UK car production at lowest level since 1984

UK car production in November hit its lowest level since 1984 as Covid continued to affect supply chains, a motoring industry group has said.   Output fell by 28.7% to 75,756 units, marking the fifth consecutive month of decline, the Society of Motor Manufacturers and Traders (SMMT) said.   It called the figures “incredibly worrying”, […]

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INEOS and Plastic Energy in trial to convert ‘hard to recycle plastic’

INEOS Olefins & Polymers Europe and Plastic Energy have announced that they are working together on a trial to convert ‘hard to recycle plastic material’, such as flexible packaging, back into ‘food-grade’ quality plastic for use in food packaging, and other high hygiene standard applications.   The companies have come together to launch a preliminary […]

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Chinese artificial intelligence firm relaunches listing

Chinese artificial intelligence start-up SenseTime Group has relaunched its $767m Hong Kong share sale.   The announcement comes a week after the listing was pulled as Americans were banned from investing in the firm.   Washington has accused SenseTime of developing facial recognition software to determine people’s ethnicity, with a focus on identifying ethnic Uyghurs. […]

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US to cut back on stimulus programme

The Federal Reserve will cut back its stimulus programme more quickly than planned, as it ratchets up its response to rising inflation.   The US central bank had already announced it was tapering off the monthly support, introduced to bolster the economy during the pandemic.   But on Wednesday officials said the process would be […]

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UK signs free trade deal with Australia

The UK has signed a free trade deal with Australia which it says will benefit consumers and businesses.   It is described as the first post-Brexit deal negotiated from scratch and not “rolled over” from trade terms that the UK enjoyed while in the EU.   The government estimated it would unlock £10.4bn of additional […]

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US passes import ban on goods from Chinese region

The US Congress has passed a bill that requires companies to prove that goods imported from China’s Xinjiang region were not produced with forced labour.   The US has accused China of genocide in its repression of the predominantly Muslim Uyghur minority there – a charge that China has repeatedly rejected.   The bill had […]

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UK warns US of retaliation over steel tariffs

The UK International Trade Secretary, Anne-Marie Trevelyan, has warned the US the UK could step up retaliatory measures if punitive tariffs on UK steel exports are not lifted soon.   She has been in the US for talks with the Commerce Secretary, Gina Raimondo.   On her return, Ms Trevelyan said “we had a very […]

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Lego to build $1bn factory in Vietnam

Lego has announced plans to build a new manufacturing operation in Vietnam to keep up with growing demand for its products in Asia.   The toymaking giant said it will invest more than $1bn (£760m) in the project, which will be near the country’s main business hub of Ho Chi Minh City.   It will […]

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