PRESS DIGEST - British Business - May 20

Sun May 19, 2013 8:21pm EDT

May 20 (Reuters) - The Telegraph

SIR MERVYN KING: STOP 'DEMONISING' BANKERS

Sir Mervyn King, the outgoing head of the Bank of England, has called for an end of banker bashing saying it's wrong to "demonise individuals" for the failure of the financial system.

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GOOGLE CHIEF SCHMIDT CRITICISES POLITICIANS OVER TAX ROW

Google Inc executive chairman Eric Schmidt has urged the Chancellor to lead reform of the international tax system after his company was savaged by MPs for avoiding billions in British taxes.

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BIS AND IMF ATTACKS ON QUANTITATIVE EASING DEEPLY MISGUIDED WARN MONETARISTS

Monetarists across the world have warned that the International Monetary Fund and the Bank for International Settlements are making an historic error by calling for a withdrawal of emergency stimulus before the global economy has fully recovered.

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The Guardian

MARKS & SPENCER UNDER FIRE OVER ONLINE TAX ARRANGEMENTS

Marks & Spencer has become the latest in a string of UK companies to face criticism from tax campaigners over the way it structures its online sales to Europe - with one describing its sales operation as similar to that of the internet retail giant Amazon.

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YAHOO POISED TO BUY TUMBLR FOR RUMOURED $1.1 BLN

Marissa Mayer, the former Google executive who is now in charge of Yahoo Inc, is poised to create yet another nothing-to-riches tale in the web industry with the $1.1 billion acquisition of the blogging site Tumblr.

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The Times

TORY REBELS SET TO INFLICT NEW DEFEAT ON CAMERON

David Cameron faces another defeat in the Commons as his leadership comes under unprecedented strain from angry party members and revolts over gay marriage and Europe.

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MPs SET FOR 10,000 POUND RISE AS BACKBENCHERS URGE 100,000 POUND SALARIES

MPs are expected to receive a pay increase of at least 10,000 pounds a year, or more than 15 percent. A report by the Independent Parliamentary Standards Authority (Ipsa) is expected to recommend the dramatic increase in a report next month.

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TREASURY OPPOSES OSBORNE'S RBS SHARES TRANSFER TO PUBLIC

George Osborne is likely to face opposition from Treasury civil servants over plans to transfer the Government's shares in Royal Bank of Scotland to the public.

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The Independent

BRITAIN FACES YEARS OF HIGH INFLATION

Britons should be braced for years of high inflation as the cost of living soars stubbornly ahead of wages, a leading economic forecaster warned today.

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YO! SUSHI OWNER IN BIDDING FOR BURGER CHAIN

The owner of Yo! Sushi is battling rival private equity firms to acquire Byron, the upmarket burger chain, for 100 million pounds.

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