Record stockpiling not enough to hide manufacturing slump as cliff-edge Brexit fears heighten February 11, 2019 Output in the manufacturing sector has plunged to its lowest point since October 2017 despite firms ramping up preparations for a no-deal Brexit, according to an industry barometer. BDO’s manufacturing index fell 0.23 points from December to a score of 98.37 in January, its lowest level in 15 months. Read more: UK car industry on [...]
Manufacturers ‘risk recession’ as Brexit stockpiling hits record highs February 1, 2019 Storm clouds are gathering above Britain’s manufacturers, as positive sentiment in the industry fell to a 30-month low in January amid record levels of stockpiling in the run-up to Brexit. Manufacturing activity fell to a three-month low in January, as stocks of purchases rose at a record rate, according to the latest Purchasing Managers' Index [...]
Boeing and Airbus to deliver $4.3bn worth of jets to Japan in deal with airline ANA January 29, 2019 Japanese airline ANA Group confirmed this morning it is to buy 30 aircraft from US manufacturer Boeing and 18 from European competitor Airbus, nudging the latter’s shares up one per cent this morning. The orders from Boeing and Airbus are worth $2.3bn and $1.99bn respectively, according to list prices, but airlines typically get large discounts. [...]
Caterpillar shareholders flee as it predicts China slowdown for 2019 January 28, 2019 Digger manufacturer Caterpillar’s shares were down eight per cent in US trading this afternoon after it announced “modest” sales increases. Sales were hit by weakness in its key Chinese market in the final quarter, causing investors to flee. The figures Adjusted profit-per-share for 2018 was $11.22 (£8.52), up 63 per cent, while revenues were up [...]
Philips to close only UK factory next year with potential loss of more than 400 jobs January 17, 2019 Philips has said it is to close its only UK factory next year, potentially cutting more than 400 jobs as part of a push to reduce its manufacturing sites worldwide. The Dutch company hopes to reduce the number of global sites from 50 to 30. Read more: Philips chief executive warns no-deal Brexit will hit British [...]
Car makers and sellers plead with government for clarity after May’s Brexit deal defeat January 16, 2019 Car makers and dealers have called for clarity on how Britain will leave the EU after MPs resoundingly dismissed Theresa May’s Brexit deal in parliament last night. The 230-vote defeat for May’s deal has cranked up the risk of a no deal scenario according to the EU’s chief negotiator Michel Barnier, a situation believed to [...]
European car sales down for fourth straight month as emissions testing continues applying skids to market January 16, 2019 A fall in Chinese demand and tougher emissions testing continued to put the brakes on European car sales in December, which dropped for the fourth month in a row. New car registrations dropped 8.4 per cent last month, said the European Automobile Manufacturers Association (EAMA), following an eight per cent drop last month. Read more: Off [...]
Manufacturers face worst staff scarcity since 1989 after Brexit leads to exodus of EU workers January 3, 2019 Manufacturers are struggling with the worst drought of workers in 30 years, as fewer EU workers come into the country in the wake of the Brexit vote. Labour shortages in the sector are at their worst since 1989, according to research, with Brexit-related uncertainty partly to blame. A report by the British Chambers of Commerce today [...]
Global stock markets stumble into New Year as investors spooked by economic fears in China and US January 2, 2019 Stock markets staged a recovery this afternoon after economic fears continued to weigh on both the FTSE and Wall Street into 2019 after they recorded 10-year lows in 2018. The FTSE 100 recovered to close 0.04 per cent down after an initial 1.8 per cent fall, and Wall Street also rallied after tumbling as it opened, spooked [...]
Global stock markets and sterling slide as economic slowdown fears continue into new year January 2, 2019 Global markets have started the year in the red as investors struggle to shake off the economic slowdown fears that plagued stocks last year, while the pound has taken a more than one per cent hit against the dollar on the first day of 2019 trading. The FTSE 100 was down more than one per [...]