PRESS DIGEST- British Business - Feb 24

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

* Time Inc, the owner of world-famous magazines including Time, People, Sports Illustrated and Fortune, is understood to be exploring a bid for the core businesses of Yahoo Inc (http://thetim.es/1PXuTyQ)

* The London Stock Exchange Group PLC confirmed yesterday that it is in talks with a German rival over a 20 billion pounds ($27.99 billion) merger to create one of the largest market operators. Shares in the FTSE 100 company closed up by more than 13 per cent as investors bet on a possible bidding war for the LSE, which has had detailed negotiations with the Frankfurt-based Deutsche Börse. (http://thetim.es/1TxPYlP)

The Guardian

* Britain is setting a dangerous precedent by undermining human rights and contributing to a worldwide "culture of impunity", Amnesty International has said in its annual report on the state of human rights. Plans to scrap the Human Rights Act, the UK's absence from EU refugee resettlement schemes, proposed new spying laws and the alleged downgrading of human rights as a Foreign Office priority in favour of commercial deals are all cited by the group as evidence of a trend. (http://bit.ly/1QwSDXJ)

* George Osborne's pension overhaul could trigger the next major wave of mis-selling claims, according to a report by the public spending watchdog. The National Audit Office has highlighted concerns that freedoms introduced last April, which allowed pensioners to cash in their savings, could lead to widespread exploitation. (http://bit.ly/1S02dHR)

The Telegraph

* London's greatest strength is its access to the single market of the European Union, according to the capital's business leaders. 95 percent of bosses polled by the Confederation of British Industry (CBI) and real estate firm CBRE said that London's access to European markets was its biggest strength. The surveyed business leaders represented companies with around 471,000 employees. (http://bit.ly/1oFUqDU)

* Britain must stay in the European Union so it can protect itself from "grave security threats" caused by Isil and Russia, some the country's most senior former military commanders say. In a letter to The Telegraph, 13 former Armed Forces chiefs say that they "believe strongly that it is in our national interest to remain an EU member". (http://bit.ly/1ozSegv)

Sky News

* The maker of Mars and Snickers has recalled chocolate bars in 55 countries after pieces of plastic were found in its products. In the UK, Mars Funsize and Milky Way Funsize bars, Snickers Miniatures, some variety packs and Celebrations boxes with best before dates ranging from 8 May 2016 and 2 October 2016 are affected by the recall, and should not be eaten. (http://bit.ly/1QvPhEi)