PRESS DIGEST-British Business – July 6

July 5 (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

– British Finance Minister Rishi Sunak has drawn up proposals to exempt most homebuyers from paying any stamp duty under plans to kick-start Britain’s economic recovery.

– Royal Dutch Shell Plc has hinted that it may move its headquarters from the Netherlands to the UK as it tries to simplify its complex capital structure.

The Guardian

– British banks are preparing a code of conduct for pursuing businesses that default on taxpayer-backed coronavirus loans, amid industry estimates that up to eight out of 10 borrowers could fail to repay in full.

– Rishi Sunak considers to give all adults 500 pounds ($623.85)and children 250 pounds ($311.93)in vouchers to spend in sectors of the economy worst hit by the COVID-19 crisis.

The Telegraph

– UK Treasury and British Business Bank officials are reviewing access to state-backed loan schemes after the European Union relaxed state aid rules.

– The boss of Essar Oil UK has quit in mysterious circumstances less than six months after being appointed as head of the business that owns one of the country’s biggest oil refineries.

Sky News

– British companies will be paid 1,000 pound bonuses by the government to hire young people as trainees.

– Britain has promised an emergency aid of 1.57 billion pounds in cash and grants to the nation’s arts sector.

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