Business

Car industry: What’s behind recent closures?

[ad_1] Image copyright Getty Images Honda UK is closing its Swindon plant by 2021, with the loss of about 3,500 jobs. Jaguar Land Rover and Nissan are also cutting production and jobs. So what's going on?Honda is a big lossHonda's Swindon plant is the UK's fourth-largest car factory. Honda Civic hatchbacks are made there. The model was the third most widely produced car in the UK in 2017, according to
Business

Ministers spend £100m on Brexit help

[ad_1] Image copyright Getty Images The government has agreed contracts worth £104m for outside help on Brexit, according to analysis for the BBC.Since the EU referendum, Whitehall has hired companies to do consultancy work to prepare for the UK's EU exit. Companies with the most valuable Brexit contracts include Boston Consulting Group, PWC and Deloitte, according to analysis firm Tussell.Departments drawing on the advice of external specialists was "standard", a
Business

Unlimited holiday: A perk that comes with pitfalls

[ad_1] Image copyright Getty Images Unlimited paid holiday may sound too good to be true but there are fears this new trend could do more harm than good."I'd love to say it was about productivity or ownership or autonomy but the reality is that we… had seen some companies doing it in America and thought 'why not do that ourselves?'"Ben Gately, chief operating officer at software firm CharlieHR, was at
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US and China extend trade talks

[ad_1] Image copyright EPA Image caption Mr Trump said he thought a deal was "more likely" than not Chinese negotiators have agreed to extend their stay in Washington, as the US and China push to strike a trade deal.The decision was the latest sign that the two countries may be nearing an agreement, as they look for a way out of last year's punishing trade war.In a statement shared by
Business

Kraft Heinz shares fall as appetites wane

[ad_1] Image copyright Reuters Image caption Kraft Heinz is one of the world's biggest food companies Kraft Heinz's share price has plunged to a record low amid signs that customer appetite for the company's processed foods is weakening.The US food giant's stock dropped 28% after it reported flat 2018 sales and said it would write down the value of its Kraft and Oscar Mayer brands by $15.4bn (£11.8bn).The firm also
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Honda: Delegation to lobby firm’s Japan HQ against closure

[ad_1] Image copyright Getty Images Image caption Honda's Swindon factory is due to close in 2021 A task group at Swindon Borough Council wants to begin talks with Honda bosses in Japan to convince them not to close down the town's plant.The motion was put forward on Thursday evening to try and save 3,500 jobs. Councillor Oliver Donachie said: "The hope is to go to the board in Japan, look
Business

SFO drops probes into Rolls-Royce and GSK

[ad_1] Image copyright Getty Images The Serious Fraud Office (SFO) has dropped its investigations into aerospace firm Rolls-Royce and drugs giant GlaxoSmithKline.The SFO said there was "either insufficient evidence" or it was "not in the public interest" to continue.Rolls was being investigated over concerns about bribery and corruption, which led the firm to enter into a deferred prosecution agreement in 2017.GSK's probe concerned "commercial practices" at the company. SFO director
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BMW and Daimler invest €1bn in new car venture

[ad_1] Image copyright Getty Images BMW and Daimler have unveiled a joint venture to invest in new-generation services such as driverless vehicles, ride-hailing and parking services.The German firms are investing €1bn (£880m) in the project, which will also look into pay-per-use car schemes.The move comes as traditional manufacturers face competition from mobility services provided by Uber and other technology firms.BMW and Daimler said they were open to buying tech start-ups.Established
Business

Flybe signs Virgin deal despite criticism

[ad_1] Image copyright Getty Images Troubled airline Flybe has agreed a deal to continue operating, despite criticism of the arrangement.Connect Airways, a consortium led by Richard Branson's Virgin Atlantic, paid a total of £2.8m for Flybe's assets and operations.At least one earlier approach for Flybe was rejected.The Exeter-based regional airline put itself up for sale last November, following a profit warning the previous month.Virgin, Stobart Air and Cyrus Capital joined