Thursday newspaper round-up: Water companies, EU-UK trade, Wirecard
By Michele Maatouk
Date: Thursday 02 Jul 2020
(Sharecast News) - More than 6,000 retail jobs were cut from the UK high street on Wednesday as the full impact of the pandemic on the high street - combined with the wind-down of the government furlough scheme - starts to emerge. The latest job losses - from retailers ranging from Harrods to Philip Green's Arcadia group and SSP, the company behind hundreds of railway and airport eateries - bring the total cuts announced this week to more than 10,000. - Guardian
English water companies have handed more than £2bn a year on average to shareholders since they were privatised three decades ago, according to analysis for the Guardian. The payouts in dividends to shareholders of parent companies between 1991 and 2019 amount to £57bn - nearly half the sum they spent on maintaining and improving the country's pipes and treatment plants in that period. - Guardian
Trade between the UK and European Union would still flourish in the short term even without a Brexit deal, according to a candidate seeking to run the World Trade Organization. The historic alliance of Britain and the bloc and their regulatory ties should allow goods and services to continue flowing across borders according to Hamid Mamdouh, a former WTO director of trade in services and investment who is Egypt's candidate to run the organisation. - Telegraph
The City regulator was warned last year that Wirecard was allegedly linked to a scheme that used fake online stores to disguise the processing of high-risk payments. The Financial Conduct Authority was given details of an operation whereby allegedly bogus ecommerce sites were used as a front for channelling online gambling proceeds through the international payments system. - The Times
The former chief executive of Indivior has pleaded guilty to a criminal charge arising out of a US Department of Justice investigation into the marketing of the company's blockbuster opioid addiction treatment. Shaun Thaxter, 52, pleaded guilty in federal court in Abingdon, Virginia, to causing misbranded information about the safety of Suboxone Film. - The Times
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