PRESS DIGEST - British Business - May 8

Tue May 7, 2013 8:37pm EDT

May 8 (Reuters) - The Telegraph

GOVERNMENT NEEDS TO BE CLEAR ON ITS TAX MESSAGE, SAYS CBI

British companies are feeling "schizophrenic" as a result of mixed messaging from politicians over their tax affairs, according to the CBI.

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MORRISONS DIRECTORS ARE REFUSED BONUSES AND PAY RISES

Directors at Wm Morrison Supermarkets have missed out on bonuses, share awards and a salary increase after the retailer suffered a fall in sales and profits last year.

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BT SPORT TO BROADCAST ULTIMATE FIGHTING CHAMPIONSHIP

BT Sport has signed a three-year contract to broadcast live Ultimate Fighting Championship bouts ahead of its commercial launch this week.

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The Guardian

HSBC PROFITS ALMOST DOUBLE IN FIRST THREE MONTHS OF THE YEAR

Profits at HSBC nearly doubled in the first three months of the year as bad debts fell and chief executive Stuart Gulliver took the axe to costs and jobs.

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DIAGEO BOSS PAUL WALSH TO STEP DOWN

The boss of Diageo, Paul Walsh, is stepping down after 13 years at the helm of the company behind Smirnoff and Guinness. He will make way for company veteran Ivan Menezes, who has been chief operating officer of the drinks group since March last year.

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G4S SHARES TUMBLE AS EUROPEAN BUSINESS DISAPPOINTS

Shares in G4S, the company that bungled the security of last year's Olympics, slumped 11 percent on Tuesday morning, after it said profit margins would be lower than expected in 2013 because of a difficult first quarter in Europe.

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The Times

JAMIE DIMON SITS TIGHT BUT HE MAY NOT BE THERE LONG

Directors at JPMorgan Chase are fighting a rearguard action to prevent Jamie Dimon being stripped of his chairmanship of the bank.

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CAR SALES ROAR INTO THE EUROPEAN FAST LANE

Record low rates of financing, carmakers dumping stock into the only relatively healthy big consumer market in Europe and the advance of cheaper-to-run vehicles are fuelling an acceleration in British car sales.

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INSURER QUITS AMID CLAIMS OF 'INSULTING TREATMENT'

One of the highest-paid women in insurance has quit her 900,000 pounds-a-year job at Jardine Lloyd Thompson amid claims of a dispute with the chief executive, Dominic Burke.

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The Independent

GEORGE OSBORNE BRACED FOR IMF CHALLENGE OVER ECONOMY

George Osborne's austerity programme faces a major challenge today when a team from the International Monetary Fund (IMF) arrives in Britain to conduct its annual "health check" on the economy.

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BETFAIR LIFTS FORECASTS TO FEND OFF CVC BID

Bid target Betfair disappointed investors hoping for a quick cash payout, as the online gaming house set out its defence against CVC.

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