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PRESS DIGEST-British Business - May 15

May 15 (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

BP Plc has rebuffed an appeal from its pension trustees to increase payouts to help thousands of retired staff to manage the "challenging set of circumstances" raised by the energy crisis from which it has generated record profits.

The Guardian

U.S.-based thinktank Carbon Tracker Initiative said that asset managers have invested $376 billion in oil and gas companies, despite publicly pledging to back efforts to limit global temperature rises to 1.5C.

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The Telegraph

The Bank of England is preparing to water down changes to its post-crisis rulebook after lenders warned plans to raise bank buffers will strangle small businesses and harm the economy.

Sky News

Smart, a retirement savings platform which previously secured backing from Legal & General will this week unveil a $95m fundraising led by New York-based private equity investor, Aquiline Capital Partners.

The Irish government is being pressed to clarify details of a decades-old secret agreement with the United Kingdom for RAF aircraft to help defend Irish airspace in an emergency.

The Independent

Flights from Gatwick Airport were halted on Sunday due to reports of drone activity close to the airspace and at least 12 inbound flights were diverted away from the airport while an investigation took place into the suspected drone. (Compiled by Bengaluru newsroom)