UK steel industry calls for capped energy prices amid Trump trade war

British steelmakers lobby for government to set limit to compete with France and Germany

The British steel industry has called for capped energy prices for heavy industry in order to match France and Germany, as companies grapple with the fallout from Donald Trump’s trade war.

UK Steel, a lobby group, has proposed the government set a maximum price for energy through a contract for difference (CfD), before an announcement of a new steel strategy.

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UK economy shrinks unexpectedly in blow to Rachel Reeves

ONS data showing 0.1% fall in GDP in January comes less than two weeks before chancellor’s spring statement

The UK economy contracted by 0.1% in January, dealing a blow to Rachel Reeves before the spring statement later this month.

In a surprise to City economists, who expected 0.1% growth in January, the Office for National Statistics data showed the services sector failed to offset a decline in the industrial sector and maintain growth from the previous month.

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Record orders at BAE Systems as European defence spending rises

Weapons maker’s full-year pre-tax profits top £3bn and it expects sales of more than £30bn next year

Britain’s biggest weapons manufacturer, BAE Systems, has reported record orders as the European defence industry gears up for increased spending sparked by the Ukraine war.

The company, a member of the FTSE 100, said it expected sales next year to top £30bn, as it reported annual profits before interest and tax of more than £3bn for the first time in 2024.

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Caught in the middle: UK firms brace for fallout from Trump’s global trade war

While UK may not be in direct line of fire, knock-on effects on global trade has British businesses worried

“We’re vulnerable at the moment,” says Fiona Conor, the managing director of Trust Electric Heating, a Leeds-based radiator manufacturer, who has been considering expanding into the US market.

After a predictably unpredictable start to Donald Trump’s second term as US president, Conor is worried her options could be limited, as businesses across the UK brace for a global trade war.

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Tesla takes EU to court over tariffs on EVs made in China

Elon Musk’s company still imports large number of cars into Europe from its Shanghai factory

Tesla has filed a complaint against the European Commission after the imposition of tariffs by the bloc on its Chinese-made electric vehicles.

The EU announced its decision to impose tariffs on all imports of Chinese electric cars in June, alleging that the Chinese government had provided unfair state subsidies to manufacturers in order to win a dominant position in the emerging industry. EU leaders approved the tariffs in October.

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Countries call for binding targets to cut plastic production after talks fail

Group of 85 countries and blocs press for ambition in plastic waste treaty after no agreement was reached in Busan

Binding global targets to cut plastic production must be at the centre of any continuing negotiations to secure the world’s first treaty to tackle plastic waste, a group of 85 countries has said.

Talks in Busan, South Korea, attempting to secure agreement between more than 200 countries on the details of a plastic pollution treaty ended in failure over the weekend.

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Global plastic production must be cut to curb pollution, study says

Analysis lays bare huge challenge of mismanaged waste on eve of UN plastic treaty talks in Busan

Global plastic production must be reduced to tackle the immense challenge of plastic pollution, according to an analysis published on the eve of crucial talks to hammer out the world’s first legally binding treaty on plastic waste.

Mismanaged plastic waste, which leaches into the environment and can be harmful to health, will double to 121m tonnes by 2050 if limits are not placed on the production of plastic, according to Samuel Pottinger, the lead author of the research.

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Tory former energy secretary facing conflict of interest claim over JCB owner links

Shadow cabinet secretary Claire Coutinho accepted donation from Lord Bamford while overseeing millions awarded to his family businesses in green grants

A Conservative former cabinet ­minister who took donations from the billionaire boss of the JCB digger dynasty – including a £7,000 trip on his VIP private helicopter – oversaw decisions to award his family’s business empire millions in taxpayer-funded green energy grants.

Claire Coutinho also posed for ­pictures promoting Lord Bamford’s personal £100m hydrogen engine project and accepted a £7,500 donation from JCB to her local election campaign while she was the energy secretary in Rishi Sunak’s government.

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Indonesia blocks Apple iPhone 16 sales over lack of investment

Marketing and sale of model prohibited after tech giant fails to meet rule 40% of phones be made from local parts

Indonesia has prohibited the marketing and sale of the iPhone 16 model over Apple’s failure to meet local investment regulations, according to its industry ministry.

South-east Asia’s biggest economy has a young, tech-savvy population with more than 100 million people under the age of 30, but Apple still does not have an official store in the country, forcing those who want its products to buy from resale platforms.

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Project to build German EV microchip factory put on hold

US firm Wolfspeed and German car parts supplier ZF postpone plans over doubts about viability

A project to build a €3bn factory making microchips for electric vehicles once hailed as part of a “return of the industrial revolution” in Germany has been put on hold, as the crisis in the country’s hi-tech manufacturing industry deepens.

The US company Wolfspeed and the German car parts supplier ZF have postponed plans to build an EV chip factory, adding to problems caused by a delay to two large-scale factories belonging to the US chip giant Intel and possible factory closures being considered by Volkswagen.

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JCB profits rise despite faltering demand in UK and Germany

Company owned by Bamford family benefits from strong US sales offsetting end of exports to Russia

JCB has reported an increase in profits last year as strong US sales made up for its exports to Russia ending and faltering demand in the UK and Germany.

The company, one of the largest manufacturers in Britain, said that pre-tax profits rose 44% to £806m last year, up from £558m in 2022, according to a summary of its accounts published on Monday.

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How China and a tariffs row cast a shadow over booming US solar power

The source of new renewable energy is also a battleground over China’s cheap exports of panels that has split US firms

The Biden administration touts solar energy as one of its big success stories, a booming new industry that is curbing the effects of the climate crisis and creating high-paying jobs across the country. But the more complicated truth is that the United States is mired in a long-running trade war with China, which is flooding the market with artificially cheap solar panels that carry an uncomfortably large carbon footprint and threaten to obliterate the domestic industry.

The price of solar panels has plummeted 50% over the past year, largely, industry insiders say, because of deliberate Chinese overproduction of key components and a game of international cat-and-mouse over trade rules often likened to a game of “Whac-A-Mole”. As different sets of rules get established, Chinese companies have proved adept at moving their manufacturing plants to other countries, in south-east Asia, and shifting strategies to work around US tariffs and other deterrent measures.

This article was amended on 10 September 2014. An earlier version incorrectly stated that this year’s RE+ conference took place in Las Vegas, Nevada.

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Sixth-generation wire-maker blames Brexit for shredding its business

Owner of Ormiston Wire in London urges Keir Starmer not to forget small manufacturers in his dealings with EU

The head of a family-owned company that has made specialist wires and cables for six generations for clients ranging from naval vessels to film sets has blamed Brexit for shredding its business.

Mark Ormiston, the owner of Ormiston Wire, said small businesses such as his had been flushed “down the toilet” by the masterminds of Brexit who gave little thought to the real-life consequences for UK manufacturing.

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What happened to Cathay Pacific’s A350 and how will it affect Rolls-Royce?

British manufacturer’s share price slumped 6.5% after engines failed on Cathay Pacific flight on Monday

Cathay Pacific says 15 jets need new part after Rolls-Royce engine problem

An engine failure on a Cathay Pacific flight on Monday has put the spotlight on the British manufacturer Rolls-Royce, which makes and maintains the power plant on the Airbus A350.

As airlines that operate the twin-aisle plane inspect their fleets, investors are trying to establish whether there will be broader implications for Rolls-Royce. The A350, which carries up to 410 passengers, is used mainly on lon-haul routes.

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Cathay Pacific says 15 jets need new part after Rolls-Royce engine problem

Singapore Airlines also says it is inspecting aircraft after component failure on rival’s Airbus A350

Cathay Pacific has said it identified 15 Airbus A350 aircraft that need component replacements after a part failed on one of its Rolls-Royce engines minutes after takeoff from Hong Kong on Monday.

A second carrier, Singapore Airlines, said on Tuesday it was also inspecting the engines of its Airbus A350 aircraft “as a precautionary measure”.

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Rolls-Royce is FTSE 100’s biggest faller as Cathay Pacific inspects A350 fleet

Shares in engineering firm slide as airline cancels flights after finding engine component failure on aircraft

Shares in Rolls-Royce, the leading British engineering company, were the biggest faller on the FTSE 100 on Monday after Cathay Pacific Airways identified an engine component failure on an aircraft and began inspecting its entire Airbus A350 fleet.

The Hong Kong-based airline, which has cancelled 24 return flights so far while it performs the “precautionary” checks, said a number of aircraft would be out of service for several days. Shares in Rolls-Royce closed down 6%.

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UK economy continues recovery from recession with GDP growth of 0.6%

ONS data shows strong performance in second quarter with service sector helping drive growth

Britain’s economy has extended its recovery from recession after recording growth of 0.6% in the three months to June, handing a boost to the chancellor, Rachel Reeves, in the run-up to the autumn budget.

Figures from the Office for National Statistics (ONS) show gross domestic product continued to grow in the second quarter, after a rise of 0.7% in the first three months of 2024. The reading matched the forecasts of City economists.

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Elon Musk claims Tesla will start using humanoid robots next year

Billionaire says Optimus will start performing tasks for carmaker in 2025 and could be ready for sale in 2026

The Tesla chief executive, Elon Musk, has claimed the company will produce “genuinely useful” humanoid robots to start working in its factories next year.

The world’s richest person, who has a penchant for making overambitious claims on social media, posted on his platform X, formerly Twitter, that he also hoped to expand into “high production” mode to make robots with a humanlike form available sell to other companies in 2026.

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Business secretary confident of ‘market-led solution’ for Harland & Wolff

Jonathan Reynolds says he expects Royal Navy ships will continue to be built at the struggling Belfast yard

The business secretary, Jonathan Reynolds, has said he is confident that the Harland & Wolff shipyard in Belfast will continue to build ships for the Royal Navy, despite ruling out government support for the struggling company.

Harland & Wolff is part of a consortium on a £1.6bn contract to build three naval fleet solid support ships to supply the Royal Navy’s aircraft carriers. However, it has faced months of uncertainty over its future.

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China-owned British Steel said to have requested £600m of taxpayer support

Company is looking for help from next government to upgrade to less polluting technology

Chinese-owned British Steel has reportedly submitted a request for a package of taxpayer support worth £600m as it looks for assistance from the next government to upgrade to less polluting technology.

Government officials are due to review plans that set out the costs of switching from blast furnaces to electric arc furnaces at the company’s steelworks in Scunthorpe, Lincolnshire, the Sunday Times reported.

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