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Monday newspaper round-up: UK manufacturers, OneWeb, foreign investors

(Sharecast News) - Almost two-thirds of manufacturers in Britain fear blackouts this winter amid the fallout from the energy crisis, according to an industry survey, as concerns grow about government plans to cut financial support for businesses. As the chancellor, Jeremy Hunt, prepares to announce a sharp reduction in industry support, the trade body Make UK said the impact from sky-high energy costs on manufacturers showed no sign of abating. - Guardian British households are only halfway through a two-year cost of living crisis, with average incomes likely to fall by more than £2,000, a leading thinktank has warned. Typical disposable incomes for working-age family households are on track to fall by 3% in this financial year, and by 4% in the year to April 2024, according to the Resolution Foundation. - Guardian

The British satellite champion OneWeb has shut down one of its first test sites in Alaska amid a struggle to compete with Elon Musk's company SpaceX. Taxpayer-backed OneWeb closed the facility following claims by Alaskan telecoms executives that its service was impractical and costly. Other services remain online in the state. - Telegraph

BP plans to build its first solar farm with battery storage on a site in Tiln Farm, Retford, as it prepares to make the technology the norm globally. Nick Boyle, the head of energy giant BP's solar joint venture, says he believes battery storage technology will be widely included as part of solar farms, helping to tackle the problem of intermittent energy. - Telegraph

Three prime ministers, four chancellors and three business secretaries in a year have cost Britain its appeal to foreign investors, say manufacturing bosses. Members of Make UK, the manufacturing trade body, have in previous surveys blamed the impact of Brexit on trade costs and customs barriers. However, it is the government's management of the economy since Britain left the European Union that is now angering industrial leaders. - The Times

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Sunday newspaper round-up: EU tariffs, Begbies Traynor, Burberry's
(Sharecast News) - The US President announced that imports from the EU and Mexico would both be taxed at 30% commencing on 1 August. The announcement was a surprise for both Brussels and the US trade representative, Jamieson Greer, as both believed that they had reached a deal that would be acceptable to both sides. EU trade ministers' previously scheduled Monday meeting will now see them come under pressure to show a "tough" reaction. - Guardian
Friday newspaper round-up: Speciality Steel UK, Canada tariffs, X and Meta
(Sharecast News) - Ministers are considering options to step in to save another major steel plant if its parent company collapses into administration after a key court case next week. The business secretary, Jonathan Reynolds, is understood to be looking at what the government can do to support Speciality Steel UK (SSUK) - part of the Liberty Steel Group owned by Sanjeev Gupta - should it be faced with possible closure after Wednesday's insolvency hearing. - Guardian
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(Sharecast News) - Thames Water paid almost £2.5m to senior managers from an emergency loan that was meant to be used to keep the failing utilities company afloat - and has refused to claw back the payments, newly released documents reveal. The struggling water supplier paid bonuses totalling £2.46m to 21 managers on 30 April. - Guardian
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(Sharecast News) - The London stock market risks "drifting into irrelevance" without government and regulatory reforms, ranging from tax breaks for stock market listings to looser bonus rules for directors, a lobbying group has said. The 20 recommendation put forward by the Confederation of British Industry (CBI), which lobbies on behalf of UK businesses, suggest financial incentives, marketing campaigns and boardroom pay are central to guaranteeing the future success of the London Stock Exchange, which has been losing stock market listings and floats to foreign rivals. - Guardian

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