PRESS DIGEST- British Business - Jan 6

Sun Jan 5, 2014 8:30pm EST

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Jan 6 (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

GEORGE OSBORNE TO CUT TAXES BY EXTENDING AUSTERITY AND CREATING SMALLER STATE

George Osborne will set out plans to cut taxes by extending the austerity programme and creating a permanently smaller State. The Chancellor will say in a speech in Birmingham that Britain must face up to "hard truths" about the need to make more cuts and reforms to get a stable economy.

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ECONOMIC SHIFT AWAY FROM CHINA TO THE WEST WILL DICTATE COMMODITY PRICES IN 2014

Commodities investors are shifting their strategic focus away from China for 2014 as they search out clues as to the direction of prices. The global economic narrative is changing rapidly, with the emphasis moving from Asia and the fast-growing markets in the East, back to the developed West.

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The Guardian

UK MANUFACTURING TIPPED FOR STRONGEST GROWTH IN EUROPE

Britain's manufacturers will enjoy faster growth than those in Germany or any other western European economy this year from rising demand at home and abroad, according to a report.

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GEORGE SOROS WARNS THAT CHINESE SLOWDOWN IS BIGGEST WORRY IN 2014

George Soros is worried about China, and we should take note. The hedge fund boss, who built his fortune betting on the world's money markets, is concerned that 20 years of rapid growth is about to run out of steam.

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The Times

DEVELOPER'S GRAND DESIGN FOR LUXURY RETAIL AT O2

Land Securities has signed a six-month exclusivity agreement with AEG Europe, one of the world's largest concert promoters and owner of O2 Arena in Greenwich, to negotiate options for jointly developing a luxury retail centre in an unused part of the former Millennium Dome.

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THE DAYS OF BELT-TIGHTENING ARE OVER AND HOMEBUYERS ARE HEADING FOR THE COUNTRY

Forget luxury homes in Notting Hill or Wimbledon Village - the property hot spots this year will be in London's commuter belt. According to the nationwide estate agent Jackson-Stops & Staff, househunters will be heading for the likes of Weybridge, Esher, Cobham and Oxted in Surrey and Sevenoaks, in Kent.

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The Independent

ASIAN TYCOON LI KA-SHING'S EMPIRE TAKES UP TO 630 MLN STG FROM BLACKOUT ENERGY FIRM

The Hong Kong billionaire Li Ka-Shing's offshore-controlled family companies could have channelled as much as 630 million pounds in the past three years out of the UK electricity distribution network blamed for the Christmas blackouts.

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CARNEY WINS APPROVAL OF FINANCE DIRECTORS

Britain's finance directors "like what they've seen" of Mark Carney in his first six months as Bank of England Governor, according to Deloitte's top number-cruncher.

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