PRESS DIGEST-British Business - July 9 - Reuters - 2 minutes read

July 9 (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 Competition and Markets Authority censured Lloyds Banking Group Plc, Nationwide, which is Britain's biggest building society, and Cardif Pinnacle, an insurance subsidiary of BNP Paribas, for failing to send annual reminders to customers with protection insurance policies.

- The Financial Reporting Council has fined Grant Thornton almost 2 million pounds ($2.52 million) for repeated breaches of ethical standards.

The Guardian

- FirstGroup Plc, the UK's largest bus company and operator of rail franchises, said that it may not be able to continue trading because of the impact of the coronavirus on its business.

- Ryanair Holdings Plc has agreed to keep on all UK-based cabin crew in return for pay cuts, according to unions.

The Telegraph

- Calls for an inquiry have mounted after after the Treasury revealed that it has spent 15 billion pounds on personal protection equipment amid scrutiny of the U.K. government's procurement process.

- Boohoo Group Plc has hired independent specialists and launched a sweeping investigation of its supply chain in the wake of sweatshop allegations.

Sky News

- Richard Baker's BD-Capital will announce a deal with probiotics manufacturer Symprove on Thursday.

- Chancellor Rishi Sunak unveiled a 30 billion pound package of measures to tackle the coronavirus crisis, which includes an eating out discount, jobs bonus scheme and stamp duty cut. ($1 = 0.7928 pounds) (Compiled by Bengaluru newsroom)

Source: Reuters

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