Wednesday newspaper round-up: Apple, wind farm, tax avoidance

Apple plans to open its first research and development centre in China later this year, the latest in a series of steps to bolster its presence in a vital region as sales slow down. Tim Cook, Apple’s chief executive, revealed the plans to increase investment in local R&D during a meeting this week with Zhang Gaoli, China’s vice premier. – Financial Times

Ministers have given the go-ahead for the world’s largest offshore wind farm to be built off the Yorkshire coast in an area nearly a third of the size of Greater London. The news was welcomed by power companies jolted by the government’s abrupt decision to review the £18bn Hinkley Point nuclear plant in Somerset last month. – Financial Times

City firms that help businesses run tax avoidance schemes could face huge financial penalties under fresh Government proposals. Banks, accountancy firms and lawyers could be forced to hand over underpaid tax if they are found to have broken the law. Currently, advisers who facilitate tax avoidance by exploiting loopholes and complex schemes face little risk, while their clients can be hit with heavy fines if they are defeated in court by HM Revenue and Customs. – Telegraph

The UK does not need EDF's proposed Hinkley Point new nuclear plant as it has plenty of alternative options for keeping the lights on, rival energy giant SSE has said. The importance of the £18bn project for the UK's energy needs "has been repeatedly overplayed", Alistair Phillips-Davies, SSE chief executive said, insisting offshore wind and gas plants could fill the gap if Hinkley was scrapped. – Telegraph

The US justice department is reported to have found evidence of Volkswagen acting criminally in connection with the emissions cheating scandal that plunged the German company into crisis. Federal prosecutors are weighing up whether to criminally charge VW and its employees or accept a multibillion-dollar settlement, according to the Wall Street Journal. The justice department and VW declined to comment on the discussions, which are said to have a soft deadline of Christmas 2016. – Guardian

A £3.4 billion bid for William Hill hung by a thread last night amid indications that Rank Group and 888 Holdings may be ready to throw in their cards. The bidding partners have had two offers rejected over the past ten days and are under pressure to up the ante again to persuade the William Hill board to agree to talks by this Sunday’s bid deadline. – The Times

Karen Millen has lost a High Court battle with her old company to regain the rights to use her name in business. The fashion designer sold the retail chain she founded with her ex-husband, Kevin Stanford, to Baugur, the Icelandic investor, for £95 million in 2004. The deal barred her from using her name in future ventures. – The Times