Britain’s economy grows faster than predicted in February April 10, 2019 The UK economy grew by 0.3 per cent in the three months to February, a better-than-expected result as the country counts down to Brexit and faces a weak global economy. Read more: No-deal Brexit could tip UK and EU into recession, IMF says In February Britain’s economy grew by 0.2 per cent, figures released today [...]
No-deal Brexit could tip UK and EU into recession, IMF says April 9, 2019 A no-deal Brexit could see both Britain and the EU slide into a two-year recession in a worst-case scenario, the International Monetary Fund (IMF) has said. Read more: IMF director says majority of countries will see growth slow in 2019 The UK economy will grow by less than previously thought even with a deal, the [...]
British car manufacturing powers down to half capacity as planned factory shutdowns take effect April 8, 2019 British car makers including Jaguar Land Rover (JLR) have gone ahead with plans to shut their UK plants this week over Brexit, in a move which leaves at least half the country’s car production gridlocked. JLR’s Wolverhampton engine plant as well as its three assembly plants in Solihull, Halewood and Castle Bromwich were due to [...]
Manufacturers urge May to revoke Article 50 if Brexit deal cannot be secured April 7, 2019 Manufacturers have urged Prime Minister Theresa May to revoke Article 50 is she cannot secure a Brexit agreement this week amid growing fears the UK could crash out of the EU without a deal. In an open letter to May and Labour leader Jeremy Corbyn, trade body Make UK said the industry had already been [...]
European car makers face €7.4bn bill to meet looming EU emissions rules April 3, 2019 The biggest car manufacturers in Europe are careering towards a €7.4bn crash in profits from the cost of meeting the EU’s emissions rules, UBS has warned. Regulations set to come into effect in 2021 will force car firms such as Volkswagen, BMW and Renault to produce no more than 95g of CO2 per kilometre, but [...]
Ford’s British operations hang in the balance as no-deal Brexit looms large April 2, 2019 Ford has delivered the latest warning for the UK car industry after Brexit, saying it has yet to decide on its longer-term plans in Britain. The second-biggest US car maker said this morning it was already spending tens of millions of euros preparing for a possible no-deal scenario, in which case it would have to [...]
Daimler and Chinese firm Geely team up to manufacture Smart compact city cars March 28, 2019 Daimler is to produce its next wave of Smart model electric cars in China via a joint venture with Chinese car manufacturing giant Geely. Geely took a stake of nearly 10 per cent in the German car maker last year, saying it wanted to create an alliance to make electric and autonomous vehicles (EVs and [...]
Car manufacturing ‘paralysed’ by no-deal Brexit threat as output drops for ninth straight month March 28, 2019 British car manufacturing suffered its ninth consecutive month of decline in February, as the industry continues to suffer from Brexit uncertainty and plummeting demand in China. Car makers produced 123,203 vehicles last month, according to the Society of Motor Manufacturers and Traders (SMMT), a drop of 15.3 per cent on the same period last year. [...]
JCB digs out £65m for sixth Indian factory as manufacturer continues expansion March 26, 2019 British digger manufacturer JCB is to splash out £64m on a new factory in India, its biggest market. The firm, which has been manufacturing in in the country for 40 years, said the new plant would make parts for global production lines. Read more: JCB quits membership of the CBI JCB already has factories in Delhi, [...]
Euro drops as Eurozone manufacturing activity hits six-year low March 22, 2019 The Eurozone’s economy lost momentum again in March as Germany and France's manufacturing sectors struggled to overcome global headwinds, according to a closely-followed indicator. Read more: Wages up across Europe despite gloomy economic climate Manufacturers across the economic area suffered their steepest downturn in seven years this month, the IHS Markit Eurozone composite purchasing managers’ index [...]