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PRESS DIGEST- Financial Times - Sept 19

Sept 19 The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

* McDonald's could face EU order to pay almost $500m in back taxes (on.ft.com/2cVHkkO)

* Airbus prepares to launch restructuring and cost cuts

(on.ft.com/2cIwBXq)

* Rolls-Royce cuts 200 management posts

(on.ft.com/2cIHU1P)

* Wells Fargo scandal turns focus on bank pay

(on.ft.com/2dbNb4Q)

Overview

McDonald's potentially has to pay $500 million in back taxes to Luxembourg, according to a Financial Times analysis of an investigation by Brussels into state-supported tax avoidance. The company is under investigation by Brussels over a tax ruling that allowed it to pay no corporation tax - either in the U.S. or Luxembourg - on royalty income from restaurant franchises across Europe.

The chief executive of Airbus Group, Tom Enders, is preparing to launch a new reorganising and cost cutting initiative to offset costly delays to aircraft programmes and minimise losses on the A380 superjumbo.

Rolls-Royce is cutting more than 200 management jobs as part of its ongoing restructuring. Employees were told last week of the latest departures from middle management ranks across the group.

Keith Mestrich, chief executive of trade union-backed Amalgamated Bank, says he is reviewing pay for rank and file workers in the wake of the sham accounts scandal at Wells Fargo , and called on the rest of the industry to do the same. (Compiled by Shivam Srivastava in Bengaluru; Editing by Peter Cooney)

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