PRESS DIGEST- British Business - Nov 29

Thu Nov 28, 2013 8:54pm EST

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Nov 29 - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

The Telegraph

ARGENTINA VOWS TO JAIL FALKLANDS OIL EXPLORERS

Argentina has threatened 15-year jail terms and fines of more than $1.5 billion for Falklands oil explorers, in the latest escalation of rhetoric over the disputed islands.

SPEEDY HIRE BOSS QUITS AFTER DISCOVERY OF 5 MILLION POUND ACCOUNTING BLACK HOLE

The chief executive of Speedy Hire quit on Thursday night after 26 years at the tool rental group, following the discovery of 4.5 million-5 million pounds of dubious accounting at its Dubai-based international division.

The Times

CARNEY CURBS CHEAP MORTGAGE SCHEME AMID HOUSING BUBBLE FEARS

The Bank of England has issued its clearest warning yet that the recovery could be derailed by a property bubble, as it overhauled a cheap lending scheme to cool the market.

SCANDALS PROMPT CUSTOMERS TO FLEE STRICKEN CO-OP BANK

Allegations of drug use by the Co-operative Bank's former chairman and a string of investigations into possible wrongdoing have prompted current account customers to leave the beleaguered bank.

Sky News

SUITORS PLOT CARVE-UP OF CO-OP INSURANCE ARM

Bidders for the struggling Co-operative Group's insurance operations are looking to join forces in a move that could prolong the eventual sale of the business.

BANK ACTS TO CURB HOUSE PRICE AND DEBT RISKS

The Bank of England has taken its first major step to clamp down on rising house prices and ballooning household debt levels, cutting the incentives for banks to lend to consumers.

The Independent

RBS ACCUSER LAWRENCE TOMLINSON HITS OUT AT LAW FIRM CLIFFORD CHANCE APPOINTED TO PROBE BANK'S ACTIONS

The Yorkshire businessman who has accused Royal Bank of Scotland of deliberately killing off viable businesses for profit was highly critical of the bank's decision to appoint a top law firm to examine his allegations.

BRITAIN'S DEBT PROBLEMS 'EPIDEMIC', WARNS THINK TANK

The nation's debt problems have become an epidemic that needs solving with a national campaign to bring the issue into the open, similar to that undertaken by the government in the 1980s with AIDS awareness. That's the conclusion of a major report from government think tank The Smith Institute, published on Thursday in conjunction with debt charity Step Change.

The Guardian

HEDGE FUND SELLS UP AFTER FORCING CO-OP TO CEDE CONTROL OF BANK

One of the U.S. hedge funds which forced the Co-operative Group to cede control of its troubled bank has sold its investment ahead of a crucial vote on a rescue 1.5 billion pound fundraising.

NETWORK RAIL COULD BE FINED 80 MILLION POUNDS AFTER INFRASTRUCTURE FAULTS CAUSE RISE IN DELAYS

Network Rail faces a fine of up to 80 million pounds if it does not address worsening punctuality on the railways brought about by a 1.2 billion pound underspend on maintenance, the industry regulator has warned.

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