PRESS DIGEST- British Business – June 3

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

– The finance director of Tesco Plc, who helped turn around Britain’s biggest retailer from the depths of an accounting scandal, is to retire, leading to a new top executive team next year.

– Britain’s biggest builder of retirement homes is preparing to re-open sales offices next week as it seeks to shift 1,350 completed homes on its books.

The Guardian

– The UK’s fishing industry has accused the EU of using a “nuclear option” to secure a Brexit deal, warning that it is prepared for blockades by the French if trade talks collapse.

– EasyJet Plc has announced plans to restart flights across the majority of its routes this summer, with holiday flights from all its UK airports in July and August.

The Telegraph

– British Airways has asked thousands of workers to take pay cuts and accept new conditions or face losing their jobs.

– P&O Cruises has admitted it will not set sail again until October 15 as the coronavirus pandemic continues to rip into the travel and leisure industries.

Sky News

– Travelodge, the budget hotel group, will on Wednesday launch a formal restructuring plan on which it will argue the fate of 10,000 British hospitality industry jobs depend.

– The owner of the McLaren Formula One (F1) team has bolstered its line-up of City advisers amid tense negotiations with bondholders about the company’s future.

The Independent

– The Northern Ireland Assembly has passed a motion calling on the UK government to request an extension to the Brexit transition period in the wake of the “extreme challenges” posed by the coronavirus pandemic.

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