March 18, 2020 / 1:47 AM / 4 months ago

PRESS DIGEST- British Business - March 18

March 18 (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 coronavirus outbreak has tipped Laura Ashley over the edge, prompting the struggling retailer to call in administrators in a move that puts 2,700 jobs at risk.

- Europe's biggest bank, HSBC Holdings Plc on Tuesday appointed its interim boss, Noel Quinn, as its new chief executive officer, after a seven-month search and having approached several external candidates.

The Guardian

- British finance minister Rishi Sunak has announced a 350 billion pound ($423.89 billion) package of loans and grants to help Britain cope with the lockdown of large parts of the economy, as he warned the country was facing a threat to its prosperity unmatched in peacetime.

- Online retail giant Inc is stopping sellers from sending non-essential items to its UK and U.S. warehouses until April 5, to make space for vital items needed by its customers during the coronavirus outbreak.

The Telegraph

- Nissan Motor Co Ltd said it was suspending work at its Sunderland plant as it "assessed supply chain disruption and the sudden drop in market demand caused by the COVID-19 emergency".

- Dixons Carphone Plc is axing 3,000 jobs under plans to shut all 531 of its mobile-only Carphone Warehouse stores, it said on Tuesday.

Sky News

- UK Supermarkets are working on plans to cut cafes, counters and other services to enable a depleted workforce to maintain basic provisions, according to industry sources.

- UK's biggest outsourcers have been told by the government to prepare for a wave of COVID-19 triggered absenteeism among teams responsible for working on critical national infrastructure projects.

The Independent

- UK phone networks suffered from a major outage on Tuesday, with customers from EE, O2, Vodafone, Three and GiffGaff all reporting issues as millions of workers across the country stayed home to work under government guidelines to prevent the spread of the COVID-19 coronavirus.

$1 = 0.8257 pounds Compiled by Bengaluru newsroom

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