Reuters: Hot Stocks: PRESS DIGEST - British Business - Aug 2

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PRESS DIGEST - British Business - Aug 2 Aug 2nd 2013, 00:41 Thu Aug 1, 2013 8:41pm EDT Aug 2 (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 FABRICE TOURRE FOUND LIABLE FOR DEFRAUDING INVESTORS Fabrice Tourre, the former Goldman Sachs banker, has been found liable for his role in a massive mortgage securities fraud that cost investors $1 billion. (r.reuters.com/sef22v) MERGERS OFF AS BAE PROFITS FALL BAE Systems ruled out any need for further merger attempts after a "challenging" first-half that saw profits fall 8 percent to 529 million pounds pre-tax on lower-than-expected sales. (r.reuters.com/tef22v) TYRRELLS SOLD TO INVESTCORP FOR 100 MLN STG Tyrrells, the premium snacks and crisps business, has been sold to private equity investor Investcorp for 100 million pounds, it can be revealed. (r.reuters.com/wef22v) The Guardian NSA PAYS 100 MLN STG IN SECRET FUNDING FOR GCHQ The U.S. government has paid at least 100 million pounds to the UK spy agency GCHQ over the last three years to secure access to and influence over Britain's intelligence gathering programmes. (r.reuters.com/xef22v) LLOYDS SELL-OFF MOVES NEARER AS BANK RETURNS TO PROFIT The boss of Lloyds Banking Group challenged the government on Thursday to start selling off the taxpayer's stake after the bailed-out bank bounced back to profit and outlined plans to resume dividends to shareholders for the first time since the financial crisis. (r.reuters.com/zef22v) SHELL PROFITS HIT BY NIGERIA DISRUPTION Oil thefts and gas supply disruptions in Nigeria contributed to a large fall in profits at Royal Dutch Shell in the second quarter. (r.reuters.com/buf22v) ROYAL MAIL STAFF TO HOLD STRIKE BALLOT OVER PRIVATISATION PLANS More than 100,000 postal workers are to vote on holding a 24-hour nationwide strike in the latest escalation of their battle against the government's plan to privatise the Royal Mail. (r.reuters.com/duf22v) The Times FACTORIES LEAP INTO ACTION AS LOOSE MONEY GETS TO WORK Manufacturers are on the march on both sides of the Atlantic, with the strongest production for two years helping to buoy stock markets. (r.reuters.com/fuf22v) LUTON AIRPORT SOLD TO CONSORTIUM IN 433 MLN STG DEAL Luton airport has been sold to a consortium led by Spain's airport operator Aena for 433 million pounds. (r.reuters.com/huf22v) BANK HOLDS 0.5 PCT RATES AS ECONOMY WARMS The Bank of England held interest rates at their historic low of 0.5 percent as it responded to encouraging data about the economy. (r.reuters.com/kuf22v) The Independent THOMAS COOK BOOKS A PROFIT FOR FIRST TIME IN TWO YEARS Thomas Cook showed further signs that it was putting its financial woes behind it as it swung back into the black for the first time in two years. (r.reuters.com/muf22v) DIGITAL INCOME DROPS BY 8 PERCENT AT TRINITY MIRROR Trinity Mirror has suffered an 8 percent drop in digital revenues in the past six months, underlining the problems that the owner of the Daily Mirror group faces in offsetting falling sales of its newspapers. (r.reuters.com/nuf22v) (Compiled by Abhishek Takle in Bangalore; Editing by Subhranshu Sahu) Link this Share this Digg this Email Reprints

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