Greybull Capital ‘to bid for British Steel’s non-UK assets’ June 4, 2019 Greybull Capital, the private equity firm which owned British Steel until it collapsed last month, is reportedly gearing up to bid for the firm’s operations in France and the Netherlands. The move would mean Greybull dispenses with British Steel’s UK business. It bought the firm from Tata Steel for £1 three years ago. Read more: [...]
US manufacturing sector grows at slowest rate in 10 years in May June 3, 2019 The US manufacturing sector grew at its slowest rate since 2009 in May, according to survey data released today, in a sign that the world’s biggest economy is losing momentum. Read more: European stock markets bleed red as Trump takes trade war to Mexico Tariffs were widely blamed for dampening demand and increasing costs, helping [...]
Eurozone manufacturing sector shrinks for fourth straight month June 3, 2019 The Eurozone’s manufacturing downturn continued in May, according to survey data released today, with the sector contracting for the fourth successive month. Read more: Eurozone sees weak growth in May amid stagnant demand Weakness in Germany was once again a major drag on the overall Eurozone’s performance as it registered another marked contraction, today’s IHS [...]
UK manufacturing sector shrinks to 34-month low in May on Brexit woes June 3, 2019 The UK manufacturing sector sharply contracted in May as the Brexit stockpiling boost seen in March continued to unwind, with a major industry gauge today seeing its worst score for 34 months. Read more: UK manufacturing orders slump in May while stocks grow amid Brexit impasse Manufacturers said they found it much harder to convince [...]
British Steel’s collapse under former owner Greybull turns up the heat on Whitehall May 23, 2019 British Steel may have entered insolvency proceedings, but there is some way to go before it can be considered scrap metal. Next week the Official Receiver will hold meetings with MPs to discuss where the company goes from here. The hope, for the 25,000 people whose jobs British Steel supports, is that Whitehall finds a [...]
US private sector output falls to three-year low as trade war bites May 23, 2019 The ongoing trade war with China helped push business activity growth in the US to a three-year low in May, according to widely-watched survey released today. Read more: Chip designer Arm to suspend business with Huawei Output in manufacturing and services was held back by lower demand and subdued growth of new orders, which firms [...]
German manufacturing output falls but services push economy to growth May 23, 2019 Germany’s manufacturing output fell for the fourth month in a row in May as new orders fell, according to the latest IHS Markit survey of the country’s private sector. Read more: Eurozone sees weak growth in May amid stagnant demand May saw the third straight monthly decrease in employment in the manufacturing sector, making the overall [...]
Eurozone economy limps to weak growth in May amid stagnant demand, says survey May 23, 2019 The Eurozone saw subdued business growth in May as demand stagnated, with manufacturing facing the toughest conditions of any sector, according to a new survey. Read more: EU slashes its forecast for German growth as it predicts Eurozone slowdown New export orders fell markedly once again, their eighth successive monthly fall, according to today's widely-watched [...]
British Steel falls into insolvency after government bailout talks fail, in ‘devastating’ blow for 5,000 workers May 22, 2019 British Steel has collapsed into insolvency after the last week of attempts to lobby the government for a £75m cash injection failed. Read more: Troubled British Steel braces for insolvency in last-ditch loan talks The industrial giant – which employs 5,000 people – has been asking the government for an emergency loan designed to save [...]
British Steel talks continue as firm promises staff will be paid for this month May 21, 2019 British Steel is still in talks with the government over a proposed cash injection designed to save it from collapse, business minister Andrew Stephenson said this afternoon. Read more: MPs face calls to save British Steel jobs as it edges closer to collapse The firm, which was today forced to assure that its employees’ salaries [...]