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Morning Wrap: today's top business stories

News stories from around the web.

UK banks told to find further £13bn (FT)

The Bank of England’s new banking regulator has demanded that Britain’s banks find an additional £13bn of capital in addition to the balance sheet strengthening measures they were already planning this year.

Microsoft to scrap Xbox One restrictions (FT)

Microsoft will remove unpopular restrictions on use of its forthcoming Xbox One games console in another embarrassing climbdown after its Windows 8 debacle.

Lloyds Bank to return to private hands (BBC)

The Chancellor, George Osborne, has used his annual Mansion House speech to the City to announce the government is preparing to sell its stake in Lloyds Bank back to private investors.

Mr Osborne said Lloyds - 39%-owned by the government - was in a good position and investor interest was growing.

EU moves to cut high Eurotunnel charges (Telegraph)

The European Commission has moved to cut what it has called “excessive’ track access charges levied by Eurotunnel.

BT chief Ian Livingston quits to become trade minister (Telegraph)

Ian Livingston, the chief executive of BT, will step down in September to join the Government as trade and investment minister, it has been announced.