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What the Papers SayBack

The Financial Times

Cameron sets out ‘blue collar’ agenda

David Cameron

Thatcherite programme aimed at working class voters but PM faces fallout from £12bn welfare cuts

David Cameron vowed yesterday to reset Britain’s relations with Europe, recast the United Kingdom and invigorate the economy, as he promised not to waste “a single moment” of his second term as prime minister.

Triple Tax lock puts other revenue sources in spotlight

Osborne likely to look at limiting reliefs and delaying threshold rises

Chancellor Osborne may restrict some tax reliefs, delay the uprating of tax thresholds and look afresh at smaller taxes to raise revenues, following the government’s plans for a five-year ban on increases in the three main taxes.

Mixed reaction greets Tory pledges to help businesses

Plans to help employers by cutting regulation, creating more apprenticeships and offering more free childcare lay at the centre of the first solely Conservative Queen’s Speech for almost 20 years.

There will be an Enterprise Bill to cut red tape and to create “a small business conciliation service” to address late payments to suppliers. A “full employment and welfare benefits bill” will pledge 3m new apprenticeships while simultaneously curtailing benefits for under-21s.

Manchester pioneers mayoral role

New post will control health and care, police, skills, housing and transport spending.

Brussels revives tax avoidance crackdown

Pan-European scheme would need agreement of all 28 member states

The EU has relaunched a plan to introduce a pan-Europen corporate tax base, a measure to combat tax avoidance by multinationals that is liable to trigger concern in countries such as the UK and Ireland.

Companies and Markets

Trafigura becomes major exporter of Russian oil as sanctions squeeze credit

Swiss commodity trader Trafigura has become a major exporter of Russian oil as sanctions have squeezed Kremlin-backed companies’ access to credit and led to a shake-up of how Moscow sells its crude.

Investors urged to act as infrastructure creaks

With the public purse heavily strained, business leaders are calling on funds to shoulder more of the cost of upgrading

Gap between crude oil benchmarks narrows

Brent crude has fallen to the lowest in a month, hit by continued dollar strength and excess supplies from Nigeria, while its premium to the US benchmark hit its narrowest for five weeks on expectations of tightening North American supplies.

The Times

Lorries fail to fit life-saving cycle cameras

Cyclist are still being put at risk because HGV operators are shunning potentially life-saving technology, according to researchers.

Self-parking car runs down two pedestrians

(A video taken in the Dominican Republic seems to show a self-parking car “ploughing” into two pedestrians, however driver error was to blame)

Business

UK car production

The collapse in sales to China and Russia and a moribund European export outlook led to a near-4 per cent year-on-year fall in UK car manufacturing last month, throwing into doubt claims that 1972, the heyday of the Ford Cortina and the Vauxhall Viva, is about to be overtaken, with annual production records being broken in 2017.

In the first four months of this year, 530,505 vehicles rolled out of British car factories, compared with 538,240 in the same period a year ago.

President’s last word leaves ports in a storm

Some of the world’s largest oil companies could face increased operating costs in Nigeria if an eleventh hour ruling by its ousted president comes into force.

 

The Daily Telegraph

Car that can tell if driver dozes off

Drivers who doze at the wheel may be spared disaster in future thanks to vibrating steering wheels and alarms

ARM, the British microchip pioneer whose processors power most mobile phones, has claimed that the innovation could eradicate concentration lapses, which are responsible for more crashes on British roads than any other factor.

Business

SMEs refusing to borrow from banks

Almost half of small and medium-sized British companies are refusing to borrow money, preferring to focus on paying down debts, it has emerged- but those who invest in growth are finding it easier to secure bank loans and other external finance.

Glimmer of hope in the North Sea as operating costs are forecast to tumble

After months bad news, oil companies in the North Sea can see a glimmer of hope after leading energy consultant forecast operating costs would plummet over the next two years.

Rolls secures £57m Army engines deal

Rolls-Royce has signed an 80m Euro (£57m) deal to provide engines for the British Army.

 

The Daily Mail

UK grows faster than Germany

Britain’s economy has been growing faster than Germany’s at the start of this year, official data is expected to show today.

 

The Sun

Ford hit by a loss of power

Nearly 423,000 vehicles are being recalled in the US by Ford after reports of power steering failures.

Posted by Lois Hardy on 28/05/2015