June 16, 2020 / 1:25 AM / a month ago

PRESS DIGEST- British Business - June 16

June 16 - 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

- More than a thousand jobs are to go at Jaguar Land Rover after the carmaker fell to a 501 million pounds ($632.66 million) pre-tax loss in the first three months of the year. bit.ly/2N09Ukj

- Amanda Staveley has claimed that she told a top Barclays executive in their very first talks that she was seeking to put together a syndicate of investors to rescue the bank during the financial crisis. bit.ly/3dbFXII

The Guardian

- Deliveroo and the bosses of major chains including Pizza Hut, Pret a Manger, Itsu and Wagamama have asked British Prime Minister Boris Johnson for urgent support to prevent mass closures, as physical distancing rules threaten the future of the restaurant industry. bit.ly/2UMX9Oc

- Travis Perkins, the builders' merchant, is cutting 2,500 jobs in the UK, almost a 10th of its workforce, and closing 165 stores as it expects weaker demand for materials in the next two years in the wake of the Covid-19 pandemic. bit.ly/3e6ktOA

The Telegraph

- Britain's Foreign secretary Dominic Raab has weighed into the political row over HSBC's backing of a crackdown in Hong Kong by warning that the UK government "will not sacrifice the people of Hong Kong over the altar of banker bonuses". bit.ly/3d9v3Tr

Sky News

- Investment firms, Elliot and Greybull Capital, which have been examining offers to help finance a rescue of Virgin Atlantic Airways are in talks about a joint bid for a stake in the carrier founded by Sir Richard Branson. bit.ly/3hsbPfv ($1 = 0.7919 pounds) (Compiled by Bengaluru newsroom)

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