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PRESS DIGEST - British business - Nov 6
November 6, 2012 / 2:45 AM / 5 years ago

PRESS DIGEST - British business - Nov 6

The Times

BIG BUSINESS FACES TAX RAID

George Osborne has recruited the world’s largest economies in a drive for tighter global rules to prevent multinational companies avoiding tax.

COMET OWNER KEPT US IN DARK OVER FINANCES, SAY LANDLORDS

Landlords left in the lurch after the collapse of Comet have rounded on its former private equity owner for failing to disclose financial information while pleading for rent reductions.

The Telegraph

FTSE 100 CHIEFS ENJOY A 27 PCT RISE IN EARNINGS

Directors of Britain’s top 100 companies have seen their average earnings soar by 27 percent over the past year despite a near freeze in salaries and bonuses, as they benefited from an increase in the value of long-term, share-linked incentive plans.

TRADER‘S $1 BLN BET ON APPLE TURNS SOUR

A “rogue trader” in the United States who took an estimated $1 billion gamble on Apple shares that quickly turned sour has left his company, Rochdale Securities, fighting for survival.

The Guardian

CITY TRADER GETS 13 YEARS FOR 32 MLN STG PONZI SCAM

He was the very embodiment of the flash City trader, but Nicholas Levene’s story ended yesterday at Southwark crown court when he was sentenced to 13 years in jail for swindling investors out of more than 32 million pounds ($51 million).

STALLING SALES RAISE FEARS OF TRIPLE-DIP RECESSION

Hopes that the economy was on the road to recovery were dampened yesterday when figures showed retail sales stalled last month and growth in Britain’s services sector almost ground to a standstill.

The Independent

BANKS HAVE LOST RIGHT TO SELF-RULE - HSBC CHIEF

HSBC’s chairman Douglas Flint told MPs that banks had “lost the right to self-determination” on the day his bank more than doubled to $1.5 billion the amount set aside to cover penalties from US regulators for breaking anti-money laundering laws.

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