Nissan: UK taxpayers to guarantee £1bn loan amid Sunderland plant uncertainty Business The UK taxpayer is to guarantee a £1bn loan to Nissan as part of a major restructuring of the struggling carmaker. The Japanese firm announced plans earlier this month to axe 20,000 jobs globally and shut down seven factories. Confirmation of the restructuring piled uncertainty onto the future of its Sunderland facility, which is the [...]
Harland & Wolff: Over 1,000 jobs saved at Titanic builder after £70m rescue deal completes Business A deal to save troubled shipbuilder Harland & Wolff, which crashed into administration owing more than £160m last year, has been completed. The acquisition, first announced in December 2024, will save over 1,000 jobs. Spain-headquartered Navantia has acquired the business and assets of Harland & Wolff Group, which include all four operating yards in Belfast, Appledore, Methil [...]
Harland and Wolff: Deal struck to buy troubled Titanic maker saving 1,000 jobs Business Troubled shipbuilder Harland and Wolff, which crashed into administration owing more than £160m earlier this year, has been saved. Spanish state-owned business Navanti has struck a deal to buy the Belfast-based company in a move which will secure 1,000 jobs at Harland and Wolff’s four shipyards – one in Belfast, two in Scotland (Methil on [...]
Huge debts at Titanic shipbuilder Harland & Wolff revealed October 31, 2024 Titanic shipbuilder Harland & Wolff owed more than £160m when it collapsed into administration last month, it has been revealed. Teneo was appointed to oversee the process at the 162-year-old holding company in September while its subsidiary firms, including its prized Belfast shipyard, will continue to trade under the control of the directors. Now a [...]
Harland & Wolff: Spanish rival nears deal to buy Titanic shipbuilder October 13, 2024 Spanish state-owned shipbuilder Navantia is reportedly closing in on a deal to buy Titanic maker Harland & Wolff out of administration.
Harland & Wolff: Titanic shipbuilder calls in administrators September 27, 2024 Historic Titanic shipbuilder Harland and Wolff has called in administrators and said it was preparing to cut jobs today after falling into insolvency for the second time in five years. The administration process is confined to the 162-year-old holding company while its subsidiary firms, including its prized Belfast shipyard, will continue to trade under the [...]
Harland & Wolff: Titanic shipbuilder to enter administration as job losses loom September 16, 2024 The Aim-listed shipyard said steps were now underway to reduce headcount in its "non-core" and certain "central support areas."
Harland & Wolff to meet with shareholders as administration risk looms September 16, 2024 Troubled shipbuilder Harland & Wolff is planning to meet with shareholders this Thursday following reports that the firm could fall into administration as soon as this week, City A.M. understands.
Titanic maker Harland and Wolff’s finance chief leaves company September 11, 2024 The Belfast-based shipyard gave almost no detail in a statement on the London Stock Exchange, but that Raman "had resigned with immediate effect."
The state is bad at picking winners. GB Energy will prove that August 19, 2024 GB Energy is likely to prove to be another example of how the state can't pick winners, writes Eliot Wilson.