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For the first time, Deloitte Touche Tohmatsu has released its worldwide tax fee income results.

ICI has taken its case for consortium relief to the European Court of Justice. The Advocate-General’s opinion may not satisfy ICI, but it does imply the liberalization of consortium relief for EU businesses. By Murray Clayson of Freshfields, London

An international group of investigators is said to be examining the tax affairs of global media group News Corporation. The rumoured investigation is thought to involve senior tax investigators from tax authorities in the UK, US, Australia and Canada. A spokesman for the UK's Inland Revenue would neither confirm nor deny the story, adding that the affairs of individual companies are never discussed. However a prominent international tax lawyer has told International Tax Review that even if there is as yet no investigation, the adverse publicity will probably ensure one.

Switzerland's consumer products group Nestlé is to purchase the Spillers pet food business from UK food group Dalgety. The deal is worth £715 million ($1.2 billion) and is still subject to regulatory clearance. The acquisition will give Nestlé 20% of Europe's branded pet food market.

Scottish Equitable has disposed of Aegon Financial Services Group to the UK's Life Assurance Holding Corporation for an undisclosed sum.

EC Tax Law

Failure by a member state to fulfil obligations — Directive 90/434/EEC — Failure to transpose.

UK department store Debenhams is to be introduced to the London Stock Exchange, following its demerger from The Burton Group. It is expected to have a market capitalization of approximately £1.5 billion ($2.4 million).

Royal Bank of Scotland has acquired GRS Holding Company from a shareholder group led by Nomura International. GRS is the holding company of Angel Train Contracts, a rolling stock leasing company.

Spain's 1998 budgetary measures have introduced some amendments to the methods for mitigating economic double taxation of dividends distributed by non-resident subsidiaries. These methods are described briefly below.