Car industry faces ‘fight of our generation’ to avoid breakdown, says trade group boss November 26, 2019 Britain’s car industry is locked in the “fight of our generation” to preserve the once-thriving sector, according to one of the UK’s most senior automotive bosses. George Gillespie, the president of influential trade group the Society of Motor Manufacturers and Traders (SMMT), warned an annual gathering of industry chiefs that investment could dwindle to levels [...]
Electric dreams: How long until electric cars go mainstream in the UK? November 26, 2019 Visitors to the picturesque Whitby Bay beach in north Yorkshire were in for a shock earlier this month, when they encountered two giant footprints etched into the sand. The left was half the length of a football pitch, at 50 metres – the right was just 3.5 metres long. The reason? A publicity stunt by [...]
US car giant General Motors sues Fiat Chrysler over union ‘bribes’ November 20, 2019 Two giants of the global automotive industry have come to blows this afternoon, with General Motors suing Fiat Chrysler of bribing US automotive workers to get better terms in strike negotiations. The US firm has filed a racketeering lawsuit against Fiat and its former executives, “intended to hold FCA accountable for the harm its actions [...]
‘Shock’ as Tata Steel announces 3,000 European job cuts, with effects on UK workers unclear November 19, 2019 Unions have called for clarity from Tata Steel over its plans to cut 3,000 jobs in Europe, amid fears the announcement could affect its workers in Port Talbort, south Wales. Tata announced the job losses, which equate to about one-sixth of its workforce, on Tuesday night, as the steelmaker flights plunging profit after a failed [...]
Airbus announces mammoth Middle Eastern jet orders worth more than $30bn November 18, 2019 Airbus has announced orders for more than 170 planes this morning, in a mammoth set of deals valued at more than $30bn at list prices. Air Arabia, a low-cost Emirati carrier has ordered 120 narrow-body planes including the A320neo and A321 XLR models, while Dubai government airline Emirates placed an order for 50 of the [...]
Boeing receives vote of confidence in 737 Max from Turkish airline Sun Express with $1.2bn order November 18, 2019 The annual Dubai air show kicked off this week with billions of pounds-worth of aircraft deals, including a substantial order for 10 Boeing 737 Max jets which remain grounded worldwide after two fatal crashes. Turkish airline Sun Express, which already has 32 of the planes on order, put its faith in the under-fire US manufacturer [...]
Number of manufacturing companies going bust at highest level in five years November 18, 2019 The number of manufacturing businesses entering insolvency has reached its highest level in five years in the last 12 months, rising 7 per cent to 1,466 from 1,373 in the previous year. Research from global accountancy firm Moore found that a combination of uncertainty over Brexit and a slowdown across Europe was responsible for the [...]
Daimler to cut thousands of managers to pay for electric cars November 14, 2019 Daimler, the maker of Mercedes-Benz cars, will cut a tenth of all its manager-level workers across the globe, in a bid to slash €1.4bn worth of personnel costs. The German manufacturer said this morning the cuts came as its profit would fall significantly over the next two years because of the shift to electric vehicles. [...]
Qinetiq maintains full year outlook as it increases US presence November 14, 2019 Defence and security company Qinetiq maintained its guidance for the full financial year this morning, as it announced that its US presence would increase to around 25 per cent of group revenue. Read more: Qinetiq on track to make £106m proft target The figures Underlying operating profit rose 16 per cent in Qinetiq’s half year [...]
Meggitt boosts 2019 guidance after strong defence performance but warns 737 Max ban will squeeze margins November 12, 2019 Aerospace engineers Meggitt raised their full year guidance on the back of the company’s third quarter results, which saw overall revenue growth of 11 per cent. The results, which the group described as “stronger than previously expected”, have prompted the Bournemouth-based company to raise guidance to six to seven per cent, up from four to [...]