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The Financial Times
$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.
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.
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
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.
Car-hailing app launches in three cities despite government prohibition
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.
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 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 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 froze in May as the cool start to the British summer led to disappointing fashion sales.