PRESS DIGEST-British Business - July 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 Bank of England is pushing ahead with plans to limit the amount of debt hedge funds can take on when buying UK government bonds.
The Guardian
- Britain's financial watchdog said that parts of its proposed £9.1 billion ($12.16 billion) motor finance compensation scheme would be suspended while legal challenges are heard, with proceedings expected in December or February.
The Telegraph
- Cumberland Farms, formerly known as EG Group, said it had confidentially submitted paperwork o the U.S. Securities and Exchange Commission for a public listing that could value the business at about $9 billion.
- Chemicals giant Ineos has accused its U.S. rivals of dumping cheap plastic into the UK market, putting tens of thousands of British jobs at risk.
Sky News
- Google to pay a record €4.1 billion ($4.70 billion)fine after it lost its fight against EU antitrust regulators for using its Android mobile operating system to block rivals.
($1 = 0.7484 pounds)
($1 = 0.8731 euros)
