PRESS DIGEST- British Business - May 21

The Times

BARCLAYS FINED RECORD $2.4 BLN OVER FOREX FIX

Six of the world's largest investment banks, including Barclays Plc and Royal Bank of Scotland, have been fined about $5.7 billion by U.S. regulators in the second and final major settlement with the industry over the foreign exchange markets manipulation scandal. (http://thetim.es/1egFHKc)

JUDGE REJECTS BAIL PLEA FROM LONDON'S 'FLASH CRASH' TRADER

The British trader blamed for helping to wipe hundreds of billions of dollars off the value of U.S. shares five years ago is facing a fifth week behind bars after a judge rejected his appeal against a 5 million pounds ($7.77 million) bail condition. (http://thetim.es/1egGFpH)

The Guardian

SCORES OF ALLEGED PHONE-HACKING VICTIMS PREPARE TO SUE MIRROR PUBLISHER

Trinity Mirror Plc is facing a soaring legal bill after dozens of alleged phone-hacking victims, including senior Labour party figures, scores of TV stars and David Beckham's father, prepare to sue the Daily Mirror publisher. A number of journalists at the Daily Mirror, Sunday Mirror and the People were accused at the trial of carrying out "industrial-scale phone hacking" between mid-1999 and 2009. (http://bit.ly/1egIfb2)

DAVID CAMERON WARNED HE COULD LOSE MINISTERS OVER EU REFERENDUM CAMPAIGN

David Cameron is being warned that a number of ministers will resign unless he allows cabinet members to follow their conscience and campaign for a no vote in the EU referendum. (http://bit.ly/1egIt29)

The Telegraph

GEORGE OSBORNE TO PRIVATISE 23 BLN STG OF TAXPAYER ASSETS

George Osborne has pledged to privatise 23 billion pounds ($35.72 billion) of government assets by the end of the next year in an attempt to bolster public finances and increase productivity. (http://bit.ly/1egJuqL)

AIRBUS CHIEF SAYS FUTURE INVESTMENT AT RISK IF UK LEAVES EUROPE

The head of Airbus in the UK, Paul Kahn, has said the aerospace and defence giant would reconsider future investment in the United Kingdom were it to leave the European Union. (http://bit.ly/1egJK9o)

Sky News

HG TO BUY EFFECTS FIRM THE FOUNDRY FOR $310.60 mln

The Foundry, which offers post-production and other services to film and television studios, is being bought by Hg Capital, a London-based private equity firm. (http://bit.ly/1egEYsn)

BOOKER TO BUY LONDIS AND BUDGENS CHAINS

Food wholesaler Booker is to buy the Londis and Budgens chains in England, Scotland and Wales in a deal that will strengthen its status as an independent grocery retailer. (http://bit.ly/1K2RSUJ)

The Independent

VODAFONE HEAD JOINS DEUTSCHE BANK IN WARNING OVER EU EXIT

The battle over Britain's membership of the European Union intensified as two of the country's largest employers warned that an exit would be damaging to the economy. (http://ind.pn/1egIG5m)

WAGES PAID TO ILLEGAL IMMIGRANTS WILL BE CONFISCATED BY THE POLICE, SAYS DAVID CAMERON

The wages paid to illegal migrants working in the shadow economy will be confiscated by police as part of a fresh drive by David Cameron to push down immigration. (http://ind.pn/1egJ6IS)

($1 = 0.6439 pounds) (Compiled by Ismail Shakil in Bengaluru)