Goldman Sachs' chief executive, Lloyd Blankfein, has admitted that media pressure forced the Wall Street bank to drop its plan to save its British employees millions of pounds in bonuses through tax avoidance. "We were very, very influenced by the press, and that's certainly not embarrassing. We have to take account of it," said Mr Blankfein at the World Economic Forum in Davos.
The Sunday Times: Bumi's board hits back at investor Nat Rothschild
Nat Rothschild's attempt to stage a coup at the London-listed Indonesian coal empire he created will be hit by a fresh setback this week. Rothschild has tabled a proposal to sack 12 of the 14 directors at Bumi. But the chief executive, Nick von Schirnding, is expected to unveil a boardroom shake-up he hopes will convince investors that Mr Rothschild's coup is unnecessary.
The Mail on Sunday: MPs to quiz tax accountants from 'Big Four' firms
Tax experts at KPMG, Deloitte, PricewaterhouseCoopers and Ernst & Young are set to be grilled this week by MPs on the Public Accounts Committee, chaired by Labour's Margaret Hodge, about tax avoidance schemes. It comes in the aftermath of criticism of firms such as Amazon and Google and following David Cameron's demand for companies to pay more corporation tax.
The Sunday Telegraph: New Bank of England Governor Carney to put growth top of list
The incoming Governor has signalled that he will put growth at the heart of his approach to the job and is willing to see higher inflation for longer to support the economy. Mark Carney said that although price stability was central, there were "tolerances" concerning the speed with which inflation would be brought down if the economy was struggling. Economies need to reach "escape velocity", he said.Reuse content