencies that its credit is at risk of being downgraded following the surprise revelation last month of weaker than expected capital levels.

Moody's said it had put RBS's debt "on review for downgrade" pointing to the taxpayer-backed lender's "weaker than previously anticipated regulatory capital position". ()

The Guardian

BANK OF ENGLAND TO KEEP INTEREST RATES AT 0.5 PCT FOR AT LEAST ANOTHER YEAR

The Bank of England has signalled it will keep interest rates on hold at the historic low of 0.5 percent for at least another year, despite forecasting strong growth of 3.4 percent in 2014. ()


SCOTTISH INDEPENDENCE: RBS BOSS PLAYS DOWN REPORTS OF LONDON MOVE

The chief executive of Royal Bank of Scotland, Ross McEwan, has made it clear the bank will adapt its business for an independent Scotland. ()


TWO HELD IN ROLLS-ROYCE BRIBERY INQUIRY

Britain's Serious Fraud Office has arrested two people and raided five homes as part of its investigation into alleged bribery and corruption at the engineering group Rolls-Royce . ()

VODAFONE'S $2 BLN INDIAN TAX BILL ROW: PEACE TALKS ABOUT TO BREAK DOWN

India plans to pull out of talks with Vodafone over a $2 billion tax dispute, in a move that will prolong a row that is already more than six-years old and increase uncertainty among investors in Asia's third-largest economy. ()


STRUGGLING MORRISONS LINKED TO PRIVATE EQUITY BUYOUT

The pressure on Morrisons Chief Executive Dalton Philips and Chairman Ian Gibson intensified on Wednesday amid rumours that the Bradford-based supermarket could be subject to a bid. ()


The Times


RECKITT SEEKS A CURE FOR HEALTH TROUBLES AS PERFECT RECORD ENDS

A faultless 15-year record of profit growth at Reckitt Benckiser was shattered yesterday when the household products empire revealed that it had been hit by weak emerging markets and a slump in American sales of drug addiction treatments. ()


MAURITANIA COMES UP DRY AS TULLOW DISAPPOINTS YET AGAIN

Long-suffering investors in Tullow Oil were urged to "be realistic" yesterday after the explorer revealed that another of its wells had come up dry. ()

DX REPEATS CHALLENGE TO ROYAL MAIL

One of a clutch of delivery companies to have made bold claims that it would profit from the decline in Royal Mail is set to be floated on the stock market - for the second time in ten years.

DX Group is expected to say today that it plans to raise £170 million on AIM in an initial public offering that would value the company at up to 180 million pounds ($298.53 million). ()


The Independent


H&M TO OPEN FIRST STORE IN INDIA IN A BID CATCH UP WITH RIVAL INDITEX

H&M will open its first store in India this year as the world's second-biggest fashion retailer becomes the latest to take advantage of the opening of its economy to foreign operators. ()