PRESS DIGEST-British Business – March 30

March 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 Intu Properties Plc has been criticised for seeking government support after it emerged that its deputy chairman’s property empire had received about 280 million pounds ($348.35 million) in dividends in recent years.

Train operators in Britain are warning privately that they may have to scale back services even further than the drastic cuts imposed already because the spread of coronavirus is stretching their workforce.

The Guardian The coronavirus pandemic could cause UK economic output to plunge by an unprecedented 15% in the second quarter of the year and unemployment to more than double, according to forecasts by analysts at the Centre for Economics and Business Research.

The coronavirus pandemic is expected to lead to the demise of thousands of restaurants, pubs, shopping chains and other high street businesses in UK, despite the government offering unprecedented financial support and changing insolvency rules to give companies more time to pay debts.

The Telegraph Rolls-Royce Holdings Plc is facing a cash flow crisis as the collapse in air travel caused by the coronavirus sees half of its revenues evaporate, leaving the FTSE 100 engineer scrambling for cash.

Sky News Stelios Haji-Ioannou, the billionaire founder of EasyJet Plc is threatening to seek the removal of most of its board members unless it cancels a 4.5 billion pound aircraft order that he warned could threaten its future amid the coronavirus pandemic.

Barclays Plc is close to securing investor support for a new action plan on climate change amid pressure on global banks’ relationships with carbon-polluting companies.

The Independent Britain has been braced to expect a partial lockdown of society “for six months or longer”, following another sharp rise in the number of coronavirus deaths, the deputy chief medical officer has warned. ($1 = 0.8038 pounds) (Compiled by Bengaluru newsroom)


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