PRESS DIGEST - Sunday British business - Feb 19
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PRESS DIGEST - Sunday British business - Feb 19

www.reuters.com   | 19.02.2012.

LONDON, Feb 19 (Reuters) - British newspapers reported the following business stories on Sunday:
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The Sunday Telegraph

HSBC SET TO SNUB UK LOAN SCHEME

HSBC is considering walking away from George Osborne's plans to inject 20 billion pounds ($31.6 billion) into the UK economy through the loan guarantee scheme, in what could prove to be a major blow to the Chancellor's hopes of reviving growth.

HEDGE FUNDS BET ON GLENCORE

A group of arbitrage hedge funds is betting that Glencore will either agree its 53 billion pounds ($83.8 billion) mega-merger with Xstrata or walk away, putting them directly opposed to long-only investors looking for an increased premium.

MURDOCHS FACE U.S. CALL FOR CHANGE

Rupert Murdoch can no longer ignore demands for sweeping change at News Corp after a week in which the company's problems spread to The Sun newspaper, leading U.S. shareholder California State Teachers' Retirement System (Calstrs) has warned.

BA TALKS TO OFT OVER FINE

British Airways is locked in talks with the Office of Fair Trading (OFT) over a 121.5 million pounds ($192.2 million) price-fixing fine levied against the airline five years ago.

HOMESERVE DRAWS UP SUCCESSION PLAN

Homeserve, which lost 55 percent of its stock market value after admitting to a mis-selling scandal last autumn, is lining up chief operating officer Martin Bennett to take over from chief executive Richard Harpin.

The Sunday Times

VULTURE FUNDS TO SEIZE CONTROL OF TRAVELODGE

Two American hedge funds, Avenue Capital and Golden Tree Asset Management, are planning to seize control of Travelodge as the budget hotel chain owned by Dubai International Capital (DIC) scrambles to raise cash.

REXAM TO SELL PLASTICS DIVISION

Packaging maker Rexam is this week expected to say it will sell a plastics division in a move that could raise 350 million pounds ($553.5 million).

TESCO GOES BACK TO BASICS TO HALT SALES SLIDE

Tesco is set to spend 150-200 million pounds ($237-316 million) this year hiring greengrocers, butchers and shop-floor staff to rebuild relationships with customers after January's profit warning.

INDIANS QUESTION DEAL ON FRENCH FIGHTER JETS

India's decision to hand a 7 billion pounds ($11 billion) contract for 126 fighter jets to French firm Dassault Aviation's Rafale jet instead of the BAE Systems and EADS backed Typhoon has been thrown into question after senior Indian officials raised doubts over the cost of the bid.



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