May 30, 2013 / 2:07 AM / 4 years ago

PRESS DIGEST - British Business - May 30

May 30 (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

CAPITA PLANS TO CLOSE O2 CALL CENTRES AND CUT THOUSANDS OF JOBS

Capita Plc has secretly planned to shut down two O2 call centres that employ more than 1,200 staff as part of a major outsourcing deal announced last week.

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HIGH STREET FEELS SQUEEZE AS SALES FALL

Britain’s high street was dealt a blow on Wednesday as a poll revealed that retail sales this month sank at their fastest pace in more than a year.

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The Guardian

SMITHFIELD FOODS SALE TO CHINESE FIRM GIVES US PORK GIANT ENTRY TO CHINA

China’s Shuanghui International has made a $4.7 billion bid to takeover Smithfield Foods, the world’s largest pork producer, in what would be the biggest takeover of a U.S. company by a Chinese firm to date - if it passes regulatory hurdles.

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NASDAQ TO PAY $10 MLN GOVERNMENT FINE OVER DISRUPTION TO FACEBOOK‘S IPO

Nasdaq OMX Group Inc has agreed to pay a $10 million penalty to settle federal civil charges after regulators said its systems and decisions disrupted Facebook Inc’s public stock offering last year.

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BORIS JOHNSON SIGNS 1 BLN STG DEAL FOR NEW EAST LONDON BUSINESS PARK

London Mayor Boris Johnson says Asian Business Port, aimed at Asian companies, would generate 20,000 jobs at Royal Albert Dock.

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The Times

INCOMING BANK GOVERNOR ‘MAY DEVALUE THE POUND’

Mark Carney may trigger a fresh devaluation of the pound in the face of soggy growth and a largely depleted policy arsenal, the world’s biggest bond fund predicted on Wednesday.

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GOLDMAN AND UBS TO LEAD ROYAL MAIL FLOAT

Two of the world’s biggest - and sometimes most controversial - investment banks, Goldman Sachs Group and UBS, are to lead the privatisation and flotation of the Royal Mail Group .

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OECD QUESTIONS OSBORNE‘S BUDGET STRATEGY

A leading think-tank has raised doubts over George Osborne’s decision to shelter the NHS from spending cuts, warning about the impact it was having on other areas of public spending.

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The Independent

LLOYDS’ PRIVATE BANKING BUSINESS SOLD OFF TO SWISS RIVAL UBP

Lloyds Banking Group has offloaded its international private banking business to a Swiss rival, Union Bancaire Privée. The lender said the deal would help it simplify its business as it continues to recover from the financial crisis.

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U.S. TAX DODGERS TARGETED AS SWISS EASE SECRECY

Switzerland has agreed to adopt new rules that would free its banks to reach settlements with the U.S. authorities as they go after wealthy Americans suspected of using the European country’s financial secrecy regime to evade taxes.

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