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What the Papers SayBack

The Financial Times

White House climate plan hits shale gas


Obama backtracks on support fro fracking and gives nod to renewables

Companies and Markets

Suzuki hits high as Loeb discloses fund holds stake

Shares in Suzuki motor sped to record highs yesterday after Daniel Loeb, the US activist investor, disclosed that his fund had bought a stake in the Japanese carmaker

In its quarterly letter to investors, Third Point— the hedge fund run by Mr Loeb— said it was encouraged by signs of a possible end to Suzuki’s long-running spat with Volkswagen that has “paralysed the company”. The fund did not disclose the size of its stake.

Uber fights Australia sales tax ruling

Uber is taking legal action against a ruling by the Australian Taxation Office aimed at forcing it to levy a sales tax on customer fares

Allianz leads autobahn service station buyout

An Allianz-led consortium has bought Germany’s leading chain of autobahn service stations from Terra Frima, the British buyout group owned by Guy Hands, in one of the most expensive infrastructure deals since the crisis

Kurdistan to start payments to oil companies

The government of the region of Kurdistan in Iraq has said it will start making monthly payments to international oil companies operating there from September, boosting the producers’ share prices

Oil drops below $50 amid Opec’s output push

Oil slid below $50 a barrel yesterday, extending last month’s losses to hit the lowest level since January due to signs growing production will continue to outstrip supplies

ICE September Brent crude— the global benchmark— fell 18 per cent in July. In the first session of August, it fell another 4 per cent, losing losing more than $2 a barrel to hit a six-month low of $49.81.

The Times

Price of diesel drops 5p in a month

The cost of filling a diesel car has dropped by almost £3 in a month amid an escalating forecourt price war, according to research.

A study by the RAC found that the average price of diesel fell by 5p a litre in July, providing a boost to families embarking on their summer holidays.

Avenues of trees raise risk from air pollution

Avenues of trees on urban streets can damage the health of pedestrians by trapping air pollutants beneath their canopy, research suggests.


Factories ‘suffer drag’ of heavyweight pound

The strong pound has continued to hammer manufacturers with export orders falling for a fourth month running.

Export target will be missed by 14 years, warn UK bosses

A government target to double the value of British exports by 2020 will be missed by a margin of 14 years, a business group has warned.



The Guardian

Nokia’s mapping business sold to German car giants

Audi, BMW and Daimler unite to acquire Here unit

New generation ready for driverless revolution

Three German carmkers have put their rivalries aside by teaming up to acquire a €2.8bn (£2bn) mapping business from Nokia as they attempt to avoid being outsmarted by technology groups in the race to cash in on the driverless car revolution.


Technology giants in drive to change motoring

The Here deal represents Audi, BMW and Daimler’s fightback against a tech sector encroaching on carmakers’ territory. But they are taking on businesses that have considerable cash resources and are not encumbered by the need to develop conventional vehicles at the same time.



Posted by Lois Hardy on 04/08/2015