Business PRESS DIGEST-British Business

Business PRESS DIGEST-British Business


July 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

– Britain’s Casual Dining Group said that 91 of its 250 restaurants had been closed with immediate effect after the appointment of administrators from Alix Partners.

– Britain is in talks with a 185 billion pound ($230.60 billion) United Arab Emirates sovereign wealth fund about investing millions into a British offer for Oneweb, the bankrupt satellite operator.

The Guardian

– Britain has provided an emergency loan to the British arm of Celsa Steel in the first taxpayer-funded bailout under its “Project Birch” scheme for firms struggling during the coronavirus crisis.

– UK’s Luton airport is to make up to 250 staff redundant in the latest jobs cull in the aviation sector.

The Telegraph

– British retailer Marks and Spencer Group Plc has revamped its Sparks loyalty scheme allowing seven million users to shop “for free” after the scheme was criticised for being too confusing.

– Germany’s top financial regulator branded the accounting scandal at Wirecard AG a “massive criminal act” as the country’s authorities face a backlash over their failure to prevent the payments firm’s spectacular collapse.

Sky News

– IT consulting firm Accenture Plc is to cut up to 900 UK jobs, blaming “additional strain” on the business caused by the coronavirus crisis.

– Italian restaurant chain Prezzo has begun exploring a sale as it seeks new backers to enable it to survive the coronavirus crisis.

$1 = 0.8022 pounds
Compiled by Bengaluru newsroom

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