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 [...]
Brexit stockpiling helps UK manufacturing hit six-month high January 2, 2019 Manufacturers are in an “edgy mood” despite Brexit stockpiling and other preparations pushing the sector to a six-month high amid concerns of a global slowdown, according to a closely followed measure of industry activity. Businesses stockpiling raw materials and goods at near-record rates to mitigate supply chain disruptions as Britain leaves the EU accounted for [...]
UK foreign investment hits record high as investors shun Brexit fears December 4, 2018 Investment into the UK from foreign companies rose to the highest level ever recorded last year as investors shrug off Brexit worries. The value of the UK’s foreign direct investment (FDI) stocks in 2017 was £1,336.5bn, a rise of £149.2bn since 2016, according to figures published by the Office for National Statistics (ONS). The total, [...]
Manufacturing PMI offers ‘crumb of positive news’ amid lacklustre conditions and Brexit uncertainty December 3, 2018 The UK manufacturing sector offered “a crumb of positive news” this morning as it announced the rate of improvement for business conditions improved slightly in November, but remained relatively subdued as the inflow of new export orders fell further. This month’s IHS Markit/CIPS Purchasing Managers’ Index (PMI) rose to rose to a two-month high of [...]
Private sector growth slows amid ‘lacklustre’ conditions as Brexit uncertainty weighs on firms December 2, 2018 Private sector growth slowed in the quarter to November amid “lacklustre” conditions, with activity relatively stable compared to a rise in previous monthly figures. According to a survey from the Confederation of British Industry (CBI), the balance of firms reporting a rise in output was two per cent in the three months to November, down [...]
Jaguar Land Rover to axe 200 jobs from west Midlands plant amid stalling UK production November 29, 2018 Jaguar Land Rover (JLR) is to cut more jobs at its Solihull plant as a result of moving the production of its Discovery model out of the UK. The company, which already announced that 1,000 agency workers would be laid off in April, said today around 200 more people working at its Lode Land site [...]
Brexit uncertainty drives car manufacturing down nearly 10 per cent, SMMT warns November 29, 2018 Car manufacturing fell by 9.8 per cent in October as global market turbulence and Brexit uncertainty continue to hit the industry. Figures from the Society of Motor Manufacturers and Traders (SMMT) out today show 15,255 fewer cars year-on-year came off production lines last month, marking the fifth consecutive month of decline. The influential trade body [...]
Vauxhall cuts 241 more jobs at Ellesmere Port manufacturing plant in Cheshire November 23, 2018 Car maker Vauxhall is to slash 241 jobs at its Ellesmere Port manufacturing plant by the end of 2019, in a move it claims is “critical” to the competitiveness of the site. Owner Peugeot's (PSA) shares dipped this afternoon as Vauxhall said it planned to reduce headcount without having to utilise compulsory redundancies, instead trying to [...]