PRESS DIGEST-British Business - February 28

Feb 28 (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

- UK's online supermarket Ocado Group OCDO.L is to axe a further 500 jobs as it scales back its research and development workforce amid a challenging outlook for its automated grocery warehouse business.

- British insurer Aviva's AV.L CEO Amanda Blanc has insisted that climate change remains "critical" for the insurer, despite a wider backlash against net-zero initiatives in the financial sector and its own problems hitting green targets.

The Guardian

- Energy firm Drax Group DRX.L will slow its investment in carbon capture to reduce its emissions, despite securing an extra three years of government subsidies and earning record profits above 1 billion pounds ($1.26 billion) last year.

- Two of Britain's museums, the British Museum and the Science Museum, have been forced to defend their financial ties to BP BP.L after the company announced this week that it was abandoning its climate targets to focus on growing fossil fuel production.

The Telegraph

- Britain's stock market can survive the wave of companies quitting to move to New York, the head of the London Stock Exchange Group LSEG.L (LSEG) David Schwimmer has said.

- Shell SHEL.L is exploring making natural gas from hydrogen to ship to countries around the world amid fears that surging demand in China will leave Europe short of supplies.

Sky News

- UK's government has signalled that plans to bring a second runway at Gatwick into regular use will get the green light if environmental conditions are met.

- The former chair of the Co-op Bank, Paul Flowers, has been jailed for three years on fraud charges.

($1 = 0.7945 pounds)