Affinity shopping portal will raise cash for consumers' chosen charities

 A new shopping website could raise more than £1m for UK charities in its first year, according to its creator.

 Netfundraising.org.uk is similar to other 'cashback' sites, through which registered retailers pay the website and shoppers a percentage of any items purchased.

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The Financial Times looks at how corporate philanthropy has changed since the dawn of the industrial age.

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British taxpayers are being left to plug a multibillion-pound hole in the public finances as hundreds of the country's biggest companies increasingly employ complex and secretive tax arrangements to limit the amount they hand over to the exchequer.

An extensive Guardian investigation has examined the accounts of the UK's biggest companies - many of them household names - and discovered a series of sophisticated tax strategies which, critics say, amount to an almost unstoppable tide of perfectly legal corporate tax avoidance.

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