PRESS DIGEST-British Business – June 30

June 30 (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 Financial Conduct Authority lifted restrictions on the UK arm of Wirecard late last night, releasing hundreds of millions of pounds of people’s money.

– BP has bolstered its balance sheet through a surprise $5 billion deal to offload its petrochemicals business to billionaire Jim Ratcliffe’s Ineos.

The Guardian

– The private equity owners of the burger chain Byron are preparing to place the company into administration in the hope of attracting a bidder to buy parts of the business in a so-called pre-pack administration.

– Two UK watchdogs have warned pharmacies they should not be overcharging customers for in-demand items including face masks, hand sanitiser and paracetamol.

The Telegraph

– UK Treasury is set to borrow another 50 billion pounds in August as it races ahead with a record debt spree to fight the coronavirus crisis and plug a collapse in tax revenues.

– UK Finance Minister Rishi Sunak is to lead the newly-formed National Space Council as the UK attempts to position itself at the forefront of space technology, The Telegraph can reveal.

Sky News

– UK government will become the top-ranking creditor to the country’s operations of a Cardiff-based steel producer Celsa under a 30 million pounds loan deal to be announced this week.

– Waitrose says it is to open a third warehouse in London to cope with surging demand for grocery deliveries in the capital amid the continuing COVID-19 pandemic.

The Independent

– The NHS faces a possible exodus of doctors before the second wave of coronavirus arrives, a leader of the British Medical Association has warned – with Brexit making it harder to replace them.

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