PRESS DIGEST - British Business - March 11

March 11 Sun Mar 10, 2013 9:28pm EDT

March 11 (Reuters) - The Telegraph CABLE WILL BACK TAX REVOLUTION The government is to back controversial plans to force businesses to reveal the taxes they pay in every country they operate in.

BRANSON'S AIRLINE HEADS FOR RECORD LOSSES Sir Richard Branson's Virgin Atlantic is heading for record losses of as much as 135 million pounds, triggering fears of job cuts among the carrier's 9,000 staff.

UK MORE VULNERABLE FROM DISRUPTION TO OIL SUPPLIES Petrol station closures and cutbacks in storage capacity have made Britain more vulnerable to oil supply disruptions.

WH SMITH BRINGS BACK DVDS AFTER HMV FAILURE The stationery retailer WH Smith Plc is returning to the CDs and DVDs market following the collapse of HMV Group Plc .

The Guardian

TESCO REACTS TO PROFITS FALL WITH PRICE PROMOTION A new scheme from the retailer will compare prices at tills with those of Asda, Sainsbury's and Morrisons.

OBR CHIEF WRITES TO CAMERON DISPUTING HIS AUSTERITY PROGRAMME CLAIMS Robert Chote says the government's spending cuts and tax rises have knocked 1.4 percent off GDP over the past two years.

The Times

SORRELL NEEDS BIGGER PAY CUT, WARN INVESTORS Sir Martin Sorrell's future at the helm of the world's biggest advertising agency has been thrown into fresh doubt after a new investor rebellion over his bumper pay deals.

The Independent

EDF SUBSIDY TO PUT UK ON NUCLEAR PATH The government is close to signing a 35-year deal that will protect French energy group EDF from falling energy prices.