PRESS DIGEST - British business - Feb 6

The Times

TESCO BANK DELAYED UNTIL NEXT YEAR

Tesco Bank has delayed the launch of its current account until next year. Its much vaunted arrival had been regarded as a symbolically important breakthrough in attempts backed by ministers to break up the dominance of the big five established UK banks.

The Telegraph

EC MAY PROBE 'GLENSTRATA' DEAL

Xstrata and Glencore could face an unexpected competition hurdle to their proposed 50 billion pound ($79.00 billion) merger, with the EU poised to ignore an earlier ruling that would have avoided an investigation.

GREECE FALTERS IN DEBT TALKS

The Greek prime minister on Sunday failed to secure a bondholder agreement despite appealing for help from the bosses of the International Monetary Fund and the European Central Bank to help break the dangerous deadlock.

DUBAI ABANDONS MASSIVE DEBT RESTRUCTURING

Dubai's government has walked away from the $10 billion debt restructuring of one of its biggest conglomerates, leaving creditors, including the Royal Bank of Scotland, with exposure to potentially big losses.

The Guardian

CONFIDENCE PLUMMETS OVER FEARS OF SECOND UK RECESSION

The beleaguered state of the UK economy was underlined on Sunday by three separate reports revealing that Britain's one million small and medium-sized businesses were facing their most difficult year since the recession in 2009.

The Independent

BARCLAYS TO MEET MERLIN LENDING TARGET

Barclays is set to reveal that it has exceeded the lending targets agreed with the British government when it unveils its annual results on Friday.

CBI CONDEMNS POLITICIANS 'ANTI-BUSINESS RHETORIC'

The leader of Britain's top employers' body has called on politicians to stop bashing business for fear it is damaging the already-fragile economy.