PRESS DIGEST – British business – Nov 24

The Daily Telegraph

EUROZONE IN CRISIS AS DEBT WOES DEEPEN

Borrowing costs for Portugal and Spain have surged to
dangerous levels on concerns that Europe’s leaders are losing
political control of the Irish crisis and have yet to agree on a
plan to tackle the eurozone’s debt woes.

LORD TURNER: “FREE BANKING DAMAGES COMPETITION”

Free banking is blocking new entrants, damaging competition
in financial services and incentivising lenders to mis-sell
products to customers, Lord Turner, chairman of the Financial
Services Authority (FSA), has said.

The Times

CHLORIDE BOSS COBBOLD FAVOURITE FOR DE LA RUE JOB

Bank note printer De La Rue (DLAR.L: ) has chosen former
Chloride chief executive Tim Cobbold to lead the company through
its banknote printing scandal

MUTUALS ALARMED OVER THREAT TO CLAW BACK FINANCIAL FREEDOMS

Building societies reacted with concern and surprise on
Tuesday after financial regulators threatened to reverse the
freedoms given to them over the past 25 years.

The Independent

WATCHDOG REBUKES SKY CHANNEL IN GERMANY

The German markets watchdog BaFin has reprimanded Sky
Deutschland, the pay-TV provider that is 49.9 per cent owned by
News Corporation (NWSA.O: ), for overstating the number of
customers using its service as well as its profits and the value
of the company.

The Guardian

HOMESERVE CHIEF CUTS STAKE WITH 66 MLN POUND SALE

Businessman Richard Harpin has sold a third of his shares in
Homeserve (HSV.L: ), the home repairs company he founded in 1993,
for 66 million pounds ($104.8 million).

MORE PEOPLE FLOCKING TO PUBS DESPITE CUTS, SAYS M&B

Mitchells & Butlers (MAB.L: ), Britain’s largest pub operator,
said low mortgage rates and expanding disposable incomes have
nudged up the number of customers swinging through the doors of
its 1,600 outlets and raised the amount they are prepared to
spend despite impending spending cuts.

(Summary compiled by Reuters)

PRESS DIGEST – British business – Nov 24