June 27, 2014 / 12:25 AM / in 3 years

PRESS DIGEST- British Business - June 27

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

BOE CRACKS DOWN ON MORTGAGES TO HEAD OFF HOUSING BUBBLE

(bit.ly/1sJ6AM0)

Housebuilders, banks and markets were lifted on Thursday after the Bank of England decided against taking draconian steps to cool the housing market.

BARCLAYS SHARES HIT 19-MONTH-LOW ON DARK POOL CLAIMS

(bit.ly/1pFmrG0)

Barclays shares slumped to their lowest level for 19 months on Thursday after the bank was accused by U.S. authorities of defrauding investors.

The Guardian

TESCO HOARDING LAND THAT COULD BUILD 15,000 HOMES

(bit.ly/1nJe7Um)

Tesco, the UK’s largest supermarket chain, is hoarding land and buildings covering an area big enough to build 15,000 homes, a Guardian analysis has revealed.

STANDARD CHARTERED BANK ISSUES PROFIT WARNING

(bit.ly/TCyOYT)

Standard Chartered warned that profits will fall this year and said the head of its worst-performing business had gone on a long-term break from the Asia-focused bank.

The Times

OIL STRIKE IN GRANITE CHANGES UK PROSPECTS

(thetim.es/1jpg1ai)

Hurricane Energy said it successfully drilled the first exploration well into granite rock beneath the Atlantic waters close to Britain. It said the gusher at its Lancaster field in the West of Shetlands proved that oil could be produced from “fractured basement reservoirs”, describing it as a “game-changer” for the UK.

GLENCORE GETS WITH THE TIMES WITH FIRST FEMALE BOARD MEMBER

(thetim.es/VseD1i)

Glencore has appointed Patrice Merrin, a Canadian mining veteran, as a non-executive director, becoming the last FTSE 100 company to appoint a woman on its board.

The Independent

YAHOO AND CHERNIN VIE FOR YOUTUBE PARTNER

(bit.ly/1izE7Es)

The internet giant Yahoo is vying to win control of Fullscreen, a media group which creates content for thousands of YouTube channels, amid a land grab for key digital audiences.

FCA BOSSES DEFER BONUSES AMID INSURANCE PROBE

(bit.ly/1nJg6Im)

The chief executive of the City watchdog is to defer his annual bonus amid an ongoing probe into a briefing it organised which wiped billions of pounds from the value of UK insurers.

Complied by Tasim Zahid in Bangalore

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