PRESS DIGEST-British Business – July 9

July 9 (Reuters) – The following are the top stories on the business pages of…

July 9 (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

– Cairn Energy Plc has stepped up its dispute with the Indian government by effectively seizing control of 20 properties in Paris. The action is part of the oil group’s efforts to get Narendra Modi’s administration to pay about $1.7 billion relating to a historical tax claim.

– Fears that the reopening of pubs and restaurants would take a big bite out of Deliveroo Plc’s takings proved wide of the mark as the food delivery group upped its full-year guidance.

The Guardian

– The European Central Bank has overhauled its rulebook to allow for the expansion of its unprecedented stimulus programme in a direct rebuff to German politicians concerned that printing billions of extra euros this year will spark an inflationary spiral.

– Lloyds Bank’s insurance arm has been fined 90 million pounds ($124.08 million) for sending insurance renewal letters to customers suggesting they were getting a “competitive price” without backing up the claim.

The Telegraph

– BT has struck a peace deal with the Communications Workers Union that will avoid strike action and ensure the rollout of superfast broadband is not interrupted.

– Dame Natalie Massanet, the founder of the luxury fashion website Net-a-Porter, has become a director of Aston Martin as part of a shake-up designed to help restore the carmaker’s upmarket credentials and meet requirements to have more women in the boardroom.

Sky News

– Competition and Markets Authority’s chief executive Andrea Coscelli of the competition watchdog is preparing to step down next year, creating a further vacancy at the helm of one of Britain’s most powerful economic regulators.

The Independent

– Bayerische Motoren Werke AG and Volkswagen AG have been fined 875 million euros ($1.04 billion) by the European Commission, which said the firms colluded to limit the development and production of car emission-control systems. ($1 = 0.7253 pounds) ($1 = 0.8445 euros) (Compiled by Bengaluru newsroom)