PRESS DIGEST-Financial Times – April 2

April 2 (Reuters) – The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

– Rolls-Royce and Airbus lobby UK in support of Virgin Atlantic bailout on.ft.com/3aBSAfA

– Morrisons wins appeal over data breach on.ft.com/39CDDZj

– BP slashes spending to counter oil price collapse on.ft.com/3aC3aTO

– Auto Trader to raise £200m in share sale after waiving ad fees on.ft.com/2Jy1uPa

Overview

– Rolls-Royce and Airbus SE have sent letters to Grant Shapps, Britain’s transport secretary on behalf of Virgin Atlantic as the airline seeks a £500 million pounds ($619.05 million) bailout package of commercial loans and guarantees to survive the fallout from the coronavirus pandemic.

– British supermarket retailer WM Morrison has won a Supreme Court appeal over liability for a data breach affecting roughly 100,000 staff.

– UK energy group BP Plc on Wednesday cut its 2020 capital spending by 25 per cent, which includes a $1 billion capex reduction at the group’s U.S. shale business BPX, as it seeks to bolster its finances and maintain shareholder payouts in the face of the oil price collapse triggered by the coronavirus outbreak.

– UK online car marketplace Auto Trader will issue about £200 million pounds of fresh shares to boost its finances after letting dealerships use its online marketplace for free during the coronavirus lockdown. ($1 = 0.8077 pounds) (Compiled by Bengaluru newsroom)

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