June 4, 2013 / 11:14 PM / in 5 years

PRESS DIGEST - British Business - June 5

June 5 (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

GOVERNMENT BRACED FOR SEPTEMBER DEADLINE ON RESOLVING FUTURE OF RBS The Government should consider a range of “radical options” for Royal Bank of Scotland, including breaking up the lender, a group of Members of Parliament and peers are likely to recommend. ()

HEATHROW TO OPEN NEW 2.5 BLN STG TERMINAL NEXT YEAR Tuesday marked the 12-month countdown to the opening of a new 2.5-billion-pound ($3.82 billion) terminal building to replace the facility opened by Queen Elizabeth II in 1955. ()

ARGOS BOSS TERRY DUDDY GIVES UP ONE THIRD OF BONUS Home Retail Chief Executive Terry Duddy was initially awarded a bonus of 993,000 pounds -- the equivalent of 118.5 percent of his salary -- but has given up 331,000 pounds and will take the remaining 662,000 pounds in shares deferred for three years. ()

The Guardian

CLARA FURSE WARNED OVER FINANCIAL POLICY COMMITTEE NOMINATION Clara Furse, a former chief executive of the London Stock Exchange, has been warned that she might not get the full backing of Members of Parliament for her nomination to the new Bank of England committee set up to look for the next bombs in the financial system. ()

GEORGE OSBORNE‘S HELP TO BUY SCHEME ‘A MORONIC POLICY’ George Osborne’s scheme to boost the housing market through state mortgage subsidies has been dubbed one of the “most stupid economic ideas” of the past 30 years by a leading City commentator. ()

The Times

ASTRAZENECA HAS ANOTHER BITTER PILL FOR INVESTORS Drugmaker AstraZeneca said that it was abandoning development of fostamatinib and returning rights to the compound to Rigel Pharmaceuticals, the original developer. It has written off $140 million of research costs. ()

HOUSEBUILDING A CORNERSTONE OF RECOVERY Output in Britain’s beleaguered construction sector grew for the first time in eight months in May on the back of a surge in housebuilding. ()

The Independent

SIR MERVYN KING SAYS HE‘S LEAVING BANK OF ENGLAND IN ‘SAFE HANDS’ Bank of England governor Mervyn King said he was leaving the institution “in safe hands” as he signed off his final annual report before being succeeded by Canadian Mark Carney. ()

NEW LOOK BOUNCES BACK INTO PROFIT Fashion retailer New Look has bounced back into profit after a turbulent year and unveiled plans for a rapid opening programme in China. ()

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