Dec 12 (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

* BANK OF ENGLAND TO BE MORE OPEN AS IT OVERHAULS MPC MEETINGS

Decisions on interest rates will be made just eight times a year from 2016 after the Bank of England proposed the biggest shake-up of monetary policy arrangements since it gained independence in 1997. Under plans unveiled today, the Bank will ditch four of the monetary policy committee's monthly votes and replace them with non-voting meetings with the financial policy committee, which oversees financial stability. (http://thetim.es/1vHN6CM)

* STANDARD CHARTERED ACTS TO COMBAT FINANCIAL CRIME

Standard Chartered Plc has formed a top-level group to combat financial crime, as the bank attempts to prove to U.S. regulators that it is taking drastic action to prevent a repeat of its money-laundering and sanctions-busting scandals. (http://thetim.es/1wkGhuK)

The Guardian

* Orange Wednesdays to be phased out in 2015

EE has announced it is to scrap its once popular cinema deal - Orange Wednesdays - that gave mobile customers two cinema tickets each week for the price of one. The deal is being axed after the final showing on the last Wednesday of February 2015. (http://bit.ly/1zVLj1f)

* UK standard of living rises to fourth highest in EU

The UK's standard of living has climbed to the joint fourth-highest within the European Union, overtaking the Netherlands and significantly ahead of France, Italy and Spain, according to official figures compiled by Eurostat, the statistical office of the EU. (http://bit.ly/1sg66xK)

The Telegraph

* Telefonica chairman flies in in bid to sell O2 to BT

The chairman of Telefonica SA flew into London on Thursday to try to seal a deal over the weekend for BT Group to buy his company's British mobile operator, O2, rather than its rival EE. (http://bit.ly/1DiWqHp)

* Barclays 'may have automated currency rigging'

Barclays Plc and Deutsche Bank AG may have programmed automated trading platforms to systematically rig the currency markets, a U.S. regulator has alleged. (http://bit.ly/1BBJivf)

Sky News

* MPs Summon FCA Bosses Over Insurance Probe

Two British financial watchdog executives who were criticised on Wednesday over the disclosure of a probe into the insurance industry are expected to give evidence on the crisis to a powerful panel of MPs. (http://bit.ly/1wkIaaQ)

* Costa Full Of Beans As Coffee Sales Climb

The owner of the Costa coffee chain has seen its total sales rise by 17 percent in the three months to Nov.27. Whitbread said that it now remains confident of delivering full-year results in line with expectations, with chief executive Andy Harrison describing it as "strong trading momentum". (http://bit.ly/1smOSZY) The Independent

* Google News to close down in Spain

Google News will no longer operate in Spain - ahead of a new law requiring the internet search company to pay Spanish news organisations for linked content or snippets of news. The move marks the first time globally that Google Inc will shut down its news service and comes in response a new Spanish intellectual property law going into effect on Jan.1, dubbed the Google Tax. (http://ind.pn/1yECD27)

* Aston Martin 'selling bonds' to expand super premium car range

Aston Martin is looking to raise more than 100 million pounds from investors to expand its range of luxury sedans, hybrid models and crossover SUVs. (http://ind.pn/1zDc24D) ($1 = 0.6356 pounds) (Compiled by Rama Venkat Raman in Bengaluru)