Starbucks yet to pay money pledged after tax row
Starbucks admit that they have not yet paid the millions pounds they promised they would pay to the government after a row over their tax.
'Call a spade a spade' - Google under attack
A stroppy session of one of Westminster's most powerful committees and one of the world's biggest businesses is just drawing to close.
Google's UK boss facing tough tax questions from MPs
Google UK boss Matt Brittin is facing questions from MPs over where it makes its ad money - and whether they should be paying more tax here.
Live updates
Sir Mervyn King issues Help to Buy scheme warning
The outgoing Bank of England governor has warned that George Osborne's plan to boost the housing market is "too close for comfort" to a general state guarantee for mortgages.
Sir Mervyn King said there was "no place in the long run" for the Chancellor's Help to Buy scheme, which will see the Government will guarantee up to 15% of a mortgage on properties worth up to £600,000.
The scheme, which starts in January 2014, is due to run for three years, and Sir Mervyn warned it must not be allowed to become permanent.
In an interview which will be broadcast on Sky News' Murnaghan programme tomorrow, Sir Mervyn said: "I'm sure that there is no place in the long run for a scheme of this kind.
"This scheme is a little too close for comfort to a general scheme to guarantee mortgages. We had a very healthy mortgage market with competing lenders attracting borrowers before the crisis, and we need to get back to that healthy mortgage market.
"We do not want what the United States have, which is a government-guaranteed mortgage market, and they are desperately trying to find a way out of that position.
"So, we mustn't let this scheme turn into a permanent scheme. Now when is the right time to terminate it will depend on economic conditions at the time".
Ocado shares up 40% following Morrisons deal
Ocado shares jumped more than 40% following the announcement, while Morrisons was up by 1% in the FTSE 100 Index.
Advertisement
Ocado will 'continue to source products' for Waitrose
Ocado chief executive Tim Steiner said the agreement with Morrisons would have no impact on its existing arrangements.
We will continue to source products under our long-term agreement with Waitrose, and our customers will continue to benefit from the existing high levels of service, wide range of products and competitive prices that they currently enjoy.
Ocado move a 'significant strategic step for Morrisons'
The launch will see the retailer use Ocado's recently opened distribution centre in Warwickshire for deliveries through a Morrisons-liveried fleet.
The 25-year deal involves Morrisons paying up to £170 million to Ocado to acquire the site and equipment.
– Morrisons chief executive Dalton PhilipsThis agreement is a significant strategic step for Morrisons.
From a standing start, Morrisons will be competing in the fast-growing online channel by the end of this year with a really compelling proposition.
The customer gets our affordable fresh food delivered by Ocado's state-of-the-art distribution system.
Morrisons to start online deliveries with Ocado
Supermarket Morrisons is to start its online groceries business by the end of this year after unveiling a tie-up with delivery firm Ocado.
Ocado is closely linked with Waitrose, exclusively delivering the supermarket's products - as well as its own and those of branded ranges - to its customers and the move is likely to spark a backlash.
Mark Price, managing director of Waitrose, recently told The Sunday Telegraph its lawyers would seek to examine any tie-up between the other two companies.
Google branded 'devious' over its UK taxes
Google was branded "devious," "calculating" and "unethical," as furious MPs stepped up pressure on the internet giant over its efforts to shelter its multi-billion profits from UK taxes.
MPs from the Public Accounts Committee quizzed the company's UK boss Matt Brittin as to why he has sales staff in the UK while registering profits from sales deals in Ireland - where tax is 10 percent lower.
ITV News Business Editor Laura Kuenssberg reports:
Read: Laura Kuenssberg's blog: 'Call a spade a spade' - Google under attack
Advertisement
Vince Cable: Europe the world's 'largest trading market'
by Mark GoughVince Cable told an Anglo-American business conference tonight that for all its problems, Europe is the largest trading market in the world.
He said no friend of British business would advocate breaking from Europe, but said there must be reform.
Starbucks: We are on track to pay 'significant tax'
– Starbucks spokespersonWe are on track to implement the unprecedented commitment to pay a significant amount of tax during 2013 and 2014.
Number 10: Spill costs 'ultimately an issue for BP'
Downing Street said that Mr Cameron has not spoken with BP about their concern about the rising compensation costs from the 2010 Gulf of Mexico oil spill, nor did he raise the issue with president Obama or other US authorities during his visit last week. A Number 10 spokesperson said:
Ultimately this is an issue for BP. The Prime Minister will always listen to the concerns of British businesses and consider any issues raised.
Read: BP 'urges PM to help' with Gulf of Mexico oil spill costs
Tax expert: Committee has become a 'kangaroo court'
by Laura Kuenssberg - Business EditorA tax expert tells me the Public Accounts Committee has become a "dangerous kangaroo court". He says Margaret Hodge risks "undermining rule of law".
He adds the committee is "out of control" and Margaret Hodge is displaying double standards.
