Business PRESS DIGEST-British Business

Business PRESS DIGEST-British Business


July 7 (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

– The Financial Reporting Council told the so-called Big Four accountancy firms to seal off their audit practices under a package of reforms that has been criticised for not going far enough to salvage the industry’s reputation.

– Pret a Manger will cut 1,000 jobs and close 30 of its 410 UK shops permanently as part of a restructuring.

The Guardian

– Lloyds Banking Group chief executive, António Horta-Osório, is to step down next year after a decade-long tenure.

– Anti-gambling charity GambleAware has called on banks to improve card blocking systems introduced to help those whose gambling is out of control after it emerged 40% of current accounts offer no help in this area.

The Telegraph

– Aviva Plc Chief Executive Officer Maurice Tulloch will step down from his role at the company after only 16 months.

– Tesla Inc will supply its high-capacity batteries and Autobidder control software, to a new energy storage plant in Dorset, in the firm’s first major foray into the British power industry.

Sky News

– Boohoo Group Plc will investigate one of its suppliers in Leicester over claims staff have been made to work for less than minimum wage.

– Pilots’ union BALPA has told members it has reached an outline deal with British Airways management about job cuts and changes to pay and conditions.

Compiled by Bengaluru newsroom

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