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What the Papers SayBack

The Financial Times

BoE on alert over Greek threat to nation’s stability

Greek flag

Authorities vow to take ‘any actions required’ to keep financial systems safe

The deepening Greek crisis has scuppered plans by the Bank of England to give a stable outlook to the UK’s financial prospects, with UK authorities pledging to take “any actions required” to keep the financial system safe.

Signs emerge of industry regaining its spark

Optimism is building as more companies invest in better machines and technology

‘Growth funk’ shares blame for fall in PMI

UK manufacturing was stagnant in June, with export orders falling because of subdued demand from Europe.

The monthly survey of purchasing managers fell to its lowest level for two years— to 51.4 from 51.9 in May, but remained above the 50 mark that separates contraction from expansion.

Companies and Markets

Blow to Toyota’s diversity drive after drug-arrest female executive resigns

Toyota Motor’s push for greater diversity suffered a setback yesterday when the Japanese carmaker announced the resignation of its first senior western female executive after she was arrested in Japan two weeks ago.

Julie Hamp, chief communications officer, was detained by police on June 18 on suspicion of illegally importing a prescription drug from the US. She remains in police custody.

Technician killed by robot at Volkswagen plant

A technician was killed by a robot at a Volkswagen plant near Kassel in Germany yesterday

The 21 year-old external contractor was working with a colleague to install the robot when he was struck in the chest by it and pressed against a metal plate. He later died of his injuries.

US shale curbed by Riyadh, says Shell chief

Van Beurden declares Saudis sent ‘powerful’ price message and insists his Anglo-Dutch group is striking fair BG deal

Saudi Arabia’s move to abandon its role as the balancing force in world oil markets has put the brakes on America’s energy boom, with Riyadh successfully pressuring US shale producers, according to the head of Royal Dutch Shell.

Scottish drink-driving laws knock Greene King

Greene King blamed a crackdown on drink-driving in Scotland, a disappointing World Cup and consumer spending on cars and home improvements for a slowdown in growth

The Times

Drop the dress code and let staff wear vests and shorts, says TUC

Wearing one is more Rab C. Nesbitt than Ralph Lauren, but Britain’s leading union group has called on managers to allow employees to work in vests because of the hot weather.

Business

Speedy Hire loses second chief in quick succession

Speedy Hire has parted company with its second chief executive in 18 months after a disastrous shake-up of the business sent profits plunging. The profit warning from the tool rental group sent its shares crashing 30 per cent just days after an alert of weak trading at rival HSS sent its stock plunging 26 per cent.

Business rates on rise

The Treasury took £22.9 billion in business rates in the past financial year, figures from the Office for National Statistics showed. The British Chambers of Commerce said the 1.3 per cent rise on the previous year was a “reminder” that a government review of the rate must deliver “fundamental reforms” to a system that was a “hidden burden on business”. The government has promised changes but said they must not cut the taxman’s haul from business rates.

The Daily Telegraph

Business

Jaguar contracts abroad as UK production hits capacity

Jaguar Land Rover has been forced to sign up an Austrian contractor to build vehicles as its own UK plants run close to full capacity.

One degree drop ‘can wipe billions off the retail sector’

The unpredictable British weather can have a devastating impact on retail sales a comprehensive review by weather experts has claimed

Posted by Lois Hardy on 02/07/2015