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The Financial Times
David Cameron has set out plans to “significantly reduce” the number of skilled workers coming to Britain from outside Europe, after data showed net migration levels approaching an all-time high. Businesses groups expressed concern at the clampdown after the prime minister said he would look for ways of cutting economic migration.
The unexpected Conservative win at the general election has left pro- and anti-Europe campaign groups scrambling to come up with a coherent strategy as a referendum on UK membership looms. “We’re going to have to be proactive about the positive reasons for being in the EU,” said Roland Rudd, founder of the pro-EU Business for New Europe.
Companies and Markets
The controlling shareholder at Dragon Oil yesterday unveiled an informal offer to buy out the crude producer’s minority investors, in a deal that would value the company’s equity at £3.6bn. The bid by Emirates National Oil Company is pitched at 735p a share, which represents a 44 per cent premium to Dragon’s closing stock price of 509.5p on March 13 – the last trading day before Enoc approached the producer about its intention to make an offer.
David Cameron will embark on a whirlwind tour of Europe to lay out Britain’s terms for staying in the EU and seek backing from leaders for his reforms. The prime minister, under renewed pressure yesterday over immigration after numbers soared to a near-record high, will press home the “absolute requirement” of curbing benefits for EU migrants during the tour next week.
Motorists are leaving their cars at home after the cost of filling a family car rose by £5.50 in less than four months. According to a study by the AA, the cost of petrol increased by 3p in the past month and by 10p since the start of February – from 106.3p a litre to 116.42p – after a surge in oil prices.
A 180-year-old law to prevent horses, donkeys, pigs and cattle being driven on payments could delay new trials of driverless cars. Government lawyers are seeking to redraft the Highway Act 1835 to allow revolutionary “pods” to be tested on pavements in southeast England.
Holidaymakers and commuters breathed sighs of relief as the threat of the first national rail strike in a generation was lifted. Network Rail staff belonging to the RMT and TSSA unions had planned to strike on bank holiday Monday and Tuesday.
The Daily Telegraph
Jeremy Clarkson has hinted that he may return to the BBC, while admitting the incident that led to his sacking was his “own silly fault”. The former Top Gear presenter spoke out in his first interview since leaving the BBC following his fracas with a producer.
Germany has opened the door to a grand bargain and possible treaty changes to prevent Britain pulling out of the European Union, a risk deemed calamitous for German interests and for the long-term stability of the EU.