June 10, 2013 / 12:57 AM / 4 years ago

PRESS DIGEST - British Business - June 10

June 10 (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

LLOYDS STARTS SEARCH FOR TSB CHAIRMAN

Lloyds Banking Group has taken the first major step towards listing its 632-branch TSB unit on the London Stock Exchange by hiring head hunters to find a chairman for the business. ()

INVESTORS TRY TO SALVAGE RETURNS FROM HIBU

Shareholders in Hibu, the former Yellow Pages business, are attempting to drum up support to avoid being frozen out of a rescue deal that would leave them without any return on their worthless investment and could lead to job cuts among the 13,000 strong international work force. ()

The Guardian

OSBORNE URGED TO DISTRIBUTE RBS AND LLOYDS SHARES AMONG VOTERS

George Osborne will be urged on Monday to fire the starting gun on a sell-off of the government’s stake in Royal Bank of Scotland and Lloyds Banking Group by offering shares worth 1,650 pounds ($2,600) a person to 48 million taxpayers. ()

ROGER CARR SET TO BE NAMED BAE SYSTEMS CHAIRMAN

Roger Carr is set to be named chairman of BAE Systems , as the defence firm attempts to move on following its failed 30-billion-pound merger bid with European rival EADS . ()

The Times

CANADIANS TO PULL THE PLUG ON OFFER FOR SEVERN TRENT

With the water group’s board adamant that it would not talk to its stalker at the 22-pounds-per-share that was on the table, sources close to the takeover group indicated last night that its plans would be dropped. ()

OFWAT CALLS ON OUTSIDERS TO REVIEW WATER BILLS

A leadership crisis at the water industry regulator has prompted an unprecedented outsourcing of the upcoming multibillion-pound review of household bills to a firm of outside consultants, overseen by an inexperienced executive. ()

The Independent

RIVALS TRAIL BEHIND FAST-GROWING SAINSBURY‘S

Sainsbury’s will cement its position as the fastest-growing of the listed supermarkets this week by posting another rise in revenue. ()

ANOTHER FOREIGN-BILLIONAIRE BATTLE LOOMS IN HIGH COURT

Commerzbank AG has launched high court proceedings against the Turkish billionaire Mehmet Karamehmet in the latest international dispute to be brought to Britain. ()

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