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Tuesday newspaper round-up: RBS, Oil prices, Apple…

Your Money
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Your Money
Posted:
Updated:
21/05/2013

Cable urges RBS to lend more to SMEs; Oil price probe reaches Glencore; Apple to face tax grilling.

Business Secretary Vince Cable has demanded that part-nationalised lender RBS increase its lending to Britain’s small- and medium-sized companies to take more responsibility for the economy recovery, The Times says.

Financial Times says that the investigations into the potential rigging of oil prices has widened with the European Commission looking for new information from trading houses including FTSE 100-listed Glencore.

A report by the Senate Permanent Subcommittee on Investigations has claimed that tech giant Apple has avoided paying tens of billions of dollars in taxes by using a network of “highly questionable” offshore companies, writes The Times.

The Telegraph cites Goldman Sachs as saying that an exit from the EU would be a “loss/loss scenario” for the UK.

The head of the Financial Conduct Authority, Martin Wheatley, has said that an EU cap on bonuses could have the perverse effect of leading to a doubling of salaries, according to The Guardian.

Policy Exchange has called on the government to freeze business rates in an effort to stop the spiralling number of store closures on the High Street, writes The Independent.