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U.K. markets news

The Irish loophole behind Apple's low tax bill
By Tom Bergin. LONDON | Tue May 21, 2013 11:10pm BST. LONDON (Reuters) - Apple's ability to shelter billions of dollars of income from tax has hinged on an unusual loophole in the Irish tax code that helps the country compete with other countries for ...
Finding the Economic Roots of Apple's Taxable Product  New York Times
Apple chief calls on US government to slash US corporate tax  The Guardian
Irish Times   Related articles »  
RBS and Lloyds stakes should be sold, says IMF
Britain will be advised to sell off the state's holdings in the Royal Bank of Scotland and Lloyds Bank by the International Monetary Fund (IMF) in a move that will embolden George Osborne as he attempts to justify his economic strategy.
IMF urges Treasury to speed up sale of Lloyds and RBS  The Guardian
Could RBS stay in an independent Scotland?  BBC News
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Miliband says Google tax behaviour "wrong"
By Andrew Osborn. LONDON | Wed May 22, 2013 12:30am BST. LONDON (Reuters) - Google Inc's tax affairs will come under renewed scrutiny in Britain on Wednesday when the leader of the opposition Labour party accuses the Internet company of wrongly ...
Miliband to make tax jibe at Google just days after Cameron failed to do so ...  Daily Mail
Miliband to Tell Google to Change Culture on U.K. Tax  Bloomberg
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MPs issue damning verdict on HMRC failures in fraud and error clampdown
A �5bn hole in the public purse has been caused by the failure of HM Revenue and Customs to clamp down effectively on fraud and error, MPs warn on Wednesday.
Lawmakers Say U.K. Failing to Cut Tax-Credit Error, Fraud  Bloomberg
Coalition failure on benefits errors and fraud set to cost taxpayers �5bn  Mirror.co.uk
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Fiat Industrial to move tax home to UK
Fiat Industrial aims to move its tax residency to the UK from Italy after a merger with US business CNH to take advantage of a lighter fiscal regime, according to a regulatory filing.
Fiat Industrial plans UK HQ for tax reasons  MarketWatch
Fiat Industrial seeks UK tax move  The Guardian
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Shale gas could supply a third of UK needs, says IoD
Britain's shale gas reserves could �be a new North Sea for Britain�, meeting more than a third of annual gas needs, reducing dependence on imports and generating significant tax revenues, according to the Institute of Directors.
UK Shale Boom Could Cut Gas Import Bill in Half, IoD Says  Bloomberg
Government urged to unlock UK shale gas jobs  bdaily
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One in seven to retire without a pension
These pensioners will have to survive on just �170 a week - compared with an average weekly income of �322 should they have saved into a private pension.
One in seven to rely on state pension  ifaonline.co.uk
One in five will retire in poverty  Express.co.uk
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EU set to widen cap on bonuses
Investment banks' ability to reward junior traders with bonuses worth many times their salaries will be curbed by proposals that further widen the EU's planned bonus cap.
Bankers' bonuses: European watchdog says many more staff will face curbs  The Guardian
EBA Aims To Widen Range Of Bankers Affected By Bonus Cap  Wall Street Journal
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Bwin.party's drive for quality hurts revenues
Bwin.party's tactical shift of its customer database from quantity to quality contributed to a 17 per cent fall in the online gambling group's first quarter net revenues.
Bwin.party targets cost savings, eyes US market  Reuters
UPDATE 1-Bwin.party cuts costs in Europe, eyes US openings  Reuters UK
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Burberry Earnings: China Sales Up 20%
LONDON�Burberry Group PLC showed further signs of recovery following a midyear profit warning, as it reported a rise in full-year revenue on Tuesday.
Burberry Profit Exceeds Expectations as Sales Surge in Asia  Bloomberg
Burberry boosted by Asian retail growth  The Guardian
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