PRESS DIGEST-British Business - February 3

Feb 3 (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

A group of Britain's largest public sector pension funds has called on BP BP.L to justify how a sharp rise in spending on new oil and gas projects will help to deliver a turnaround in the company's performance before the arrival of its new boss.

The board of CAB Payments CABP.L has rejected a takeover bid by Helios Investment Partners, which floated it on the London Stock Exchange at a $1 billion valuation two and a half years ago.

The Guardian

U.S. President Donald Trump claimed India has agreed to stop buying Russian oil as he announced plans to cut tariffs on Indian exports.

British investor Michael Flacks is reportedly "very" interested in buying British Steel and combining it with another plant in Italy.

The Telegraph

Elon Musk's SpaceX has acquired his social media and artificial intelligence business xAI in a $1.25 trillion deal.

Sky News

Peter Jones is in advanced talks to buy American Golf from Endless, its long-standing private equity backer.

The Independent

Losses at Costa Coffee KO.N have more than doubled to 13.5 million pounds ($18.46 million) for 2024 as it struggles to compete with cheaper rivals.

Restaurant group Various Eateries VAREV.L has said it is considering merger and acquisition deals to help drive further growth after revealing stronger profits.

($1 = 0.7314 pounds)