Oct 16 (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

29 MLN STG PACKAGE HELPS BG TO LURE NEW BOSS

BG Group PLC has been forced to pay top dollar to recruit one of the oil and gas sector's most well-respected figures, Helge Lund from Statoil ASA to lead the company after seven months without a chief executive, offering Lund a package of up to 29 million pounds. (http://thetim.es/100jg55)

PANIC GRIPS INVESTORS AMID VOLATILE MARKETS

Investors succumbed to the biggest bout of jitters since the nadir of the eurozone crisis two years ago, prompting wild swings in equities and government bonds. Volatility took hold and the Dow Jones swung by almost 450 points over the course of a turbulent day. The S&P 500 VIX index has doubled in the space of a fortnight and hit a peak of 31, higher than in the summer of 2012. (http://thetim.es/1yFr8aq)

The Guardian

BANKS FACE CRACKDOWN OVER EU BONUS CAP

Europe's top banking regulator has warned banks they should not hand their staff top-up payments to avoid the EU bonus cap in a move that could have implications for dozens of banks and thousands of bankers. (http://bit.ly/1w9CqRP)

UK UNEMPLOYMENT FALLS TO 6 PERCENT

UK unemployment has fallen below the 2 million mark for the first time since the global financial system was on the brink of collapse six years ago. (http://bit.ly/1w9CkJO)

The Telegraph

SHIRE TAKEOVER HANGS IN THE BALANCE AS 13 BLN STG WIPED OFF SHARES

The 36 billion pounds takeover of Shire Plc was hanging in the balance on Wednesday night after U.S. drugmaker AbbVie Inc said it was reconsidering the deal in the wake of US tax reforms. (http://bit.ly/11pitem)

TATA STEEL TO SELL OFF LONG PRODUCTS BUSINESS, AFFECTING THOUSANDS OF BRITISH JOBS

Tata Steel Ltd is planning to sell its Long Products division, which employs thousands of workers at several sites in the UK. The steel giant said it had signed a Memorandum of Understanding with the Klesch Group, an industrial company which operates across Europe. (http://bit.ly/1sUdvAT)

Sky News

EX-RSA EXECUTIVE MILES TO JOIN TROUBLED WONGA

The chairman of troubled payday lender Wonga is recruiting another former colleague from the insurer RSA Insurance Group Plc. Paul Miles, the chief financial officer of Capquest, a debt recovery firm, will join Wonga to take on the same role. (http://bit.ly/1sffYUM)

SAINSBURY'S ENDURES BACKLASH ON NECTAR CUTS

J Sainsbury Plc's customers have threatened to shop elsewhere after the supermarket chain confirmed it was planning cuts to its Nectar reward points. (http://bit.ly/1w9ihcF)

The Independent

UBER RIVAL HAILO QUITS NORTH AMERICAN BUSINESS

Taxi hailing app Hailo is to pull out of North America as the London-based company struggles to make a profit amid "astronomical" marketing costs. (http://ind.pn/1vxagkW)

BALFOUR BEATTY NAMES LEO QUINN NEW CHIEF EXECUTIVE

Balfour Beatty has appointed a new chief executive just weeks after fending off a takeover by rival Carillion Plc . Leo Quinn is poised to join in January after five years as group chief executive of defence research firm QinetiQ, following four years as the boss of banknote printer De La Rue. (http://ind.pn/1zbRX7k) (Compiled by Rishika Sadam in Bangalore)