PRESS DIGEST- British Business - May 6

Reuters

May 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

PFIZER BOSS SAYS ASTRAZENECA TAKEOVER WILL CUT DRUG COSTS

Pfizer boss Ian Read has claimed that an AstraZeneca takeover would reduce the cost of medical treatment, as the U.S. pharmaceuticals giant battled to win political support for the 63 billion pound deal. (http://link.reuters.com/tuv98v)

RAPID UK GROWTH ON COURSE TO CONTINUE

Britain's rapid growth rate will become "ingrained" and more balanced, the European Commission said on Monday, as two separate reports suggested the strong rate of expansion was likely to continue. (http://link.reuters.com/suv98v)

The Guardian

PFIZER'S ASTRAZENECA BID UNDER SCRUTINY BY MPS AMID FEARS OVER INDUSTRY FUTURE

The controversial takeover of AstraZeneca by U.S. drugs group Pfizer is to be investigated by MPs, who are being urged to take evidence from their chiefs amid fears the 63 billion pound transaction could threaten the future health of the UK's science base. (http://link.reuters.com/vuv98v)

UK ENERGY TOO CHEAP, SAYS STUDY

The government must urgently establish a strategic authority to oversee the future growth of Britain's ageing energy infrastructure, a study by academics at Newcastle University argues on Tuesday. (http://link.reuters.com/xuv98v)

The Times

ROYAL MAIL A HOSTAGE TO FORTUNE ON CHIEF MOYA GREENE'S PAY

Royal Mail is on a collision course with its largest shareholder over demands for a big pay rise for its chief executive. (http://link.reuters.com/byv98v)

TESCO POUND ZONES TAKE FIGHT TO DISCOUNT STORES

Tesco is to open hundreds of "Pound Shop" zones within its biggest supermarkets to take on the discount stores. (http://link.reuters.com/cyv98v)

Sky News

MILIBAND URGES CAUTION ON PFIZER TAKEOVER BID

Ed Miliband has written to the Prime Minister to demand a full assessment of whether drugs company Pfizer's bid for UK-based AstraZeneca would be good for Britain. (http://link.reuters.com/gyv98v)

ROYAL MAIL PLOTS BOND ISSUE AS ROW RAGES ON

Royal Mail is weighing a move into the bond markets to raise hundreds of millions of pounds even as the row over the postal operator's privatisation looks set to continue. (http://link.reuters.com/hyv98v) (Compiled by Tasim Zahid in Bangalore)

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