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Companies and Markets
VW chairman looks isolated after intervention
There was only one question on everyone’s lips in corporate Germany yesterday: just what is Volkswagen chairman Ferdinand Piech up to? By saying publicly on Friday that he was “at a distance” from his long serving chief executive and loyal acolyte Martin Winterkorn, Mr Piech destabilised VW and triggered an undignified power struggle.
Gazprom chief warns of highest price for all after Brussels parity challenge
Gazprom, Russia’s state-controlled gas exporter, has said attempts by Brussels to crack down on its pricing model will backfire and trigger higher average energy costs across Europe.
GM claims to have resolved electric vehicle challenges
General Motors has “pretty much resolved” the technical challenges of its groundbreaking Bolt electric car, the company’s head of product development has said, which could transform the niche technology’s prospects.
Baby Jag takes on big boys
The vague promise of bigger things to come was not enough yesterday for executives at Jaguar Land Rover as the carmaker cut the tape on a new Jaguar factory-within-a-factory at the giant Land Rover plant in Solihull.
Cameron banks on Thather’s legacy
David Cameron will try today to extend the Conservative’s’ appeal and transform their image as the “party of the rich” by promising to allow 1.3 million families in social housing to buy their homes. Launching the Tories’ election manifesto, the Prime Minister will claim that they are “the party of working people” as he pledges to extend to housing association tenants Margaret Thather’s landmark policy to allow council tenants to buy their homes at huge discounts.
Tensions ease as oil explorer shelves Falklands drilling plans
Falkland Oil and Gas (FOGL) took the sting out of political tensions between London and Buenos Aires yesterday as it shelved plans to expand activities in the region. The Aim-listed company said it was ditching its proposed second well in the South Falkland basin, following the steep drop in prices since the summer.
City & Finance
Labour U-turn on takeovers
Ed Miliband has promised more protection for British companies from foreign predators – reversing changes made by his mentor and former prime minister Gordon Brown.
Shell sells quarter of its petrol stations as switches strategy
Royal Dutch Shell is selling around a quarter of its UK petrol stations as part of a strategy to grow its fuel dealer network instead of owning retail outlets directly. The UK’s largest oil and gas company said it has agreed deals to sell 185 service stations, reducing the number held under full ownership to 550.
Clarkson in fresh controversy – but this one is fictitious
It has become known as the programme in which life imitates art, and the second series of the BBC mockumentary W1A shows it has not lost its touch, with an opening episode that features Jeremy Clarkson and the word “tosser”.