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EU Brexit negotiators are insisting Britain agrees to its European divorce settlement before Brussels offers any transitional deal, expecting international banks to get cold feet over losing “passporting” rights and start shifting operations from London to the eurozone. British chancellor Philip Hammond said this month that he wanted to discuss an interim deal “early on in the negotiations” to reassure the City of London that there would be no regulatory cliff-edge in March 2019, the date set for Britain’s exit from the union.
Oil industry on the cusp of cash flow recovery
The world’s major oil and gas companies will turn cash flow positive for the first time in three years in 2017 if the Opec production cartel succeeds in keeping the oil price above $55 a barrel. That is the conclusion of Wood Mackenzie, the respected energy consultancy, in a new report that portrays an industry on the cusp of recovery from the steep declines in earnings and investment seen since crude prices crashed in 2014.
The UK manufacturing industry recorded some of the biggest job losses last year, impacted by international competition and technological advances. According to accountancy group UHY Hacker Young, the industry had some of the biggest job losses of all sectors across the UK economy. Out of 69 sectors measured for job creation, manufacturing made up three of the worst five areas for percentage change in employment numbers last year.
Complaints over parking tickets have soared by more than 50 per cent in a year after a surge in the number of car parks monitored by automatic number plate (ANPR) cameras. Figures show that almost 50,000 appeals were lodged with the main body set up to scrutinise private parking over the past year, leading to claims that technology is being used to “entrap” drivers. Adjudicators said that just over half of cases were decided in the motorists’ favour or the appeal was withdrawn, usually after the parking operator cancelled the ticket.
An increase in carmaking jobs has been among the few bright spots in an otherwise gloomy outlook for employment in the manufacturing sector this year, according to research being published today. Manufacturers suffered some of the biggest job losses of all sectors across the economy, according to a report from UHY Hacker Young, the national accountancy group. Out of 69 sectors, chemicals was affected most severely.
The problems with introducing driverless cars are greater than you identify in your editorial (Intelligent cars raise questions that only society can answer, 16 December) and yet almost certain to be ignored. No amount of testing can prove them as safe as human drivers unless the software is frozen and never updated. Verifying the behaviour of machine-learning systems is an unsolved research challenge. There are major problems of cybersecurity – many of the sensors and communications have already been hacked.
Britain’s science and technology industries are expected to lead another leap in hiring next year, in another vote of confidence in the economy following the Brexit vote, according to the Confederation of British Industry. The country’s jobs-rich recovery will be given a big boost as “almost every part” of the private sector hires more staff over the next 12 months, the UK’s business group’s annual employment survey found. The research showed 41pc of companies expect to grow their workforces in 2017, compared with just 13pc that believe their payrolls will shrink.
Money grabbing councils are in line to be handed unprecedented new powers to fine motorists, the Sun can reveal. Motoring organisations reacted with fury last night as it emerged control of ‘moving traffic offences’ could switch from the police to town halls. The proposal was drawn up by Lib Dem peers and backed by Labour in the House of Lords. If approved by MPs in the New Year it will hand money councils the ability to slap fines on motorists who make a wrong turn, drive the wrong way up a one-way street or get stuck in a box junction. Currently only London boroughs are able to do this under a piece of legislation passed over a decade ago.