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PRESS DIGEST-British Business - Oct 11

Oct 11 - 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


US SHUTDOWN: MARKETS RALLY AS DEAL EDGES CLOSER

Stocks rallied in the US as the White House and the Republicans edged closer to a crucial breakthrough to prevent America crashing through its $16.7 trillion borrowing limit.


BLACKBERRY CO-FOUNDER MIKE LAZARIDIS CONSIDERING BUYING MOBILE PHONE MAKER

BlackBerry co-founder Mike Lazaridis has increased his stake in the struggling smartphone maker and is considering buying the entire company, according to a securities filing.



The Guardian


ROYAL MAIL SHARES: THOUSANDS FAIL IN APPLICATIONS FOR LARGER STAKE

Anyone who applied for more than 10,000 pounds of Royal Mail shares - an estimated 34,500 individuals - will be left empty-handed after the government chose to favour small investors over those who regularly play the stock market.


BT RETURNS TO MOBILE PHONE BUSINESS WITH EE DEAL

BT is back in the consumer mobile phone business after signing a partnership deal with EE under which the former national monopoly will return to wireless, more than a decade after it sold off the O2 network.

The Times


HOME-BUYING AT ITS HIGHEST FOR FIVE YEARS

Mortgage lending has bounced back to levels not seen since before the financial crisis, driven by demand from buyers with small deposits.


BOOKIES SPARED CRACKDOWN ON BETTING MACHINES

Bookmakers breathed a sigh of relief yesterday after the Department for Culture, Media and Sport said it had decided not to reduce stakes or prizes on lucrative fixed-odds betting terminals (FOBTs), where punters can stake 100 pounds per play and win a jackpot of 500 pounds.


The Independent


TORIES 'TO CUT AID GIVEN TO POOREST CUSTOMERS BY ENERGY COMPANIES'

Senior Conservative ministers are attempting to cut the amount of money energy firms have to spend helping their poorest customers reduce the cost of their bills, The Independent understands.


Sky News


ROYAL MAIL: SOVEREIGN FUNDS TO GET SHARES

A clutch of the world's most powerful sovereign wealth funds are expected to be allocated millions of pounds worth of shares in Royal Mail even as thousands of British investors are frozen out of the privatisation.


ENERGY BILLS: SSE TO RAISE TARIFFS BY 8.2 PCT

SSE has become the first of the so-called 'big six' energy firms to confirm it is raising prices ahead of winter, sparking a bitter backlash among consumer groups, politicians and regulators.