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Saturday 9 June 2012

Tesco to lose £1.8m after scrapping used cars - This is Money

Tesco to lose £1.8m after scrapping used cars - This is Money

By Alex Hawkes

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Tesco is facing a 1.8million shortfall on the 4 million it invested into its failed used-cars venture.

A creditors’ report for Auto Online, which traded as Tesco Cars, shows administrators are trying to offload 250 used cars left behind as a result of it collapsing in April.

The remaining car stock is worth 2million, administrators said, while the company’s IT system is likely to fetch another 500,000.

Failed venture: Tesco's online car business lasted only a year

Failed venture: Tesco's online car business lasted only a year

A substantial chunk of the proceeds will go back to Tesco, which had lent the venture 4 million. It also owned 25 per cent of the joint venture.

The online car business lasted only a year. The supermarket giant hoped its brand name  could help open up the online car sales market, which forms only a small percentage of the used-car sales market.

Tesco chief executive Philip Clarke pulled the plug on several peripheral operations in April on the grounds that they were distracting attention from the group’s core business.

Administrators at Grant Thornton said Tesco Cars had struggled because of the poor economic situation and because it was struggling to get its hands on decent second-hand cars.

Tesco launched the venture with car industry veteran Sir Trevor Chinn as chairman. Trade creditors have been left facing losses of just over 250,000 as a result of the collapse.

It is thought that the company will be liquidated.

Tesco declined to comment.


Source: www.thisismoney.co.uk

London 2012: London bus drivers vote to strike over bonuses - BBC News

Bus workers in London have voted to take strike action in a row over their workload during the Olympics.

Nearly 40% of Unite members working for 21 bus companies voted 94% in favour of strike action. No dates have been set.

The union, which is asking for a £500 bonus, says bus workers are the only London transport staff not in line to receive an Olympics bonus payment.

Transport for London (TfL) said bus workers were employed by private firms who set their pay.

Dates for strike action could be announced early next week.

Unite says it expects 800,000 extra passengers to travel on buses during the Games.

It said workers on London Underground, London Overground, Docklands Light Railways, Network Rail and Virgin would all receive between £500 to £900 in extra payments.

In May, a survey of 2,955 London bus and rail passengers commissioned by the union found that 88% were in favour of Olympic bonus pay.

'Completely reprehensible'

Peter Kavanagh, Unite regional secretary for London, said: "It's a disgrace that London's mayor, Boris Johnson, and the bus companies have allowed this dispute to get this far.

"Our members are only asking for an extra £17 a day which will just about buy you a pint of beer and a portion of fish and chips at the Olympics.

"Our members want the Games to be a success but their patience has run out."

Leon Daniels, TfL's managing director of surface transport, said: "I am not surprised that 70% of London's bus drivers did not vote for strike action.

"That is because about 70% of London's local bus services are not affected by the Olympic Games.

"The whole country is really entering into the spirit of the Games and the overwhelming responsible majority are pulling out all the stops to make it a huge success.

"Only Unite appears to want to exploit it by adding a further multimillion-pound burden to the hard-pressed fare-payers and taxpayers of London."

Mr Daniels added that Unite had already negotiated binding deals for pay and conditions with each of the bus companies for this year.

"Attempting to tear up those agreements and get a new one with less than 50 days to go before the Games is completely reprehensible and out of step with every other provider of services in this city this summer."

Are you a bus driver in London? What do you think of strike action? Send us your comments using the form below.


Source: www.bbc.co.uk

Not another one! Brownlees in new London selection row - Daily Mail

By Derek Hunter

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Britain's Olympic build-up was rocked on Saturday by its second selection row in a week.

Two ‘pacemaker’ athletes have been picked for the six-strong triathlon team at the London Games to help the Brownlee brothers, Alistair and Jonny, to an anticipated gold and silver double.

The uproar over the selection of Stuart Hayes and Lucy Hall ahead of better and more experienced athletes follows the furore over taekwondo’s Aaron Cook, who has been overlooked for the British team despite being world No 1.

Controversy: The squad selection has caused a new row

Controversy: The squad selection has caused a new row

Four seasoned triathletes will appear for Team GB at London — world champion Alistair Brownlee, 24, and his world No 2 brother Jonny, 22, in the men’s race, and world champion Helen Jenkins and Vicky Holland in the women’s event.

But Hayes and Hall will fulfil the duties of pacemakers at the expense of better  all-round triathletes Will Clarke, Tim Don, Liz Blatchford and Jodie Stimpson, who were all overlooked. The squad will operate on ‘team orders’ to help the Brownlees and Jenkins get medals.

‘It’s hard because two of those people have basically walked on to an Olympic team,’ said Clarke, 27, who is ranked No 12 in the world. Don, son of former Premier League referee Philip Don, is No 13 while Hayes is ranked No 46.

Clarke added: ‘There’s not any other sport like that, where someone qualifies so easily considering what others like us have been through. We’ve been racing at the top level around the world for years, gaining ranking points, and they’ve walked on to the Olympic team. But I’m still good friends with Stuey and wish him all the best.’

Brothers: Alistair Brownlee (left) and Jonathan Brownlee (right)

Brothers: Alistair Brownlee (left) and Jonathan Brownlee (right)

A report that triathletes, unhappy with the selection policy, had ‘heated words’ with selectors was vindicated when Clarke’s wife, Clare, pointed her followers on Twitter to it and said it was a ‘great summary’ of what had happened during the selection process.

Clarke, who received numerous messages of support at his surprise omission, tweeted: ‘Finally the Team GB Triathlon team has been announced. Gutted to not be part of it but good luck to the guys and bring back some medals.’

The Brownlee brothers finished together in first place at the Blenheim triathlon as Alistair made his comeback from injury. On form, they would be expected to win gold and silver in London, while Jenkins is favourite in the women’s event.

Not selected: Aaron Cook's omission caused a stir

Not selected: Aaron Cook's omission caused a stir

British Triathlon want to maximise their chances, however, hence the inclusion of Hall and Hayes, who are quick swimmers and cyclists and can pace their team-mates before fading.

Hall said: ‘They made it clear that, if I was going to take this place on the team, I would be going as someone to help [Jenkins]. Everyone can’t be happy with the decision. People are always going to be upset. That’s how it is, that’s sport.

‘It’s horrible to think some people don’t get to fulfil their Olympic dreams. I hope they understand why I’m taking this opportunity. It’s a home Olympics. I can’t turn it down.’



Source: www.dailymail.co.uk

London 2012: bus drivers vote to strike during Olympic Games - The Guardian

Thousands of London bus workers have voted to go on strike during the Olympics if they do not receive a bonus of £500.

Members of the Unite union voted for industrial action by a ratio of nine to one. The union is seeking the bonus for the 20,000 bus workers it represents, claiming that other transport workers have been paid a premium for working during the event.

The ballot allows the union to name the date for a strike but they have not yet named a date. Unite said it was giving the bus companies a final opportunity to consider the "landslide" ballot result before announcing possible strike dates early next week.

At least 800,000 extra passengers are predicted to use London's buses during the Olympics.

Unite official Peter Kavanagh said negotiations had been going on for a year.

"Our members are only asking for an extra £17 a day which will just about buy you a pint of beer and a portion of fish and chips at the Olympics. Our members want the Games to be a success but their patience has run out," he said.

"We have given Transport for London and the bus operators almost a year to resolve this issue. Every single London transport worker in London will receive a reward to recognise their major contribution to this historic occasion except for London's bus workers."


Source: www.guardian.co.uk

London 2012: bus workers threaten Olympics strike - Daily Telegraph

At least 800,000 extra passengers are predicted to use London's buses during the Olympics, said Unite.

Peter Kavanagh, regional officer for the union, said: "There are only seven weeks until the Olympics and the whole world is watching London.

"It's a disgrace that London's mayor, Boris Johnson, and the bus companies have allowed this dispute to get this far.

"Our members are only asking for an extra £17 a day which will just about buy you a pint of beer and a portion of fish and chips at the Olympics.

"Our members want the Games to be a success but their patience has run out.

"We have given Transport for London and the bus operators almost a year to resolve this issue.

"Every single London transport worker in London will receive a reward to recognise their major contribution to this historic occasion except for London's bus workers.

"It is time for TfL and the bus companies to consider this landslide vote in favour of strike action and resolve this dispute.

"This dispute could be brought to an end now if the bus companies and TfL have the will to provide the relatively small amount of money compared to the billions being spent on the Games."

Transport for London (TfL) said the union was demanding a £500 "bonus" for each of the 24,000 bus drivers in London for working during the London 2012 Games.

TfL maintains bus drivers are employed by private companies and that their pay and conditions are a matter for those private companies.

Leon Daniels, TfL's managing director of surface transport, said: "I am not surprised that 70% of London's bus drivers did not vote for strike action.

"That is because about 70% of London's local bus services are not affected by the Olympic Games.

"The whole country is really entering into the spirit of the Games and the overwhelming responsible majority are pulling out all the stops to make it a huge success.

"Only Unite appears to want to exploit it by adding a further multi-million pound burden to the hard-pressed farepayers and taxpayers of London.

"We are really disappointed that the Unite leadership is encouraging its members to take this unnecessary strike action.

"Unite has already negotiated binding deals for pay and conditions with each of the London bus companies for this year and those companies are keeping their end of the deal.

"Attempting to tear up those agreements and get a new one with less than 50 days to go before the Games is completely reprehensible and out-of-step with every other provider of services in this city this summer."


Source: www.telegraph.co.uk

London 28 Widnes 24 - The Sun

Kaufusi rumbled over as the hooter sounded at the Stoop and Powell said: “That is the type of win that galvanises you as a group — and I really hope this builds the chemistry of the squad.

“For us to get two late scores shows our resolve and it is great to have something positive rather than negative to focus on.”

Kaufusi bailed out a London side who looked on course for an eighth straight defeat after try doubles from Widnes’ Cameron Phelps and Frank Winterstein.

Phelps touched down after three minutes, with Winterstein levelling things up at the break after home scores from Aussie Craig Gower and Omari Caro.

The Widnes pair struck again after the interval, but London scores from Tony Clubb and Dan Sarginson kept it close before prop Kaufusi’s late show.

Denis Betts, who saw Broncos move above his Vikings in the table, said: “We have to be philosophical about it.

“We won a game in the last minute last week and lost one in the last minute here.

“It would have been great to push ourselves away from the foot of the table but it was not to be.”


Source: www.thesun.co.uk

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