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What the Papers SayBack

The Financial Times

Jobless benefits claims at 35-year low as fears rise over cuts for working families

work

Britain’s culture of welfare reliance has been transformed, with the proportion claiming out-of-work benefits now its lowest for 35 years, according to an analysis of official figures

 

Chancellor brings forward £3bn in cuts

Osborne tries to spread savings after OECD warns him against stifling growth

George Osborne has announced new government cuts of £3bn- topped up by £1.5bn of asset sales including the Royal Mail- amid claims the Conservatives risked misleading voters on the size of the cuts to come.

 

Companies and Markets

‘US shale is here to stay’, warns Conoco

Chief tells Opec that lower crude prices will not stop unconventional oil and gas

Energy groups attack Europe fracking laws

Statoil and ExxonMobil call for fresh examination of divisive drilling process

The Times

Business

Oil dips as Opec cools on output cut

Oil prices were sent lower yesterday as it appeared likely that Opec would not bow to pressure from some of its members to cut production

The Daily Telegraph

Business

Families to feel benefit as wages outstrip low inflation

Families will finally feel the benefits of Britain’s recovery this year through stronger pay growth, even as the recovery slows, according to the British Chambers of Commerce.

 

New car sales rise for 39th month in a row

Car sales have continued to rise with the number of new registrations increasing for the 39th month in a row to almost 200,000, figures show.

The Society of Motor Manufacturers and Traders (SMMT) also reported “remarkable” growth in demand for plug-in vehicles amid a huge increase in sales of low emission cars.

 

Johnson Matthey boosted by curbs on car emissions

Tougher European rules on car emissions have helped Johnson Matthey enjoy a surge in profits.

The chemicals company, which is the world’s biggest maker of autocatalysts, posted a 22pc jump in full-year pre-tax profits £495.8m, on revenues that dipped to £10.1bn from £11.2bn in 2014.

 

 

The Independent

Shine stays on new car market

New car registrations rose for the 39th month in a row in May, climbing by 2.4 per cent year-on-year to 198,706 vehicles.

The Society of Motor Manufacturers and Traders said sales since January had been boosted by a four-fold rise in purchases of ultra-low emission vehicles.

 

Bank of England holds rates at record low

The Bank of England kept interest rates at a record low of 0.5 per cent as it waited to see how quickly the economy recovers from a surprisingly sharp slowdown earlier this year.

 

The Guardian

Ex-Shell chairman backs fossil fuel divestment

The former chairman of Shell has said that investors moving their money out of fossil fuel companies is a rational response to the industry’s “distressing” lack of progress on climate change.

Posted by Lois Hardy on 05/06/2015