Wind turbine maker cuts 600 jobs as demand shifts December 11, 2024 A total of 600 jobs have been put at risk of redundancy by wind turbine maker Vestas, it has been confirmed. The business said employees at its Newport plant on the Isle of Wight have been told at least half of its manufacturing operation will be cut amid changing demand for turbine blades. Vestas said [...]
Billionaire Renishaw co-founder Sir David McMurtry dies December 9, 2024 The billionaire co-founder of engineering giant Renishaw has died at the age of 84, it has been announced. Sir David McMurtry founded the Wotton-under-Edge-based company with his former colleague John Deer in 1973 and took it public ten years later. Sir David was awarded a CBE in 1994 and was knighted in 2001. He stepped [...]
Nodor: Darts maker for Luke Humphries sells majority stake to Inflexion December 9, 2024 A majority stake in a family-run company which makes darts used by world champion Luke Humphries has been sold to a private equity firm. Inflexion has invested in Nodor Group, which is behind Winmau boards and Red Dragon darts, for an undisclosed sum. The Bridgend-based company was founded more than 100 years ago and has [...]
Manufacturing activity drops to nine-month low following Budget December 2, 2024 Rob Dobson, director at S&P Global Market Intelligence, said manufacturing was struggling due to a combination of high costs, weak demand and concerns over the economic outlook.
Stellantis: Shares in Vauxhall owner plunge after boss’s shock resignation December 2, 2024 Stellantis last week placed more than 1,000 jobs at risk after announcing plans to close its manufacturing facility in Luton.
Typhoo Tea: How trespassers and losing £120m led to downfall of historic brand November 29, 2024 Despite not making a profit since 2017, the management running Typhoo Tea had still been optimistic for 2024 just months before the historic brand crashed into administration. Writing in its latest accounts, the company’s directors stated they were “excited” for the 2024 financial year, proclaiming that “legacy issues have been largely dealt with and the [...]
Typhoo Tea collapses into administration with over 100 jobs at risk November 28, 2024 Typhoo Tea has collapsed into administration in a move that has put more than 100 jobs at risk. The Bristol-headquartered business has appointed Kroll to oversee the administration process. The move comes after it was revealed earlier in November that Typhoo Tea was on the brink of collapse. A spokesman for Kroll said: “As reported [...]
Aston Martin raises £210m following profit warnings November 27, 2024 Falling demand in China, delivery delays and the wider push into electric vehicles (EVs) have hit Aston Martin shares over the last year.
Vauxhall owner Stellantis puts over 1,100 jobs at risk with plans to shut major factory November 26, 2024 The Dutch carmaker said it would instead consolidate electric van production at Ellesmere port in Cheshire, unveiling a £50m investment.
The government is turning its back on the industries that fuel Britain November 25, 2024 An outsized focus on emerging industries risks marginalising those that have served as the foundation of our economy for decades, writes Salman Amin I think we can all sign up to the government’s mission to grow the UK economy, renew the country’s competitiveness and unlock investment. After all, what business leader wouldn’t? The big question [...]