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Sun journalist, UK military staff charged over royal stories

British prosecutors on Wednesday charged The Sun tabloid's royal editor and two former staff at the military academy where Princes William and Harry trained, over the sale of stories for thousands of pounds. Journalist Duncan Larcombe, 37, was charged with conspiracy to commit misconduct in a public office, along with 43-year-old John Hardy, a former instructor at the elite Sandhurst military training academy, and Hardy's wife Claire, 39.

UK police 'have collective amnesia' over hacking claims

British police knew of claims that journalists at Rupert Murdoch's News of the World hacked into a murdered schoolgirl's mobile phone but they failed to investigate, the police watchdog said on Wednesday. Britain's Independent Police Complaints Commission (IPCC) said Surrey Police in southeast England had done nothing about the allegations during their probe into the murder of 13-year-old Milly Dowler in 2002. But the IPCC said it was unable to find out why nothing was done, because former senior officers at the force appeared to be suffering from "collective amnesia".

LBG bank announces collapse of deal to sell branches

Britain's state-rescued Lloyds Banking Group on Wednesday said a deal agreed last year to sell 632 branches at a loss to The Co-operative Group had collapsed, adding that it would now divest Project Verde via an initial public offering.

BAE Systems, suppliers warn of fallout from Bradley shutdown

By Andrea Shalal-Esa WASHINGTON (Reuters) - Executives from Britain's BAE Systems <BAES.L> and dozens of companies that build parts for BAE's Bradley Fighting Vehicle rallied in Washington this week to lobby for U.S. Army orders they say are needed to keep the Bradley production line open. The companies argue that the Army's plan to temporarily shut down the production line in York, Pennsylvania could cost nearly as much -- or more -- than maintaining the line by upgrading older Bradley vehicles to a newer configuration.

Lloyds bank branch sale to Co-op collapses

By Matt Scuffham and Clare Hutchison (Reuters) - The planned sale by state-backed Lloyds of hundreds of UK bank branches to the Co-op fell through on Wednesday, setting back government plans to boost competition in the industry. The Co-op said it pulled out of the deal, worth up to 750 million pounds, due to toughening regulations and the worsening outlook for UK economic growth.

Sainsbury shows strongest growth of UK's "big four" - Kantar

LONDON (Reuters) - J Sainsbury delivered the strongest growth among Britain's so-called Big Four grocers in the 12 weeks to April 14 and was the only one to increase market share, monthly industry data showed on Tuesday. Market researcher Kantar Worldpanel said sales at Sainsbury, Britain's third-largest grocer, grew 5.4 percent in the period, increasing its market share to 16.9 percent.

Thatcher, Bobby Sands lose out in Paris street battle

Margaret Thatcher and Bobby Sands fought an epic battle three decades ago that left the Irish hunger-striker dead, but in their latest -- posthumous -- fight, neither side came out victorious when the city of Paris on Monday rejected plans to name streets after them. An exasperated deputy mayor of the French capital, Pierre Schapira, threw out a bid by far-left councillors for a Rue Bobby Sands as well as the call by the right-wing UMP party to have a street named after the British ex-premier who died this month.

UK plans privatisation to help cut debt - report

(Reuters) - As many as half of the 21 companies that the British government holds shares in could be wholly or partly privatised within five to eight years, the Financial Times reported on Sunday, citing Mark Russel who heads the Shareholder Executive. The British coalition government is increasingly focused on privatisations as a means to shed debt and avoid the need for more spending cuts, the Financial Times reported.

MPs want review into RBS/Lloyds 'bad bank'

LONDON (Reuters) - The finance ministry should examine the advantages and disadvantages of breaking up state-backed lenders RBS and Lloyds and hiving off their toxic assets into a 'bad bank', senior MPs have demanded. The cross-party Treasury Select Committee, responsible for examining the finance ministry's policies, recommended it deliver a cost-benefit analysis in time for the government's spending review in June. The report should also look at the impact on competition, it said.

Russian billionaire Usmanov tops Britain's rich list

Russian billionaire Alisher Usmanov has topped an annual "rich list" compiled by Britain's Sunday Times newspaper, with a fortune of £13.3 billion ($20.3 billion). The 59-year-old tycoon, who started out manufacturing plastic bags, now owns Russia's biggest iron ore producer Metalloinvest and has a nearly 30-percent stake in Arsenal Football Club. He also has a holding in mail.ru, Russia's biggest Internet company, and a large stake in London and Moscow listed mobile phone operator MegaFon.
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