January 13, 2015 / 1:30 AM / 4 years ago

PRESS DIGEST- British Business - Jan 13

Jan 13 (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 Times

Oil prices fell below $48 a barrel to a five-and-a-half-year low after Goldman Sachs Group Inc cut its forecasts for this year, wiping billions of pounds off the value of London-listed oil companies. (thetim.es/1FNe5bm)

Robert Sarver, the American basketball team owner, has ended his surprise attempt to take control of Rangers International Football Club Plc after his second offer of 20 million pounds ($30.34 million) was again rejected by the Ibrox board. (thetim.es/1AQrzA4)

The Guardian

Pressure was mounting on the chief executive of Marks and Spencer Group Plc, Marc Bolland, as investors assessed the retailer's decline in sales over the crucial Christmas period. (bit.ly/1FNeXwR)

Some key home loan rates have fallen to the lowest levels as lenders battle for business and amid expectations that interest rates are not going to rise soon, according to Michael Saunders, a leading economist. (bit.ly/1BesbP4)

The Telegraph

The European Central Bank will be forced to boost its balance sheet to 4.5 trillion euros ($5.32 trillion) in a colossal monetary blitz to prevent deflation engulfing the eurozone, economists at RBS have warned. (bit.ly/1xVXIDZ)

Nuclear waste clean-up operations at Sellafield are expected to return to state control, as the private consortium managing the Cumbrian site is stripped of its 20 billion-pound contract. (bit.ly/14Nf4If)

Sky News

An investment arm of the taxpayer-backed Lloyds Banking Group Plc will take control of Birmingham's National Exhibition Centre Ltd this week as its local authority owner raises cash to fund a 1 billion pound-plus equal pay bill. (bit.ly/1CasHvu)

Shire Plc, the UK-listed pharmaceuticals firm, has bought a U.S. rival for 5.2 billion pounds in order to grow its business, particularly in the treatment of rare diseases. (bit.ly/1DRk1LP)

The Independent

Jaguar Land Rover is creating 1,300 new jobs in a move that has been hailed by the government as a "ringing endorsement" of the UK's car industry. (ind.pn/1yafbY1)

North Sea oil and gas explorers predicted that Chancellor George Osborne would offer them drastic tax cuts as they consider mass job cuts due to plummeting global prices. (ind.pn/14KKfEf) ($1 = 0.6593 pounds) ($1 = 0.8455 euros) (Compiled by Luke Koshi in Bengaluru; Editing by Ken Wills)

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