PRESS DIGEST-British Business – June 21

June 21 (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 retailer Marks & Spencer on Monday named Alex Freudmann as its new food boss, succeeding Stuart Machin, who was promoted to group chief executive last month. https://bit.ly/3QCkNYO

– Online delivery firm Deliveroo on Monday named Scilla Grimble as chief financial officer and said she is expected to start in the role by June 2023. https://bit.ly/3HCpvSt

The Guardian

– Lenders in UK will no longer have to check whether homeowners could afford mortgage payments at higher interest rates after the Bank of England said on Monday that it would withdraw its mortgage affordability test recommendation following a review of the mortgage market. https://bit.ly/3N8CnRe

– British online supermarket and technology group Ocado plans to raise 575 million pounds ($704.55 million)through a placing of new shares to help fund its growth, it said on Monday. https://bit.ly/3y6Xr6y

The Telegraph

– Low-cost airline easyJet said on Monday it was cutting about 10,000 more flights this summer after London Gatwick and Amsterdam airports reduced capacity and it battled staff shortages on the ground and in the air. https://bit.ly/3b861J7

– European countries have launched a new dash for coal amid a battle to keep the lights on in the wake of Russia’s invasion of Ukraine. https://bit.ly/3OlxKVm

Sky News

– Rolls-Royce Holdings is to hand 2,000 pounds in cash to nearly three-quarters of its UK workforce, making it the latest major British employer to try to help staff deal with the intensifying squeeze on living costs. https://bit.ly/3xDdsjj

– UK’s Heathrow airport on Monday asked airlines to cancel 10% of their flights today as the airport faces a baggage backlog. https://bit.ly/3zMoxBf

($1 = 0.8161 pounds) (Compiled by Bengaluru newsroom)