PRESS DIGEST- British Business - Oct 23

Reuters

Oct 23 (Reuters) - The following are the top stories on thebusiness pages of British newspapers. Reuters has not verifiedthese stories and does not vouch for their accuracy.

The Telegraph

FORMER RBS INVESTMENT BANKING CHIEF JOHN HOURICAN APPOINTEDHEAD OF BANK OF CYPRUS

John Hourican, the former investment banking chief of RoyalBank of Scotland who resigned following the Liborscandal, has been appointed head of Bank of Cyprus. ()

GRANGEMOUTH DECISION LOOMS AS WAR OF WORDS BREAKS OUT

Ineos, the chemicals giant that will decide thefate of its crisis-hit Grangemouth plant on Wednesday morning,has hit back at ministers' claims that the site is not infinancial trouble and could be sold to another buyer. ()

The Guardian

ROYAL MAIL SHARES: HEDGE FUND TAKES BIGGEST PRIVATE STAKE

A hedge fund known for its aggressive investment strategyhas become the largest private shareholder in Royal Mail, re-igniting anger over Vince Cable's controversialprivatisation of the postal service. ()

FORMER CO-OP BOSS REFUSES TO TAKE BLAME FOR BANK MELTDOWN

The Co-operative Group promised a radicaloverhaul of its boardroom on Tuesday just hours after the formerboss of the grocery and funeral care business deflectedresponsibility for the crisis at its bank which has fallen underthe control of hedge funds. ()

BIG SIX ENERGY FIRMS TO FACE MPS FOLLOWING PRICE HIKES

Bosses from the big six energy firms - including BritishGas, SSE and RWE npower - have been called to giveevidence to a committee of MPs about recent price increases. Theenergy and climate change committee said other smaller energysuppliers will also appear before parliament on Oct. 29. ()

The Times

PUBLIC FLOAT IS NEXT STEP FOR AMBITIOUS BANKING MINNOW

Metro Bank is considering listing on the stock market tohelp to fund its drive to be a new force in high street banking.()

UNIVERSITIES' FUND JOINS REGISTER AT HEATHROW

Britain's second-biggest pension fund has bought an 8.65percent stake in Heathrow in a deal that puts adomesticinvestor on the airport's shareholder register for thefirst time since a Spanish takeover seven years ago. ()

RURAL AREAS WILL SUFFER MOST FROM FEE INCREASE, MOBILE GIANTWARNS OFCOM

The chief executive of Britain's largest mobile phonenetwork, Everything Everywhere, has threatened tocut investment in 4G in rural areas if a fourfold increase inannual fees comes into effect. ()

The Independent

RECKITT BENCKISER SET FOR AT LEAST 2 BLN STG IN HEROINTREATMENT SELL-OFF

Reckitt Benckiser chief executive Rakesh Kapoor hashung a

THE RECIPE FOR SUCCESS: M&S EXPANDS FOOD STORES, WITH 5,000NEW POSITIONS

Marks and Spencer is set to expand its food-onlystore portfolio dramatically by opening 150 sites over the nextthree years and creating 5,000 new jobs. ()

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