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)