Paradise Papers expose tax avoiders, British businesses brace for Brexit, and more trending news

The news professionals in the UK are talking about now, curated by LinkedIn’s editors. Join the conversation in the comments below.

The next Panama Papers? A massive leak of 13.4 million files, dubbed the "Paradise Papers," has revealed how government officials, corporate giants and others used offshore tax havens to dodge taxes or cover up investments, according to the BBC. Among the findings, shared by investigative journalists, are investments by Russian-owned companies in tech giants like Facebook; US commerce secretary Wilbur Ross’ stake in a company closely tied to Russian president Vladimir Putin's family; and investments by the Queen in offshore accounts that funded the company behind BrightHouse. More big names will be released this week. ? Share your thoughts: #ParadisePapers

British businesses are already bracing for Brexit. Some 10% of British firms have already started slowing recruitment or moving staff to mainland Europe ahead of the UK’s exit from the EU. Research from the Confederation of British Industry (CBI) found 60% of businesses plan to trigger contingency plans before the end of March if a clear Brexit deal isn’t settled by then. It also found 13% of companies haven’t yet discussed Brexit at board level, with CBI president Paul Drechsler telling those firms to “roll up their sleeves".

The rise of the robots will hit England’s poorest towns and cities the hardest, a report from think tank Localis suggests. The likes of London and Brighton will be best prepared for the upheaval caused by automation (paywall), as the young, highly skilled and flexible workforces in both cities will adapt well to changes in their industries. Other areas may suffer, though, because they’re failing to equip workers with necessary skills for industries of the future. "Simply put, our population is too low-skilled for the high-paying industries we are developing,” said Localis CEO Liam Booth-Smith.

UK vehicle sales fell 12% in October, marking the seventh consecutive month of decreases. The market will continue to decline for the rest of the year and throughout 2018, the Society of Motor Manufacturers and Traders said, before rebounding in 2019. Sales of diesel vehicles plummeted by almost a third from October 2016 to last month, following the scandal over rigged emissions tests. However, electric and hybrid cars continued to increase in popularity, with sales rising nearly 37% year-on-year.

Around 150,000 workers are getting a pay rise, as the ‘real living wage’ goes up by 45p per hour to ￡10.20 in London and by 30p to ￡8.75 across the rest of the country. Created by the Living Wage Foundation, the rate is designed to meet the actual cost of living, with this latest increase combatting the official rate of inflation – currently at 3%. It’s not compulsory, like the government's national living wage, but many employers have adopted it nonetheless, including Ikea, Barclays and Google.

Idea of the Day: Passion and business may seem like contradicting forces based on their classic definitions. But if leaders want to rally others to take action, they must utilise both, says Oracle France managing director Gérald Karsenti.

“While managerial action is essential, it is not enough to reach out-of-the-ordinary goals, objectives that exceed usual standards, that are beyond what can be expected even from the best of teams. Passion allows you to rally others behind you, to get them involved in a strong and confident movement.”

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