Yahoo Inc. has agreed to pay $1.1 billion for Tumblr, a six-year-old company with more than 100 million users but very little revenue, a deal that highlights the shifting balance of power in the technology business.

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

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.

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

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.