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The Financial Times
Inflation edges higher in July
The consumer prices index rose to 0.1 per cent in the year to July, mainly due to clothing, with smaller price reductions in this year’s summer sales than a year ago. This is a welcome boost to consumer spending power.
Volvo upbeat as rebound in sales lifts profits 71%
Volvo is forecasting a big profit rise this year as a new sport utility vehicle and rebounding sales in Europe and the US offset a slowdown in Chine, the Swedish carmaker’s biggest market.
Companies & Markets
Rolls-Royce keen to stay on diversification course
Rolls-Royce new chief executive is of the belief that the company’s diversification is ‘broadly correct’ despite heightened pressure from a US-based activist fund for the disposal of its poorly performing land and sea businesses.
Tax concessions urged to help commuters go the extra mile
Workers should be given tax breaks to share cars as part of reforms to encourage more people to commute long distances, ministers have been told.
Cars left unlocked in airport scam
A rogue car valeting company that said it would park holidaymakers’ cars securely near Gatwick airport left them unlocked in fields.
Sterling up on hint of rate rise
Sterling rose yesterday as traders reacted to the prediction from a Bank of England rate-setter that interest rates would have to rise before inflation reached the official 2 per cent target.
The Daily Telegraph
Electric bikes hit the streets to take the sweat out of cycling to work
Electric bicycles promise to transform the daily commute and could become a common sight on city roads as early as next year, the boss of Britain’s largest bike manufacturer has predicted.
Car cover fraud
Some 212,000 fraudulent motor insurance applications were made last year – equivalent to 4,000 every week. Most common lies included not disclosing previous claims and giving a false address.
Exposed: the great car-hacking scandal (and how Volkswagen spent two years trying to keep it secret)
Tens of thousands of cars are vulnerable to thieves using electronic hacking, according to researchers whose findings were supporessed by a major manufacturer for two years. The full details of the security loophole, which can now be revealed, show a widely used electronic security device designed to prevent thieves from breaking in and driving off with vehicles could easily be disabled by criminals. (Instead of hotwiring, criminals are using technology to gain control of vehicles, especially in London, where four out of ten car thefts involve electronic hacking)
Government’s £30m scheme to help small businesses criticised as a failure
A £30m government scheme to help small businesses pay for expert advice has been branded a flop after only a fraction of the cash was handed out.
Security flaw in 100 models of cars exposed by academics
A major security flaw in more than 100 car models has been exposed in an academic paper that was supressed for two years after Volkswagen took legal action. The research team discovered that manufacturers including Audi, Fiat and Honda had models that were vulnerable to ‘keyless theft’ because a device designed to prevent the vehicle being stolen could be disabled easily.
More than half of UK graduates are in non-graduate jobs
Britain’s failure to create sufficient high-skilled jobs for is rising proportion of graduates means the money invested in education is being squandered while young people are left crippled by student debts, a new report warns.
MoT meltdown as computer glitch hits testing stations
Millions of motorists risk being forced off the road after major glitches in a government computer system meant garages could not issue valid MoT certificates. Test centres complained of ‘incompetence’ as they reported how the online system had failed in recent days.