The Ernst & Young ITEM Club said �the persistence of high inflation could undermine the Monetary Policy Committee's credibility� and �tie [its] hands�.

Mon May 20, 2013 2:17am EDT. DUBLIN May 19 (Reuters) - Ryanair posted record full-year earnings but warned profit growth would slow sharply in the coming 12 months on demand weakness in the European Union and high fuel and airport costs.

Prime Minister David Cameron has urged British overseas territories to "get their house in order" and sign up to international treaties on tax.

Marks & Spencer has become the latest in a string of UK companies to face criticism from tax campaigners over the way it structures its online sales to Europe - with one describing its sales operation as similar to that of the internet retail giant Amazon.

With the $1.1 billion acquisition of Tumblr apparently wrapped up and ready to be announced Monday morning, Yahoo Yahoo and its hard-charging CEO Marissa Mayer are making a big bet that the Internet pioneer can return to relevance.

... Off. � UK business chiefs say 'we need to stay in EU' � Sir Mervyn King: stop 'demonising' bankers � Inflation 'may hamper Carney', warns ITEM Club � Yahoo agrees to buy Tumblr for $1.1bn � M&S under tax spotlight over Irish arm � Google chief criticises ...

Britain's beleaguered High Street continues to see the number of vacant shops increase thanks to recent failures including Comet and Jessops.

The study said a separate Scotland could have �significant difficulties� replicating the UK's Financial Services Compensation Scheme (FSCS), which protects bank deposits of up to �85,000.

The markets have priced in a 50pc cut to the group's dividend to bolster cash flow. FirstGroup, which will also bid farewell to its long-standing chairman, Martin Gilbert, this week, has been under pressure since last year's West Coast Main Line fiasco.

Ed Miliband has vowed to rip up the rule book as prime minister and go it alone if there is no international consensus to tackle multinationals engaging in massive tax avoidance.