What the other papers say this morning – 06 February 2014
FINANCIAL TIMES
Super rich in London boost economy
London’s super-rich are “major contributors to the UK economy”, spending £4bn a year on goods and services, according to new research that underlines the financial impact of the capital’s wealthiest homeowners.Foreign investment in London property has become a political issue, with overseas buyers blamed for pricing locals out of central areas and leaving their homes empty in a city chronically short of housing. Some 1,338 homes were sold for more than £5m in the prime areas of central London in the decade to 2013. At least 60 per cent of these were bought by overseas buyers, researchers from Ramidus Consulting estimated.
Win for French online taxi operators
An attempt by France’s government to placate taxi drivers angered by a threat to their monopoly by making users of private cabs wait 15 minutes for their ride, has been thrown out by the country’s highest administrative court.
The suspension of the 15-minute rule by the marks a victory for online booking services.
Mexico secures A-grade credit rating
In a slap on the back for the brace of structural reforms passed by Mexico last year, Moody’s has upgraded the Aztec nation’s sovereign debt by one notch, giving it an A-grade rating for the first time in history. The rating agency said the promotion was motivated by reforms that were expected to “strengthen the country’s potential growth prospects”.
THE TIMES
Badge reveals every move at work
A Japanese company has unveiled an ID badge that tracks you in the workplace and reveals all to management. Hitachi is building a business microscope device that can detect to whom you have spoken, how long you have been idle and how often you visit the lavatory.
Cost threatens Panama canal project
A $5bn (£3.07bn) plan to expand the Panama Canal and reshape the flow of world trade is at imminent risk of failure at the cost of 10,000 jobs and billions of dollars of spending, the Spanish company leading the works has warned. The project to widen the canal is due to be completed next year but has run into cost disputes.
The Daily Telegraph
New direct link to Colombia
Heathrow Airport will announce today a deal with Colombia’s national airline that will give the UK its first direct connection to the Latin American country for a decade. The deal has been five years in the making and Heathrow claims it is proof that a lack of capacity is preventing direct links with fast-growing emerging economies.
Oil explorer’s bid in chaos
A £20m bid by Aim-listed oil tiddler Tangiers Petroleum for an Australian rival has been plunged into chaos after rebel shareholders forced two of its three directors off the board. The deal would have merged the firm with Jacka Resources, but is now in disarray.
THE WALL STREET JOURNAL
Ukraine’s currency in free fall
Ukraine’s currency slumped to its lowest level in five years Wednesday, adding to pressure to resolve a political crisis. The US dollar was quoted above nine against the hryvnia for the first time since 2009, with Ukraine’s national currency going from steady decline into free fall.
Scientists warn on bird-flu strain
Even as authorities cautiously watch one strain of avian flu making its way through China, scientists are warning that another can now infect humans and requires close scrutiny.The Lancet medical journal said in a study published yesterday that a strain of the H10N8 avian flu had mutated and can now be carried by humans.