May 4 (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

- Manufacturing is in a period of "deep unease" and suffered its worst month in more than three years in April, as uncertainty grows over the European Union referendum result and demand at home and abroad continues to slow. (http://bit.ly/1TksFbj)

- HSBC Holdings Plc has blamed turmoil in global markets for a drop of nearly a fifth in its profits for the first three months of the year. Despite the fall in profits, HSBC said that there would be no cut to its payouts to shareholders. (http://bit.ly/1TksLQ1)

The Guardian

- The British government has ordered the insolvency watchdog to launch an immediate investigation into the circumstances surrounding BHS's slump into administration. (http://bit.ly/1TktnW3)

- Asda has been ordered by the advertising watchdog to ensure future sales promotions do not mislead consumers about how much they could save, just days after the supermarket chain agreed to change potentially confusing pricing after public criticism by the government's competition regulator. (http://bit.ly/1VJdsXT)

The Telegraph

- UK factory output contracted for the first time in three years in April as concerns about the global economy and troubles on the high street exerted a drag on activity. (http://bit.ly/1VJdzT8)

Sky News

- Britain's biggest payday lender Wonga saw losses double last year as a price cap imposed by regulators, triggered a sharp fall in revenues. Wonga Group recorded a pre-tax loss of approximately 70 million pounds in 2015, compared to 37 million pounds a year earlier. (http://bit.ly/1VJdK0N)

The Independent

- A federal judge in New Orleans Monday allowed BP to drop its bid to avoid paying the second half of $2.3 billion in compensation promised to seafood interests harmed by the blown-out well. (http://ind.pn/1VJdX4b)

(Compiled by Sangameswaran S in Bengaluru; Editing by Peter Cooney)