PRESS DIGEST-British Business – July 3

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. bit.ly/2D5OArR

– 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. bit.ly/2D7WUHH

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. bit.ly/2ZBeOKc

– UK’s Luton airport is to make up to 250 staff redundant in the latest jobs cull in the aviation sector. bit.ly/2ZunUIR

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. bit.ly/3ik0BtT

– 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. bit.ly/3gpmJkP

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. bit.ly/31GbkbV

– Italian restaurant chain Prezzo has begun exploring a sale as it seeks new backers to enable it to survive the coronavirus crisis. bit.ly/2ZBgtiU

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