PRESS DIGEST-British Business - May 8

May 8 (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

- Britain's trade deal with India will result in a 200 million pounds ($266.90 million) annual tax revenue loss and ease Indian firms' ability to bring workers to the UK, a Treasury analysis found.

The Guardian

- British Steel plans to recruit over 180 workers, with 165 jobs in Scunthorpe and 17 in Teesside and Skinningrove, to boost iron and steel production at its two blast furnaces, marking its first output increase since a government bailout.

- Danish wind power giant Orsted ORSTED.CO has abandoned its Hornsea 4, one of the Britain's largest offshore windfarms off the Yorkshire coast, due to escalating global supply chain costs.

The Telegraph

- U.S. President Donald Trump is set to announce a trade deal with Britain on Thursday morning in the Oval Office, marking a significant win for British Prime Minister Keir Starmer as the first nation to secure an agreement.

- HSBC HSBA.L is bracing for a potential shortage of up to 7,700 desks at its new City of London headquarters near St Paul's Cathedral in 2027, as the bank mandates staff return to the office three days a week.

Sky News

- Modella has advanced to the second stage of bidding for struggling discounter Poundland, among a shortlist of contenders notified in recent days.

- Iran firmly rejected claims that its nationals were involved in an alleged plot to target the Israeli embassy in London, with Foreign Minister Seyed Abbas Araghchi denying any involvement in a statement on X.

The Independent

- Britain is poised to agree on a post-Brexit youth mobility scheme with the EU, a key step toward repairing strained relations, meeting demands from European nations and Brussels to foster closer ties.

($1 = 0.7493 pounds)