LONDON, July 1 (Reuters) - Britain’s FTSE 100 index is seen opening up by 42 points, or 0.6 percent higher, according to financial bookmakers. For more on the factors affecting European stocks, please click on.
* The UK blue chip index closed down 1.5 percent at 6,520.98 points on Tuesday, its lowest level in around five and a half months.
* GREECE: Greece’s last-minute overtures to international creditors for financial aid on Tuesday were not enough to save the country from becoming the first developed economy to default on a loan with the International Monetary Fund.
* UK BANKS/HSBC : HSBC will face a bill of around 1.5 billion pounds ($2.4 billion) to shield its domestic retail customers from riskier parts of its operations, the chairman of its UK business told lawmakers on Tuesday.
* SANTANDER UK : Santander’s British arm has set up a structure to meet new rules requiring banks to separate their retail banking arms, and appointed bosses for its retail and corporate divisions, a source familiar with the matter said on Tuesday.
* BBC: The BBC is expected to cut hundreds of jobs, The Guardian reported.
* VIRGIN ATLANTIC: Virgin Atlantic Airways Ltd, owned by its British billionaire founder Richard Branson, is cutting about 500 jobs as it seeks to reduce costs and improve its financial resilience, the Wall Street Journal reported.
* HEATHROW: Britain’s Airports Commission is backing a new Heathrow runway, Sky News reported.
TODAY‘S UK PAPERS
> Financial Times
> Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit topnews.session.rservices.com * BridgeStation: view story .134 For more information on Top News visit topnews.reuters.com (Reporting by Sudip Kar-Gupta)