Business News in Brief
Cheats
Train companies have taken £172million ($F494m) from taxpayer-funded Network Rail as compensation for delays but have paid out just a fraction of that — £10m ($F28.7m) — to passengers, a rail workers union has claimed. The Transport Salaried Staffs Association (TSSA) branded the system for compensating operators 'daylight robbery' and called on MPs from the Transport Select Committee to examine the difference between payments to operators following delays and the arrangements in place to repay passengers who suffer disrupted journeys. The union claims operators are sitting on a net gain of more than £150m ($F431m) this year alone from the apparent discrepancy between the two systems. n DAILYMAIL.CO.UK
Weak output
Japan's industrial output fell more than expected in August, as cars and electronics suffered from weak global demand. Output fell by 1.3 per cent from the previous month, and by 4.3 per cent compared to a year earlier, official data showed. Analysts were expecting a 0.4 per cent drop. The fall in industrial output in July was revised down to 1.0 per cent. Analysts said the drop in exports to China was most worrying. China is Japan's biggest export market. n BBC.CO.UK
Electric cars
Electric cars might pollute much more than petrol or diesel-powered cars, according to new research. The Norwegian University of Science and Technology study found greenhouse gas emissions rose dramatically if coal was used to produce the electricity. Electric car factories also emitted more toxic waste than conventional car factories, their report in the Journal of Industrial Ecology said. However, in some cases electric cars still made sense, the researchers said. n BBC.CO.UK
Greek cuts
Greek finance minister Yannis Stournaras says the three parties in the country's governing coalition have reached a "basic agreement" on the austerity package for 2013-14. The measures are likely to be presented to Greece's international lenders on Monday before going before parliament. The cuts are necessary if Greece is to continue receiving bailout funds. Earlier, Greece announced plans to sell most of its 34 per cent stake in the gaming monopoly Opap. n BBC.CO.UK
Old tricks
Debit and credit card fraud has increased as con-artists turn to unsophisticated snatching and Pin theft, an industry body has said. Total losses on UK cards hit £185m ($F529m) in the first six months of the year, a 9 per cent rise on first half of 2011, the UK Cards Association said. Fraudsters distract consumers in shops and at cash machines to steal cards. Another scam involves tricking cardholders out of their Pin by calling in the guise of their bank. n BBC.CO.UK