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Weekly newspaper updateBack

FTThe Financial Times

US steelmakers plan car market comeback – A wave of heat surges through the hall the steel-finishing plant in Calvert, Alabama, as a large slab of the metal emerges from a furnace at temperatures of up to 3,000C. Then, glowing like molten lave, the steel slab rumbles towards a series of powerful rollers that turn it into thin metallic sheet. But, there is far more to the process at the plant than extremes of heat and power. The Calvert mill – which Arcelor-Mittal and Japan’s Nippon Steel & Sumitomo Metal jointly acquired in February for $1.6bn – produces steel that keeps it strength even when rolled our far more thinly than was previously possible.

The Daily Telegraph

Ford in reverse as Europe profit hopes dashed – Shares in Ford fell more than 7pc after the car manufacturer’s new chief executive said it would take a year longer than hoped to deliver a profit in Europe. Mark Fields, who took the reins at Ford in July, said its European arm would lose about $1.2bn (£740) this year and remain $250m in the red in 2015 amid tougher than expected economic conditions.

GM anticipates European profit – General Motors expects to post a profit in Europe in 2016, its first since 1999. It also expects to hit North American operating margin targets that year. Chief executive Mary Barra said that the ten per cent margin target for Europe included steps to mitigate the downturn in the Russian market.

New car tax law means drivers miss out on discount – Hundreds of thousands of motorists have been denied promised discounts as part of the switch over to an electronic car tax system. Drivers were told that under the ‘electronic’ car tax scheme, they would be able to pay the annual fee by direct debit. However, drivers who had already renewed their tax for October missed out on the chance to pay monthly, which would have cut a surcharge from ten to five per cent.

The Times

Toyota hails its hydrogen car Toyota is planning to introduce Hydrogen fuel cell cars in Britain from next summer. The carmaker plans to use Britain as a test bed for its hydrogen vehicles, in an attempt to encourage investment in hydrogen-fuelled zero-emission electric cars. The FCV is being touted as the ‘ultimate eco-vehicle’ as it can be filled in the same time it takes to fill a petrol or diesel car and can run as far and as fast as cars with combustion engines.

Curb on young drivers – Young drivers should have limits on the number of passengers they can carry, most people believe. In a survey on rad safety by Direct Line, 58 per cent of the 2.003 adults questioned said they thought that restriction should be introduced. Other suggestions for measures to be applied specifically to younger motorists included regular retesting, lower speed limits and a curfew to deter late-night driving.

The Independent

DVLA website crashes as tax discs flee the scene The first day of the paperless car tax system descended into chaos with the DVLA website buckling under “unprecedented

Posted by Sue Robinson on 03/10/2014