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FTThe Financial Times

Entrepreneurs who favour Brexit cite red tape and immigration

Small business owners who want Britain to leave the EU cite red tape, immigration and foreign competition as their main reasons for favouring “Brexit”, a survey has shown. Three thousand entrepreneurs have signed up to support, a group pressing for the UK to quit the EU in the forthcoming referendum on membership.

UK probes quality of car emissions tests after VW crisis

MPs are to investigate if the way the UK approves the road worthiness of cars is “fit for purpose”.

It follows the Volkswagen emissions scandal in which some diesel cars had software fitted designed to cheat emissions tests. Parliament’s Transport Committee said it would look into whether arrangements for testing noise, performance and emissions met EU standards. The Vehicle Certification Authority oversees approval of UK vehicles.

VW’s car sales fall in EU amid wider market slowdown

Volkswagen’s group sales and market share in the European Union dipped in October, suggesting that the emissions scandal might have had an impact. VW Group’s total EU sales were 0.5% down from October 2014, while market share slipped to 24.9% from 25.37%. The data from the Association of European Carmakers (ACEA) also showed a slowdown in EU growth as a whole. Just more than 1.1 million cars were sold in the EU last month, up 2.9% on last year but 9.8% down on September.

UK inflation rate remains negative in October

The UK’s inflation rate as measured by the Consumer Prices Index remained at -0.1% in October, the Office for National Statistics has said. The news will further dampen expectations of a rise in interest rates any time soon. The Bank of England said earlier this month that the global economy was weakening, depressing inflation risks. Following this report, many economists forecast that rates would not rise until well into next year. The ONS added that the Retail Prices Index, a separate measure that includes housing costs, fell to 0.7% in October from 0.8% in September. This is the lowest RPI rate since November 2009.

The Guardian

Leave businesses alone in your Autumn Statement, business group tells Osborne

The Chancellor should leave businesses alone in his forthcoming Autumn Statement, giving firms time to deal with several major changes introduced already this year including the new living wage, according to the accountancy trade body, The ICAEW. Ahead of George Osborne’s speech on his latest plans for the economy on November 25, the Institute of Chartered Accountants in England and Wales said businesses were still wading through a series of reforms announced in his post-election Budget in July

Volkswagen’s Europe market share shrinks in first month of emissions scandal

Volkswagen’s market share in Europe declined in October, the first full month of sales since the company’s emissions-cheating scandal became public. The German manufacturer accounted for 25.2pc of new-car registrations in the region last month, compared with 26.1pc a year earlier, the Brussels-based European Automobile Manufacturers’ Association, or ACEA, said. Carmakers’ sales across Europe rose 2.7pc to 1.14 million autos, slowing from a 9.8pc jump in September, as demand at Volkswagen fell 0.8pc.

‘National living wage’ will push up wages at more than half of employers

The new “national living wage” will push up wages at more than half of all employers, forcing many of them to seek savings through improved productivity, according to a major survey. The survey, one of the first to test the mood among employers before the higher wage comes into effect next April, found that 54% of respondents said it will have a material effect on their wage bill.

The Daily Telegraph

EU referendum: 16 year-olds should not be allowed to vote

The House of Lords this week resumed consideration of the European Union Referendum Bill, which should offer British voters an overdue and welcome say on membership of the EU by the end of 2017. Labour and Liberal Democrat peers – who hold sway in the upper chamber – want to extend the franchise for the referendum, allowing 16- and 17-year-olds to vote. Advocates argue that since people of that age may vote in elections to the Scottish Parliament, they should also be able to vote on Europe. This logic is obviously flawed: just because something happens in Scotland, that does not make it right. The case for votes at 16 is far from clear, and we remain unconvinced.

The Independent

Black Friday: Asda, John Lewis and Argos among stores scaling back massive day of sales

Big retailers are turning their backs on Black Friday. Asda has said it is dropping out of Black Friday this year, joining Argos, Primark, Oasis, John Lewis and Mothercare in either cancelling the day of sales, or reducing their participation in the day. Argos is offering deals every Friday in November to try and spread out sales, while John Lewis is sticking to its standard offer of never being beaten on price and offering a few electricals deals on the day.

The Daily Express

Young motorists underestimate cost of car insurance

A survey of 500 young drivers by the RAC has found that 56% underestimated the average £810 cost of insuring a car for a 25-year-old, expecting to pay £750. Things are even more expensive for 18-20-year-old drivers, who have to pay an average of £972 a year – which is nearly three times as much as the £367 premium for the average UK driver.

Posted by Sue Robinson on 20/11/2015