The Independent on Sunday: MPs ‘barking up the wrong tree’ on Pfizer bid
A tax expert fears the US firm may have secret plans to move AstraZeneca’s drug trademarks – which include cancer and diabetese drugs – out of Britain to cut its tax bill after buying the UK firm. Moving to a jurisdiction such as Luxembourg would see the firm copying the tax structure used by Amazon.
The Sunday Times: Americans line up £10.5bn grab for Boots
Walgreens drugstore chain is examining a takeover of Britain’s biggest chemist, in the latest deal to be driven by tax flight from the US. The move would see Walgreens take full control of Alliance Boots and move its tax domicile to Britain or Switzerland to save billions of pounds a year.
The Sunday Telegraph: Marks & Spencer bids to soothe investors
Marks & Spencer chief Mark Bolland will reveal plans to boost shareholder returns and focus on improving profit margins when he announces a third year of declining profits this week. The clothing and food chain is expected to report a 8 per cent fall in pre-tax profits to £615m.