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Tuesday News DayBack

EU referendum: Michael Gove to argue leaving EU would liberate UK


Quitting the EU would be an act of liberation and patriotic renewal, Michael Gove is to say, as the war of the words in the debate intensifies. The justice secretary, who backs EU exit, will accuse those who want to stay of treating voters “like children who can be frightened into obedience”. It follows Treasury forecasts an exit could cost households £4,300 a year.


The Financial Times

Oil price fall capped by rebalancing hopes

Oil prices remained slightly weaker on Monday after a meeting of major exporters ended without a deal to freeze production but a major sell-off failed to materialise as the market focused on improving fundamentals.

Talks in Doha aimed at achieving the first global oil deal in 15 years broke up late on Sunday after Saudi Arabia toughened its stance and insisted Iran, a fierce regional rival, should be part of any agreement. The move stoked fresh fears of a price war among major producers


The Daily Telegraph

Toyota Suspends Japanese Vehicle Production After String of Earthquakes

The reported 6.5- and 7.3-magnitude earthquakes in Japan disrupted parts supplies to Toyota, the world’s largest automotive manufacturer. “We found damaged walls, broken windows, and assembly equipment out of position [in two factories],” a spokesman for Aisin Seiki Co., a supplier of Toyota door and engine parts, Due to parts shortages, Toyota released a written statement noting it will suspend vehicle assembly-line production in stages at more than a dozen different plants until parts availability is normalized. Affected lines include those at the Tsutsumi plant, which produces the popular Toyota Prius hybrid, and the Tahara plant, which produces a number of Lexus models, as well as those at other facilities producing vehicles for the Asian market.


VW Cheating Code Words Said to Complicate Emissions Probe

Volkswagen AG investigators are struggling to make headway through data secured from more than 1,500 laptops and other devices and probably won’t have a complete report on the carmaker’s emissions cheating by the end of the month, according to people familiar with the status of the investigation. The probe has been slowed by the use of dozens of code words, including “acoustic software,” for the illicit technology Volkswagen used to turn off pollution controls when cars were on the road, said the people, who asked not to be identified because the investigation is confidential


‘No excuse’ for firms cutting staff benefits to fund national living wage

Conservative frontbencher Nick Boles said there is “simply no excuse” for larger firms seeking to “evade” the impact of the new minimum wage for workers over the age of 25. He argued support – including cuts to corporation tax and business rates – has been developed to help them cope, although he cautioned against criticism of small firms which do not preserve all benefits immediately given the alternative may result in workers being fired. Mr Boles urged MPs to inform the Government of profitable businesses which are trying to “evade the spirit” of the new laws so pressure can be applied upon them.

Posted by Lois Hardy on 19/04/2016