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What the Papers SayBack

The Financial Times

PM eyes vote with postdated treaty change

EU

Low-key talks begin at summit dominated by Greece debt crisis

Downing Street has confirmed that David Cameron may go to the country in his EU referendum before any treaty change is in force, as he launched his renegotiation with a low-key presentation at an EU summit dinner in Brussels.

Poorer households see sharpest rise in income, suggest data

A broad measure of Britain’s income inequality has fallen to the lowest level for almost a generation, official figures showed yesterday, confounding the popular belief that the gap between rich and poor has been rising

Taxi drivers’ anti-Uber clashes halt Paris traffic

Hundreds of French taxi drivers burnt tyres and clashed with police yesterday, declaring an indefinite strike to protest against competition from Uber, the US start-up transport service.

Companies and Markets

Takata chief offers his first apology for airbag safety crisis but vows to stay on

The reclusive chief executive of Takata issued his first personal apology for the faulty airbags that have led to one of the worst recall crises in car history, vowing to stay on until the Japanese manufacturer can rebuild the safety of its products.

Top Gear: McLaren’s profits shift into overdrive

McLaren automotive has reported a threefold rise in income thanks to bumper sales of the P1, a “hypercar” that offers drivers a top speed of 217mph if they are prepared to pay the £866,000 starting price.

Car loan bonds on track for Europe record

Securitisation backed by car loans is projected to hit a record level of issuance in Europe this year

While the broader market for asset-backed securities has struggled, car ABS issuance is 7.5bn euro so far this year, up on 5.4bn euro in the equivalent period last year, according to data from Morgan Stanley.

The Times

Road casualties rise

The number of road casualties increased last year for the first time since 1997, government figures revealed.

Business

Retailers look on sunny side despite sales dip

Shoppers turned a little more frugal this month as they cut back on groceries after a bumper May, according to an industry survey.

End of era as tyre maker quits UK

At least 330 jobs in the Midlands will be lost after Goodyear Tyre & Rubber Co announced plans to close its manufacturing plant in Wolverhampton after 88 years.

The Independent

‘No chance’ of EU change before in/out referendum

David Cameron has admitted that the referendum on whether Britain should stay in the European Union is likely to take place before any new terms on the UK’s membership will have been implemented in a new EU treaty.

The Guardian

Osborne pessimism is hitting consumer confidence hard, says Debenhams chief

People see cuts as message of further tough times

Latest figures show sales at stores were unchanged

SNP admits oil revenues will fall well below its forecasts

The Scottish government has admitted that North Sea oil revenues are set to tumble well below its forecasts, with total income falling as low as £2.4bn over the next four years

Posted by Lois Hardy on 26/06/2015