PRESS DIGEST- British Business - Dec 6

Reuters

Dec 6 - The following are the top stories on the businesspages of British newspapers. Reuters has not verified thesestories and does not vouch for their accuracy.

The Telegraph

AUTUMN STATEMENT 2013: HEDGE FUNDS MAY RELOCATE AFTERCRACKDOWN ON PARTNERSHIPS

UK-based hedge funds may be driven overseas, experts havewarned, after a clampdown on corporate partnerships became thecentrepiece of the government's 9 billion pounds assault on taxavoidance, evasion and fraud.

JOHN LEWIS-STYLE BUSINESSES RECEIVE EXTRA 25 MILLION POUNDSBOOST

Efforts to encourage more employee-owned businesses such asThe John Lewis Partnership have been boosted by a further 25million pounds a year of tax incentives announced in the AutumnStatement.

The Guardian

VINCE CABLE BACKS INDEPENDENCE OF TOMLINSON REPORT ON RBS

Vince Cable has been forced to defend a report drawn up byone his advisers which accuses Royal Bank of Scotland ofdeliberately forcing viable businesses to the brink to makeprofits for the bailed-out bank.

FACEBOOK CAUGHT IN CONTROVERSY OVER EARNINGS EXPORTED TOCAYMAN ISLANDS

Facebook is facing a fresh controversy over its taxcontributions after company filings revealed the social networkexported an estimated 645 million pounds earned in the UK andother overseas markets to the Cayman Islands tax haven lastyear.

The Times

M&S BREAKS 90-YEAR TIES WITH AUDITOR AMID THREAT OF REFORM

Marks & Spencer has dropped PwC as its book-keeperafter a relationship spanning nearly 90 years as lawmakers inEurope continue to deliberate over a radical shake-up of themarket for auditing elite companies.

EASYJET CHIEF PAID 6 MILLION POUNDS FOR HITTING HEIGHTS

It describes itself a budget airline but easyJet hassplashed out 6.43 million pounds on a bumper pay package for itschief executive, turning Carolyn McCall into one of Europe'shighest-paid aviation bosses.

Sky News

Aviva Boss Lands In FirstGroup Driving Seat

The head of Aviva will on Friday be named as the nextchairman of FirstGroup, the transport operator behindGreyhound buses and the First Capital Connect rail franchise.

BLOCKBUSTER TO SHUT WITH 1,200 JOB LOSSES

The movie and games rental chain Blockbuster is on course tobe closed down by the end of the year with the loss of theremaining 1,200 jobs, it has been confirmed.

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