Reuters: Hot Stocks: PRESS DIGEST - British Business - August 6

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PRESS DIGEST - British Business - August 6 Aug 6th 2013, 00:48 August 6 | Mon Aug 5, 2013 8:48pm EDT August 6 (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 BP BLAMES TRAINEE ERROR AS IT FACES $29 MLN PENALTIES IN US GAS MARKET FIXING CASE BP faces $29 million of penalties for alleged gas price fixing, after a trainee inadvertently blew the whistle by boasting about manipulative trades in an attempt to impress an executive, U.S. regulators claim. LLOYDS' PRICE RISE RAISES STAKE-SALE HOPES Within two hours of the market opening, shares in Lloyds Banking Group had hit 77 pence, buoyed by reports that Chief Executive Antonio Horta-Osorio had told investors he hoped to pay out as much as 70 percent of profits within three years. (link.reuters.com/jus22v) BANK OF SCOTLAND FINED FOR 'UNFORGIVABLE' FAX BLUNDER Bank of Scotland has been hit with a 75,000 pound fine by privacy watchdogs for repeatedly faxing sensitive customer documents, including statements and pay-slips, to wrong numbers. (link.reuters.com/kus22v) The Guardian HSBC MAY RAISE BANKER PAY TO OVERCOME BONUS CAP HSBC is considering raising its bankers' salaries around the world in response to the EU's cap on bonuses, which it fears could damage its business. (link.reuters.com/hus22v) ZERO-HOURS CONTRACTS COULD BE SUBJECT TO NEW LEGISLATION, SAYS VINCE CABLE Britain's Business Secretary Vince Cable said the government could legislate on zero-hours contracts, but ruled out a complete ban. (link.reuters.com/gus22v) SEABED MINING COULD EARN COOK ISLANDS 'TENS OF BILLIONS OF DOLLARS' The Cook Islands hopes to transform itself into one of the world's richest countries within a decade by sending robots to the sea floor to collect minerals that it believes are worth tens of billions of dollars. (link.reuters.com/fus22v) The Times SERVICES SECTOR GIVES CAUSE FOR OPTIMISM Activity in Britain's dominant services sector rocketed last month to its strongest level since 2006, adding to evidence of strengthening growth in the UK economy. (link.reuters.com/zes22v) DOMINO'S DIVES ON SHARE SALES BY NON-EXECS According to research by The Times, serial investor Nigel Wray's sale of his remaining 2.99 percent stake in Domino's Pizza Group for 28 million pounds brings the total he has collected from selling shares in the pizza delivery company to about 144 million pounds. (link.reuters.com/bus22v) The Independent HSBC ANNOUNCE 10 PCT PROFIT GROWTH DESPITE DROP IN REVENUES Banking giant HSBC announced today that profits in the first half of the year grew 10 percent on the previous year to $14.1 billion on lower bad debts and shrinking costs. (link.reuters.com/dus22v) HOBBS SALE LOOKS UNLIKELY AS FINANCE DIRECTOR DEPARTS The finance director of Hobbs is leaving the fashion retailer, dampening speculation that the private-equity-backed chain will be put up for sale in the near future. (link.reuters.com/cus22v) (Compiled by Richa Naidu in Bangalore; Editing by Stephen Coates) Link this Share this Digg this Email Reprints

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