PRESS DIGEST - British Business - May 16

Wed May 15, 2013 9:29pm EDT

May 16 (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 Telegraph

AMAZON MADE MORE FROM GRANTS THAN IT PAID IN UK CORPORATION TAX

Amazon.com Inc is on a fresh collision course over its contribution to the UK exchequer, after the American internet giant revealed it received more money in government grants last year than it paid in corporation tax in Britain.

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PUBLIC COULD BUY RBS SHARES AT A LOSS, SAYS DAVID CAMERON

David Cameron has indicated that the Royal Bank of Scotland could be reprivatised through a sale of shares to millions of ordinary investors at an initial loss to the taxpayer.

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UK SHALE GAS PROGRAMME TO 'ACCELERATE'

Britain is on track to "accelerate" its shale gas programme, according to Michael Fallon, the energy minister, as he confirmed a new licensing round for oil and gas explorers will take place next year.

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The Guardian

HSBC WARNS ON JOBS AS COST-CUTTING CONTINUES

Some 14,000 more jobs are at risk at HSBC Holdings Plc as its chief executive, Stuart Gulliver, wields an axe to reduce costs, boost profitability and pay bigger dividends to shareholders.

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EUROZONE NOW IN ITS LONGEST RECESSION

The eurozone has slumped into its longest recession ever, after economic activity across the region fell for the sixth quarter in a row.

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GOOGLE LAUNCHES NEW ALL ACCESS MUSIC STREAMING SERVICE

Google Inc outstripped its arch-rival, Apple Inc , with the launch of a subscription music streaming service on Wednesday while simultaneously mounting a threat to other providers such as Spotify.

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The Times

OFWAT CHIEF GOES IN WAKE OF ROW WITH INDUSTRY BOSSES

One of Britain's most powerful industry regulators has dramatically parted company with its chief executive. Regina Finn is to leave the Water Services Regulation Authority, better known as Ofwat, after six years.

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TRAVEL GROUP RIGHTS ISSUE OFFERS ROUTE TO SECURITY

Thomas Cook Group Plc will launch a 400 million pound rights issue on Thursday to help cut the holiday company's 1.5 billion pound debt burden.

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BARRATT MOVES TO EASE DEBT BURDEN

Barratt Developments Plc, which five years after the financial crisis remains Britain's most indebted housebuilder, has carried out a "comprehensive refinancing" a year ahead of schedule.

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The Independent

SIR MERVYN KING BOWS OUT ON A HIGH

Sir Mervyn King said that a recovery for the beleaguered UK economy is finally "in sight" as the Bank of England's Governor revised up his own growth forecast for the first time since the outbreak of the global financial crisis five years ago.

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SWISS ROLE FOR LONRHO AS IT SHEDS TINY ROWLAND ROOTS

One of the most colourful chapters in corporate Britain finally came to a close today as the 104-year-old Lonrho agreed to a 175 million pound takeover bid from two Swiss businessmen.

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