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Hammond says Tories will not insist on EU treaty change
The Eurosceptic foreign secretary has given his most enthusiastic backing for the UK’s place in a reformed EU saying the continent’s major powers favour a “fast” settlement of the British question. Amid warnings from Bank of England governor Mark Carney that a planned referendum on EU membership is causing business uncertainty, Philip Hammond said he wanted a deal as fast as possible, raising expectations of a possible vote in 2016.
Companies and Markets
US oil veteran rejects Saudi shale claims
One of the leading figures in the US oil industry has insisted the slowdown in US shale is a temporary phenomenon, as he rejected claims by Saudi Arabia that it was succeeding in squeezing American shale producers. Harold Hamm, chief executive of Continental Resources, said he disagreed with claims by a Saudi official, reported in the Financial Times yesterday, that the lower oil price had deterred investment in higher-cost sources of oil such as shale.
Former M16 head Sawers takes board role at BP
Sir John Sawers, the former head of Britain’s secret intelligence service, has joined BP as a non-executive director, making his first high-profile move into the private sector since leaving M16.
Top donor tells Farage to quit as aides resign
One of Ukip’s biggest donors called on Nigel Farage to quit yesterday as a growing row forced out two of his closes aides. The Ukip leader admitted last night that he had lost the confidence of his party.
Women really are better drivers than men (they just don’t know it)
It is one of the mopst enduring myths of our time, seemingly used to justify foul-mouthed rants across car dashboards up and down the country. Now a study has nailed the lie about the gender divide – by finding that women are better drivers than men.
10,000 more over-70s hit the road every month
The number of older drivers on British roads is increasing at a rate of more than 10,000 a month, prompting that cars should be adapted to meet the needs of pensioners. A study by the Institute of Advanced Motorists found that more than 4.3million people over 70 now hold a driving licence and that the oldest driver on the road is 107 years old.
Car dealer blames failures on Lloyds in public protest
Lloyds Banking Group’s annual meeting was disrupted by an entrepreneur who accused the lender of profiting from the administrations of small and medium-sized companies. Keith Elliott, a Lloyds shareholder and former owner of Premier Motor Auctions, a Leeds-based car business, made a nine minute protest in which he warned that the bank must address “another scandal about to surface”.
Holyrood awakening: Scottish lion roars at PM
David Cameron and Nicola Sturgeon will clash today over how much extra power should be developed to Scotland following the SNP’s stunning success in the election. When they hold talks in Edinburgh, both leaders will claim a mandate from voters for their approach, but the gulf between them will be laid bare.
BP hires former M16 boss to help global expansion
BP has appointed Sir John Sawers, the former M16 chief and UN ambassador, to its board as a non-executive director to help its global expansion. Sir John, who has 36 years’ experience working abroad for the Government, will assist the oil giant in challenging emerging markets such as Iraq and Russia.
Farage clings to Ukip leadership
Nigel Farage was clinging to his position as Ukip leader last night and insisting that he was not facing a “coup” as a civil war erupted within the party. Several of Farage’s former allies publicly questioned his leadership, with eight calling for his resignation.
O’Neill to spearhead ‘Northern powerhouse’
The chancellor has laid out plans to rebalance the economy away from London, as it was announced that Goldman Sach’s former chief economist Jim O’Neill will help lead government efforts to develop powers.
SNP plot unofficial second referendum
The SNP is prepared to push ahead with an unofficial second independence referendum if David Cameron refuses to grant one. A senior party source in Westminster said Scots, who rejected independence last September, would choose to leave the UK if a vote was held tomorrow, adding: ‘You only have to win once’.