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Volkswagen has offered those US customers caught up in the diesel emissions cheating scandal $1,000 in gift cards and vouchers. The car manufacturer is offering the money as a gesture of goodwill to 482,000 US owners of the faulty cars.
It is also offering free roadside assistance to those who have owned their cars for three years. Volkswagen said its Audi luxury brand would launch a similar program on Friday.
David Cameron has said he is “deadly serious” about securing EU reforms and said that if his renegotiations failed “we will have to ask ourselves – ‘is this organisation for us?'”. The prime minister told the CBI conference the issue was not whether the UK could survive outside the EU but whether it would be more successful.
He added that “the status quo isn’t good enough for Britain”. The PM is to set out his reform proposals in detail today.
The Financial Times
George Osborne’s plan to increase the minimum wage risks undermining the UK government’s success in pushing down unemployment, the Organisation for Economic Co-operation and Development has warned.
The Paris-based club of mostly rich nations lifted its growth forecasts for the British economy slightly in its twice-yearly “Economic Outlook”, but cautioned that the chancellor’s minimum wage policy could hurt competitiveness and cause job losses.
Britain’s retailers experienced a drop in sales last month, according to industry figures that suggest shoppers are putting off spending in anticipation of the discounts on Black Friday at the end of November.
The British Retail Consortium also said that with Halloween falling on a Saturday this year fewer people went shopping on that key day for the sector. Retail sales in October were down 0.2% on a like-for-like basis compared with the same month last year, according to the BRC’s monthly retail sales monitor. The drop marked a change in fortunes after a sharp 2.6% rise in annual sales in September – although those figures were distorted by the timing of the end of summer bank holiday.