PRESS DIGEST - British business - Nov 22

Wed Nov 21, 2012 8:39pm EST

The Times

BATTLE LINES DRAWN FOR EU BUDGET SHOWDOWN

France and Italy took aim at Britain's prized European rebate on the eve of marathon budget talks that will be one of the biggest tests of David Cameron's leadership.

OSBORNE TOLD TO FORGET HIS A-GAME AS REVENUES DRY UP

The government is heading for the loss of its triple-A credit rating and a breach of its debt target, one of the world's leading fund managers warned in the wake of a fresh deterioration in public finances.

The Telegraph

BIG BANKS A FORCE FOR GOOD, SAYS OSBORNE

Big banks are good for Britain and must not be broken up, said George Osborne, as he argued that having more large lenders would be beneficial to society.

SUPERMARKET CHIEFS SEEK RELAXATION OF TRADING HOURS

The chief executives of two of Britain's biggest retailers have written to the government to seek an extension of Sunday trading hours on December 23, which is expected to be the busiest shopping day of the year.

ANGER AT AMAZON'S WEB ADDRESS PUSH

Amazon is making a "land grab" for a swathe of internet address endings, sparking worldwide protests.

The Guardian

GAZA CEASEFIRE ENDS A WEEK OF BLOODSHED

Israel and the Palestinians bowed to U.S. and international pressure on Wednesday and agreed an end to eight days of fighting in the Gaza Strip that has claimed more than 160 lives.

The Independent

BORROWING UP, TAX REVENUES DOWN

A slump in corporate tax receipts has dealt a blow to the Government's deficit reduction plans, and may force the Chancellor to outline further cuts and scrap part of his fiscal mandate in his forthcoming autumn statement.

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California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

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