PRESS DIGEST - British business - April 24

The Times

HAZLITT COULD WALK AWAY FROM GCAP WITH 1.2 MILLION POUNDS

GCap's chief executive, Fru Hazlitt, could leave the group with 1.2 million pounds after only four months in charge. Hazlitt's basic salary increased from 265,000 pounds to 325,000 pounds, according to a document sent to shareholders on Wednesday, when she was appointed chief executive in December. In the wake of the company's pending takeover by Global Radio, the documents revealed Hazlitt would be eligible for a year's basic salary, plus benefits, if her contract became terminated.

GLAXO HINTS AT UK EXODUS IN WARNING OVER TAX CHANGES

The outgoing chief executive of GlaxoSmithKline (GSK.L: Quote, Profile, Research, Stock Buzz), Jean-Pierre Garnier, issued a veiled warning to the government over proposed changes to the tax regime on Wednesday. Garnier said: "We value our roots in the UK, but the business environment has to be realistic and favourable so that it doesn't impair our ability to compete globally." Garnier also said that GSK would be looking closely at any proposed changes to the tax system.

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