UK News Digest The Times, Observer, Telegraph, Guardian

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According to The Times HSH Nordbank of Germany will sue UBS (NYSE: UBS) to recover up to 500 million pound which it lost on subprime instruments sold to it by the Swiss bank.

The Times reports that Anheuer-Busch (NYSE: BUD) launch a last-ditchoffer for Scottish & Newcastle, Britain’s biggest brewer.

The Times writes that WPP will announce numbers for 2007 that are higher than forecast and pledge that the big advertsing holding company will grow at the same pace in 2008.

The Telegraph writes that The Qatar Investment Authority may invest in the UK’s large RBS (RBS) bank.

The Observer writes that the weakening housing market in come of the EU’s largest markets could start to hit the banking industy’s numbers in those countries.

Douglas A. McIntyre