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PRESS DIGEST- British Business - Sept. 21

Sept 21 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

The prospect of a spin-off of GlaxoSmithKline's consumer healthcare division receded yesterday when the pharmaceuticals group appointed the head of the division to succeed Sir Andrew Witty as group chief executive. (bit.ly/2cHRLsP)

Royal Bank of Scotland's sale of a smaller lender to Santander is on the brink of collapse after talks broke down over the price of the business. (bit.ly/2cHSkCR)

The Guardian

Amazon has been found guilty of shipping dangerous goods by air. The items included lithium-ion batteries and flammable aerosols, which were flown in and out of the UK between January 2014 and June 2015. (bit.ly/2cHS6vR)

The European Commission will direct a further crackdown on tax avoidance by reviving a long-stalled plan to overhaul how companies report their profits, according to Europe's most-senior tax policy official. (bit.ly/2cHS72C)

The Telegraph

Bernard Matthews has confirmed that 2,000 jobs will be preserved at Europe's biggest turkey company after a pre-pack deal was reached to offload the business to food tycoon Ranjit Boparan, known as the "Chicken King." (bit.ly/2cHRW7x)

Microsoft has unveiled plans to buy back $40 billion of its own stock as part of a long-running programme by the cash-rich firm to support its share price and bolster its earnings. (bit.ly/2cHSquj)

Sky News

Sports Direct has bowed to pressure and ditched a plan for its own lawyers to lead a review of the company's working practices and governance. (bit.ly/2cHSk5R)

Sky News understands that the owners of Ed's Easy Diner have appointed corporate financiers at KPMG to undertake a rapid hunt for new financing. (bit.ly/2cHT37h)

The Independent

More than 5,000 financial services firms are "at risk" if Britain leaves the Single Market after Brexit, a senior Conservative MP has warned. (ind.pn/2cHSJWf)

Indonesia's tax authorities are planning to bill Alphabet's Google more than $400 million in back taxes and fines that the search giant allegedly owes from 2015. (ind.pn/2cHSqe1)

(Compiled by Vishal Sridhar in Bengaluru; Editing by Alan Crosby)

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