Land Rover exposes skills shortage
Two years ago the West Midlands economy was celebrating one of its biggest investment coups when Jaguar Land Rover announced plans for a £350m engine plant near Wolverhampton, promising valuable work for 150 of the region’s automotive suppliers. Today, talk among this group of small, often family-owned companies is not of winning orders for car components, but fear of losing their core staff. With recruitment under way for the soon-to-be completed plant, skilled engineers are being lured away by the offer of higher salaries.
Royal Mail eyes Sunday deliveries
Royal Mail is preparing a move to seven-day-a-week deliveries after privatisation, driven by customer demand for convenient delivery times in the age of amazon and ebay. Ministers plan to begin privatisation of the world’s oldest postal service, probably through a stock market flotation this autumn.
Dublin to delay bank stress tests
Dublin has won approval from its international lenders to delay its next round of bank stress tests until 2014, despite concerns over the health of its lenders.
Facebook turns green with servers
Facebook hailed a new era in energy-efficient computer processing as it opened a vast server warehouse on the edge of the Arctic Circle in north Sweden for 350 million European users.
Tony Shiret cries foul on redundancy
A leading City analyst claimed yesterday that his former employer considered him more the “grandfather of retail”, choosing to make him redundant at the age of 55. Tony Shiret said he was “shocked and stunned” to be laid off by Credit Suisse.
The Daily Telegraph
Fresh EU-China tariff row
The EU today requested consultations with China at the WTO, noting that Japan had filed a similar complaint earlier this year. The European Commission said it believed the Chinese anti-dumping duties were incompatible with WTO law.
Brazil losing reserves fast
Brazil is relying on derivatives contracts to stem the slide of the real and camouflage capital flight. The central bank spent $5.7bn (£3.6bn) defending the currency this month.
THE WALL STREET JOURNAL
Canada PM preaches austerity in UK
Canadian Prime Minister Stephen Harper waded into a controversial debate abroad, telling Europeans to stick with austerity measures to heal their battered economies. Harper told British lawmakers that governments need to live within their means.
Airbus A340s pose sizable risks
As Airbus prepares the first flight of its A350, the aircraft maker and its bankers are facing what could be hundreds of millions of dollars of losses on the plane’s failed predecessor.