The Times (subscription) reports that wind turbine manufacturer Vestas is cutting 3,000 jobs as a "wind of change blows through the industry". The paper says wind turbine manufacturers globally "have been hit by a triple whammy of overcapacity, rising costs and shrinking demand as cash-strapped governments cut subsidies for wind farms".
The administrators for struggling electricals retailer Comet are preparing for a "fire sale" ahead of store closures, the Guardian reports. The paper says that with no buyer expected to emerge for the whole chain "there is a growing expectation that it will broken up with its best stores cherry-picked by rivals such as Dixons and Staples". The paper adds that "retail insiders" have suggested that some of the retailer’s 236 stores could begin closing as early as next week.
The Guardian also reports that "experts are warning of a wave of public art sales by local authorities" after the London Borough of Tower Hamlets agreed to sell a Henry Moore statue, "donated by the artist on the understanding it would be left permanently on open-air display for the enjoyment of people in a socially deprived area of London". The paper says Lutfur Rahman, the independent mayor of the borough, overruled the recommendation of his councillors that Draped Seated Woman - which could fetch up to £20 million - should not be sold.
The Independent reports that the owners of one of the country's last remaining deep pit mines has announced plans to mothball the operation, with the loss of up to 540 jobs. The paper says the decision to shut the Maltby colliery near Rotherham comes two days after UK Coal took steps towards mothballing another mine in Warwickshire. The paper says the decline in UK coal production looks set to continue, as the UK seeks to comply with EU legislation, introduced in 2001 and designed to reduce carbon emissions.