PRESS DIGEST-British Business - July 11

July 11 (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

- Religious groups and charities led by the Church of England are to receive a 100-million-pound cash payday after selling their "ethical" asset management business CCLA to Jupiter Fund Management JUP.L .

- UK's Financial Reporting Council said it was examining auditors Deloitte and Azets for their audits of a lender that collapsed amid links to alleged Russian money laundering.

The Guardian

- Four people, including three teenagers, have been arrested at addresses in London as part of an investigation into a trio of cyber-attacks on UK retailers Marks & Spencer MKS.L, Co-op42TE.L and Harrods.

- British water regulator Ofwat said on Thursday that it has proposed a 24-million-pound ($32.53 million) enforcement package on Pennon PNN.L-owned South West Water for "failures in managing its wastewater treatment works and network".

The Telegraph

- Britain will invest 163 million euros ($190.78 million) in French satellite group Eutelsat ETL.PA it said on Thursday, as the two countries hold a summit in London as part of a state visit to deepen trade ties and cooperation on migration.

Sky News

- New York-listed company Ulta Beauty ULTA.O, which operates close to 1,500 stores, is on the verge of a deal to buy Space NK from Manzanita Capital.

($1 = 0.7378 pounds)