PRESS DIGEST-British Business – June 26

June 26 (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

– Huawei has won planning permission to build a new research hub in Cambridgeshire and announced it will double its initial investment to 1 billion pounds ($1.24 billion).

– The industrial dispute between Royal Mail and unions over restructuring has intensified after the struggling postal company outlined plans to axe about 2,000 jobs this financial year.

The Guardian

– British Airways has told its longest-serving cabin crew they will have to take a 20% basic pay cut and change working patterns if they are to be retained, as it prepares to lay off up to 30% of its workforce.

– Wellington Pub Company, owned by the billionaire Reuben brothers, has been accused of pushing its tenants towards bankruptcy by refusing to cut rents due on premises closed because of the COVID-19 pandemic.

The Telegraph

– German payments titan Wirecard has filed for insolvency after an accounting catastrophe, piling pressure on the country’s regulators and threatening to tarnish its reputation as a financial hub.

– Boris Johnson was on Thursday under pressure to open air bridges to the whole of Europe at once, as he prepared to announce “dozens” of countries will be exempted from the 14-day quarantine.

Sky News

– Lufthansa shareholders have backed a 9 billion euro ($10.10 billion) government rescue package to secure the future of Germany’s flagship airline.

– Former bosses of Redcentric, an IT software provider, are to face criminal proceedings brought by the City watchdog, it will announce on Friday when it concludes a long-running investigation into the company’s finances. ($1 = 0.8050 pounds) ($1 = 0.8913 euros) (Compiled by Bengaluru newsroom)

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