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PRESS DIGEST- British Business - Jan 23

Jan 23 (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

Eurozone borrowing costs dived to record lows, the euro fell and shares were pushed higher yesterday in a "textbook reaction" to the European Central Bank's landmark 1.1 trillion euros ($1.25 trillion) stimulus package. Although prices moved favourably as traders cheered the bigger-than-expected move, many remained sceptical that the money-creation splurge would be enough to pull the 19-nation eurozone out of its economic paralysis. (http://thetim.es/1CnLkOY)

George Osborne has told corporate bosses that he can transform Britain into the "go-to western economy" for business if the Tories are re-elected. At a private breakfast with chief executives in Davos, the chancellor said he was committed to more structural reforms, including to the labour market to make it easier for companies to hire and fire. (http://thetim.es/1t3BCzh)

The Guardian

The American private equity fund KKR & Co LP has bought the British train ticket website thetrainline.com, derailing its planned float on the London stock market. Trainline was one of the first companies of the year to announce an initial public offering, which a source familiar with the deal said could have valued the firm at more than 500 million pounds ($750.30 million). (http://bit.ly/1CjT6Jn)

The Duke of York has publicly denied allegations he had underage sex with an American teenager, reiterating and reaffirming previous Buckingham Palace statements rebutting the claims. Prince Andrew's first public response to the claims was made as he addressed an annual reception for 200 guests at the World Economic Forum in Davos, Switzerland. (http://bit.ly/1y4JgVq)

The Telegraph

David Cameron has said a radical transfer of tax-raising powers is the right long-term "resting place" for Scottish devolution as he dismissed Scottish National Party complaints the plans had been watered down and did not go far enough. (http://bit.ly/186PjEe)

Hong Kong tycoon Li Ka-shing is to create a new leader in Britain's mobile phone industry after agreeing to buy O2 for more than 10 billion pounds. Telefonica SA, the owner of O2, will announce a merger with Li's Hutchison Whampoa Ltd on Friday morning. (http://bit.ly/1CjXubt)

Sky News

Npower will become the fourth of Britain's six biggest energy companies to cut gas prices as pressure intensifies on suppliers to pass on the benefit of falling wholesale prices. Sky News has learned that Npower, which is owned by the German utility group RWE AG, will announce that it is cutting its standard gas tariff by more than 5 percent, making it the largest reduction unveiled during the current round of cuts. (http://bit.ly/1Je1GeO)

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