October 14, 2014 / 12:26 AM / in 5 years

PRESS DIGEST- British Business - Oct 14

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 Times

OIL SLIDES AS SAUDIS DIG IN FOR PRICE WAR

The price of Brent crude falls to $87.7 a barrel as the Saudis refuse to slash production to address flush global supply and arrest a dramatic slide in prices. Oil prices have hit a near four-year low after Saudi Arabia indicated it was digging in for a drawn-out price war. (thetim.es/11gmTV1)

‘DOUBLE IRISH’ TAX LOOPHOLE TO BE SEALED OFF

A tax-avoidance loophole - one that is thought to allow the likes of Google, Facebook and Microsoft to save hundreds of millions of dollars legally - could be shut down beginning as early as Tuesday when Dublin announces its annual budget. (thetim.es/1voyaiw)

The Guardian

JEAN TIROLE WINS NOBEL PRIZE FOR ECONOMICS

Jean Tirole, the French economist who has used game theory in an attempt to find ways to control the dominance of major companies, has won the Nobel prize for economics. Tirole, of the University of Toulouse, said he was very grateful for the award for his work on "taming powerful firms". (bit.ly/1tobnDl)

JIMMY CHOO SET FOR LOWER IPO PRICE

Luxury shoemaker Jimmy Choo is facing the prospect of a lower flotation price for its shares as market turbulence hits companies planning to list in London. (bit.ly/1xM1pd8)

The Telegraph

ITALY’S ‘UKIP’ LAUNCHES DRIVE FOR EURO REFERENDUM

Italy's Five Star Movement has launched a petition drive for withdrawal from the euro to lift the country out of depression and protect Italian democracy, a dramatic turn for a country that was passionately pro-European for 60 years. "We must leave the euro as soon as possible," said Beppe Grillo, the combative comedian-politician and founder of the protest party that swept into Italy's parliament last year with 26 percent of the vote. (bit.ly/1D81ydM)

FRANCE’S PM: NOBEL PRIZE WIN MAKES MOCKERY OF FRENCH-BASHING

French Prime Minister Manuel Valls has claimed that the award of the Nobel Prize for economics to France's Jean Tirole makes a mockery of "French-bashing" amid growing criticism of the country's economic management. (bit.ly/1vYDU02)

Sky News

FTSE 100 DIRECTORS’ EARNINGS UP 21 PCT IN A YEAR

A steep rise in long-term incentives meant directors at FTSE 100 companies earned 21 percent more in the last financial year, a study by employment research specialists Incomes Data Services suggests. (bit.ly/1D7GODa)

AMAZON TO CREATE 1,000 UK WAREHOUSE JOBS

Online retailer Amazon has announced plans to hire a further 1,000 staff for its UK warehouse operations. The company, which just a month ago said it was expanding its UK office operations, said the separate announcement would boost staffing levels across its eight existing distribution sites. (bit.ly/1sGvOJP)

The Independent

NASDAQ: WE’RE TOP CHOICE FOR TECH IPOS DESPITE ALIBABA REBUFF

Nasdaq is still the top choice for tech firms looking to list on the stock market, according to Hans-Ole Jochumsen, president of global trading and market services at Nasdaq, despite losing out to its bitter rival for the world record Alibaba flotation. (ind.pn/1p7gpNk)

EUROSTAR SALE: FRANCE’S SNCF HAS NO INTENTION TO BUY UK STAKE

SNCF, the French majority shareholder in the Eurostar, has ruled out plans to buy the UK's stake in the Channel tunnel train operator as the government started the sale. (ind.pn/1sJkKeV) (Compiled by Ankush Sharma in Bangalore; Editing by Ken Wills)

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