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News Round UpBack

 The Financial Times

Emissions scandal: email to VW’s US chief cited fines risk


The outgoing head of Volkswagen’s US operations was sent an email 16 months before the emissions scandal broke apparently alerting him to the risk that the German carmaker faced a multibillion-dollar fine in relation to the affair, according to leaked documents. VW, which is reeling from US regulators’ disclosure last September that it equipped diesel vehicles to cheat in emissions tests, announced late on Wednesday that Michael Horn would be stepping down immediately as president of VW Group of America “to pursue other opportunities”.


Reuters UK

Honda says working with GM on fuel cell manufacturing, parts procurement

Honda Motor Co. (7267.T) is in talks with General Motors (GM.N) over how to manufacture and procure parts for hydrogen fuel cell stacks as part of a technology development partnership, the Japanese automaker’s chief executive said on Thursday. CEO Takahiro Hachigo announced the update on the collaboration after Honda launched in Japan the Clarity, its first mass-market fuel-cell vehicle, which will run on hydrogen rather than petrol. Honda and General Motors have been collaborating on developing fuel cell technology since 2013.


Government loses parliamentary vote on longer Sunday trading hours

British Prime Minister David Cameron was rebuffed in parliament on Wednesday when members of his own party joined with opposition lawmakers to block government plans to allow shops to open for longer on a Sunday. In sometimes angry exchanges, lawmakers from all sides said there was little demand for such changes, which would put pressure on shop staff to work longer hours. Cameron’s party is already divided over a June 23 vote on whether Britain should remain in the European Union.


The Daily Telegraph

‘We can’t afford to get apprenticeship policy wrong’

This time next year we will be just days away from the introduction of a new apprenticeship levy. All large employers with a wage-bill of £3 million or more will have to contribute 0.5 per cent of it towards the levy – a significant chunk, if not all of most businesses’ annual training budgets. There is a real danger that, if employers do not buy-in to the new system, the cash will not reach the young people it is intended for and we will not meet the needs of industry. We are at a crucial stage in the evolution of apprenticeship policymaking and we cannot afford for it to fail. It’s essential that we understand how employers feel about new apprenticeship policy, particularly the introduction of the levy, and the likely impact the changes will have on their businesses.


The Daily Mail

Osborne’s warning of a 2p hike in fuel price: Chancellor says rise is justified because of collapse in the cost of oil

An increase in fuel duty of up to 2p a litre is justified in the wake of the collapse in world oil prices, George Osborne has warned MPs. The Chancellor told a private meeting of Conservative MPs that he could not be expected to extend the five-year freeze on fuel duty if oil prices remain below $50 a barrel. With oil now trading at just $40, Tory MPs expect Mr Osborne to impose a 2p hike in fuel duty in next week’s Budget, to help compensate for a sharp drop in revenues from the North Sea.

Posted by Lois Hardy on 11/03/2016