What the other papers say this morning – 27 March 2014
FINANCIAL TIMES
Tories eye migration sleight of hand
Theresa May is proposing to cut net migration by more than 19,000 ahead of the next general election in a statistical sleight of hand that would shorten visas for foreign employees by as little as one day in a bid to avoid designating them as migrants. The Home Secretary is considering the measure amid concern over immigration, which is rising despite the Conservative pledge to drive down the number of net incomers to less than 100,000 by 2015. Recent data shows net migration climbing by a third to 212,000 . Whitehall officials said one solution under consideration was to reclassify the 12 month intra-company visa as an 11-month permit.
WTO rules on China and rare earths
The World Trade Organisation has ruled against China and its export restrictions on rare minerals vital to the production of smartphones, cameras, steel and hybrid cars in a significant victory for the US, EU, and Japan. The WTO said Beijing had for years used trade policy to control key markets for strategic commodities.
Egypt and Russia to boost trade ties
Egypt is discussing a trade agreement with the customs union of Russia, Belarus and Kazakhstan, in the latest sign that Moscow is seeking to capitalise on US troubles in the middle east to expand its influence in the region. Mounir Fakhry Abdennour, Egypt’s trade and industry minister, who is in Moscow, said that Russia had agreed to start talks on a trade agreement.
THE TIMES
Recovery risks running out of bricks
The making of bricks in Britain has fallen so steeply that the country has the equivalent of only about two months’ of supply in stock, an industry leader has warned. The head of Michelmersh Brick Holdings said that a “difficult five years” meant that brick stock levels had fallen from 1.1bn bricks to 332m.
Cider drought feared after floods
West Country apple growers are warning of a cider drought after floods damaged thousands of trees. Acres of orchards in Somerset and Herefordshire, two of the biggest cider producing areas, were under water for weeks, threatening the industry after a recent boom in demand.
The Daily Telegraph
Shopper wins 16-year laptop battle
A man has won a 16-year battle over payments for a laptop computer. Richard Durkin took his case to the UK’s highest court after claiming lender HFC Bank, now part of HSBC, ruined his credit rating after a dispute over the purchase of a £1,500 laptop. The Supreme Court in London has ruled that he should receive £8,000 in damages
Levi’s to cut 800 jobs after slump
Levi Strauss will eliminate about 800 jobs, almost 20 per cent of non-retail and non-manufacturing employees, over the next 12 to 18 months. Last month, the company said that profits in the fourth quarter fell after slow demand, especially in Europe, where profits fell by 55 per cent.
THE WALL STREET JOURNAL
Microsoft relaxes Windows policy
Microsoft’s new boss on Thursday will have his first shot at outlining a new, less Windows-dependent path for the company. Chief Executive Satya Nadella is expected to disclose a new version of Microsoft’s popular Office software for the iPad, people familiar with the matter said.
Siemens chief meets Putin in Russia
Russian President Vladimir Putin, whose country recently was ousted from the G8, received a vote of confidence from one of Europe’s biggest companies yesterday. Chief Executive Joe Kaeser met Putin outside Moscow on Wednesday. The men talked up Germany and Russia’s special economic relationship.