PRESS DIGEST-British Business - July 3 - Reuters - 2 minutes read

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.

Source: Reuters

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