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Tuesday BriefBack

BBC News

 

UK inflation rate hits two-year high Inflation

UK inflation rose to 1.2% in November, up from 0.9% in October, as measured by the Consumer Prices Index. The November figure was the highest rate since October 2014, when it stood at 1.3%.

Increases in the prices of clothing, fuel and hotel and restaurant charges were behind the slightly higher than expected rise. Those increases were partly offset by falls in air fares and food and non-alcoholic drinks.

 

 

The Financial Times

 

Hammond calls for transition deal to ease final break with Brussels phillip hammond

Most senior figure to question clean exit

Remarks take number 10 by surprise


Chancellor Philip Hammond called yesterday for transition arrangements to “smooth” Britain’s exit from the EU, the most senior cabinet figure to publicly suggest there might not be a clean break with Brussels in 2019.

 

Report sheds new light on gender gap
A study has found that lowering earnings, less secure employment, longer periods of ill health and more caring responsibilities leave women more at risk of financial difficulties than men.

 

Opec deal with Russia drives oil beyond $57

Oil prices have surged above $57 a barrel for the first time since July last year, after Opec over the weekend clinched a long-sought supply pact with Russia and other big exporters outside the cartel. Moscow led a loose coalition including Oman, Mexico and Kazakhstan in a deal to cut supply by 558,000 barrels a day. The accords amount to the first global supply pact since 2001 as producers battle to reverse a two-year price crash.

 

Davis asks car chiefs to list Brexit costs brexit car prices
David Davis has said he will take a “data driven” approach to Brexit negotiations as he was lobbied by senior motor industry executives anxious about the effects on their sector of leaving the EU. At a private meeting yesterday with the UK’s largest car manufacturers, the secretary for exiting the EU promised a “calm and orderly” withdrawal. The government wanted “quantification” of the risks to businesses, added Mr Davis, according to those who were present.

These included “specific numbers” when it came to the foreign exchange risks, the impact of tariffs and other customs barriers, as well as the ability to hire people from overseas.

 

Europe will fight Trump protectionism, French minister vows trump 2
Europe is prepared to fight back against economic protectionism by the Trump administration with policies akin to those used to combat Chinese anti-competitive practices, according to France’s industry minister.

 

Companies & Markets

 

Splitting the fare – Honda hails Grab collaboration deal grab
Honda has invested in Grab, Southeat Asia’s rival to Uber, in the latest sign of a shift by vehicle makers towards offering car services as they face the prospect of declining car ownership.

 

The Times

 

Putin accused of ‘direct interference’ in election 

Sir Michael Fallon has highlighted a “disturbing pattern” of alleged Russian meddling in European elections and referendums, including in Bulgaria and the Netherlands.

 

AA warns over cost of petrol

The AA has told motorists that petrol prices are likely to rise next month, after the crude oil price jumped by 5 per cent yesterday.

 

Optimistic employers predict happy new year for hiring new staff brexit 18
Employers across the UK have shrugged off economic uncertainty from the Brexit vote, reporting the most optimistic outlook on hiring in three years. Manpower, one of the top recruitment companies in the UK, said companies had returned to a “business as usual” approach to hiring after a pause in plans after the EU referendum.

 

Europe is in no mood to grant our wish for an amicable divorce
Britain just doesn’t get it, officials in Brussels say. Westminster expects Brexit negotiations to be driven by logical economic outcomes that will deliver the best deal for all concerned. In Brussels, the sentiment is more abrasive. The negotiations will not be with a single homogeneous entity but 27 member states, each with their own pet agendas.

 

 

The Guardian

 

Peers pour scorn on idea that UK could be stronger outside the EU single market 

Britain is naïve to expect a “free lunch” in trade negotiations with the European Union, according to a scathing new House of Lords report that calls for a transition phase to ease the pain. “The notion that a country can have complete regulatory sovereignty while engaging in comprehensive free trade with partners is based on a misunderstanding of the nature of free trade”, warns the cross-party group of peers.

 

 

Automotive News

 

Delphi plans to launch driverless ride-sharing pilots in Europe, U.S. delphi car

This month, Delphi Automotive plans to name a U.S. city as well as one in Europe to launch an Uber-style ride-hailing service with self-driving vehicles. The supplier has previously identified Boston, Pittsburgh, London and Luxembourg as leading candidates, and spokesman Scott Fosgard confirmed last week that Delphi likely will announce its decision in December.

The U.S. and European pilot programs will be similar to a service Delphi plans to launch next year in Singapore, where six self-driving vehicles will shuttle passengers to and from mass transit stations. Delphi has not yet announced which model it plans to use for the Singapore fleet.

Posted by Paul Carpenter on 13/12/2016