PRESS DIGEST- British Business - Nov 26

Nov 26 (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

George Osborne has scrapped a flagship 4.4 billion stg plan to slash tax credits in his biggest U-turn since becoming chancellor. (http://thetim.es/21gK7ot)

Holidaymakers are refusing to give in to terrorist outrages and abandon their plans for breaks in the sun, Britain's oldest tour operator said yesterday. (http://thetim.es/1T5lzZI)

The Guardian

Banking is reaching its "Uber moment" as technological advances will lead to hundreds of branch closures and a possible halving of people employed in the sector, the former chief executive of Barclays Plc has warned. (http://bit.ly/1kTgtVR)

The Treasury's independent forecaster has conceded there are big uncertainties in its predictions for higher tax revenues after the chancellor used the prospective windfall to justify a softer pace of cuts in his autumn statement. The Office for Budget Responsibility said it now expects more money to flow into government coffers from income taxes, corporation tax and VAT than it did at the time of its last forecasts. (http://bit.ly/1TfFGFl)

The Telegraph

A 1 billion stg competition to develop Britain's first carbon capture and storage power plant has been scrapped, the British Government has announced. (http://bit.ly/1NPKXi0)

The cost of High Speed 2 has risen to more than 55 billion stg, although the controversial rail link between London and the North is one of a host of projects set to share in a 50 pct increase of investment in transport infrastructure. (http://bit.ly/1LAv1i3)

Sky News

Lloyds Banking Group will unveil plans to cut another 1,000 jobs on Thursday in the latest phase of the state-backed lender's restructuring. (http://bit.ly/1Xrk1dK)

The embattled payday lender Wonga will this week begin testing a 90-day loan which allows customers greater flexibility to spread repayments over a longer period. (http://bit.ly/1Ndo5wM)

The Independent

George Osborne has launched an attack on Middle England's landlords with an extra 3 percent surcharge on stamp duty charged on buy-to-let properties and second homes. (http://ind.pn/1Os15cq) (Compiled by Rishika Sadam in Bengaluru; Editing by Sandra Maler)

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