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UK and Malaysia to boost bilateral trade


By Max Clarke Business Secretary, Vince Cable, has signed a series of agreements with Malaysian Prime Minister, Najib Razak, in a bid to boost bilateral trade between the two countries. Four Memoranda of Understanding were signed on Tuesday during Prime Minister Razak’s visit to the UK. “The economies of Britain and Malaysia are... read more


Trade bodies sign partnership agreement on export promotion


By Marcus Leach EEF, the manufacturers’ organisation and UK Trade & Investment (UKTI) have signed a memorandum of understanding to collaborate on the promotion of export services to manufacturing and engineering companies across the UK. The agreement, which lasts for three years, is aimed at working together on initiatives and practical support... read more


European debt crisis hits UK international trade


By Marcus Leach British importers’ and exporters’ confidence has retreated in the UK economy, trading overseas and the prospects of future growth, according to a survey released by Travelex Global Business Payments. The Travelex Confidence Index, a measure of UK trade confidence, dipped two points in June, as the unfolding Greek crisis... read more


Wales' first solar park powers up


By Marcus Leach Wales' first solar park, at the Rhosygilwen estate in Pembrokeshire, is set to start converting sunlight into electricity. A six acre field has been set-up with over 10,000 solar panels that will ensure the park will be onstream three weeks before the UK government lowers the subsidy for large-scale... read more


RMT consider legal action as Bombardier fights for survival


By Marcus Leach The Rail, Maritime and Transport (RMT) Union are considering taking legal action over the decision not to award Bombardier the Thameslink contract. The Derby-based firm lost out on the contract to German-based Siemens, a decision that has seen Bombardier announce the cutting of more than 1,400 jobs. The contract, worth... read more


Manufacturing confidence at a two-year low


By Marcus Leach A survey carried out by accountants BDO suggests that confidence amongst UK manufacturers is at its lowest level for two years. The Business Trends optimism index has fallen gradually this year, going from 116.4 in February, to 97.5 in May to 90.1 last month. The gradual drop could be attributed... read more


Automotive industry key to export-led recovery, says Prisk


By Max Clarke Overseas investment and UK manufacturing remain the two great hopes for the UK recovery. In a parliamentary address to more than 100 delegates from the UK’s automotive industry, Business Minister Mark Prisk praised the thriving car industry, detailing government plans to boost the important sector in order to... read more


1500 jobs to go at Bombardier's Derby plant


By Max Clarke Up to 1500 jobs are set to be lost from Bombardier, the UK's last remaining train manufacturer’s Derby site as a number of contracts draw to a close and are yet to have been replaced. Bombardier recently lost out on a lucrative contract to build trains for Thameslink to... read more


Volkswagen announce majority shareholding in MAN


By Marcus Leach German car manufacturers Volkswagen have announced that they have acquired a 56% majority stake in the German heavy truck maker MAN. The acquisition is a result of a mandatory offer for MAN shares on the Frankfurt stock exchange, and adds the firm to Volkswagen's other truck business, Swedish firm... read more


UK's construction industry slows down in June


By Marcus Leach Figures released today, Monday, showed that growth in the UK's construction industry has slowed down slightly in June. This is in part due to a slower expansion of new orders. The Markit/Cips construction purchasing managers' index (PMI) fell from 54.0 in May to 53.6 in June. Further to that the... read more