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More than 40 miles of roads in Coventry will be equipped with technologies to aid autonomous vehicles, the government has announced. It is one of eight projects aiming to develop driverless-car technologies that will receive a share of £20m, from the government’s £100m Intelligent Mobility Fund. Another will focus on driverless shuttles for the visually impaired. Autonomous vehicles are already being tested, including in Milton Keynes.
The Financial Times
Britain’s factories enjoyed a brighter than expected start to the year, with solid domestic demand keeping large companies busy. The Markit/CIPS survey of purchasing managers hit a three-month high in January of 52.9, up slightly from 52.1 in December. A reading over 50 indicates activity is increasing.
The Daily Telegraph
Britain is heading for a June referendum on membership of the EU as it emerged that David Cameron will be offered a deal allowing the UK Parliament to block unwanted Brussels laws.
The Prime Minister will today welcome a draft deal to be published by Donald Tusk, the president of the European Council, setting out the reforms being offered to Britain ahead of the referendum.
The deal will include a “red card” system giving MPs the power to band together with other like-minded parliaments in member states to stop unwanted directives and repeal existing laws.
Volkswagen AG faces a Feb. 2 deadline to submit a repair plan for 80,000 diesel SUVs and larger cars that emit excess pollution, even as it considers buying back some vehicles and a prior fix plan for smaller vehicles was rejected.
The second largest automaker still hasn’t announced any timetable for winning approval from U.S. and California regulators to address excess emissions in 575,000 2.0 and 3.0 litre U.S. vehicles. In September, VW first acknowledged installing software that allowed diesel vehicles to emit up to 40 times legally allowable pollution. Last week, VW won approval to start fixing 8.5 million vehicles in Europe. VW says excess diesel emissions impact up to 11 million vehicles worldwide.
If the Bank of England raises interest rates to just to 1.75% by 2020, millions of us could be in trouble, a report has warned. The number of households with problem debts is predicted to soar by 700,000 by 2020. A report out today warns a big rise in those taking on debt, together with interest rates hikes, will lead to increasing problems for those with serious money worries. An estimated four million households were at least three months behind with debt payments in the second half of last year, despite rock bottom rates slashing borrowing costs.