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 [...]
Honda: What’s really hurting car manufacturers? February 19, 2019 Business secretary Greg Clark yesterday took a stand for Britain’s car manufacturers, saying Honda’s move to close its Swindon factory shows the urgent need to strike a Brexit deal. “Decisions like Honda’s this morning demonstrate starkly how much is at stake,” he said. “A situation in which our manufacturers do not have the certainty they [...]
Honda to close Swindon factory in ‘devastating’ blow to Britain’s car industry, putting 3,500 jobs at risk February 18, 2019 Honda is gearing up to announce the closure of its Swindon factory, plunging 3,500 jobs into uncertainty, according to a local MP. The Japanese car manufacturer will close its only factory in the EU in 2022, delivering a serious blow to Britain’s already ailing car manufacturing industry. The decision was first reported by Sky News. [...]
Should investors be worried about a EU turn in the Eurozone’s economic prospects? February 12, 2019 As the Eurozone’s largest economy, Germany usually acts as a bellwether for the rest of the bloc. So the European Commission’s decision to downgrade the country’s growth forecasts last Thursday is a worrying sign for the other euro nations. Expectations for GDP growth in Germany were cut to 1.1 per cent for 2019, down from the [...]
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 [...]