News digest 14 July 2011
The digest starts with a food driven
theme as workers demand a share of the profits before mixed
messages on unemployment figures which see a fall but continue to
worsen for women. As people struggle to pay the bills the OBR
demands higher taxes and lower spending, senior civil servants get
a bonus while gold hits a new high and the government is again
challenged over Bombardier, Stelios is to told to shut up and while
prison places are under pressure could collars be felt at News
International…
Sainsbury’s pay protest –
Staff from the supermarket giant staged a protest over pay freezes
outside the company’s AGM yesterday as they called on the company
to pay a living wage to 12,000 workers who will not see a rise even
though the company made £665 million in profits last year (Mirror p51, Mail p67, Guardian p25, FT p17, Morning Star p5, Unite
release)
Song and dance at M&S –
Continuing the day of action Unite members who work for Thanet
Earth - which suppliers many of the major supermarkets - also
staged a protest at the Marks & Spencer AGM. They were calling
on M&S to demand that Thanet Earth meets ethical standards
after workers complaints over poor treatment and low pay. The
company saw sales rise by 1.7 per cent in the last quarter
(Mirror p51, Sun p45, Express p50, Mail p11/65, Indie p32, Guardian p25, Telegraph b1, FT p18, Morning Star p5).
Thornton’s
meltdown – Sales are melting away at the chocolate maker
slumping by eight per cent to £20.6 million in the eight weeks to
June as shoppers steer clear of little luxuries as the financial
squeeze tightens (Mirror p51, Express p50, Mail p67, Indie p32, FT p17).
Clarke leaves Cadbury – The
Telegraph (b2) reports
Michael Clarke, president of Kraft Foods Europe, will leave the
company next month, he will be replaced by the senior vice
president of Kraft’s global chocolate division, Timothy Cofer.
Wetherspoons widens coverage
– The Mail (p67) reports
that after opening in the morning – for the coffee and breakfast
market – pub group JD Wetherspoons saw total sales improve by 7.1
per cent, the company also expects to report a healthy 9.5 per cent
profit margin for the second half of the year.
Unemployment dips – And
although unemployment sees a slight fall to 2.45 million, the
underlying figures show greater pressures. Unite general secretary
Len McCluskey said: "When you look behind the headline
figures, record numbers of people are in insecure, part-time work
and women's employment prospects have gone back 15 years to the
dying days of the last Tory government.” (Mirror p6, Sun p10, Express p11, Mail p1, Times p43, Guardian p24, Telegraph b3, FT p4, Morning Star p4)
Six million struggle to pay the
bills – Coalition cuts starting to bite more strongly. The
Mirror (p6) and Telegraph (p12) both highlight
how government cuts are driving people into deeper debt.
More taxes and less spending
– Osborne’s new Office of Budget Responsibility says that if the
state is to afford current spending it will have to tax more and
instead calls for cuts in spending, targeting the NHS, as well as
more tax rises, didn’t take long for new director Robert Chote to
go native… (Sun p4, Express p31, Mail p2/12, Times p5, Indie p11, Guardian p24, Telegraph p12, FT p4).
Bonuses for senior civil
servants – It’s all right for some as the Telegraph (p1) reports that more
than 1,000 senior civil servants are on target to receive bonuses
of up to £20,000 in the next few weeks.
Gold hits high – Perhaps they
can buy some gold with their earnings, fear in the markets sees
gold hit a record high of $1,587.46 (Sun p45, Express p50, Mail p65, Indie p10, Guardian p27, Telegraph b1, FT p32).
In search of oil – And then
there’s black gold as BP says it will invest £3 billion in new
fields in the North Sea despite Osborne’s grab for oil revenues
(Express p51, Mail p65, Times p38-39, Guardian p26, Telegraph b4, FT p19, Morning Star p5).
In search of credit – As
credit rating agency Fitch writes off the Greek economy the
eurozone continues to be buffeted by fears of the contagion
spreading, Fitch did however back Italy, while Germany is trying to
slow eurozone countries rushing towards a new rescue deal (Sun p45, Mail p12, Indie p2, Guardian p27, Telegraph b1, FT p1/6).
QE3 – Not a new ship or
sovereign but after fears that the US may be facing greater
pressures the head of the Federal Reserve is considering a third
round of quantitative easing to try and stimulate the faltering US
economy (Times p37,
Telegraph b1, FT p8).
Banks respond to banking
reforms – All the main banks have responded to the
consultation by the Independent Commission on Banking, the general
thrust is they are critical of the proposed changes, go figure
(Times p42, Indie p30, Guardian p26, Telegraph b10).
Southampton council
besieged - From the bodies that caused the crisis to the
people being hit by it and the Morning Star (p5) reports
on council staff demonstrating outside the meeting of full council
yesterday as they challenge the leadership over pay cuts and
enforced changes to terms and conditions.
Government challenged over
Bombardier – And Cameron is to consider looking at EU
procurement rules, but it may be too late for Bombardier. Diana
Holland, Unite assistant general secretary, said: "It
was an astonishing admission that the government did not assess the
social and economic impact of excluding Bombardier from the
Thameslink contract. At a time when our economy is so fragile you
would think this government would be doing some joined up thinking
to support jobs.” (Express p15, Guardian p26, Telegraph b3, Morning Star p3, Unite
release)
Ryanair challenged over
checks – The Times (p47) reports the airline
falls foul of Spanish law after demanding that children travel with
passports when local rules state a Family Record Book will
suffice.
Stelios told to shut it – And
the easyJet founder has restarted his war of words with the
airline’s management complaining about the fleet and purchase of
Airbus aircraft (Sun p45,
Mail p66, Times p51, Indie p34, Guardian p26, Telegraph b2, FT p19).
Alstom action allowed – The
prosecution into bribery at Alstom can now move ahead after two
senior executives lost a legal challenge over evidence yesterday
(Times p47, Telegraph b2, FT p4).
Two jails to shut – As the
Morning Star (p1)
highlights the police will join in the fight against the cuts there
will be less places for convicted criminals after the justice
secretary not only announced a wholesale privatisation of jails -
eight are up for sale – but that two will close even though Britain
has a record total of prisoners, very joined up thinking (Sun p2, Times p18, Indie p2, Guardian p9, FT p4).
Sky bid off – And there could
be a few more prisoners on the way as the fall out from the hacking
continues. News International has now withdrawn its bid while
Cameron came out fighting at PMQs yesterday, but it was too little
and too late in both cases. Pressure is now mounting on James
Murdoch, but Rebekah’s hanging in there (Mirror p1/8-9, Sun p9, Express p4-5, Mail p6-9, Times p1/8-11, Indie p1/4-8, Guardian p1-7, Telegraph p1/4-6, FT p1-3, Morning Star p3).
Edited by Mik
Sabiers
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