What the papers say - May 16, 2007

Enterprise Inns, Britain's second biggest pub owner, is talking to HM Revenue & Customs about whether it can include the money that landlords pay for beer, known as "wet rent", to allow it to convert into a real estate investment trust (REIT) without splitting the group in two. To become a REIT, a property-managing company that pays little or no tax on earnings, a company must generate 75 per cent of turnover from rental income - The Financial Times​

Catering group Compass reported a 42pc jump in profits for the first half and said it was working on turning around its UK operations. The group, which caters for schools, the Army, the Wimbledon tennis tournament and Newmarket racecourse, said that sales slipped to £5.19bn in the first half from £5.28bn - The Telegraph​

Energy bills may have fallen but inflation in other parts of the nation's "shopping basket" is proving a more stubborn problem. Alcohol and tobacco prices are rising at the fastest rate since the turn of the millennium. In all, goods prices are rising at an annual rate of 2.1pc, according to the Retail Price Index. This is the fastest rate for nine years - The Telegraph​

An anti-smoking TV campaign for the Department of Health that featured a man being dragged to a shop by a fish hook piercing his cheek has been banned by the advertising watchdog. The ad, which aims to highlight how hooked smokers are on feeding their addiction, drew 774 complaints to the Advertising Standards Authority - The Guardian​