In the News...

ARK ROYAL AXED

The Royal Navy's flagship, the aircraft carrier Ark Royal, is to be scrapped early as part of the government's defence review.

The UK's Harrier jump jets will be axed, the money saved going towards the cost of two new aircraft carriers.

It means that, until at least 2019, Britain will not have the ability to launch fighter jets at sea.
David Cameron is due to unveil more details of the first strategic defence and security review in 12 years.

HOUSING BUDGET SLASHED

The social housing budget in England is to be cut by more than 50% in the Spending Review.
Council housing "for life" will also be phased out, with the needs of new council tenants assessed over time.

Despite the cuts, ministers are likely to set a target of building 150,000 affordable homes, changing the way councils charge rent to finance them.

Tenants will be charged nearer the going market rate, to release cash for the building programme.

GERMAN CHUNNEL LINK

German train operator Deutsche Bahn says it will run direct services from London to Frankfurt and Amsterdam from 2013.

A train similar to the ones to be used will be displayed at London St Pancras station on Tuesday.
Three services will run daily, and will also serve Brussels, Cologne and Rotterdam.

DB must get approval for its trains from safety authorities before services can run but is confident of doing so.

FRANCE IN NEW STRIKES

France is braced for new disruption as a sixth national day of protest begins over plans to reform the country's pension system.

Strikes and mass marches will coincide with an ongoing blockade of oil refineries that hit supplies.

The government wants to raise the retirement age from 60 to 62 and the full state pension age from 65 to 67.

President Nicolas Sarkozy insists he will press ahead with pension reforms despite the growing strike movement.


Source: BBC Business News