PRESS DIGEST- British Business - July 1

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

The world's biggest potash mine is to be built by Sirius minerals in the North York Moors National Park after a planning committee decided that the economic benefits outweighed the environmental damage. The 1.7 billion pounds($2.67 billion) project will create up to 1,000 jobs. (http://thetim.es/1Hw3anI)

The Labour party has abandoned its call for the government to reinstate the 50p top rate of tax, the shadow chancellor indicated yesterday. Chris Leslie said that the moment to fight the Conservatives on their decision to cut the rate paid by those on more than 150,000 pounds a year had passed. (http://thetim.es/1Hw2JJY)

The Guardian

Hundreds of jobs are expected to be axed by the BBC as it tries to become "leaner and simpler" at a time when it is facing a 150 million pounds-a-year shortfall in funding and growing political pressure from the Conservative government. (http://bit.ly/1ehuAAi)

Drugmakers are drawing up emergency plans to deal with the fallout from a potential Grexit, as the industry issued a stark warning that Greece's exit from the euro could lead to severe shortages of life-saving medicines and unleash a public healthcare crisis. (http://bit.ly/1Hw3DpP)

The Telegraph

Spain's Banco Sabadell has received approval from Britain's financial regulators for its 1.7 billion pounds takeover of Britain's TSB, increasing competition for the UK's biggest banks. (http://bit.ly/1Hw2SgG)

Virgin Atlantic Ltd has revealed it is cutting about 500 jobs just months after announcing it had returned to profit following three years of losses. It said the jobs that will be lost are in managerial and support roles, leaving customer-facing employees untouched. (http://bit.ly/1Jvau3e)

Sky News

Euro zone finance ministers will resume talks on the Greek crisis on Wednesday after refusing the country's request for a two-year financial aid package, according to a Greek government source. (http://bit.ly/1LGfWAO)

A former boss of Thomas Cook Group will receive a lower-than-expected payout following recent scrutiny of the company's response to the deaths of two children in Corfu nine years ago. The company has confirmed it is awarding Harriet Green 4.1 million shares, at the lower end of expectations. (http://bit.ly/1Hw3d2T)

The Independent

The European Union is to do away with roaming charges on the continent, letting people avoid huge fees for downloading on holiday, and will force internet providers to conform with net neutrality. (http://ind.pn/1ehrGvi)