PRESS DIGEST- British Business - May 21

Tue May 20, 2014 8:21pm EDT

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May 21 (Reuters) - 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

RAISING INTEREST RATES MAY BE ONLY TOOL TO CONTROL HOUSING MARKET, SAYS BEAN

(link.reuters.com/cub59v)

Raising interest rates might be the only effective tool the Bank of England has to cool the housing market, its deputy governor, Charlie Bean, who retires at the end of June, has conceded.

LLOYDS ACTS TO CURB 'INFLATIONARY' LONDON HOUSING

(link.reuters.com/dub59v)

The UK's biggest mortgage provider, Lloyds Banking Group , has taken radical action to address what it called "inflationary pressures" in London's housing market, tightening requirements for high-value property purchases.

The Guardian

ASTRAZENECA TELLS SHAREHOLDERS TO STOP PRESSURING IT TO RECONSIDER PFIZER

(link.reuters.com/fub59v)

AstraZeneca told its shareholders to stop trying to pressure it into reconsidering its decision to reject Pfizer's 69 billion pound takeover.

OFGEM PENALISES SCOTTISH POWER FOR OVERCHARGING ON ENERGY BILLS

(link.reuters.com/gub59v)

Scottish Power has been forced to pay 750,000 pounds to a consumer campaign after an investigation by the regulator found the energy firm had been overcharging customers who refused to pay bills by direct debit.

The Times

COBHAM BUYS US COMPANY TO FLY HIGH AND DIG DEEP

(link.reuters.com/hub59v)

Cobham, previously best known as a defence and aerospace electronics and components company, is paying 869 million pounds to take over Aeroflex, whose UK assets include part of the British empire of the former Marconi company, which has been testing the next generation of 4G and 5G internet telecommunications.

SAGA MOVES TO SOOTHE FLOTATION PRICE FEARS

(link.reuters.com/jub59v)

Saga has told institutional investors that "a substantial number" of the 700,000 private punters who expressed an interest in its flotation had put in firm orders for shares.

Sky News

HOUSE PRICES UP AS PM MULLS HELP TO BUY FUTURE

(link.reuters.com/kub59v)

House prices have risen 8 percent in the year to March, figures have shown, as David Cameron said he would "consider" changes to the Help To Buy scheme if advised to do so by the Bank of England.

SPORTING INDEX OWNER HGCAPITAL BETS ON EXIT

(link.reuters.com/nub59v)

Sporting Index is likely to be sold later this year as its owner attempts to exploit customer demand generated by the World Cup, which kicks off in Brazil next month. (Compiled by Aashika Jain in Bangalore; Editing by Eric Walsh)

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