BUSINESS CALLS FOR REVIEW OF CURBS ON MIGRANTS
New rules that restrict companies from hiring foreign workers must be “reviewed immediately”, the CBI employers’ body said, putting the business lobby on collision course with the government. The Home Office imposed a temporary limit on skilled workers coming to Britain from outside the European Union because of fears of a flood of applications ahead of the introduction of a permanent cap next year.
US CHARGES HACKERS OVER BANK FRAUD SCHEME
US prosecutors yesterday charged 70 people allegedly involved in a cybercrime scheme that used malicious software to steal more than $3m from dozens of bank accounts. On Wednesday, police in London arrested 19 people, 11 of whom were charged over an alleged Zeus attack that stole £6m from UK bank accounts.
LOTUS AIMS TO REVIVE BOND CAR GLORY DAYS
Lotus wants to return to its “Bond car” glory days and take on Porsche with a plan to relaunch its brand and triple its production of luxury sports cars within five years. The legendary but perennially lossmaking British carmaker on Thursday unveiled five planned models and said its owner Proton had secured £500m to £800m to back a 10-year turnround.
CABLE JOINS FIGHT AGAINST AIRCRAFT CARRIER CUTS
Vince Cable has intervened to stave off cuts to the aircraft carrier programme, echoing the fears of Liam Fox, the defence secretary, over the harm to Britain’s shipbuilding industry. The business secretary pressed the case for protecting the engineering skills base at a key meeting of the National Security Council.
FISHER-PRICE TOYS RECALLED IN SAFETY ALERT
More than 70,000 Fisher-Price baby toys and high chairs sold in Britain have been recalled by the parent company Mattel as part of a worldwide effort in response to reports of children being choked, cut or bruised.
High chairs, toys with inflatable balls and the Wheelies Stand ’n’ Play Rampway have been recalled in Britain.
TIMES CAMPAIGN FORCES NPOWER TO PAY £70M FOR OVERBILLING
Npower, Britain’s fourth-largest domestic energy company, has agreed to pay £70m in compensation to 1.8m customers who were overcharged for gas. The victory comes at the end of a two-year campaign, championed by The Times Money section, to secure proper redress for customers.
The Daily Telegraph
FLEXIBLE WORKING RIGHTS DELAYED AS GOVERNMENT BOWS TO PRESSURE
The Government has bowed to industry pressure on red tape by putting off a key coalition pledge on extending the right to request flexible working to all employees, according to campaigners. Employment relations minister Ed Davey yesterday announced plans to extend the right to request only to parents of children aged under 18 from next April.
TAXMAN TOLD VAT IS NOT DUE ON MUSIC REVIEW CDS
Tax experts say European Court of Justice decision on a £3m VAT case brought by HM Revenue & Customs against EMI will mean that companies can claim for overpaid VAT and that UK laws on product samples and small value business gifts will be overhauled. Sample products should be free from VAT, the court has ruled.
WALL STREET JOURNAL
HUNGARY'S FIDESZ SET FOR BIG WIN
Riding a surge in popularity after refusing to back down to the International Monetary Fund, Hungary’s governing Fidesz party is set to win a landslide victory in local elections Sunday. A second decisive win in six months would give the government the political strength it needs to make sweeping changes to the welfare and pension systems.
YOUTUBE STRIKES DEAL WITH FRENCH MUSIC INDUSTRY
Songwriters and composers will get paid when their videos are seen on YouTube in France, under a deal announced Thursday by the online video-sharing site and France's leading music-industry group. The industry group SACEM called the deal difficult to reach but innovative, and a victory in its efforts to protect copyright and make money online.