Over 10,000 admit to offshore tax dodge-papers

Just over 10,000 people with untaxed income hidden in offshore accounts have taken advantage of the Government's latest amnesty.

Britain's taxman said there are up to 5,000 British investors with an estimated £2bn-£3bn in secret Liechtenstein accounts, writes the Telegraph.

HM Revenue & Customs said 1,100 people came forward on Monday to qualify for reduce penalties as the midnight deadline neared.

But a source said the 10,000 figure included those using a separate amnesty for accounts held in Liechtenstein. Full story…

KRAFT’S takeover bid for Cadbury was thrown into doubt after the US food company's biggest shareholder voted down plans to issue new shares to pay for the deal.

Billionaire Warren Buffett, one of the world's most respected investors, called on the rest of Kraft's shareholders not to write a "blank cheque" by agreeing to issue 370m new Kraft shares, at a time when he believes the stock is undervalued at around $27 (£17) a share. Full story…

ICELAND has been warned it risks international isolation after the country’s president blocked a deal to repay Britain and the Netherlands almost €4bn ($5.7bn, £3.6bn) lost in a failed Icelandic bank.

The British and Dutch governments condemned the decision by president Ólafur Ragnar Grímsson and hinted at repercussions for Iceland’s bid to join the European Union and for its $10bn international economic rescue programme, writes the FT. Full story…