PRESS DIGEST- British Business – May 5

May 5 (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

Chief executive of Prudential Regulation Authority Sam Woods said Monday that commercial banks will have enough firepower to support the economy through COVID-19 after regulators moved to boost their capacity to lend.

Norwegian Air is limping towards a state rescue after lenders and shareholders agreed a debt-for-equity swap following a weekend of tense negotiations.

The Guardian

UK’s Financial Reporting Council said on Monday it has opened an investigation into EY’s audit of the scandal-ridden private hospital operator NMC Health, which collapsed into administration last month.

The Telegraph

Telefonica SA, the Spanish owner of O2, confirmed on Monday it is in talks to combine the mobile operator with Virgin Media, the cable operator controlled by Liberty Global .

Sky News

Intermediate Capital Group owned food-to-go supplier Adelie has approached Bakkavor and Greencore about a rescue deal.

The Independent

UK aviation is in “a death spiral” and in need of immediate government support to save jobs, the British Airline Pilots’ Association (Balpa) has warned.

Britain is in talks with Swiss pharmaceutical company Roche Holding AG on a large-scale rollout of a coronavirus antibody test with a near-100% accuracy rate, health secretary Matt Hancock has said.

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