PRESS DIGEST- British Business - May 12

The Times

ALL EYES ON INFLATION REPORT AS MPC KEEPS RATES ON HOLD

The Bank of England's monetary policy committee kept interest rates on hold at a record low of 0.5 percent for the 74th month in a row. At the same time, it held the amount of asset purchases steady at 375 billion pounds ($583.88 billion). (http://thetim.es/1QDrk0m)

SHATTERED CHINA CUP MAKER'S RECOVERY GETS PERFECT FINISH

KPS Capital Partners has sold the parent of Wedgwood, Waterford Crystal, Royal Albert and Royal Doulton to Fiskars for $437 million in cash. (http://thetim.es/1Eymn0n)

The Guardian

DAVID CAMERON MAY BRING EU REFERENDUM FORWARD TO 2016

David Cameron is drawing up plans to bring forward an in/out referendum on Britain's membership of the European Union by a year to 2016 in order to avoid a politically risky clash with the French and German elections in 2017. (http://bit.ly/1IxpStD)

WHISTL: ABOUT 2,000 JOBS AT RISK AS POSTAL GROUP SUSPENDS DELIVERIES

About 2,000 private postal workers are facing layoffs after the collapse of private equity funding caused Whistl to suspend deliveries. The logistics group formerly known as TNT and owned by Dutch private postal group PostNL said it was reviewing the viability of shipping directly to UK homes and businesses. (http://bit.ly/1IuSANk)

The Telegraph

RBS FACES LARGE DAMAGES BILL OVER 'ENORMOUS' MORTGAGE DECEPTION

Royal Bank of Scotland Group Plc and Nomura Holdings Inc could be forced to pay out nearly a half billion dollars in damages following an "enormous" deception in selling mortgage-backed securities. A U.S. judge ruled the banks made false statements when they sold the securities to Fannie Mae and Freddie Mac prior to the 2008 financial crisis. (http://bit.ly/1Fa0k4I)

Sky News

BARCLAYCARD CHIEF KEATING TO QUIT UK LENDER

Barclays Plc will announce on Tuesday that Valerie Soranno Keating is stepping down from the UK's biggest credit card provider, Barclaycard. (http://bit.ly/1HaFAcC)

LORD SUGAR QUITS 'ANTI-ENTERPRISE' LABOUR

Lord Sugar has announced he has quit the Labour party because of its "negative business policies and the general anti-enterprise concepts". (http://bit.ly/1IuUfCv)

The Independent

LONDON HOMEOWNERS 3,500 POUNDS WORSE OFF A YEAR SINCE CAMERON TOOK OFFICE

Rent and mortgage payments have risen so far beyond the wages of Londoners that they are on average 3,500 pounds worse off a year than when David Cameron first took office. (http://ind.pn/1J7pgvo)

DAVID CAMERON PAVES WAY FOR SHAKE-UP OF THE BBC AS LICENCE FEE CRITIC JOHN WHITTINGDALE JOINS ALL-TORY CABINET

David Cameron has paved the way for a radical shake-up of the BBC as he appointed a new Cabinet, which he will order to pursue "blue-collar Conservatism" to help working people. (http://ind.pn/1cKW4OL)

($1 = 0.6423 pounds) (Compiled by Zara Mascarenhas in Bengaluru)