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What the papers sayBack

The Financial Times

G7 in historic accord to phase out fossil fuel emissions this century

fossil fuels

$100bn pledge to poor countries reaffirmed

Huge challenge for energy companies

The Group of Seven industrial powers has agreed that the world should phase out fossil fuel emissions this century, in a move hailed as a historic decision in the fight against climate change.

Pledge on paid-leave volunteering shelved

Business chiefs divided as pre-election proposal falls down political agenda

David Cameron’s bid to revise the Big Society is subsiding again as plans to give workers time off to do voluntary work are being quietly shelved, to the relief of some business leaders.

The policy would give 15m people- everyone in the public sector plus all those in private companies with more than 250 staff- the chance to take three days’ paid leave every year for volunteering.

Welsh Labour softens stance against tax devolution plans

The Labour government in Wales has softened its opposition to Conservative proposals for tax devolution, even while attacking further budget cuts by George Osborne, the chancellor.

Companies and Markets

Ex-Centrica chief Laidlaw to lead $5bn private equity-backed oil and gas push

Sam Laidlaw, former chief executive of Centrica, is to lead a push by private equity into oil and gas, taking charge of a venture that will spend up to $5bn on fields in the North Sea, Africa and Southeast Asia.

Uber defies law with French expansion

Car-hailing app launches in three cities despite government prohibition

Oil slide bolsters Trafigura’s profit and margins

Global network put to use to snap up cheap oil and seize advantage amid dislocations

Trafigura has posted record half-year profits and a doubling of trading margins, illustrating how one of the largest commodity trading houses has been a big beneficiary of oil’s collapse.

The Times


Skills shortage poses threat to Osborne’s northern powerhouse

Britain is running out of skilled workers so quickly that company that the country’s growth prospects are under threat, a leading recruitment company has warned.

George Osborne’s vision of a northern powerhouse will be more like a “northern power cut if we don’t see more talent coming into the market”, Manpower Group said.

The Daily Telegraph

Thousands face car hire delay as DVLA site crashes

Thousands of drivers faced delays as they attempted to hire cars in Britain and overseas yesterday after a new Government website crashed.

The Driver Vehicle and Licensing Agency (DVLA) site collapsed just hours after the paper “counterpart” driving licences was scrapped on Sunday.


Tomatoes get a lift from Rolls-Royce

Tomatoes on the Isle of Wight are to get the Rolls-Royce treatment- with engines made by the company helping the red fruits grow faster

The company is supplying engines whose by-product will warm greenhouses on the island. Exhaust fumes from the 12-cylinder engines will also be used to help the tomatoes grow.

Retail sales stall as cool summer hits fashion

Retail sales froze in May as the cool start to the British summer led to disappointing fashion sales.

Posted by Lois Hardy on 09/06/2015