Highest court throws out legal challenge to High Speed Two January 22, 2014 CAMPAIGNERS against High Speed Two have lost their final legal appeal in the UK after two years of fighting the rail project in the courts – though one group pledged to appeal to the European authorities. Transport minister Baroness Kramer said the unanimous decision in the Supreme Court yesterday “fully vindicated” the government’s work on [...]
Property industry calls for urgent changes to water bill after floods January 22, 2014 A GROUP of property industry experts are calling on the government to rethink its plan to provide affordable flood insurance, claiming that thousands of households will be excluded. Ministers have been working with the insurance industry on a solution to costly premiums in areas where flooding is commonplace. The Flood Re agreement will cover 500,000 households, but [...]
UK car output hits fresh high January 22, 2014 BRITAIN produced more than 1.5m cars last year, putting the industry in sight of the output peak of the 1970s, figures out today show. The number of cars rolling off UK production lines rose 3.1 per cent to reach the highest level since 2007. “UK automotive investment announcements exceeded £2.5bn in 2013, reinforcing industry analysts’ [...]
Dyson expansion to create 3,000 jobs January 22, 2014 UK engineering firm Dyson has announced a £250m investment to double the size of its research centre in Wiltshire and hire 3,000 engineers. The company, founded by James Dyson (pictured), said yesterday that it had “drawn up a blueprint” for the largest expansion in its 20 year history.
Industry welcomes EU green targets for 2030 January 22, 2014 BUSINESS GROUPS and the energy industry yesterday welcomed the EU’s new low-carbon and renewables targets for 2030, alongside guidelines for shale gas exploration. The EU as a whole must cut greenhouse gas emissions by 40 per cent by 2030 and renewable power must make up at least 27 per cent of the region’s energy mix. [...]
Growth puts the UK on track to beat its budget deficit target January 22, 2014 THE BUDGET deficit narrowed marginally during December this year, dropping by £2.1bn to £12.1bn, compared to the same month of 2012, suggesting that the Treasury may meet its target on public finances after many revisions. Public borrowing for the financial year up to December hit £96.1bn, falling by almost five per cent compared to 2012-13’s [...]
Vicky Pryce joins economists’ panel at Department of Business January 22, 2014 ECONOMIST Vicky Pryce was yesterday re-appointed to the panel of economists advising business secretary Vince Cable. Pryce, who also sits on City A.M.’s shadow monetary policy committee, was on the panel for a decade, beginning when she worked at the Department for Trade and Industry. She left the role in 2010 when her then-husband Chris Huhne [...]
Small firms told to borrow more to grow January 22, 2014 BANKS are back on the front foot this morning with a new campaign aimed at encouraging small firms to grow. After years of being told they are not lending freely enough, banks are now arguing small firms need to be more confident in applying for credit. The British Bankers’ Association’s (BBA) campaign argues 270,000 businesses [...]
Online sales boost Visa January 22, 2014 INTERNET sales soared 18 per cent in the last year in the UK, Visa Europe reported yesterday. That outpaced overall Visa spending which increased by nine per cent in the year to September 2013, to £445bn. Online payments accounted for £110bn of that total, the credit card firm said. Meanwhile contactless payments increased four-fold on the [...]
BAE boss says UAE talks will not be revived January 22, 2014 BAE SYSTEMS chief Ian King yesterday confirmed that collapsed talks to sell its Eurofighter Typhoon jets to the UAE would not be revived, but insisted the deal’s failure would not impact its ability to sell to other nations. King told reporters at a London event that the defence giant’s aircraft “met the UAE’s very exacting [...]