PRESS DIGEST- British Business - March 5

March 5 Tue Mar 4, 2014 9:34pm EST

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March 5 (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

BARCLAYS: WE PAID BONUSES TO AVOID 'DEATH SPIRAL'

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Barclays Bank's Chief Executive, Antony Jenkins, says lower pay would have meant clients and employees would have been less likely to use Barclays.

RUSSIA CANCELS UKRAINE'S GAS DISCOUNT AND DEMANDS $1.5 BLN

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Russian energy giant Gazprom has increased the price of gas supplies to Ukraine, sending a chilling reminder of the power Russia holds over European energy markets.

The Guardian

BANKERS' BONUS CAP ARCHITECT SAYS EU MUST SUE UK GOVERNMENT

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One of the architects of the EU's cap on bankers' bonuses has called for the UK government to be sued for allowing banks to sidestep the new rules as two more high street banks were preparing to hand their bosses up to 1 million pounds in extra pay to avoid the clampdown.

AVERAGE SMALL CENTRAL LONDON FLAT TO COST 36 MLN POUNDS BY 2050, INVESTOR PREDICTS

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London Central Portfolio launches 100 million pounds fund to buy one- and two-bed apartments in capital's most exclusive districts.

The Times

RECORD LOW RATE HAS COST SAVERS 117 BLN POUNDS

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Savers marked the fifth anniversary of record low interest rates by accusing the Bank of England of costing them 117 billion pounds as part of the largest and most undemocratic redistribution of wealth in generations.

LANDLORDS FACE SCRUTINY OVER SERVICE AND CHARGES

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The Office of Fair Trading launched an investigation into the residential property management industry to determine if leaseholders were "getting a fair deal" and to assess how well the market was working.

The Independent

GLENCORE XSTRATA SET TO STRIKE RUSSNEFT DEAL DESPITE WAR FEAR

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The world's biggest commodities and mining group Glencore Xstrata on Tuesday looked set to strike a near $1 billion deal in Russia despite the threat of war in Ukraine.

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