Coalition split deepens over welfare budget January 6, 2014 CHANCELLOR George Osborne has announced he will cut a further £12bn from the welfare bill if the Conservatives are in power after the 2015 general election. In a speech in Birmingham yesterday, Osborne set out his economic plan for the next four years, describing 2014 as “a year of hard truths,” and adding that the [...]
Nissan’s black cabs look green but electric launch faces hurdles January 6, 2014 NISSAN has hailed its new black cab as a greener, cheaper alternative to the traditional Hackney carriage – but warned an electric version will only launch in London if the city installs more charging points. A spokesperson said the petrol engine NV200 will appeal to London’s 25,000 licensed taxi drivers when it hits the roads [...]
Clegg distances himself from shares for rights policy January 6, 2014 DEPUTY prime minister Nick Clegg yesterday sought to distance himself from the coalition government’s employee shareholder policy introduced by fellow Liberal Democrats Vince Cable and Jo Swinson just nine months ago. Calling the scheme, which allows employees to surrender some of their rights in return for shares in the company that they work for, a [...]
Car makers join Google’s plan to connect cars January 6, 2014 The latest technology, manufacturing and business news from the Consumer Electronics Show in Las Vegas… GOOGLE announced plans yesterday to team up with major manufacturers to put its Android platform into cars by the end of 2014. Honda, Audi, Hyundai, General Motors and chipmaker Nvidia have all joined Google’s Open Automotive Alliance (OAA), which aims [...]
Nvidia to bring console quality graphics to mobile before 2015 January 6, 2014 MOBILE phones will soon rival the latest games consoles in the quality of their graphics as Nvidia yesterday promised to bring next-generation gaming to smartphones this year with its latest mobile processor. Nvidia said its Tegra K1 chip would bring games superior to those seen on Microsoft’s Xbox One and Sony’s Playstation 4 to mobiles. [...]
Environment minister warns risk of flooding remains high January 6, 2014 MORE flooding could be on the way this week as the recent bad weather looks set to continue, the environment minister has warned. Owen Patterson gave a statement in the House of Commons yesterday and warned residents to remain vigilant after bad weather claimed the lives of seven people over the Christmas period. The minister, [...]
Britain to gain as EU may ease bank ringfence January 6, 2014 THE UK will benefit from plans to let national regulators decide whether or not to implement a ringfence, lawyers said yesterday. Britain’s ringfence plans had looked as if they would clash with the EU’s, making implementation difficult and costly for banks and regulators. But documents seen by the Financial Times indicate national regulators may get more of [...]
Channel 5 boss Richard Desmond sues Man Group unit over trade January 6, 2014 MEDIA boss Richard Desmond is suing a unit of Man Group over a derivative product he bought in 2007 which he claims was too complex to understand, according to papers filed at the High Court. Desmond has brought the claim against Man’s hedge fund arm GLG Partners after he lost nearly £20m on a capital [...]
UK pension plans still haunted by deficits despite stock rally January 6, 2014 THE BLACK hole at the heart of Britain’s corporate pension schemes increased by £25bn last year despite better returns from the stock market and higher payments by companies, fresh figures show. The difference between the amount of cash that FTSE 350 company pension schemes have to pay pensions and the value of pensioner payouts went [...]
Angela Merkel suffers skiing injury January 6, 2014 GERMAN Chancellor Angela Merkel fractured her pelvis while cross-country skiing during the Christmas period, and will be cutting back on her duties while she recovers, according to an official announcement yesterday. Merkel will be working from home when possible over the next three weeks, and has cancelled a visit to Warsaw tomorrow.