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 [...]
Toyota defies Brexit blues to produce new model at UK factory March 20, 2019 Toyota has given Britain’s car manufacturing industry a much-needed boost today, announcing it will produce a new model for Suzuki at its plant in Derbyshire. The car will be based on a Toyota Corolla model which is already built at the plant, and comes as part of a wider global partnership announced by the two [...]
Siemens commits to building Goole factory ‘whatever the Brexit outcome’ March 11, 2019 Industrial giant Siemens has confirmed its commitment to building a factory in Goole, east Yorkshire, despite jitters in the manufacturing sector over Brexit. Siemens' head of rolling stock William Wilson told City A.M. that the firm, which won a £1.5bn contract to build Transport for London's (TfL) new Piccadilly Line trains, is "committed to building our [...]
Buckle your seatbelts for the next global recession – the world is not prepared March 5, 2019 A decade on from the global financial crisis, the world economy is not in good health. Britain is paralysed by Brexit uncertainty, the Eurozone – including its seemingly invincible German powerhouse – is stuttering, and China is experiencing its slowest economic growth since 1990. Read more: Eurozone economic confidence falls to fresh two-year low Even [...]
Jaguar Land Rover could announce fresh round of UK investment in early March despite industry turmoil March 2, 2019 Jaguar Land Rover is reportedly planning to buck the trend of car makers fleeing the UK by making a major investment in British advanced manufacturing. The manufacturer, which is owned by Indian firm Tata, reportedly said fresh investment in the UK was imminent, and an announcement could come in early March. Read more: Tata Motors’ [...]
British manufacturing job losses hit six-year high amid Brexit turmoil March 1, 2019 Job losses in Britain’s manufacturing sector hit a six-year high in February, as Brexit uncertainty left the industry’s optimism at a record low, according to a closely followed metric. British manufacturers also continued stockpiling goods at record rates as the prospect of crashing out of the EU without a deal looms ever larger, according to [...]
European manufacturers face worst downturn in nearly six years March 1, 2019 The European manufacturing industry contracted in February for the first time since June 2013, driven in part by the economic turmoil that has gripped Italy and Germany. The two nations’ factory sectors slumped to the worst performance since December 2012 in Germany and May 2013 in Italy, according to the Purchasing Managers’ Index, a closely [...]
DEBATE: Should we slash post-Brexit tariffs on food imports to offer consumers cheaper goods? February 21, 2019 Should we slash post-Brexit tariffs on food imports to offer consumers cheaper goods? Bill Wirtz, policy analyst at the Consumer Choice Center, says YES. Contrary what the protectionists will tell you, tariffs don’t only hurt the country upon which they are imposed. If the government decides to maintain import tariffs on food post-Brexit, it is [...]
South Korean prosecutors raid Hyundai offices after engine defect allegations February 20, 2019 Authorities in South Korea have raided Hyundai offices as part of an investigation into the firm’s handling of vehicle recalls over engine defects, according to local media. Prosecutors searched the firm’s quality division in southern Seoul as part of their probe into whether Hyundai and partner Kia delayed fixing defects that prompted massive recalls in [...]