Slamming on the brakes: Chinese car sales suffer steepest ever annual decline June 12, 2019 The Chinese car market suffered its largest ever monthly sales drop in May, bolstering concerns around the country’s economic slowdown. Sales fell 16.4 per cent last month compared to the same period last year, said the China Association of Automobile Manufacturers (CAAM). The drop is the 11th straight month of decline, after falls of 14.6 [...]
A road less travelled: British car industry troubles run far deeper than Brexit June 11, 2019 The dust has settled. Bridgend’s male voice choir has sung in protest at Ford’s Essex headquarters. And back in their south Wales hometown, the US car maker’s 1,700 factory workers returned to work yesterday for the first time since they learnt of their impending redundancy. But before they had even stopped for lunch, the Office [...]
Meet Blenheim Forge, the blacksmiths supplying quality kitchen knives to London’s top chefs June 10, 2019 TUCKED away in a railway arch beneath Peckham train station lies a workshop. Here, the blacksmiths of Blenheim Forge toil away making kitchen knives. But these are not just any old blades. These are handcrafted Japanese-style knives – and the cheapest model starts at £160. There’s no better endorsement for a product than knowing who [...]
Public inquiry will probe Greybull’s role in collapse of British Steel June 9, 2019 MPs will quiz one of British Steel’s former owners on the firm’s collapse later this month, after they launched an inquiry into the troubled industry this weekend. The Business, Energy and Industrial Strategy committee will examine the role private equity firm Greybull Capital had in the industrial giant’s demise. The announcement comes less than a [...]
New car market misfires as confusion over government policy and incentives dents demand June 5, 2019 Rule changes to government policy and automotive grants caused hybrid and diesel car sales to plummet in May. Overall new car sales fell 4.6 per cent year-on-year to just 183,724 units. The figures come from the Society of Motor Manufacturers and Traders (SMMT). Read more: Car sales fall as removal of subsidies takes its toll [...]
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 [...]