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 [...]
Government faces calls to safeguard British Steel jobs as company edges closer to administration May 21, 2019 Whitehall officials this morning faced calls to “put their money where their mouth is” by giving British Steel the funding it needs to avoid administration and safeguard tens of thousands of jobs. Read more: Troubled British Steel braces for insolvency in last-ditch loan talks Britain’s second-biggest steel maker has for the last week been lobbying [...]
British Steel ‘grateful’ for government support as it signals it has funds to keep trading May 16, 2019 British Steel has insisted it has the liquidity to keep trading after days of speculation over whether it would receive a government loan needed to keep it afloat. Read more: Thyssenkrupp swings to second quarter loss On Tuesday, it emerged Britain’s second-largest steel manufacturer was looking to Whitehall for a support package, believed to be [...]
US stocks fall as industrial sector contracts for third time in four months May 15, 2019 US industrial production unexpectedly fell for the third time in four months in news that will displease the Trump administration as it wages a trade war on China. Read more: European markets back in red following weak Chinese data Industrial production fell 0.5 percent in April, meaning output declined at an annual rate of 1.9 per [...]