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What the Papers SayBack

The Financial Times

Osborne says productivity boost is a priority

osborne2

Chancellor tells CBI that debt and regional growth are also focus of concern

George Osborne has announced plans to improve Britain’s poor productivity saying the country has to deal with chronic problems in areas ranging from transport to childcare.

Cameron starts push for reform with EU Leaders

David Cameron will fly to Riga today for the start of a push to secure a British reform agenda in the EU as senior Tories urge him to give cabinet colleagues a free rein in a referendum campaign.

Unpaid student loans threaten policy pledges

Science, research and apprenticeships will pick up bill from defaults, warns think-tank

Spending on apprenticeships, science and research will face significant cuts unless ministers find new ways of recouping unpaid student loans from graduates, a think-tank has warned.

Uber takes on Johnson over plans to cap minicabs in London

Uber, the cab-hailing app group, will challenge plans by Boris Johnson to cap the number of minicabs operating across London, arguing that the move would mean “higher prices” for millions of travellers in the capital.

Companies and Markets

Renault’s new Kwid on the block

Renault hopes to grab 5 per cent of India’s potentially vast car market over the next three years after becoming the first European automaker to launch a global model there, challenging local rivals Maruti Suzuki and Hyundai.

Grupo Alfa closes in on Pacific Rubiales deal

Pacific Rubiales, the largest independent oil producer in Latin America, is set to be acquired by Grupo Alfa and Harbour Energy in what would be the region’s biggest-ever private equity deal.

Oil product demand fends off storage woes

The oil market is not bumping up against storage capacity limits because demand for products such as gasoline has been unexpectedly strong, a senior executive at the world’s biggest independent oil trader has said.

Chris Bake, executive director at Vitol, said demand growth was “back up to 1.4-1.5m barrels a day” because of the “strong pockets” in Europe, the US, the Gulf region and Asia.

The Times

Drop the term ‘single currency’ or we’re out, Cameron tells EU

David Cameron is demanding that a special status for the United Kingdom be enshrined in the European Union as a way of keeping Britain in the Brussels club.

The prime minister wants to force the EU to acknowledge that the euro is not Europe’s “single currency”- and to write the change into the bloc’s treaties.

In the fast lane to car connectivity

A law requiring all new cars to have built-in emergency call equipment by 2018 was approved by the European parliament last month. It means any collision in which airbags are deployed will automatically trigger a call to the 112 emergency number, signalling the vehicle’s location. Cars will also have a manual “ecall” button.

This legislation, which supporters say will save lives by getting help to crash scenes more quickly, is one example of the technological demands that have made the “connected car” a focus for manufacturers worldwide.

Supply supremos drive into China

When Jaguar Land Rover (JLR) set up a joint venture to make the Range Rover Evoque in China, it was taking its most important step yet into the expanding global market for luxury vehicles.

Bosses come out fighting on European referendum

The gloves came off yesterday in the battle to be the voice of British business in the European referendum, with the main Eurosceptic lobby accusing the CBI of misrepresenting industry people and of being funded by Brussels.

Oil workers to vote on strike action

North Sea oil workers are to vote on strike action over changes to shift patterns, after talks in Aberdeen with their employers ended in failure.

The Independent

Pro-Europe groups unite to fight ‘No’ camp

Merger of three leading organisations gives ‘Yes’ side early advantage

The Guardian

Osborne: let the cuts begin

Axe to fall on Home Office, Justice and Transport in effort to find £13bn of savings

The Daily Telegraph

No fast cars as savers stay in the slow lane

Savers have not squandered their pension pot on Lamborghinis since new freedoms were introduced last month, the boss of one of the UK’s biggest pension firms said yesterday.

Business

Bank to hold interest rates, but rise may be on horizon

Bank of England policymakers have voted unanimously to keep interest rates on hold, but a “notable” pick up inflation at the end of this year is likely to put rate rises back on the agenda.

Posted by Lois Hardy on 21/05/2015