Reuters: Regulatory News: PRESS DIGEST - British business - Dec 3

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PRESS DIGEST - British business - Dec 3 Dec 3rd 2012, 02:08 Sun Dec 2, 2012 9:08pm EST The Times TAX MAN TARGETS GOOGLE Google is facing the prospect of a multimillion-pound tax bill after Revenue & Customs opened a review into the company's tax returns for the last six years. RBS UNVEILS 10-YEAR PLAN TO RETURN TO PRIVATE SECTOR The Royal Bank of Scotland has predicted that it will take a decade for the bank to leave state control; it intends to start paying dividends in late 2014. The Telegraph LAUNCH OF NEW TAX AVOIDANCE CLAMP DOWN Credit reference agencies will cross-check details of the income people declare on their tax returns against their spending patterns to identify "high" and "medium" risks of both illegal and legal tax avoidance. MAJOR CRIMES UNIT TO EXAMINE RUSSIAN'S DEATH An investigation into the sudden death of Alexander Perepilichny, a Russian businessman and supergrass, in Surrey is now being reviewed by specialist detectives. NEWS CORPORATION TO BE SPLIT ON DECEMBER 31 Rupert Murdoch's News Corporation is preparing to split on December 31, as it attempts to limit the damage of the News of the World phone hacking scandal on the rest of the media empire. UK'S BIGGEST BANK TO START SELLING $44BN TOXIC DEBT HSBC is planning to sell four sub-prime loan portfolios worth a total of $2.7bn in the next year, with hedge funds already expressing an interest. The Guardian POLITICIANS GO TO WAR OVER STARBUCKS TAX SCANDAL A committee of MPs has accused Amazon, Google and Starbucks of an "immoral" use of secretive jurisdictions, royalties and complex company structures to avoid paying tax on UK profits. The Independent LABOUR TURNS THE HEAT ON OVER LEVESON Labour is to draft its own bill enshrining a new powerful press regulator in law, which it is prepared to put to a vote in the House of Commons, party sources told the Independent. CARNEY RIGHT CHOICE FOR UK - BRAZIL BANK CHIEF The head of Brazil's central bank has has said Mark Carney's global reputation meant he was the ideal man to steer the economy back into health as Governor of the Bank of England. Link this Share this Digg this Email Reprints

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