May 7, 2020 / 1:37 AM / 20 days ago

PRESS DIGEST-British Business - May 7

May 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

UK's biggest banks are on course to report up to 25 billion pounds ($30.79 billion) of loan losses this year due to surge in borrower defaults, credit rating agency Fitch has warned. bit.ly/3bhFoMx

British broadcaster ITV Plc said on Wednesday that it had temporarily laid off 800 workers, or 15% of its workforce in Britain, after it suspended most of its productions and advertisers cut spending. bit.ly/2xGpsFL

The Guardian

UK Finance Minister Rishi Sunak held talks with nine of Britain's union leaders to try to reassure them plans to phase out the government's furlough scheme will be gradual and minimise the impact on unemployment. bit.ly/35E0GT6

British department store group Debenhams will permanently close a further five of its department stores, all located in shopping centres owned by the property firm Hammerson Plc , putting 1,000 jobs at risk. bit.ly/35C3NuI

The Telegraph

UK's National Health Service (NHS) has tasked Swiss company Zuhlke to "investigate" if it can switch its contact-tracing app over to the global standard proposed by Apple Inc and Google. bit.ly/3b66INn

Sky News

Goldman Sachs Group Inc is in talks to buying a big portfolio of company stakes being sold by the asset manager Invesco in a race to shift illiquid holdings whose value has been hit by the coronavirus pandemic. bit.ly/2zXUXM7

British fashion retailer White Stuff told sales and head office staff it was opening consultation on potential job cuts on Wednesday as it prepares for a reduction in demand and opening hours due to the coronavirus outbreak. bit.ly/2WbJQIj

$1 = 0.8119 pounds Compiled by Bengaluru newsroom

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