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Manufacturing
UK Manufacturing Sector Shrinks as Budget Fallout Intensifies
British factory leaders are drastically revising their investment strategies following Rachel Reeves's Budget announcement, as the Chancellor's £40bn tax measures send ripples of uncertainty through industrial supply chains.
The latest…
Manufacturing Crisis Deepens Across Europe as UK and Eurozone Face Significant Decline
European manufacturing sectors are experiencing a severe downturn, with both the UK and Eurozone reporting concerning figures for November. The manufacturing PMI in the UK plummeted to a nine-month low of 48, marking a significant drop from…
UK Manufacturing Sector Hits Nine Month Low as Economic Pressures Mount
British manufacturing output contracted at its sharpest rate in nearly a year during November, highlighting deepening challenges within the sector as it navigates increased taxation and potential trade disruptions.
The S&P Global…
Economic Powerhouses Falter as UK and Germany Face Similar Growth Challenges
Recent economic data reveals both Germany and the UK are grappling with significant growth challenges, positioning them at the bottom of the G7 economic performance rankings. Germany's cumulative growth since Q4 2019 stands at a mere 0.2%,…
Stellantis Chief Executive Carlos Tavares Steps Down Amid Profit Slump
The automotive industry was jolted yesterday as Carlos Tavares, chief executive of Stellantis, abruptly resigned following a significant decline in the carmaker's financial performance. The world's fourth-largest automotive manufacturer,…
Princess Yachts Navigates Through Financial Storms To Calmer Waters
Plymouth's prestigious boat builder, Princess Yachts, has emerged from challenging financial waters with renewed optimism under fresh ownership. The British superyacht manufacturer, specialising in luxury vessels priced up to £12 million,…
Ford to Axe 800 UK Jobs in Latest European Restructuring Drive
Ford Motor Company has announced plans to cut 800 jobs across its UK operations, representing 15 per cent of its remaining 5,100-strong British workforce. The move comes merely 18 months after the American automotive giant reduced its UK…
Hornby Model Train Maker Posts Wider Losses Despite Rising Sales as Turnaround Plan Takes Shape
British model train and hobby specialist Hornby has reported deepening losses in its half-year results, despite implementing significant restructuring efforts and experiencing revenue growth. The company's shares tumbled 15.4 per cent to…
European Battery Giant Northvolt Seeks US Bankruptcy Protection in Dramatic Turn
Swedish battery manufacturer Northvolt has filed for Chapter 11 bankruptcy protection in the United States, marking a significant setback for European ambitions to challenge Asian dominance in the electric vehicle battery sector.
The…
UK Government Stands Firm on Electric Vehicle Sales Mandate Despite Industry Pressure
The British government appears poised to reject appeals from electric vehicle manufacturers seeking relief from hefty fines linked to missed sales targets through 2026. This stance comes amid warnings from the automotive sector about…
Britain Prepares to Ease Electric Vehicle Sales Rules as Industry Faces Crisis
The UK government is poised to modify regulations governing the electric vehicle (EV) market amid mounting pressure from manufacturers claiming current sales quotas are pushing the industry towards a breaking point. Transport Secretary…
British Steel Confirms Extended Operations at Scunthorpe Beyond Christmas Period Despite Industry…
British Steel has announced its commitment to maintain blast furnace operations at its Scunthorpe facility beyond the Christmas period, marking a significant development in ongoing discussions regarding government support for…
Continental Cuts Sales Forecast Again as European Tyre Demand Slumps
German automotive supplier Continental has reduced its sales guidance for the second time this year, citing weakening tyre demand across Europe and North America. The Hanover-based manufacturer now projects sales between €39.5 billion and…
Aston Martin Burns Through 1 Million Pounds Daily as Production Targets Fall Short
British luxury automaker Aston Martin Lagonda continues to face significant operational challenges, with the company reporting persistent losses and declining performance across key metrics. The iconic manufacturer is currently consuming…
Boeing wants to raise another $19bn from investors
Boeing, the struggling American aircraft manufacturer, has asked investors to inject about $19 billion in order to boost its balance sheet, and to protect its investment grade credit rating from falling to junk status.
After reporting a…
Mondi completes €634m deal with German rival
Mondi, a FTSE 100 packaging company that failed in its bid to acquire UK rival DS Smith has acquired a German competitor.
It has acquired western European assets from Schumacher Packaging. This family-run company is based in Germany’s…
Businesses say that budget uncertainty is impacting the UK economy.
Two separate surveys of businesspeople indicate that uncertainty ahead of Labour's first Budget since 2010 next Month is impacting the UK economy. S&P Global, a data company, said that the UK private sector growth in September slowed…
US tech giant Intel halts construction of €30bn German Microchip Factory
Intel has cancelled plans to build a €30bn microchip plant in Germany, a blow for Europe's technological plans. The US chipmaking company said that it would postpone construction of a site in Magdeburg for around two years and also a…