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PRESS DIGEST- British Business - Nov 12

Published 12/11/2015, 12:16 pm
Updated 12/11/2015, 12:20 pm
© Reuters.  PRESS DIGEST- British Business - Nov 12
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Nov 12 - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

The Times

BHP Billiton Plc BLT.L and its Brazilian partner are to set up a fund for victims of the mudslide that destroyed a village in a valley below a huge iron-ore mine. An initial $100 million will be committed to the fund, it is understood.

More than 1 billion pounds ($1.52 billion) of taxpayers' money could be saved over the next four years by cutting the government's use of private contractors by 25 percent, according to a report from Policy Exchange.

The Guardian

Apple Inc's AAPL.O chief executive, Tim Cook, has said a looming European Union tax ruling on the company's dealings with Ireland would not affect its presence in the country, where it declares much of its overseas profit, and where it is hiring 1,000 extra staff.

German car regulators are expanding their investigation into suspected diesel emissions manipulation beyond Volkswagen (DE:VOWG) AG VOWG_p.DE to more than 50 models from brands including BMW, Mercedes, Ford, Volvo, Nissan and Jaguar Land Rover.

The Telegraph

HM Revenue & Customs is to close all 170 of its offices across the country in favour of 13 new regional tax centres as part of a major restructuring designed to shave hundreds of millions of pounds from its budget.

Icap Plc IAP.L has agreed to become the biggest shareholder in Tullett Prebon Plc TLPR.L in a deal that will offload Icap's voice broking business onto its smaller rival.

Sky News

BhS, the department store chain previously owned by Sir Philip Green, is in the early stages of negotiating a deal to borrow millions of pounds, using the chain's inventory as collateral.

Bank of England governor Mark Carney has said he hopes people will start respecting bankers despite acknowledging that "bad apples" remain in the system.

The Independent

Britain has signed a deal worth up to 100 million pounds ($152.19 million) to export around 750,000 tonnes of the grain to Chinese breweries over the next five years.

($1 = 0.6571 pounds)

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