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Newspaper round-upBack

FTThe Financial Times

EU regulations drive truckers off the road – Industry groups have claimed that 20,000 lorry drivers have quit since September alone, when the Driver Certificate of Professional Competence was introduced to standardise safety training procedures across the EU. Deriver vacancies are estimated at 60,000 as many in the industry have chosen to retire rather than do the extra 35 hours training, costing £500.

Brighter outlook as wage increases beat inflation – Wage growth, the long missing ingredient in the economic recovery, finally appears to be emerging. For the first time since 2009, average earnings growth has outstripped inflation, raising hopes that the extended squeeze on living standards could be drawing to a close.

The Times

Six months of internships costs graduates £5,000 – An unpaid six-months internship leaves graduates at least £5,556 out of pocket according to a study that analysed their typical bills for rent, transport and food while they work for nothing. It found that a third of all internships were unpaid despite a groundswell of opinion that being asked to work, without pay, is a block on social mobility.

Cameron vows huge expansion of road-building – The Conservatives have promised the biggest road-building programme since the 1970s if they are returned to power after the general elections. In wooing votes in marginal constituencies beset with problems of traffic congestion, David Cameron said that a Tory government would plan to spend £15billion on the roads over the five years of the next parliament.

UK wage growth – By the end of next year, wages will be rising significantly faster than inflation, Mark Carney, the governor of the Bank of England said, marking the end of the longest squeeze on living standards in memory.

The Guardian

Online sales grown despite high street’s flat October – UK retail sales were flat in October according to the largest BRC-KPMG Retail Sales Monitor but online sales, excluding food, jumped 15.4 per cent – the highest online growth since Christmas.

Bank of England signals 12-month interest rate freeze – The Bank of England signalled yesterday that interest rates could remain on hold until next autumn as inflation is likely to fall to its lowest level in more than a decade.

The Daily Telegraph

Rate rise next year won’t hurt, say SME’s – Most small and medium sized businesses in the UK are not worried about higher interest rates, research shows. Ahead of the Bank of England’s inflation report today, where policymakers will unveil their latest projections for growth, unemployment and inflation, a survey by the Institute of Chartered Accountants in England and Wales (ICAEW) showed that 78pc of SMEs believed rate rises next year would not damage their business.

Blind Faith in the EU is not a strategy, PM warns firms – David Cameron was forced to defend his plans to hold a referendum on Britain’s role in the European Union yesterday, after business leaders claimed it was “overwhelmingly in our national interest” to remain part of Europe. The Prime Minister told the BCI’s annual conference that the prospect of an in-out referendum on Europe in 2017 was not causing uncertainty among overseas investors. He claimed that Britain had attracted more inward investment than the rest of Europe combined in recent months.

SME funding ‘held back by EU rules’ – Small and medium-sized businesses are pressing the newly elected European Commission to remove barriers that prevent then “shopping around” for financing. Europchambres, the Association of European Chambers of Commerce, has told the commission that SMEE’s are struggling to gain access to funding for start-ups and expansion. They said fragmented European rules for lenders and borrowers and a lack of risk culture have become a major obstacle in the drive to create a more favourable investment climate for SME’s.

Motorists are promised a £15bn @roads revolution’ – New lanes will be built on motorways across the country as part of a “roads revolution” to be announced in next month’s Autumn Statement. The Government will spend £15billion on 100 major road projects by the end of the decade as the economy continues to recover. Speaking today a the Confederation of British Industry’s annual conference in London, David Cameron will say the Government will embark on the “biggest, boldest and most far-reaching road improvement programme” for 40 years.

Clean-up fines target littering drivers – The Government is setting out plans that would see motorists who allow rubbish to be thrown from their cars to be prosecuted as ministers look to make littering as socially unacceptable as drink-driving. The Government wants to make it easier for councils to fine those who throw litter from cars, cutting down on roadside rubbish that costs millions of pounds to clean up. Currently, outside London, enforcement officers can only fine people if they can prove who threw the rubbish from a vehicle, but new powers passed by parliament allow officials to fine the registered keepers of the vehicle, and the Government has now commissioned a study to weigh up the most cost-effective way of bringing this forward.

Speeding fines net £11.5m – Britain’s beleaguered motorists paid £11,5 million in speeding fines last year, leading to accusations they are being treated as “a cash cow”. More than 115,000 were given the £100 penalty by magistrates. The sum, received in 2013, is £500.000 more than two years earlier.

The Independent

Mercedes C-Class faces recall – Daimler’s Mercedes-Benz unit is recalling more than 10,000 C-Class models from model year 2015 in the US, because some of the cars can lose steering function at low speed. Mercedes said it had received reports of two incidents from outside the US alleging loss of steering. No injuries have been linked with the defect.

Cameron fails to appease businesses over EU vote as leaders woo CBI – Business leaders yesterday appealed to David Cameron to tone down Conservative “rhetoric” on the EU as they declared that continued membership would be good for the British economy.

Online sales grown despite high street’s flat October – UK retail sales were flat in October according to the largest BRC-KPMG Retail Sales Monitor but online sales, excluding food, jumped 15.4 per cent – the highest online growth since Christmas.

The Daily Mail

Beware the car tax con tricks – Motorists are being warned not to fall victim to an email from fraudsters asking them to verify their driving license details. A message claiming to be from the DVLA asks recipients to click a link in the email which leads them to an online form to fill in their personal information. The fraudsters then use these to steal from their bank account or copy their identity.

Hyundai, Kia to triple range of green cars by 2020 – Hyundai Motor Co and its affiliate Kia plan to triple their number of fuel-efficient cars by 2020, addressing concerns about the pair’s green track record. The announcement comes after investors voiced their concern about some of Hyundai’s latest models, which are less efficient than their predecessors.

Posted by Sue Robinson on 14/11/2014