PRESS DIGEST - Financial Times - May 22

Tue May 21, 2013 7:58pm EDT

May 22 (Reuters) - Headlines

Apple chief defends tax practices and denies avoidance

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Dimon victory despite investor backlash

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BP moves to stop 'irreparable harm' of oil spill payouts

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EU set to widen cap on bonuses

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Nick Buckles bows out as G4S chief executive

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Shell board grilled on Alaska oil project

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Overview

Apple Inc Chief Executive Tim Cook defended the technology company's tax practices, saying Apple did not depend on "tax gimmicks" as U.S. senators grilled him over charges that the company avoided billions of dollars in taxes on international profits.

A majority of JPMorgan Chase & Co shareholders voted to let Jamie Dimon keep his chairman title, handing him a decisive victory over shareholder activists who wanted to strip him of the role.

BP has stepped up appeals against what it says are unjustified compensation payments under the settlement it reached with those affected by the 2010 Gulf of Mexico oil spill.

Europe's banking regulator has broadened its bonus cap rules to bring in far more bankers within the scope of the regulation.

G4S Chief Executive Nick Buckles has stepped down with a 16 million pound package following a series of embarrassments, raising shareholder fears over the future direction of the company.

Some of Royal Dutch Shell's shareholders called for a rethink of the company's Alaska plans amid questions over the company's troubled drilling programme there.

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