PRESS DIGEST- British Business - Oct 7

Reuters

Oct 7 - The following are the top stories on the businesspages of British newspapers. Reuters has not verified thesestories and does not vouch for their accuracy.

The Times

BIG INVESTORS POISED TO SWOOP ON 'CHEAP' ROYAL MAIL SHARES

Institutional investors are preparing to take the lion'sshare of the biggest government flotation in 20 years as RoyalMail stocks go on sale at what critics say is asubstantial discount to their real value.

REGULATOR 'DANGEROUSLY NAIVE' OVER CO-OP BANK RESCUE TALKS

The banking regulator is at risk of stoking a row betweenthe Co-operative Bank and key investors after itemerged that Andrew Bailey, chief executive of the PrudentialRegulation Authority, had direct contact with U.S. hedge fundsthat want to tear up a 1.5 billion pound deal to save thelender.

Sky News

CRUNCH TIME IN 350 MLN STG WAGON WHEELS AUCTION

More than half-a-dozen bidders have tabled offers for theowner of Wagon Wheels, the UK's second-biggest biscuitsmanufacturer.

GOLDMAN FUND WINS 720 MLN STG BATTLE FOR HASTINGS

A fund managed by Goldman Sachs will next week emerge as thebiggest shareholder in Hastings, one of Britain'sfastest-growing insurance companies, Sky News said.

The Telegraph

BANKS PUT TO THE TEST OVER CYBER SECURITY

Banks will launch the most extensive cyber threat exercisein two years next month as authorities test the preparedness ofthe financial system to survive a sustained online attack.

OPEC CHIEF BACKS OSBORNE'S FUEL DUTY FREEZE

Chancellor George Osborne gained support from the head ofthe Organisation of the Petroleum Exporting Countries (Opec)after he announced a freeze on fuel duties until 2015. Abdallael-Badri said governments increasing taxes on fuel are the mainculprits behind higher prices at the petrol pump and not theactual cost of crude oil, which Opec is often accused ofmanipulating.

The Guardian

ENERGY LOBBY INSIDERS WILL LEAD COLD WAR AGAINST LABOUR

Ed Miliband's threatened price freeze will be resisted bypeople representing the big six power companies who have beenput in key places in government.

CADBURY'S ATTEMPT TO TRADEMARK DAIRY MILK PURPLE BLOCKED

Cadbury has lost a five-year court battle to register adistinctive shade of purple as a trademark for its chocolatebars.

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