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News DigestBack

FT

The Times – Drivers pull in for a pint at first motorway pub – The pub is open 4am to 1am, seven days a week, and road-safety professionals claim that it risks undermining the fight against drink-driving. JD Wetherspoon, the owner and some of its first customers thought that selling alcohol in a service area was a natural step in a country trying to cast off its binge-drinking culture to embrace European norms.

The Times – Sunderland celebrates as Nissan unveils new Qashqai and expands its workforce – Production of a new generation of Britain’s best-selling domestic built car, the Nissan Qashqai, will begin in Sunderland today as Nissan expands its workforce there to more than 7,000.

The Guardian – Carmakers help fuel economy as UK growth forecast is upgraded – Britain’s car industry has been another bright spot for the economy, with new car sales up 10.8% in 2013 and figures published tomorrow expected to show an increase in UK manufacturing last year. The industry has been hailed by the government as a success story for British manufacturing, as companies including Jaguar Land Rover and Nissan continue to invest in the UK.

The Guardian – Brake on funds still squeezing small firms – Business lending fell towards the end of last year as banks continued to squeeze funding to small and medium sized businesses despite attempts by the bank of England to boost finance to this sector.

The Daily Telegraph – Fiat completes buy-out of US rival Chrysler – Fiat has completed its buy-out of Chrysler, making the US business a wholly-owned subsidiary of the Italian carmaker.

The Metro – Brits aim for Ferrari roles – Luxury car-marker Ferrari has chosen 18 graduates from British universities to compete for a prized six-month internship and work contracts at its headquarters in Italy.

The Financial Times – Car production picks up speed to hit six-year high – Britain built more than 1.5m cars last year for the first time since 2007, as the resurgent industry tapped strong domestic demand to increase output, investment and employment.

The Times – Car insurance to start rising again, says AA – The price of car insurance is poised to rise again in defiance of a huge government campaign to cut costs for motorists, the AA has warned. Despite a sharp drop in the cost of cover during the final three months of last year, the AA said that it expected price falls to tail off soon.

The Times – Electric cars put brakes on hopes for a record year – The electric market-leading Nissan Leaf, the battery-driven vehicle being built in Sunderland, was supposed to have been produced at a rate of 50,000 a year from its introduction in 2012, however, in its first year Sunderland produced only 7,000 rising to 14,000 in 2013.

The Financial Times – Toyota beats GM and VW to remain top carmaker – Toyota remains the world’s top carmaker after pipping rivals General Motors and Volkswagen in 2013 for the second year in a row.

The Financial Times – Strong won pushes Hyundai to first quarterly revenue fall in four years – Hyundai Motor reported its first quarterly revenue decline for more than four years yesterday, as the South Korean carmaker grappled with a strengthening currency and weak domestic demand.

The Times – Retailers have sinking feeling that sales boom was just for Christmas – CBI found that retail sales grew at a slower pace than expected this month. While consumers have fuelled Britain’s economic recovery, some economists are worried about the sustainability of the rebound as wage growth has failed to keep up pace with inflation.

The Guardian – No early interest rate rise – An early increase in borrowing costs was ruled out by the governor of the Bank of England last night as he insisted that this week’s faster than expected fall in unemployment will not lead to an automatic interest rate rise that might choke off the recovery.

 

 

Posted by Leana Kell on 26/01/2014