News digest 9 November 2010
The digest starts with a review of support
to Twinings as an outrageous transfer gathers pace, there’s less
trouble for Rolls-Royce as shares bounce back following an update
on engine issues and even new orders for A380s from Japan. Lord
Hesketh is squeezed out over his defence gaffe, while Trident costs
rise again, teachers are being targeted by the Con-Dems while
financial support for adult education faces the axe, Rok goes bust,
the Royal Mail could be fattened up for sale while in the world of
politics Woolas keeps his seat for now and Cameron adds more image
consultants to the civil service payroll...
Twinings tarnished – The
FT (p4) reports on Twinings’
transfer to Poland with Brussels due to review a €12 million grant
over concerns that the funds have been used for relocation purposes
not new investment. The company has made staff employed at its
North Shields factory (which is in the process of being shut down)
train Polish workers in the use of machinery which is being
transferred to the Polish site in Swarzedz, sounds like relocation
to me…
Qantas planes remain grounded
– Australian airline is to keep its fleet of six A380s grounded
over jet engine failures, but Rolls-Royce shares bounce back as the
engine maker says the two serious faults connecting the jet engine
failures were not connected. There’s a more in-depth look at the
company in the Mail (p69)
and overall Rolls-Royce has won orders for some £20 billion worth
of Trent engines to date (Sun p48, Indie p21, Guardian p29, FT p1)
Skymark to buy A380 jets –
Battle to break into Japanese market boosted as Japanese budget
airline agrees to buy four Airbus A380s in $2 billion deal
(FT p24).
Super satellites – And the UK
space industry has defied the recession seeing growth of 10 per
cent as demand for satellite broadcasting, telecoms and navigation
soars. The industry is worth some £7.5 billion and employs some
24,900 people (Indie
p19, FT p4).
Steward struck – But not all
good news in the skies as a packed Thomson Airways flight diverted
after drunken women went berserk (Sun p17).
Fines expected - A couple of
papers note that today is when the fine for cargo price fixing is
due to be announced (Times p47, Indie p38).
Hesketh quits – On the seas
Navy carrier boss quits over ‘disaster’ jibe. Lord Hesketh gives up
his post at Babcock International, the company building the new
aircraft carriers, after saying project would make UK a laughing
stock (Mail p19, FT p20).
Extra Trident costs – The
four year delay to the replacement of Trident nuclear deterrent –
part of the Conservative’s deal with the Lib Dems - is expected to
cost £1.4 billion more for maintenance (Guardian p10).
Chrysler races ahead - From
the seas to the roads and good news for Chrysler which expected to
see full year profits close to $700 million, it is just 16 months
since the firm exited bankruptcy (Indie p37, FT p24).
Crowded trains – But bad news
for rail travellers as targets for more seats for peak time
travellers will be missed according to the public accounts
committee. Expectations are there will be 15 per cent less seats,
but the price of travelling will be 10 per cent more expensive, no
mention of whether people will have to travel on the top of
carriages (Express p19,
Indie p8, Telegraph p6, Morning Star p3).
Lack of action saw hundreds of
hospital deaths – Inquiry begins into Stafford hospital
where an estimated 1,200 patients suffered and many died over a
disaster in hospital care as NHS executives and watchdogs stood by
(Guardian p8, Mirror p12-13, Sun p4).
Teachers’ pay deals to be
published – Teacher qualifications, sickness records and
pay will be published and there is also the threat of ending
national pay bargaining as Gove looks set to let head teachers set
teacher pay levels (Mail
p12, Telegraph p1).
Adult education axed – And
the Telegraph (b3)
reports that the government is to axe funding supporting adult
learning for all aged over 25. From 2013 anyone doing Level 2 or
Level 3 learning will be expected to pay for training themselves,
or ask their employer to help out.
Rok goes bust – And changes
on the housing front see ‘nation’s local builder’ Rok go bust with
some 3,800 construction jobs expected to be lost, although a number
of buyers are circling with Mears expected to be in pole position
(Sun p34, Mail p66, Times p45, Indie p34).
Outsourcing price war in the
offing? - Anglo-Danish outsourcer G4S - which has £600
million worth of government contracts for maintenance,
transportation and security - says it has shaved £10 million from
its current contracts (Mail p66).
Royal Mail fattened up for
sale? – And many papers report on the potential 6p hike in
the cost of posting a letter. The potential 13 per cent rise due
next April is seen by some as a means of sweetening the
government’s sell off (Mirror p49, Mail p24, Times p5, Telegraph p16).
£10 trillion debt time bomb –
And the Guardian (p2) also
warns that a mix of property speculation and City deals could harm
the UK economy for decades as a PWC study says the alarming levels
of personal and corporate debt could be hard to service.
Shell nets £2.1 billion –
Company sells 10 per cent of shares in Australia’s Woodside
Petroleum (Mail p66).
High pay commission to look at
widening pay gap – Inquiry launched into soaring executive
pay, unfortunately it is not a government driven one so may be a
question of all words and no action (Guardian p25).
No more pension talks – Says
BBC head Mark Thompson as journalists stage a work to rule
(Mail p10, Indie p7).
Pension changes – While
Costain realises £7.5 million for its pension scheme after placing
a number of contracts into its pension plan (Mail p66).
Oldham outrage drags
on – But one person who will get a nice pension is
disgraced MP Phil Woolas who was stripped of his seat last week,
although Commons speaker John Bercow delayed calling a by-election
until Woolas’ appeal is heard (Mirror p11, Sun p7, Mail p8, Telegraph p8).
Jobs for the Cons – As
Cameron jets off to bang the drum for trade with China (Express p2), the Telegraph (p1) reports on a row
over ‘vanity staff’ as some 33 aides have been added to the
government payroll on short term contracts, government figures show
26 people have been hired on fixed term contracts including image
consultants, photographers and web gurus, it’s all right for
some…
Edited by Mik
Sabiers
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