April 1, 2013 / 1:21 PM / 5 years ago

PRESS DIGEST - British Business - April 1

LONDON, April 1 (Reuters) - British newspapers reported the following business stories on Monday: The Daily Telegraph SHOW MORE AMBITION, BUSINESSES TELL OSBORNE George Osborne “lacks ambition” and must push through radical steps to stimulate growth or risk killing off a rebound in business confidence, the British Chamber of Commerce has warned. TALKTALK CALLS FOR ACTION ON BROADBAND TalkTalk’s chief executive and chairman have called for telecoms regulator Ofcom to intervene over the price BT Group charges its rivals for access to its superfast broadband network. ‘RETAIL DESTINATIONS’ TO DRIVE TESCO SALES The success of Tesco’s business in Asia is set to help shape the company’s strategy in Britain as the group looks to develop its supermarkets into family retail destinations. BRITAIN MUST TURN OFF ITS LIGHTS, COALITION INSISTS Ministers are stepping up efforts to cut Britain’s energy usage ahead of a looming power crunch, with the creation of a task force charged with switching off the country’s lights. The Times CHANCELLOR TO BANKS’ RESCUE WITH SECRET 1 BLN STG TAX BREAK George Osborne has handed a secret tax break to banks worth up to 1 billion sterling a year. The fine print of his budget reveals that the government is increasing the list of ways in which banks can reduce their corporation tax bill. For the first time, new forms of debt interest payments will become tax deductible. NEW ENERGY TAX ‘WILL FORCE THOUSANDS INTO FUEL POVERTY’ A new tax on energy that kicks in today will send the price of electricity up by more than a sixth in the coming years, hobbling business and sending tens of thousands of homes into fuel poverty, according to the Institute for Public Policy Research. The Guardian SAINSBURY‘S BOSS IN FRAME FOR FORMULA ONE‘S POLE POSITION Bernie Ecclestone has dismissed - but not denied - speculation that Sainsbury’s chief executive Justin King could take his place in the driving seat of Formula One. Daily Mail OLVER FACES FRESH CALLS TO QUIT BAE Private shareholders in BAE Systems are being urged to vote for the ousting of chairman Dick Olver over the defense giant’s failed merger with European aerospace giant EADS .

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