Feb 5 (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
ECB TAKES HARD LINE ON GREEK DEBT PLAN
The Greek government's well-received tour of European capitals came to an abrupt halt Wednesday night when the European Central Bank revoked a waiver that allowed banks to use Greek government debt as collateral for loans. The ECB also said it was no longer able to assume that there would be a successful conclusion to the Greek government's bailout talks with its lenders - the troika of the International Monetary Fund, the European Union and the ECB. (http://thetim.es/1xkZ4na)
BRITAIN WILL FACE TOUGHEST SPENDING CUTS OF ANY MAJOR ECONOMY, SAYS IFS
The government's austerity programme will see Britain face the toughest spending squeeze of any major economy over the next five years, according to a leading tax think tank. In an analysis of the economic problems facing the next government, the Institute for Fiscal Studies said that under the coalition's current spending plans, the United Kingdom's fiscal consolidation over the next parliament will be the largest out of 32 advanced economies. (http://thetim.es/1zBuwlg)
The Guardian
GREEK MINISTER FLIES TO GERMANY FOR SHOWDOWN OVER DEBT REPAYMENTS
Greece's newly installed leftwing government is heading for a showdown with German leaders over plans to cut the debt repayments due from Athens this summer. The Greek finance minister, Yanis Varoufakis, flew to Berlin to prepare for meetings on Thursday with his German counterpart, Wolfgang Schäuble. At the end of a four-day whistlestop tour of European capitals, he claimed he now had widespread support for his debt relief proposals. (http://bit.ly/1C1Ziol)
GLAXOSMITHKLINE SEEKS ADVICE ON FLOATING HIV DIVISION
GlaxoSmithKline Plc has appointed investment banks to advise on a potential part-flotation of its HIV division as the drugmaker seeks to move on from a gruelling year in 2014. GSK has hired Citi, Goldman Sachs and Morgan Stanley as advisers on an initial public offering for ViiV Healthcare, which analysts have said could be valued at around 15 billion pounds ($22.76 billion). (http://bit.ly/1F7vuHP)
The Telegraph
ECB TIGHTENS THE SCREW ON GREECE WITH PLAN TO CUT FUNDING EARLIER
The European Central Bank has increased the pressure on Greece by banning the debt-stricken country from using its bonds as collateral for cash. Officials at the eurozone central bank have said a waiver that allowed Greece to swap its junk-rated debt for money would expire on Feb. 11. The move means Athens will now have to provide its banks with tens of billions of euros of additional emergency liquidity in the coming weeks almost certainly at less attractive interest rates. (http://bit.ly/1zSPmjn)