Skip to content 
Search

Latest Stories

Jaguar Land Rover starts Brexit closure amid weak global sales

Jaguar Land Rover has started its week long closure of its production plants today (8) amid a decline in global sales. 

The Tata Motors owned firm’s four major production plants in Castle Bromwich, Solihull, and Wolverhampton in the West Midlands, and Halewood in Merseyside will remain shut until Friday (12).


The four plants owned by the Indian conglomerate employ 18,500 people. 

This week’s closure follows the usual Easter break, which starts from next week and ends on April 23.

The move to stall the production temporarily was agreed with employees of the Britain’s biggest car producer in January to prepare for a potential Brexit disruption, when the scheduled date for Brexit was March 29.

JLR will pay the salaries of its workers during the production shutdown. However, the employees have to make up hours in the future.

The automaker has also said Brexit without a deal would cost it over £1.2 billion in profit each year.

Britiain’s biggest automaker has already started axing 4,500 jobs globally, mainly affecting management roles in the UK. 

The plant shutdowns started when the automaker announced its full year retail sales figures. 

Globally, JLR sold 578,915 vehicles in 2018-19, a fall of 5.8 per cent when compared to the previous year, amid sluggish demand from China.

Retail sales of JLR vehicles in China fell 34.1 per cent reflecting weaker economic conditions. 

Jaguar Land Rover chief commercial officer Felix Brautigam said: “Clearly, we were disappointed by the lower sales in China. 

"However, together with our retailers we decided not to push sales ‘at any cost’ to ensure that our brands remain desirable. 

“Mid-term we remain optimistic about the region, particularly as we are starting to see results of our local turnaround strategy, with retails expected to stabilise in the next few months and grow thereafter."

More For You

LET Mining: The world's leading cloud mining platform, the best way to earn passive income

LET Mining: The world's leading cloud mining platform, the best way to earn passive income

Today, as the digital economy continues to evolve, passive income is no longer a wealth tool exclusive to the rich, but something that everyone can touch and participate in. With the integration of blockchain technology and green energy, LET Mining is providing global users with a new way of passive income: no operation, zero technical threshold, and daily income.

What is LET Mining?

LET Mining is an innovative cloud mining service platform that simplifies the complex cryptocurrency mining process into a few simple steps through cloud computing technology, allowing ordinary users to easily participate in digital currency mining and obtain stable passive income without purchasing expensive hardware equipment or mastering professional technical knowledge.

Keep ReadingShow less
Bangladesh seeks US deal to shield garment industry from tariffs

Workers are engaged at their sewing stations in a garment factory in Savar, on the outskirts of Dhaka, on April 9, 2025. (Photo by MUNIR UZ ZAMAN/AFP via Getty Images)

Bangladesh seeks US deal to shield garment industry from tariffs

BANGLADESH, the world's second-biggest garment manufacturer, aims to strike a trade deal with the US before Donald Trump's punishing tariffs kick in next week, said the country's top commerce official.

Dhaka is proposing to buy Boeing planes and boost imports of US wheat, cotton and oil in a bid to reduce the trade deficit, which Trump used as the reason for imposing painful levies in his "Liberation Day" announcement.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London.
Getty Images

Bond yields ease following Starmer’s support for Reeves

THE COST of UK government borrowing fell on Thursday, partially reversing the rise seen after Chancellor Rachel Reeves became emotional during Prime Minister’s Questions.

The yield on 10-year government bonds dropped to 4.55 per cent, down from 4.61 per cent the previous day. The pound also recovered slightly to $1.3668 (around £1.00), though it did not regain all its earlier losses.

Keep ReadingShow less
modi-trump-getty
Modi shakes hands with Trump before a meeting at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)
Getty Images

Indian exporters watch closely as Trump says trade deal with India likely

THE US could reach a trade deal with India that would help American companies compete more easily in the Indian market and reduce tariff rates, President Donald Trump said on Tuesday. However, he cast doubt on a similar deal with Japan.

Speaking to reporters on Air Force One, Trump said he believed India was ready to lower trade barriers, potentially paving the way for an agreement that would avoid the 26 per cent tariff rate he had announced on April 2 and paused until July 9.

Keep ReadingShow less