June 5, 2012 / 11:42 PM / 5 years ago

PRESS DIGEST - British business - June 6

The Times

BARCLAYS EXECUTIVES TO STAND TRIAL OVER 'TAX FRAUD'

Barclays' attempts to shed its reputation for aggressive tax avoidance suffered a setback yesterday when three of its executives were charged with tax fraud in Italy.

The Telegraph

IMF MUST TAKE CONTROL OF EURO, SAYS UK'S TYRIE

The International Monetary Fund must take decisive control of the euro zone crisis or risk a "global economic fire", Andrew Tyrie, the chairman of the British parliament's Treasury Select Committee has warned.

UK BANKS SITTING ON UNDECLARED BILLIONS

Britain's banks are sitting on a 40 billion pound ($61.48 billion) black hole of undeclared losses that are preventing them from making vital loans to businesses and households, according to PIRC, the shareholder advisory group.

UK POUND SHOPS LEAD WAY IN SUPERMARKET PRICING

More than one in six products being sold in supermarkets are now priced at exactly 1 pound or 2 pounds, highlighting how the pound-shop revolution has started to affect long-established rivals.

The Guardian

G7 FINANCE MINISTERS BACK GREATER EU FISCAL UNION

Finance ministers from the developed world have thrown their weight behind moves towards greater "fiscal and financial union" in the euro zone as the best way to tackle the debt crisis threatening to destroy the single currency.

The Independent

SAUDI ROYALS' SECRET $1 BILLION US EMPIRE

A secret $1 billion U.S. property empire amassed by members of the Saudi royal family is the subject of a bitter legal dispute that threatens to reveal the extent of the family's American business interests.

UK'S OSBORNE TO ASK SAVERS FOR MONEY

British finance minister George Osborne is drawing up plans to use Britain's army of small savers to boost the country's growth prospects.

$1 = 0.6506 British pounds Reporting by Stephen Mangan

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