PRESS DIGEST- British Business - May 29

Wed May 28, 2014 8:41pm EDT

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May 29 (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

NATIONWIDE WARNS OF 'UNINTENDED CONSEQUENCES' OF CURBING MORTGAGES

(link.reuters.com/fys69v)

Nationwide, Britain's biggest building society, has warned that efforts to curb mortgage lending in an attempt to cool the London housing market could have "unintended consequences" for the rest of the country.

PENSIONS REFORM LOOPHOLE MAY COST OSBORNE 24 BLN STG

(link.reuters.com/gys69v)

Treasury officials have been warned that the government could miss out on as much as £24billion because of the pensions freedoms announced by the chancellor in his budget, sources have said.

The Guardian

UNEMPLOYMENT RISING IN GERMANY AND FRANCE, FIGURES SHOW

(link.reuters.com/nys69v)

Unemployment is rising in Europe's two largest economies, with a shock jump in Germany and a new record high in France, according to the latest figures.

BANK OF ENGLAND GOVERNOR: CAPITALISM DOOMED IF ETHICS VANISH

(link.reuters.com/pys69v)

Capitalism is at risk of destroying itself unless bankers realise they have an obligation to create a fairer society, the Bank of England governor has warned.

The Times

ECB PREPARES STIMULUS PLANS AS DEFLATIONARY PRESSURE RISES

(link.reuters.com/rys69v)

Mario Draghi, the ECB president, has dropped clear hints that some form of stimulus would be launched after the governing council meets on Thursday. Interest rate cuts, quantitative easing and a variation of the UK's Funding for Lending scheme to help small businesses to access credit are being considered.

MITCHELLS & BUTLERS PLUCKS RIVAL ORCHID FOR 250 MLN STG

(link.reuters.com/sys69v)

Mitchells & Butlers has entered exclusive talks to acquire the rival Orchid pub company for more than 250 million pounds after outbidding the private equity firms Colony Capital and Starwood Capital.

Sky News

BRITISH GAS CHIEFS POISED TO QUIT IN SHAKE-UP

(link.reuters.com/vys69v)

The bosses of British Gas and its parent company are close to stepping down as part of a management shake-up at Britain's biggest energy supplier.

LLOYDS STEPS TOWARDS FEMALE EXECUTIVE TARGET

(link.reuters.com/hys69v)

The state-backed Lloyds Banking Group has taken a step toward meeting a self-imposed gender target for senior managers with the appointment of another top female executive. (Compiled by Aashika Jain in Bangalore; Editing by Lisa Shumaker)

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