Tuesday newspaper round-up: Greece, UK banks, Sainsbury's

“The European Central Bank has tightened liquidity conditions for the Greek banking system following the landslide victory for the Leftist government in Sunday’s referendum,” writes The Telegraph.

Greece has appointed Oxford-educated economist Euclid Tsakalotos as its new Finance Minister, reports The Wall Street Journal. Tsakalotos has been in charge of the country’s team negotiating with lenders since April.

UK high street banks are launching digital payment services through the Zapp application in an effort to fend off growing competition from technology group Apple, the Financial Times writes.

Eagle Eye, the virtual voucher business backed by former Tesco boss Sir Terry Leahy, is expected to unveil a “game-changing” contract with Sainsbury’s, according to The Guardian. The contract will reportedly change the way the grocer runs promotions and handles online vouchers.

George Osborne is expected to shake up Sunday trading laws in this week’s budget, allowing local authorities and mayors to decide how long large stores can stay open, ending the six-hour limit, reports The Guardian.

“The BBC has agreed to a funding settlement, allowing the licence fee to rise by inflation in exchange for the corporation covering the £650m annual cost of free television licences for the elderly,” the Financial Times writes.

The British Chambers of Commerce has said that the UK is seeing “two-tier growth” and has urged George Osborne to use the budget to revive the manufacturing sector, The Times says.