BIG INVESTMENTS BOOST UK’S GREEN SECTOR
The prospect of thousands of new “green” jobs in the UK as part of a drive for a low carbon economy came a step closer with two big investments in the environmental sector. Siemens, the German industrial giant, became the fourth wind turbine manufacturer to announce that it would set up shop in the UK, with an £80m investment in a plant to build offshore wind turbines, which promises to create about 700 new jobs.
JOBSEEKERS’ SUPPORT FACES SHAKE-UP
Yvette Cooper, work and pensions secretary, yesterday unveiled a shake-up of jobseeker support that softened the requirements of the sickness benefit regime and created a new job-creation scheme for the long-term unemployed. The policy paper signals the end of the troubled Pathways to Work programme, the welfare-to-work scheme for people on sickness benefit, without endorsing a specific replacement for it next year.
INVESTEC MOVES TO SECURE CONTROL OF RENSBURG
Investec, the South African financial services group, is close to taking full control of Rensburg Sheppards in a deal that could value the private client wealth manager at £400m. The investment bank has offered £9 a share to buy out the 52 per cent of Rensburg’s shares it does not own, people close to the situation said
SMARTPHONE BOOM POISED TO SET TONE IN US
Sales of smartphones in the US such as the iPhone, BlackBerry and Motorola Droid will overtake sales of older-generation “feature phones” by the end of next year, according to the Nielsen research company.
ENERGY GIANTS PINPOINT LOCATION OF NEW BRITISH NUCLEAR POWER PLANT
Britain’s next nuclear power station will be built on Anglesey, North Wales, under a £7.5bn plan being drawn up by two of biggest energy providers in the UK. Horizon Nuclear Power, a joint venture owned by E.ON and RWE, is expected to make a formal announcement today on the lead site for its first new UK nuclear power station.
L’OCCITANE TO BE LISTED IN HONG KONG
A French cosmetics company whose products project the allure of Mediterranean scents and herbs — lavender, almond blossom and rosemary oil — is spurning the Paris bourse for its initial public offering and instead will list its shares in Hong Kong.
The Daily Telegraph
CHINA'S DEMAND FOR GOLD 'WILL DOUBLE'
Demand for gold from China will double within the next decade, according to a report from the World Gold Council. China’s demand for gold in areas such as jewellery lags behind other countries, while its central bank holds less gold than other states as a percentage of total reserves, the WGC said. The report also predicted that China’s gold mines would not keep pace with demand and could even be exhausted within six years.
SKY PREPARING LEGAL CHALLENGE TO PAY-TV RULING
BSKYB is preparing a legal challenge against Ofcom’s interpretation of the 2003 Communications Act as it attempts to stop the regulator – which will publish its recommendations today – from forcing it to cut the prices for its sports and movie channels.
WALL STREET JOURNAL
NEW IPHONE COULD END AT&T'S US MONOPOLY
Apple is developing a new iPhone to debut this summer and also appears to be working on another model for US mobile phone operator Verizon Wireless. The new model with CDMA capability, the cellular technology used by Verizon, is notable because Apple and AT&T Inc. have long had an exclusive relationship with the iPhone.
BOEING'S DREAMLINER LAGS TESTING SCHEDULE
Boeing’s flight-test program for its new 787 Dreamliner jetliner is running behind schedule, though the company insists it will still deliver the first of the planes by year end. The company was finally able to get the Dreamliner aloft last December, but it has yet to begin an in-flight certification process with the FDA.