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Business unhappy with Miliband’s minimum wage pledge – Business chiefs have given a hostile reception to Labour’s promise to raise the national minimum wage significantly if the opposition party won the next election.
GM recalls another 2.4m cars – General Motors’ total global recalls this year rose past 15m vehicles as the car-maker called back a further 2.4 potentially unsafe cars in the latest attempt to address its tarnished safety reputation. The further series of recalls comes five days after GM ordered back 2.7m other cars for faults, as part of an effort by new chief executive Mary Barra to reform quality processes as she tackles the fallout from the company’s failure to recall millions of cars it knew were dangerous.
Reed nears ‘black box’ for cars deal – Reed Elsevier is closing in on the acquisition of a “black box” technology company that will allow the FTSE 100 media group to monitor UK drivers’ behaviour. While financially small in the context of Reed – people familiar with the matter said it was preparing to pay about £25m for privately owned Wunelli – the deal underscores growing interest in telematics technology from companies in a diverse range of sectors.
BoE edges closer to early rate increase – The Bank of England is moving closer to a rate rise after some members of the interest-rate setting Monetary Policy Committee indicated that they stand ready to vote for an earlier than expected increase. The bank, which has kept interest rates at the historically low rate of 0.5 per cent since 2009, would be the first major central bank to increase rates since the European Central Bank tightened its monetary policy in the summer of 2011.
The Daily Telegraph
Bentley in hiring spree as work on first SUV looms – Bentley Motors is creating 141 new jobs at its Crewe factory ahead of the launch of the company’s first ever sport utility vehicle, which has been promised for 2016. An £800m investment over three years will be used to hire 90 skilled engineers, with 51 apprenticeships also created, the company’s largest intake for 10 years.
The Daily Mail
End of the road for saloon cars – Drivers are giving up family saloon cars, as they are turning to sport utility vehicles and multi-purpose vehicles and compact, fuel-efficient city cars, such as the VW Up!. Sales of traditional four-door family cars fell by 55 per cent between 2004 and 2013, from 459,015 to 208,462.
Vive the Viva! 50 years on a UK classic is back – Half a century after the launch of the original, the much-loved Vauxhall Viva is making a comeback. The new model will cost under £7,000 and manage up to 70 miles a gallon.