Car production slump continues in May despite factories restarting June 26, 2020 The country’s car manufacturers produced a mere 5,314 vehicles in May as output stalled for the second consecutive month due to coronavirus. New data from the Society of Motor Manufacturers and Traders (SMMT) showed that although two-thirds of the country’s car plants restarted work last month, output was severely curtailed due to social distancing requirements [...]
Ford UK chairman calls for government zero emissions strategy June 23, 2020 The chairman of Ford in the UK has today called on the government to join with the automotive industry in developing a long-term strategy to hit its target of only selling zero emissions vehicles by 2035. Speaking at today’s virtual Society of Motor Manufacturers and Traders (SMMT) summit, Graham Hoare said: “A successful future for [...]
European Union begins Fiat-PSA mega-merger probe June 17, 2020 European Union officials have launched a four-month probe into the $50bn mega-merger between Peugeot owner PSA and Fiat Chrysler (FCA) over competition fears. Antitrust regulators are concerned about the merged entity’s high market share in the lucrative small van sector. Upon completion of the merger, the new Fiat-PSA company will control a third of the [...]
UK Space Agency signs US deal to fuel British spaceports June 17, 2020 British and American government ministers have signed a deal to power up the UK’s spaceports programme and boost tech exports. The UK Space Agency said today the agreement will allow US companies to operate and launch rockets and satellites from British spaceports, as well as support their participation in the UK space sector supply chain. [...]
Fiat-PSA mega-merger faces months-long competition probe June 11, 2020 The $50bn mega-merger between car giants Fiat Chrysler and Peugeot owner PSA is facing a four-month competition probe from European antitrust officials after the companies failed to provide requested concessions. Over the weekend it emerged that the two firms had been warned by the European Union over their combined high market share in small vans. [...]
British Gas owner Centrica to cut 5,000 jobs June 11, 2020 British Gas owner Centrica has said that it will cut 5,000 jobs this year as it seeks to restructure its business model after coronavirus. More than half of the cuts, which account for 20 per cent of its workforce, come from managerial positions. Today’s announcement comes on top of 2018’s plans for 4,000 redundancies by [...]
Bauer to shutter dozens of radio brands in restructuring plan May 27, 2020 Bauer today said it will shut down almost 50 local radio station brands as it restructures its media empire to form the UK’s largest commercial radio network. Earlier this year the company was given regulatory approval for its takeover of 54 regional stations from Celador, Lincs FM, Wireless and UKRD. Bauer today said that most [...]
Rolls-Royce to swing axe at 9,000 employees over coronavirus May 20, 2020 Rolls-Royce warned today it will look to make at least 9,000 workers to cut £1.3bn in annual costs as it copes with the economic downturn from coronavirus. The British engine-maker warned it will swing the axe mostly at staff in its civil aerospace division as it begins consulting unions. That prompted the government to say [...]
The City View podcast: Money laundering and terrorism – compliance in the age of coronavirus May 14, 2020 Christian is joined by Charles Delingpole, founder and CEO of ComplyAdvantage, a compliance and risk management platform using AI and machine learning to keep companies on the right side of the law. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Sanctions, scams and criminal activities all pose huge risks for businesses but how has the pandemic affected [...]
Ford to restart UK car manufacturing at Dagenham and Bridgend May 13, 2020 Ford today announced that it will restart production at its Dagenham and Bridgend plants on 18 May. The vehicle giant said production would restart with social distancing and health and safety protocols in place to limit the risk of coronavirus. The company said it was continuing to build ventilators at Dagenham as part of the [...]