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Osborne seeks safety ‘brake’ on EU laws to protect City
Britain is pressing for an “emergency brake” to safeguard the economic interests of non-euro countries, according to European ministers and officials privately sounded out about London’s EU reform wishlist.
Chancellor set for £100bn spending vow
George Osborne will today pledge £100bn of major project spending 2020 as he seeks to place infrastructure “at the heart” of next month’s spending review to allay fears of cuts to capital spending.
Oil plunge and retreat costs Shell $8bn
The Anglo-Dutch energy group has taken a huge $8bn hit from the fall in crude prices and its decisions to pull out of Alaska and axe a Canadian oil sands project. It also plans to shed 1,000 more jobs.
Cambridge super-batteries boost hopes for electric cars
A breakthrough in electrochemistry at Cambridge university could lead the way to rechargeable super-batteries that pack five times more energy into a given space than today’s best batteries greatly extending the range of electric vehicles and potentially transforming the economics of electricity storage.
VW drivers in line for £600m payout
Volkswagen may be forced to foot the bill for a £600 million drop in the value of its cars after the diesel emissions scandal. Patrick McLoughlin, the transport secretary, said that he was considering further measures against the car giant, warning that it has acted disgracefully over the crisis. The fall in resale value of VW cars was one of the issues it would have to address, he told MPs yesterday.
Leaving EU would hit Britain’s trade and triple A rating
Britain would face having trade barriers imposed and its credit ratings slashed if it left the EY, it has been claimed. Michael Froman, the most senior trade official in the US, said it was unlikely that Washington would give Britain a special trade deal if voters backed exiting. His intervention coincided with Standard & Poor’s ratings agency, warning that leaving the EU would lead to Britain’s credit ratings being downgraded, which would raise government borrowing costs.
Women must shout to be heard in the boardroom
Women who hope to break the glass ceiling must speak up if they want to reach senior boardroom positions, research suggests. Talented female professionals are being drowned out in “antiquated and testosterone-fuelled” workplaces where loud bullish men attract more attention and are given more credit, according to the findings.
Online: Ken Martindale, businessman – obituary
Doyen of the British motor trade whose Manchester-based car dealership spread countrywide
PM to set out EU demands within days
David Cameron is set to out in writing his proposed package of changes to the EU within days after announcing that the pace of negotiations would intensify over the next month.