Oil and Gas

PRESS DIGEST- British Business - June 1

June 1 (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

- Boris Johnson is examining options to boost state investment into domestic telecoms companies to help them compete in the 5G technology market, The Times understands.

- Royal Bank of Scotland Group has been accused of using manipulated evidence in court to defend itself against accusations related to its notorious Global Restructuring Group.

The Guardian

- Manufacturing industry leaders have called on the government for an emergency bailout as the coronavirus outbreak forces factories across Britain to an effective standstill.

- Global commodities trader Trafigura is under investigation by U.S. authorities for alleged corruption and market manipulation relating to oil trading, the Guardian has learned.

The Telegraph

- Embattled car dealer group Lookers Plc will this week announce findings of an internal investigation into potential fraud unearthed at the business, as well as update on plans to overload showrooms in an attempt to strengthen its balance sheet.

- Shoe chain Aldo is the latest retailer to collapse during the pandemic in the UK just weeks after its Canadian parent company sought creditor protection abroad.

Sky News

- The buyout firm Warburg Pincus will this week ride to the rescue of a 1.8 billion pound merger of two leading wealth management groups, paving the way for the completion of one of the UK's biggest corporate deals of the year.

- Jeff Bezos, the Amazon founder who has amassed a fortune large enough to see him crowned the world's richest person, is to invest part of his wealth in a British technology start-up which wants to become a global logistics titan.

The Independent

- Tom Watson, the former deputy Labour leader, is one of three people nominated by Jeremy Corbyn to have had their peerages blocked by the independent watchdog, The Independent has learnt.

Compiled by Bengaluru newsroom