PRESS DIGEST - British Business - May 21

Mon May 20, 2013 8:32pm EDT

May 21 (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

POLITICAL ATTACKS ON TAX AVOIDANCE COULD DAMAGE BRITAIN, CBI'S ROGER CARR WARNS

Joining some of the UK's top bosses at a meeting of the Prime Minister's business advisory council in Downing Street, CBI president Sir Roger Carr said politically motivated attacks on businesses' tax arrangements could have damaging "unintended consequences" for Britain.

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PAUL TUCKER RISKS ROW WITH CHANCELLOR OVER BANK RESCUE PLANS

Paul Tucker, the Bank of England deputy governor, has partially backed European plans to give depositors greater legal protection in a move that threatens to pitch him against Chancellor George Osborne.

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The Guardian

ENRC SHARES SLIP AS IT REVEALS DETAILS OF SPURNED TAKEOVER ATTEMPT

Shares in Eurasian Natural Resources Corporation slipped sharply on Monday as the FTSE 100 miner outlined details of last week's spurned takeover bid by its oligarch founders and the Kazakhstan government.

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BATTERSEA POWER STATION DEVELOPER SELLS MORE THAN 800 FLATS FOR 675 MLN STG

More than 800 flats in the Battersea Power Station development in London have been sold for 675 million pounds.

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The Times

YAHOO! PROMISES NOT TO 'SCREW UP' TUMBLR AFTER $1.1 BLN DEAL

Yahoo! Inc announced on Monday that it is buying the popular blogging and social networking service Tumblr for $1.1 billion - and promised "not to screw it up".

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SCHOOL TRIPS ARE NEXT TARGET FOR RYANAIR

Ryanair Holdings Plc believes that it has spotted a business opportunity in flying Israeli children on educational visits to former Nazi concentration camps. Howard Millar, its deputy chief executive, suggested that flights between Poland and Tel Aviv could prove particularly profitable.

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APPLE 'PURSUING HOLY GRAIL OF TAX AVOIDANCE'

Apple has avoided paying tens of billions of dollars in taxes, using a "highly questionable" web of offshore companies, including subsidiaries that are not based in any nation, a report has claimed.

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VINCE CABLE DEMANDS INCREASE IN LENDING TO SMALL BUSINESSES BY BAILED-OUT BANK

Royal Bank of Scotland is not trying hard enough to lend to the country's small and medium-sized companies, the Business Secretary warned yesterday.

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The Independent

FIRSTGROUP SHARES SLUMP AS CO ANNOUNCES FUND-RAISING BID

The struggling bus and train operator FirstGroup Plc tapped investors for 615 million pounds ($936 million) to cut debts and axed its dividend as profits slumped. Chairman Martin Gilbert stepped down after leading the firm for 27 years.

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EU TAPS TOP OIL TRADERS FOR PRICE-FIXING INFORMATION

The European Commission stepped up its investigation into oil price fixing as it sought information from trading houses such as the FTSE 100 giant Glencore.

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BULLISH MOOD IN CITY SENDS MARKET UP TO 13-YEAR HIGH

London's leading share index closed at its highest level in almost 13 years yesterday, raising hopes that it will break through the 7,000 point barrier for the first time by the end of 2013.

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