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London News

• King Says U.K. Banks Exaggerated Merlin Lending, FT Reports

  Updated 24 minutes ago

  U.K. banks overstated the amount they lent under the “Project Merlin” agreement to boost lending to small and medium-size companies, the Financial Times said, citing a letter from Bank of England Governor Mervyn King.

• Usain Bolt Retains World 200m Title at World Championships

  Updated 57 minutes ago

  Usain Bolt defended his men’s 200- meter title at the world track and field championships in Daegu, South Korea.

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  Tropical Storm Lee Strengthens in Gulf as It Heads Toward Louisiana Coast

  Updated 1 hour, 41 minutes ago

  Tropical Storm Lee strengthened in the Gulf of Mexico as it moved north toward Louisiana’s coast, shutting as much as half the oil production in the Gulf of Mexico and a third of natural gas output.

• News Corp. Unit Denies Seeking Report on Phone Victims’ Lawyers

  Updated 1 hour, 39 minutes ago

  News Corp.’s News International said it did not sanction the use of private detectives to compile dossiers and conduct surveillance on the private lives of three lawyers pursuing phone hacking damages claims in the U.K.

• Britain’s Largest Lawyers’ School Considers Sale, The Times Says

  Updated 1 hour, 49 minutes ago

  The College of Law, Britain’s largest lawyers’ school with annual turnover of 70 million pounds ($114 million), may be put up for sale after its governors asked for a review of operations, The Times said.

• Von Essen Hotel Chain Sales Raise 150 Million Pounds, Times Says

  Updated 1 hour, 54 minutes ago

  Nineteen of the 28 properties owned by the collapsed Von Essen Hotels chain were under offer on a piecemeal basis to buyers, raising 150 million pounds ($243.3 million), according to The Times newspaper.

• Kesa’s Sale of Comet May Stall Over Working Capital, FT Reports

  Updated 2 hours, 14 minutes ago

  Kesa Electricals Plc’s attempt to sell its U.K. Comet chain may stall over the amount of working capital offered to buyers to fund the unprofitable business, the Financial Times reported.

• IAG Appoints JPMorgan to Advise on Bid for TAP, FT Reports

  Updated 2 hours, 19 minutes ago

  International Consolidated Airlines Group SA has appointed JPMorgan Chase & Co. to advise on a potential bid for Portuguese airline TAP SGPS SA, the Financial Times reported, citing unidentified people close to the matter.

• Libyans Seek to Restore Oil Output as a Hiding Qaddafi Threatens Turmoil

  Updated 21 minutes ago

  Libya’s new leaders anticipate restoring the nation’s oil output “within a reasonable time,” an achievement that depends in part on overcoming threats from the elusive Muammar Qaddafi and his remaining loyalists.

• Britain Unlikely to Sell Bank Holdings Before 2015, Financial Times Says

  The U.K. is unlikely to sell its stakes in Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc before the next general election in 2015, the Financial Times said, citing bankers it didn’t identify.

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