Cameron shelves migration report
David Cameron shelved a government report on EU migration, after Theresa May, home secretary, failed to provide evidence to support her case for imposing tighter curbs on immigrants. May, whose department was responsible for drafting the report, said last month there was “abuse of free movement” and that some migrants were attracted by “access to benefits” – although she has struggled to prove her contention that limiting EU migration would be good for Britain. Immigration has surged up the political agenda but ministers have failed to provide evidence to back claims, repeated by Cameron, that many migrants travel to Britain for generous benefits.
Russia ups clout with Hungary loan
Moscow is set to lend Budapest €10bn (£8.32bn) to finance two Russian-built reactors at Hungary’s only nuclear power plant, in the latest in a series of Russian moves to use its energy and financial clout to restore influence in eastern Europe. Moscow announced last month a bailout of Ukraine and cut natural gas prices to the country by a third after Kiev spurned an EU deal.
Wells Fargo calls bitcoin summit
Wells Fargo has convened a group of finance executives, virtual currency experts and representatives from the US government to discuss “rules of engagement” with bitcoin, amid concern about the money laundering risks of the new currency. The ban has expressed an interest in dealing with bitcoin.
Love is in the air
Another day, another publicity stunt at Ryanair. The airline has launched a “Love Ryanair” competition to capitalise Valentine’s Day run up. It has invited couples who “found love with Ryanair” to share their story, for the chance to win a dream wedding and to propose on a flight.
Toshiba set new pace in nuclear drive
Aspirations for a new generation of British nuclear power stations were given a boost yesterday when Toshiba promised to build a reactor in Sellafield in half the time planned to complete the Hinkley Point nuclear plant. The multinational confirmed it had bought a stake in the consortium held by Iberdrola.
The Daily Telegraph
Cameron says no blackout danger
Britain is in “no danger” of suffering blackouts due to energy shortages, David Cameron has insisted, dismissing fears that the energy crisis could see power cuts become “the norm” by winter 2015. At the Liaison Committee, the Prime Minister said that keeping the lights on was “the most important energy policy objective”
Japan Airlines grounds Dreamliners
Japan Airlines has temporarily grounded one of its 787 Dreamliners after white smoke was spotted outside the plane, warning lights in the cockpit indicated possible faults with the main battery and charger, and one battery cell appeared to be leaking.
THE WALL STREET JOURNAL
Lithuania PM to join euro or resign
Lithuania's Prime Minister Algirdas Butkevicius told local media yesterday that he plans to resign if the Baltic nation fails to win approval to adopt the euro in a year's time. Butkevicius called on the country's central bank to start a publicity campaign for the proposed new currency.
Rajoy sees Spain growing in 2014
In Washington, Spanish Prime Minister Mariano Rajoy said he expects “real growth” for Spain this year. He added that a year ago, there were “doubts about the existence of the euro itself,” with the continent’s economy shrinking and. “That was the narrative a year ago,” he said. “A year later, all that is changed.”