July 10, 2020 / 12:37 AM / a month ago

PRESS DIGEST-British Business - July 10

July 10 (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

- Deloitte faces a record 15 million pounds ($18.90 million) fine for "serious and serial" failings in its audit of a software company at the centre of one of UK's largest civil fraud cases. bit.ly/2W1dBuY

- Rolls-Royce has burned through 3 billion pounds of cash during the months of the COVID-19 pandemic as it counted the cost of the shutdown of the commercial aviation market. bit.ly/3iMmGS2

The Guardian

- British retailers Boots and John Lewis have announced plans to cut 5,300 jobs and close stores on another bleak day for the UK high street. bit.ly/2W3mJPo

- Gyms, swimming pools and leisure centres will reopen in England within days as part of the government's lockdown easing, with the UK culture secretary Oliver Dowden suggesting "normal life is slowly returning". bit.ly/320Munn

The Telegraph - UK government has turned down the opportunity to join a European Union coronavirus vaccine scheme after ministers expressed concern over "costly delays", The Telegraph reported on Thursday. bit.ly/2ZT9u5c

- UK Treasury is set to borrow half a trillion pounds over two years as the cost of battling the coronavirus and lockdown recession mounts. bit.ly/2OdlHvY

Sky News

- There could be mobile phone blackouts across the UK if the government forces phone companies to strip Huawei out of their networks, network operators have told MPs. bit.ly/2O81VlJ

- A one billion pound plus rescue deal for Virgin Atlantic Airways rests on the outcome of crunch talks taking place in the coming days between the airline and two big payment processors. bit.ly/322cChS

The Independent

- The head of UK's HM Revenue and Customs Jim Harra has told Finance Minister Rishi Sunak he cannot certify his flagship 1,000 pounds job retention scheme as value for money because of uncertainty about its cost and the number of jobs it will save. bit.ly/2ZbOcAu

$1 = 0.7935 pounds Compiled by Bengaluru newsroom

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