Manufacturing downturn deepens as firms brace for national insurance rise January 2, 2025 Activity in the UK’s manufacturing sector fell to its lowest level in nearly a year, a new survey shows, as businesses brace for the impact of the government’s first Budget. According to S&P’s manufacturing purchasing managers’ index (PMI), factory output, new orders and employment, all fell at accelerated rates in December. This pushed the overall [...]
Harland and Wolff: Deal struck to buy troubled Titanic maker saving 1,000 jobs December 19, 2024 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 [...]
Honda and Nissan merger talks spark UK job fears December 18, 2024 Experts say the UK's unfavourable tax environment and declining automotive sector put it at greater risk as the industry consolidates.
How FTSE 100 giant Rolls-Royce became a ‘true phoenix from the ashes story’ after shares success December 17, 2024 If awards were being handed out for the best performer in the FTSE 100 this year, Rolls-Royce would surely be taking home all the top prizes after cementing its position as the index’s darling. The Derby-headquartered giant started 2024 with a share price of 298p which has since ballooned to a high of 594p, catapulting [...]
Vitabiotics: Turnover nears £200m at vitamins giant run by former Dragons’ Den star Tej Lalvani December 16, 2024 Sales at Vitabiotics, the vitamins giant run by former Dragons’ Den star Tej Lalvani, jumped towards the £200m mark during its latest financial year as its profits also increased. The London-headquartered business has reported sales of £196.4m for 2023, according to accounts filed with Companies House long after the 30 September deadline. The new total [...]
Walkers: Sales jump at Doritos, Monster Munch and Quavers owner December 16, 2024 Sales at the owner of the UK’s favourite crisps brands, Walkers, jumped by more than £60m during its latest financial year, it has been revealed. The Pepsi-owned business, which splits its UK accounts across three firms, has only just revealed its results for 2023, long after the 30 September deadline set by Companies House. Manufacturing [...]
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.