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The Financial Times
The fracking industry has been given a shot in the arm as the government put local councils on notice that ministers will step in to override any “slow and confused” decisions on shale drilling applications
Signs of new balance of growth as unemployment rate holds steady and pay climbs solidly
Jobs growth has stalled in Britain for the second month running, but pay is rising solidly and productivity might finally be starting to recover.
The official jobs figures raise the possibility that the labour market recover is entering a new phase, now the employment rate is close to its record high of 73.5 per cent.
Companies and Markets
Oil glut until 2016, forecasts IEA
Supplies grow at ‘breakneck speed’
The global oil glut will persist well into 2016, the International Energy Agency, the west’s oil watchdog, has said, even as the collapse in prices is pushing up demand at the fastest pace in five years.
Oil from Canada’s tar sands has skidded towards $20 a barrel, a level not seen for international crude prices in 12 years, tightening the screws on energy companies and the economy of the world’s fourth biggest supplier
Chris Evans, the Radio 2 DJ presenter of Top Gear, is selling off £11million worth of classic cars.
The state of the country’s internet networks was defended by a minister yesterday after the government was accused of fostering broadband inequality between rural and urban areas.
Rising numbers of motorists are risking prosecution by lying to insurance companies to get cheaper premiums.
Research from the Association of British Insurers (ABI) shows that 212,000 dishonest applications were found last year, up by 18 per cent in 12 months. Thye most common lies included “forgetting” to disclose previous claims to protect no-claims bonuses, withholding unspent convictions and supplying a false address in a lower-risk vehicle crime area.
Unemployment has risen for a second month running in a surprise setback for Britain’s previously jobs-rich recover, amid signs that wages have also come off the boil.
Lookers, the motor retailer that also trades as Taggarts, Lomond Group and Charles Hurst in Scotland and Northern Ireland, enjoyed a 6 per cent rise in half-year pre-tax profits to £40million on revenues up 9 per cent to £1.75 billion.
The Daily Telegraph
Rising unemployment and slower UK pay growth weighted on the pound yesterday as domestic concerns and a slowdown in China pushed back expectations of an interest rate rise well into next year.
The driver of the bin lorry that crashed in Glasgow killing six people will not be prosecuted in Scotland but could still face charges south of the border, a fatal accident inquiry has heard.
World oil demand is expanding at its fastest pace in five years thanks to rebounding economic growth and low prices, but global oversupply will continue through next year.
The Daily Mail
There is strong demand for skilled workers in the motor manufacturing sector— and Jordan Vallis is taking advantage of it.
Jordan, 17, is an apprentice workshop fitter with MAN Truck and Bus UK based in Nuneaton, Nottinghamshire.
A pair of Norwegian scientists have driven one of Hyundai’s ix35 Fuel Cell vehicles (the first production fuel cell car on general sale) on a 1,489 mile trip around Germany in 24 hours.
(A promo film featuring the Uama FS1-E is on YouTube and crowd-funding is under way to fund a feature-film)