Press digest sunday british business july 1

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LONDON, July 1 British newspapers reported the following business stories on this site SUNDAY TELEGRAPH: INVESTORS TURN ON BARCLAYS CEO DIAMOND Two of Barclays' leading shareholders have demanded the removal of Bob Diamond, the chief executive, and Marcus Agius, its chairman, as the firestorm surrounding the bank intensifies. For more background, see Reuters story from June 30:UK orders bank review, calls Diamond to panelNEW AVIVA CHAIRMAN DRAWS UP SALE PLANS British insurer is considering selling or closing up to a fifth of its business divisions. For more background, see Reuters story from May 17: Insurer Aviva to sell some businesses in overhaulASTRAZENECA FACES ATTACK OVER 2.2 BLN STG U.S. VENTURE Drugs giant will face questions from investors after announcing that it is to pay $3.4 billion towards the buyout of Amylin. For more background, see Reuters story from June 30: Bristol-Myers to buy Amylin for about $5.3 blnVODAFONE CEO HITS BACK AT 'SIMPLISTIC' CRITICISM OVER TAX

Vittorio Colao, chief executive of the British phone group, told the Sunday Telegraph that Vodafone would pay more corporation tax in Britain if the government handed back some of the 5.96 billion pounds the company was required to pay up front for access to mobile spectrum. For more background, see Reuters article on June 26: INSIGHT-Vodafone in new 1 bln stg UK tax 'scandal'GLENCORE COULD ABANDON XSTRATA DEAL Glencore CEO Glasenberg is preparing to walk away from the company's merger deal with rival Xstrata. SEYMOUR PIERCE SALE IS A STEP CLOSER The British investment bank is in the final stages of being sold to a financial institution from the former Soviet Union.

THE SUNDAY TIMES: FBI PROBES BARCLAYS RATES TRADERS Agents at the FBI's Washington headquarters are conducting an inquiry into the group accused last week by regulators of conspiring to rig interest rates. CHINESE SIGNAL INTEREST IN 2 BLN STG INVENSYS TAKEOVER China South Locomotive is understood to be in the early stages of plotting a move for the British engineering company.

GLENCORE IN CRUNCH DEAL TALKS WITH QATAR Glencore's CEO is to hold a 'showdown' meeting this week with Qatar's state investment fund in a bid to save the Xstrata deal. RUSSIAN BILLIONAIRE EYES DR MARTENS Pamplona Capital, an investment fund backed by Russian billionaire Mikhail Fridman, is in the running to pay up to 200 million pounds for British boot maker Dr Martens. THE OBSERVER: THROW OUT BANK CHEATS, CABLE TELLS SHAREHOLDERS British Business Secretary Vince Cable urged shareholders in UK banks to "rise up and purge" their companies of corrupt executives, whom he said had allowed 'systemic abuse' to take root in the banking system. FINANCIAL MAIL ON SUNDAY: BANK RATE FIXERS MAY FACE CRIMINAL CHARGES Andrew Tyrie, head of the British parliament's Treasury Select Committee, said the LIBOR interest-rate fixing scandal could lead to criminal charges against individuals. GLENCORE BOSS EXPECTED TO SWEETEN XSTRATA OFFER Xstrata shareholders expect Glencore boss Glasenberg to increase his offer to more than 3 Glencore shares for every Xstrata share.

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