PRESS DIGEST- British Business - Jan 18

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

- Demand for mortgages and credit card lending is expected to fall sharply in the next three months, according to a survey by the Bank of England. http://bit.ly/2CtbZzk

- Two tobacco groups Japan Tobacco International (JTI) and Imperial Brands Plc that supported Palmer & Harvey will receive less than a third of the amount that they paid to shore up the wholesaler before it collapsed into administration. http://bit.ly/2CwKjtE

The Guardian

- Royal Bank of Scotland Group Plc is looking to buy up to 1.4 billion pounds ($1.82 billion) worth of shares from the government as part of efforts to cut the publicly owned stake in the lender, following its 2008 bailout. http://bit.ly/2CrUz6c

- The University of Oxford has placed an indefinite ban on accepting research grants or donations from the Chinese telecoms firm Huawei, which is facing mounting concerns from several governments about whether it poses a risk to national security. http://bit.ly/2CuZqDw

The Telegraph

- Babcock International Group Plc chairman Mike Turner took aim at "hedge funds who had got together to cause mischief and make money" after bowing to pressure from shareholders and announcing he is retiring from the engineering outsourcer. http://bit.ly/2CrIu12

- Hitachi Ltd has pulled the plug on plans to build a multi-billion pound nuclear plant in Wales despite the most comprehensive support package offered by any Government to a nuclear developer. http://bit.ly/2CDrh4T

Sky News

- Sofa.com has hired KPMG for an urgent search for a buyer, underlining the challenges facing internet-based shops even as their high street rivals battle the worst trading environment for decades. http://bit.ly/2CtJOAt

- U.S. rapper Snoop Dogg has bought a stake in Swedish financial technology company Klarna Bank. http://bit.ly/2CqLquO

The Independent

- Association of British Insurers has warned that UK motorists will have to apply for a "Green Card" to prove that they are insured if they wish to drive in the EU in the event of a no-deal Brexit. https://ind.pn/2CrIApq

- Koninklijke Philips NV is to close its factory at Glemsford in Suffolk and transfer operations to the Netherlands, putting 430 jobs at risk, amid continuing uncertainty around Brexit. https://ind.pn/2CrtwrR

($1 = 0.7709 pounds) (Compiled by Bengaluru newsroom)