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17/06/2010 - 14:15

UK & USA Today Editoweb 17 June 2010

UK & USA Today Editoweb 17 June 2010 - BP boss Hayward to be grilled by US Congress - England fans arrive in Cape Town - Reaction to regulatory shake-up - UK Car Production Jumps 50% In May -
Retail Industry Boosted By World Cup Fever.

UK & USA Today Editoweb 17 June 2010
BP boss Hayward to be grilled by US Congress
Mr Hayward is expected to tell the Committee on Energy and Commerce that he is "personally devastated" by the disaster. He will add that he understands American anger against him and the company and that "no words will be satisfying" until the leak is stopped. Mr Hayward was among those hauled in for a dressing-down at the White House on Wednesday.(ITN)

England fans arrive in Cape Town
Hostels and hotels were filling up as England's travelling army of supporters descended on the city. Hostels have pumped up the prices for June and July, with a dorm room costing about 300 rand (£27) and a room with a shower in excess of 800 rand (£71) - more than double the normal price.(presse association)

Reaction to regulatory shake-up
We welcome the Chancellor's moves to strengthen the system of banking regulation and to make it clearer and more effective. "In transferring the oversight of banks, insurers and building societies to the Bank of England and putting together the regulation of market conduct and consumer protection, the UK is creating a 'twin peak model' which reflects what is also happening in many other countries. We need strong markets and we have to get consumer protection right." "There are still questions that need to be resolved, such as the relationship between the Monetary Policy Committee and the Financial Policy Committee and how the FPC will be accountable for its actions. Additionally, as there is no equivalent to the MPC interest rate target for financial stability, it will need to exercise considerable judgement over when to intervene."(reuters)

UK Car Production Jumps 50% In May
However, the figures are compared with the same period last year when carmakers such as Honda had temporarily suspended production due to lack of demand. Nikki Rouke from the Society of Motor Manufacturers and Traders (SMMT) told Sky News that although there was an "underlying stability" in the UK car market the industry still faced difficulties.(skynews)

Retail Industry Boosted By World Cup Fever
Sales were up by 0.5% last month, compared to April, and were up 3.4% on the year, according to the Office for National Statistics (ONS). Stores selling household goods had the best month, with sales rising by 1.7% as electrical goods, including televisions, were snapped up by shoppers. The figures come after several retailers were engaged in a World Cup TV price battle,featuring promotions that offered money back for England goals or even a full refund if England lift the trophy.(skynews)

Govt Aim To Help Foster 'Happy Childhoods'
Nick Clegg told Sky News he and David Cameron will jointly lead a Government task force to look at ways of improving family life. The Deputy Prime Minister told Eamonn Holmes on Sunrise: "We want families to be able to have the freedom to live. "The previous government decided to nanny families, and tell them constantly what to do." Mr Clegg said action was required after the 2007 Unicef report which identified Britain as the worst place in the industrialised world for a child to grow up.(skynews)

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