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PRESS DIGEST- British Business - April 9

·2-min read

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

- Britain's biggest retailer Tesco has defended its decision to hand investors a total £900 million ($1.11 billion)in dividends despite taking £585 million ($724.64 million) from the government's business rates relief holiday.

- Sir Stelios Haji-Ioannou, founder and the largest shareholder in Easyjet, has stepped his attack on the board of the airline by saying that he will "personally sue those scoundrels" if they go ahead with a multibillion-pound order to acquire more than a 100 new aircraft from Airbus.

The Guardian

- European aircraft manufacturer Airbus is to slash the number of planes it builds by a third, amid expectations that the coronavirus pandemic will continue wreaking havoc on global aviation long after travel restrictions are eased.

- British Prime Minister Boris Johnson's plan to seal a deal with Brussels on the future relationship with the UK by the end of December has been described as "fantasy land" by EU officials, as a leaked letter revealed the scale of the bloc's inability to function during the coronavirus pandemic.

The Telegraph

- The bosses of Britain's biggest banks HSBC Holdings Plc , Lloyds and Natwest owner Royal Bank of Scotland are taking multi-million pound pay cuts in recognition of the struggle faced by their customers as a massive recession strikes.

- British broadcaster Channel 4 will slash its programming budget by £150 million ($185.81 million) and other costs by a further £95 million ($117.68 million) in a bid to survive a collapse in advertising due to the coronavirus crisis.

Sky News

- British accounting firm KPMG's UK partners were notified earlier this week that they could see their 2020 pay packages reduced by around 25% as a result of the COVID-19 pandemic.

- British supermarket group Sainsbury's has lifted buying restrictions on "thousands" of products to help those shopping for vulnerable people who are unable to leave the house due to the coronavirus outbreak. ($1 = 0.8073 pounds) (Compiled by Bengaluru newsroom)