UK Business News

Taxman plans to call in City law firms

HM Revenue and Customs say it will pursue a zero-tolerance strategy against individuals and companies who avoid tax

John Kinnaird steps into Faith shoes

The retail entrepreneur, who owns clothing firm Envy, has teamed up with an investment fund specialising in distressed companies

• Shoe bosses put faith in buyout

• Dolcis shoe chain goes into administration

Dynasties back green giant

Some of Britain’s most prominent business families have led a £57m fundraising to set up Europe’s largest venture-capital fund

• Rich environment for investors

• Russian enterprise keen for green revolution

Power suppliers face fuel-poverty bill

The government may force power generators into paying for part of the £1bn fuel-poverty package it hopes to unveil soon

Google's tenth birthday

In search of technology’s new frontiers

After ten years Google has achieved a stunning presence on the internet. Its ambitions are even wider, reports Mike Harvey

Silverstein lost in admiration for giant’s growth

Craig Silverstein, who became Google Employee No 1, was blown away when he saw the initial demonstration of the search engine

• New Google browser turns up heat

• Microsoft browser could hit Google

World Business News

EDF close to victory on British Energy

The French energy group has improved the terms of a bid that was rejected at the end of July by two large shareholders

Windfall as wine firm goes Dutch

Armit is to sell a majority stake to a Dutch rival in a deal that values the firm at about £14m, including its debt

• Johnnie Walker: Whisky galore

• Diageo cuts forecast as drinkers stay at home

Nokia says market share is shrinking

The world’s biggest mobile phone maker said it was being undercut by rivals trying to gain a share in a weak global market

• Television viewing goes mobile with BBC and Nokia

• Nokia takes on Apple with unlimited music

Iran says oil price is right at $100 a barrel

Oil prices fell closer to $100 today, nearly 30% below July's peak, as Opec prepares to meet in Vienna next week

Analysis

Tough times for dame of the LSE

Clara Furse, head of the London Stock Exchange, has shown she can handle herself in battle, but now she has to do it again

Sterling pounding but not a bloodbath

The tide has gone out on sterling and, to paraphrase Warren Buffett, it does not appear to have been wearing any bathing trunks

Adviser's alibi doesn’t add up

David Stockman is fighting US government claims that he defrauded shareholders in Collins & Aikman, a Detroit-based manufacturer

Money 

Invest with the cream of society

The Guinness family’s wealth managers are launching a retail fund

• Guinness story moves from riches to rags

• Diageo to cut jobs in plan to fortify Guinness

Millions to gain from tax rebate

Many taxpayers will be £60 better off this month following a government u-turn

• How the 10p tax u-turn will affect you

• Scrapping of 10p tax rate will hit millions

Lenders rake in millions in fees

Mortgage lenders have been accused of employing underhand moves to boost their profit margins – tripling their loan fees

Law 

FSA challenged over insider trading case

A father and son accused by the financial watchdog have asked for the criminal case against them to be thrown out

• Eight released after FSA swoop face questions

• FSA continues crackdown on insider trading

Anthony Julius caught in conflict of interest row

Mishcon de Reya litigator emerges at the centre of a conflicts of interest battle between a charity and its former CEO

• Princess Diana, Heather Mills and now Avram Grant

• Grant enlists Diana lawyer to fight Chelsea

'Fat Man' wins battle over £2m debt

Syrian billionaire and high stakes gambler Fouad al-Zayat has won his High Court case against Aspinall's, the Mayfair casino

business travel 

Summer business class sales extend into September

British Airways, Virgin and bmi aim to win premium traffic with offers throughout autumn and winter

Airline failure: are you covered?

Airline failure insurance seems like a good idea but it doesn't cover every carrier

• No such thing as a free lunch for US business travellers

• Why your airfare is different from your neighbours

BA opens dedicated business check-in at Heathrow T5

Premium passengers will no longer have to share check-in desks with those in economy