PRESS DIGEST- British Business - June 3

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June 3 - The following are the top stories on the business pages of British newspapers. GNN has not verified these stories and does not vouch for their accuracy.

The Times

Greece's creditors are putting the final touches to a package of economic reforms for Athens to deliver in exchange for unlocking 7.2 billion euros ($8.03 billion) of rescue loans that would stave off default. (thetim.es/1KBQZ5T)

The head of Anheuser in Germany has lost his job after just five months for drink driving. Till Hedrich, head of German operations for Anheuser-Busch Inbev, crashed his car while travelling on an autobahn near Munich at the end of April while under the influence of alcohol. (thetim.es/1ALGg8N)

The Guardian

Tom Hayes, the trader accused of trying to rig a key interest rate behind trillions of dollars in financial deals, was allowed to keep a 2.2 million stg ($3.37 million) bonus despite being sacked by his then employer, Citigroup, for "attempting to manipulate" financial markets. (bit.ly/1FSmFD7)

Euro zone inflation turned a corner in May, posting a 0.3 percent increase after four months of flat or falling prices. The measure of core inflation, which strips out food, energy and other volatile elements of the consumer prices index, jumped even higher to 0.9 percent, signalling a resurgence in demand across the euro zone. (bit.ly/1G37yrG)

The Telegraph

Former Barclays Chairman David Walker has called on the Chancellor to review the legislation surrounding bank ring-fencing, claiming it will simply burden customers with extra costs and harm competition. (bit.ly/1K85FM5)

IMF economists cited research by Moody's Analytics that suggested countries such as the UK, U.S. and Canada could afford to live "forever" with relatively high debt shares compared with their pre-crisis averages. (bit.ly/1eNHoyX)

Sky News

Royal Mail will on Wednesday name travel industry veteran Peter Long as its next chairman, handing him the delicate task of navigating the likely sale of UK taxpayers' remaining shareholding in the company. (bit.ly/1Fsq8FT)

Sky News has learnt that Caledonia Investments, which traces its roots to the shipping empire established by Charles Cayzer in 1878, is close to agreeing the purchase of a controlling stake in Seven Investment Management. (bit.ly/1eNzNAA)

The Independent

Shares in British and American tobacco companies have been hit by a Canadian court ruling requiring three tobacco companies to pay billions to Quebec smokers who claimed they were not warned about the health risks of smoking. (ind.pn/1FSmZ4D)

($1 = 0.8969 euros) ($1 = 0.6520 pounds) (Reuters)(Compiled by Mirza Mohammed Ali Khan in Bengaluru)