PRESS DIGEST- British Business - Jan 29

Reuters

Jan 29 - 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

EMPHASIS WILL BE ON BRITISH JOBS IN NEW RAIL BIDS, SAYS SIEMENS DIRECTOR

Siemens, the controversial winner of a 1.5 billion pounds contract to make new Thameslink trains, says bidders for UK contracts feel they have to demonstrate how they will generate British manufacturing jobs.

LLOYDS PUSHES BUTTON ON 1.5 BILLION POUNDS-PLUS TSB FLOAT

Lloyds Banking Group has pushed the button on its 1.5 billion pounds-plus float of TSB after rejecting an 11th-hour approach from a group of institutional investors. TSB's management has begun meeting potential investors to ask them to back the pending flotation of the 631-branch business.

The Guardian

RAIL MINISTER CASTS DOUBT ON FUTURE OF UK MANUFACTURING

The rail minister, Stephen Hammond, has said there is little the Department for Transport can do to help Britain's recovering manufacturing industry as he unveiled a German-built train commissioned for London's rail network.

EX-CO-OP BANK CHAIRMAN PAUL FLOWERS ACED PSYCHOMETRIC TESTS- DEPUTY

Paul Flowers, the disgraced former chairman of the Co-Operative Bank, was appointed to the post because he did better than rival candidates in psychometric tests, the Treasury select committee of MPs was told on Tuesday.

The Times

UK INVESTS IN OFFSHORE WINDFARMS DESPITE COST

Britain has more offshore wind turbines than the rest of Europe combined, according to an industry report. More than 200 giant offshore turbines were connected to the grid last year, bringing the total around Britain's coast to 1,082. There are only 998 offshore turbines in the rest of Europe, according to the report by the European Wind Energy Association.

TREASURY TAKES AIM AT CARBON TAX TO CUT HOUSEHOLD BILLS

Treasury officials are working on plans to hold the rate of the carbon tax, which primarily penalises coal and gas plants and ultimately is paid for by consumers. The move comes in the wake of the government's decision in December to knock 50 pounds off energy bills after cutting other green levies.

Sky News

ECONOMY GROWS AT FASTEST RATE SINCE CRASH

The British gross domestic product (GDP) figure for the fourth quarter of 2013 stood at 0.7 percent, with growth for the full year reaching 1.9 percent. Output for 2013 reached its fastest annual rate of growth for six years, according to the Office for National Statistics.

LLOYDS CUTS 1,390 JOBS AMID STRATEGIC REVIEW

Lloyds Banking Group is cutting 1,080 jobs and outsourcing another 310 roles, the company has confirmed. It said the losses are part of the strategic review, previously announced in 2011. The company said 90 new roles would be created within the risk, operations and commercial departments.

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