July 27 - 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

HEDGE FUNDS LINE UP CO-OP'S BANK STAKE

Several American hedge funds are understood to be considering making an offer for the Co-operative Bank as they explore a potential future sale or merger of the business with one of Britain's growing band of challenger banks.

WALL ST RAIDER PILES INTO 1 BLN STG BATTLE FOR BWIN

GVC Holdings Plc, an online gambling company listed on AIM, the junior London stock market, is understood to have joined forces with Cerberus Capital Management to launch a new offer for Bwin, the owner of Foxy Bingo. (http://thetim.es/1DHQNxZ)

The Guardian

SCOTLAND YARD TO BECOME LUXURY HOTEL IN 110M STG DEVELOPMENT

The original Scotland Yard police station is to be turned into a new five-star luxury London hotel with rooms costing up to 10,000 pounds ($15,521.00) a night under a 110-million-pound ($170.73-million) deal involving Galliard Homes and Dubai-based developer Yusuffali Kader. (http://bit.ly/1DHPU8G)

MORRISONS BUYERS DEMANDED ONE-OFF PAYMENTS FROM SUPPLIERS

Buyers at WM Morrison Supermarkets Plc have attempted to secure one-off payments from about 20 suppliers in a potential breach of a government-backed code, with only "a handful" blocked by the supermarket's legal team. (http://bit.ly/1DHR582)

The Telegraph

TESCO ABANDONS THREE TIMES AS MANY SUPERMARKETS AS ITS RIVALS

Tesco Plc has abandoned three times as many new supermarket sites as all of its rivals put together over the last five years in a fresh sign that the "space race" is over, according to figures complied by Barbour ABI exclusively for The Telegraph. (http://bit.ly/1DHQqDu)

Sky News

APAX, GMG TO HIT JACKPOT WITH TOP RIGHT SALE

Sky News has learnt that Apax Partners, the private equity firm which acquired control of Top Right Group in 2008, has asked investment banks to pitch for the mandate to advise on options for offloading the company. (http://bit.ly/1gXzh3R)

1.8 BLN STG 'WASTED' ON NHS REDUNDANCY PAYMENTS

The Department of Health has been accused of "spending money like confetti" on NHS redundancy payments. Figures reveal redundancy payoffs amounted to nearly 2 billion pounds ($3.10 billion) during the Government's restructuring programme over the last five years. (http://bit.ly/1DHRl72)

The Independent

GREECE DEBT CRISIS: HUMBLED ATHENS STARTS TALKS ON BAILOUT WITH HATED 'TROIKA'

Greece will begin delayed negotiations on a third bailout totalling 85 billion euros ($93.22 billion) on Tuesday, months after its left-wing leadership swore not to deal with the hated "troika" of its international creditors. (http://ind.pn/1DHRJCw)

($1 = 0.6443 pounds) ($1 = 0.9118 euros) (Compiled by Ismail Shakil in Bengaluru; Editing by Eric Walsh)