PRESS DIGEST- British Business - March 26

March 26 Tue Mar 25, 2014 10:00pm EDT

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March 26 (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

TREASURY TO SELL LLOYDS SHARES WORTH 4 BLN STG, REDUCING STAKE TO 25 PERCENT

The Government has launched the largest sale yet of shares in Lloyds Banking Group in a deal that could raise more than 4 billion pounds ($6.60 billion) for the taxpayer. (link.reuters.com/tur87v)

ONLINE TAKEAWAY SERVICE JUST EAT TO BE VALUED AT OVER 1 BLN STG IN IPO

Online food takeaway service Just Eat is expected to be valued at more than 1 billion pounds on Wednesday as it reveals the price of its initial public offering in London. (link.reuters.com/war87v)

The Guardian

ROYAL MAIL FACES STRIKES OVER PLAN TO SHED 1,600 STAFF

Postal unions have reacted angrily and raised the prospect of industrial action after Royal Mail announced plans to cut 1,600 jobs in the postal group's first big round of redundancies since it was privatised in October. (link.reuters.com/rur87v)

KINGFISHER ANNOUNCES SHAREHOLDER PAYOUT AFTER SURGE IN PROFITS

Kingfisher, the DIY group that owns B&Q, will pay out about 200 million pounds to shareholders this year after its financial performance experienced a revival along with the British housing market. (link.reuters.com/sur87v)

HONDA TO CUT SWINDON CAR PRODUCTION, THREATENING 340 JOBS

Honda Motor is to cut production at its Swindon factory from three shifts to two, threatening 340 jobs at the car manufacturer. (link.reuters.com/qur87v)

The Times

CENTRICA SEEKS ENERGY BOOST WITH FIRST FORAY INTO IRELAND

A consortium led by Centrica has bought the supply division of Bord Gais for 1.1 billion euros ($1.52 billion). The owner of British Gas intends to replicate its integrated model of owning power stations and a supply business in the Republic of Ireland, which offers better growth prospects than Britain. (link.reuters.com/nur87v)

RSA RESPONDS TO CRISIS WITH SHARE DISCOUNT

Shareholders have been invited into a deeply discounted 773 million pound cash call from RSA as the insurer attempts to restore its reputation after financial problems and a scandal in Ireland. (link.reuters.com/pur87v)

SCOTS INDEPENDENCE PLAN 'DOES NOT ADD UP'

The Scottish Government' plan to leave Britain simply does not make sense even after its prized oil and gas revenues are taken into account, the country's biggest business lobby group has warned. (link.reuters.com/mur87v)

The Independent

NAT ROTHSCHILD'S BUST-UP WITH WEALTHY BAKRIE FAMILY TURNS INTO TWITTER STORM

Financier Nat Rothschild and a prominent Indonesian businessman, Aga Bakrie, engaged in a spectacular and very public bust-up on Twitter after the wealthy Bakrie family agreed to cut ties with London-based investors and buy back their stake in the mining firm Bumi, now known as Asia Mineral Resources . (link.reuters.com/hur87v)

TULLOW OIL DISCLOSES TAX IN TRANSPARENCY DRIVE

Tullow Oil has broken ranks with the rest of the industry to disclose for the first time how much tax and royalties it pays governments in the mainly poor countries in which it operates, on a project-by-project basis. (link.reuters.com/jur87v) ($1 = 0.6059 British Pounds) ($1 = 0.7258 Euros) (Compiled by Richa Naidu in Bangalore)

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