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

July 1 (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

- Catering group SSP Group Plc said a 45-day collective consultation on a proposed reorganisation that it estimated could lead to as many as 5,000 roles becoming redundant in its head office and British operations.

- British department store chain John Lewis told staff that it plans to cut jobs, shut more stores and slash its much-prized employee bonus to zero.

The Guardian

- Virgin Group founder Richard Branson is to inject 200 million pounds ($249.24 million) into Virgin Atlantic to help it survive the devastating effect of coronavirus on air travel.

- Ryanair Holding Plc's British pilot union said that pilots have agreed to take a 20% pay cut as part of efforts to avoid up to 3,000 job cuts.

The Telegraph - Chairman of Britain's largest retailer, Tesco Plc, is to oversee a new COVID-19 economic recovery commission, which will be endorsed by the Chancellor when it is launched on Friday.

- UK's foreign secretary Dominic Raab has launched a fresh broadside against HSBC Holdings Plc over its support for a crackdown in Hong Kong.

Sky News

- Luxury British department store Harrods told staff it needed to cut up to 14% of its 4,800 workforce.

Source: Reuters

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