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London taxis to drive greener future
The London Taxi Company has set out its vision of future technology, exports to cities across the world and dedicated taxi apps.
‘Dysfunctional’ regulator failed in its duty, say MPs
The Financial Conduct Authority is a “dysfunctional” institution with failings serious enough to require special measures, MPs will say today. In an 83-page report on a botched press briefing by the FCA that caused shares in the leading insurers to plummet last year, the Treasury select committee said the regulator should launch an independent review of its effectiveness, and after the election, MPs should complete a detailed enquiry of FCA governance and culture.
Companies & Markets
PetroChina seeks asset swaps
China’s biggest oil major by market value is “actively engaged” in talks to swap North American assets with international rivals in an effort to staunch losses on high-cost deposits after a collapse in crude prices.
Shell and Taqa to cut North Sea jobs as price fall starts to bite
Royal Dutch Shell and Abu Dhabi’s Taqa plan to cut hundreds of jobs in the North Sea, despite tax cuts in last week’s Budget aimed at prolonging the life of region after a collapse in oil prices.
Cameron appeals for time to finish job
David Cameron admitted he couldn’t live on a zero hours contract while Ed Miliband refused to set a limit of immigration as the two prime ministerial candidates faced their first television inquisition of the campaign.
Motorways get smart
A third of the motorway network will lose its hard shoulders at peak times as part of an £11 billion plan to cut congestion with “smart roads”. The hard shoulders will become fourth lanes to keep traffic flowing.
Shoppers are cashing in on lower prices, allaying concerns that customers would hold off on purchases amid the prospect of deflation. Retail sales volumes rose 0.7 per cent in February, compared with the previous month, according to figure from the Office for National Statistics.
Used cars find new owner for £1.2bn
Europe’s biggest used-car dealer has become a quoted company after a reverse takeover worth £1.2biliion by a vehicle set up by a former chairwoman of Stobart Group. BCA Group, which only five months ago pulled a flotation after investors baulked at the valuation, has been sold by Clayton, Dubilier & Rice, the US private equity firm, to Haversham Holdings, led by Avril Palmer-Baunack and itself quoted on AIM in November.
Greenhouse gas emissions down
Britain’s greenhouse gas emissions fell by 8.4% last year, as household energy consumption slumped, the use of coal for electricity generation fell, and policies on climate change took effect.
Cameron declared winner of first contest
Ed Miliband struggled under a barrage of questions about his strength of character as a snap poll declared David Cameron the winner of the first televised election contest last night.
Battle between Saudi Arabia and Iran for Yemen raises oil price anxiety
The long-simmering struggle between Saudi Arabia and Iran for Mid-East supremacy has escalated to a dangerous new level as the two sides fight for control of Yemen, reminding markets that the epicentre of global oil supply remains a powder keg.
How driverless cars could steer us to a richer future
Driverless cars will accelerate the renaissance Britain’s automotive industry is currently enjoying, creating hundreds of thousands of new jobs, adding tens of billions to the economy and saving thousands of lives, a new report claims.