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PRESS DIGEST - British business - Oct 9

The Times

OLIGARCHS TELL BP THEY WANT OUT OF JOINT VENTURE

The four billionaires who own half of BP's Russian joint venture have performed an extraordinary U-turn and are heading towards the exit.

RECKITT COMES CLEAN OVER LOAN

Reckitt Benckiser admitted that it had failed to disclose that its chief executive had pledged more than 7 million pounds ($11.22 million) of shares as collateral for a personal loan more than two years ago.

The Telegraph 'LYNCH MOB' ATTACK ON MINING GIANTS BOARD

The board of troubled mining giant ENRC has been accused by one of its own directors of acting like a "lynch mob", being "morally wrong" and of attempting to oust its chief executive Felix Vulis behind his back.

OSBORNE PLAN FOR TAX-FREE SHARES FACES FIGHT

George Osborne On Monday unveiled a plan for an employee owners scheme that was welcomed with open arms by business leaders despite concerns it could meet opposition from Brussels.

IMF'S U-TURN ON GROWTH A BLOW TO UK

George Osborne has suffered a fresh blow as the International Monetary Fund slashed its forecast for UK growth, in its sharpest downward revision for any advanced economy.

The Guardian PROTECTION FOR HOUSEHOLDERS WHO TACKLE BURGLARS

Householders who resort to physical force to deter burglars will be given greater protection from the law, the British justice minister, Chris Grayling, will announce on Tuesday.

The Independent British ministers are investigating a proposal to outsource the production of wind power to Ireland. ($1 = 0.6240 British pounds) (Reporting by Stephen Mangan)

((stephen.mangan@thomsonreuters.com)(+44)(0)(20 7542 7931))

Keywords: PRESS DIGEST BRITISH BUSINESS OCT 9