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Drivers face an inflation-busting rise in the cost of petrol and diesel as the price of oil soars, industry experts warned last night. The cost of filling up a family car has already risen by almost £8 since early this year after unleaded jumped from around £1 a litre to more than 114p. But the Petrol Retailers Association (PRA) said drivers should brace for prices to rise by another 6p a litre or more to around 120p – adding more than £3 to the price of a tank of fuel.
Local authorities should consider lower speed limits, clean air zones and even redesign speed bumps in a bid to reduce air pollution, health experts say. The National Institute for Health and Care Excellence (NICE) said “smooth” driving would cut air pollution, linked to 25,000 deaths a year in England. But pollution experts said the measures will only make small improvements.
Toyota wants to release a new version of its hydrogen-powered Mirai in time for the 2020 Tokyo Olympics, underscoring its commitment to fuel-cell vehicles despite joining the global market for battery-powered cars. “The 2020 Olympics could be the venue to showcase [the new Mirai] to the world,” Kiyotaka Ise, head of advanced research and development at Toyota, told the Financial Times. The world’s top selling carmaker this month disclosed ambitions to join Tesla and Nissan in the crowded battle to build long-range battery-powered cars.
A war of words between central bankers over the City of London’s relevance after Brexit erupted on Wednesday when Mark Carney warned the rest of Europe that it would lose “crucial” financial services if it prevented European companies from doing business in London. The Bank of England governor’s defence of the City came just days after Mario Draghi, president of the European Central Bank, said it was Britain that would “first and foremost” feel the pain of Brexit, predicting there would be questions of “sovereignty” over where Eurozone financial trades take place. Such megaphone diplomacy is extremely rare in the world of central banking and highlights the tension of the looming negotiations over Britain’s exit from the EU.
Foreign Secretary Boris Johnson has privately told at least four EU ambassadors that he supports freedom of movement – despite the Government’s hard stance on Brexit. The high-ranking diplomats were speaking under the Chatham House rule, which allows their comments to be reported, but not directly attributed. One ambassador said: “(Boris Johnson) told us he was personally in favour of it, but he said that Britain had been more affected by free movement of people than other EU member states.”
American companies added more employees to their workforces in November than expected, a leading forecaster said yesterday. Employment outside farms rose by 216,000 last month, well above an expected increase of 160,000 jobs, according to ADP, a payroll processor. Strong employment figures would provide further evidence to the Federal Reserve that an interest rate rise is necessary this month.
RAC engineers have been advising motorists to replace perfectly healthy batteries with new ones, an undercover investigation has revealed. In 80 per cent of cases where RAC mechanics attended fake breakdowns during the investigation mechanics advised customers with flat batteries to buy new ones. The batteries had already been tested by experts to verify they were in a good condition before the breakdown mechanics arrived.