PRESS DIGEST- British Business - Oct 17

Reuters

Oct 17 - 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 Telegraph

US DEBT CEILING CRISIS - BUSINESS NEWS AND MARKETS: LIVE

U.S. Senate strikes deal to raise the country's debt limitand reopen government, though vote to ratify plans not expecteduntil "after dinner," according to a Republican spokesman.

PETER VOSER: CHEAP SHALE GAS IS A MYTH

Shale gas will not change energy pricing structures acrossthe world, according to the chief executive of Shell.

The Guardian

FINANCIAL CONDUCT AUTHORITY LAUNCHES CURRENCY MARKETSINVESTIGATION

Suspicion that the vast global currency markets may havebeen rigged by major banks and traders has sparked the Cityregulator, the Financial Conduct Authority, to launch a formalinvestigation into the £3tn a day market.

M&S NEEDS ONLINE FOOD DELIVERY, SAYS FORMER BOSS

Marks & Spencer must look seriously at offering a fullonline food service, says its former boss Stuart Rose, chairmanof Internet grocery group Ocado.

The Times

ROYAL MAIL STAFF VOTE TO WALK OUT ON NOVEMBER 4

Royal Mail is set to be shut down on the firstMonday in November as sorting office and delivery workers votedby nearly four to one for an all-out one day strike.

APPLE PARES BACK ON IPHONE 5C PRODUCTION

Apple's push downmarket with its lower-cost iPhone5C has yet to bear fruit after reports emerged that it hasslashed production of the new model.

Sky News

MP WARNS CABLE OVER ROYAL MAIL BANK JACKPOT

Vince Cable, the Business Secretary, is under pressure tocancel millions of pounds of fees to the investment banks whichoversaw the privatisation of Royal Mail.

FUEL RISK AS GRANGEMOUTH CRISIS DEEPENS

The Grangemouth oil refinery is to be closed for at least aweek, threatening fuel supplies in Scotland, as its ownercomplains of financial damage from a threatened strike.

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