GLOBAL advertising giant WPP is considering moving its tax base back to Britain from Ireland after the British government yesterday outlined a multi-year plan to lower its corporation tax levels and relax tax-haven abuse legislation in its latest budget.

The British Chancellor’s budget tax cuts for businesses received early endorsement today after advertising giant WPP today said it was likely to switch its headquarters back to the UK.

The London market leapt to its highest level for 18 months today after US unemployment figures eased economic concerns about the world's biggest economy.

THE world’s second biggest advertising firm, WPP, has confirmed it is moving it headquarters to Ireland from Britain.

ENGINEERING holding company, Charter Group has become the latest British-owned business to announce plans to move its tax base to Ireland as a cost-cutting initiative.

Industrial group Smiths today signalled that it may become the latest company to join the tax exodus from the UK.

Former CBI director general Adair Turner is set to become the new chairman of the City (London) watchdog Financial Services Authority, it was reported today.

MORE British-based firms have joined the list of companies considering a move to Ireland for tax purposes.

PUBLISHER and events organiser United Business Media (UBM) is considering moving its tax base to Ireland from Britain, The Sunday Business Post reported.

The break-up of FHM and Heat publisher Emap remained on track today after the media group reported “good interest” in all of its assets.

FHM publisher Emap is today said to be in talks with banks to offer loans to bidders interested in buying its businesses.

Emap’s consumer magazine division has attracted interest from the US publisher of Maxim, it was reported today.

Italian magazine publisher Mondadori, controlled by former Italian Prime Minister Silvio Berlusconi, is looking to snap up Emap’s consumer magazines arm, it emerged today.

Private equity firm Apax has made a £1.3bn (€2bn) approach for a major slice of magazines and radio group Emap, it was reported today.

Insurers provided a boost to the London market today as investors welcomed an upbeat set of results from Prudential.

The FTSE 100 Index pushed ahead today as investors celebrated positive figures from blue-chip companies Prudential and Morrisons.

Publishing group United Business Media (UBM) has agreed to sell its share in Channel Five to RTL for £247.6m (€356.8m), it announced today.

Gains by drugs stocks were not enough to tempt investors into the wider London market today as a slump in global indices took its toll.

Publishing group United Business Media (UBM) today said it was investigating a number of approaches to buy its market research business NOP World.

The FTSE 100 Index ended the week in the red amid weak US economic news and caution about Sunday’s election in Iraq.

The London market recovered some of its early losses today as investors shrugged off a gloomy sales update from US microchip maker Intel.

Non-executive director of drinks giant Diageo Clive Hollick is to step down as chief executive of UK publishing-to-market research group United Business Media, the company said today.

Companies reporting in Britain in the week beginning February 24 include:

Publishing firm United Business Media said its high-tech publishing division CMP Media had increased its market share to 26.1% in December.

Publishing group United Business Media showed it was still feeling the impact of the slowdown in its key US hi-tech market today as it fell into the red for the first half of the year.

The FTSE 100 Index is down 18.8 points at 5223.2 after losing modest gains achieved in the opening few minutes of trading.

The Footsie has closed just above the 5,000 barrier, after falling 22.9 points.

The Footsie index of 100 leading stocks is up 45.2 points at mid-morning to stand at 5077.9, having pulled back from an earlier 35-point fall.

Marconi and Carlton are among companies facing relegation from the FTSE 100 index.