China eyes UK nuclear controls
The state-owned Chinese nuclear group that is in talks to invest in Britain’s new nuclear programme wants greater operational control of any new plants it finances, potentially creating a national security headache for the government.
China General Nuclear Power Group (CGN), is in talks with EDF of France on sharing the cost of building a new plant at Hinkley Point, Somerset, which has an estimated price tag of £14bn.
Ikea signals slower expansion
Ikea’s new chief executive has rowed back on his predecessor’s pledge to double the pace of store openings, underlining a power shift at the world’s largest funiture retailer. In his first interview as chief executive, Peter Agnefjäll told the Financial Times he was hoping to increase the number of annual store openings from five this year, a figure he called a “record low”.
Fitness app users see data harvesting
The next time you use your smartphone to inquire about migraine symptoms or to check out how many calories were in that cheeseburger, there is a chance that information could be passed on to insurance and pharmaceuticals companies. The top-20 health and wellness apps, including MapMyFitness, WebMD Health and iPeriod, are transmitting information to up to 70 third-party companies, according to Evidon, a web analytics and privacy firm.
Flawed mansion tax would hit flats
Plans for a “mansion tax” raid on the wealthy are so ill-conceived that they could trap owners of flats in London and would fail to generate anywhere near the estimated £2bn of revenue a year. A report, from property consultant Knight Frank, to be distributed to all MPs today says plans by Liberal Democrats and Labour to tax homes worth £2m or more are seriously flawed.
Spotlight falls on former bank boss
MPs will have a chance this week to grill Neville Richardson, the ex boss of the Co-operative Group’s bank about his £4.6m pay in his last year.
The Daily Telegraph
Motorists warned of record oil prices
The oil price could spike to $150 a barrel if the troubles in Syria engulf the Middle East, City analysts predict, while motorists are being warned of a feed-through into new “record” prices at the pumps.
RBS loans McLaren £50m for factory
British supercar manufacturer McLaren has taken out a £50m loan from Royal Bank of Scotland to fund the acquisition of its factory in Surrey, which was opened in November 2011 by David Cameron. Recently-filed documents show that on 31 July the loan was secured on the entire share capital of McLaren Automotive Asia.
THE WALL STREET JOURNAL
China probes former oil firm head
A sweeping anticorruption investigation has targeted its highest official so far, the former chairman of China National Petroleum Jiang Jiemin, in a move by Chinese leaders that some political insiders and analysts said is meant to curb the influence of big state industries.
Japan firm’s blood thinner proves safe
Results from a highly anticipated study of Daiichi Sankyo’s experimental drug to reduce blood clots showed that it appeared to work as well as the current standard treatment —though no better—and is safer.