Reuters: Hot Stocks: PRESS DIGEST- British Business - Nov 8

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PRESS DIGEST- British Business - Nov 8 Nov 8th 2013, 01:24 Nov 8 (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 RBS SETTLES $150 MLN U.S. MORTGAGE INVESTIGATION Royal Bank of Scotland has paid $150 million in a settlement with the Securities and Exchange Commission over allegations it did not conduct proper checks in the sale of $2.2-billion bond backed by residential mortgages. (link.reuters.com/nun54v) BANKS CHIEFS TOLD BY FCA SWAP COMPENSATION 'TOO SLOW' British regulators have written to the chief executives of the country's four largest banks to complain about the speed at which victims of interest rate swap mis-selling have been compensated. (link.reuters.com/pun54v) The Guardian GOLDMAN SACHS CO-OPERATES WITH FOREIGN EXCHANGE TRADING INQUIRY Goldman Sachs has become the latest bank to admit it is co-operating with regulators over an inquiry into potential manipulation of the foreign exchange markets, where more than 3 trillion pounds of currencies change hands each day. (link.reuters.com/qun54v) UK GAS MARKET NOT RIGGED IN 2012, REGULATORS CONCLUDE The embattled energy industry was given a lift on Thursday when a 12-month investigation by the Financial Conduct Authority and Ofgem into alleged rigging of the wholesale gas market ended with a clean bill of health. (link.reuters.com/run54v) The Times TWITTER SPREADS ITS WINGS AND SOARS ON MARKET DEBUT Shares in Twitter Inc took flight on its stock market debut, becoming the biggest technology IPO since the Facebook flotation last year. Within seconds the microblogging service's shares soared from $26 to $44.90, valuing the seven-year-old business at $31billion. (link.reuters.com/sun54v) 1 BLN STG BONUS FROM FOREIGN HOME BUYERS George Osborne is receiving an unexpected windfall worth hundreds of millions of pounds thanks to a super-tax on wealthy people who buy property through a foreign company. (link.reuters.com/tun54v) The Independent BANK OF ENGLAND HOLDS RATES AT RECORD LOW The Bank of England kept interest rates on hold once more on Thursday amid renewed speculation that it may be forced to raise the cost of borrowing sooner than expected. Policymakers maintained rates at their record low of 0.5 percent and kept the Bank's 375 billion pound economy-boosting drive unchanged. (link.reuters.com/vun54v) ECB SURPRISES MARKETS WITH RATE CUT The European Central Bank has startled investors with a surprise cut in its benchmark interest rate. The bank lowered the benchmark refinancing rate to a record low 0.25 percent from 0.5 percent at a meeting of its 23-member governing council in Frankfurt. (link.reuters.com/wun54v) (Compiled by Abhirup Roy in Bangalore; Editing by Prateek Chatterjee) Link this Share this Digg this Email Print Reprints

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