Electron Native

Another sad news for the United Kingdom manufacturing sector as Japanese carmaker Honda plans to  closure its only British car plant in 2022 with the loss of 3,500 jobs, a lawmaker said, as Brexit approaches. Honda built just over 160,000 vehicles at its Swindon factory in Southern England in 2018, where it makes the Civic and CV-R models. Honda UK This accounted for a little more than 10 per cent of Britain’s total output of 1.52 million cars. But it has struggled in Europe in recent years, and the industry faces a number of challenges including declining diesel demand and tougher regulations alongside the uncertainty over Britain’s departure from the EU, due in March. Justin Tomlinson, a Conservative lawmaker for Swindon, who voted for Brexit in 2016, said he had met with the business minister and representatives from Honda, who had confirmed the plans. “They were due to make a statement tomorrow, it’s obviously broken early,” Tomlinson, lawmaker for North Swind...

As the United Kingdom (U.K.) and Europe battles with BREXIT, the dollar maintain three-month highs versus the euro on Thursday. This is supported by sustained strength in core U.S. inflation and weaker-than-expected data out of Europe. While headline United States (U.S.) inflation is at its weakest pace year on year for the past two years this January, traders focussed on the core price gauge, which stayed up for the third straight month, giving the dollar some impetus. The euro is trading below the psychologically important 1.13 dollar level at 1.1283 dollar. Earlier in the session, it hit an intra-day low of 1.1245 dollar. The greenback was hit earlier this year by the Federal Reserve’s shift to a cautious policy stance. However, the latest data suggests the central bank will need to stay vigilant on pricing pressures even as it adjusts to heightened growth risks. The Australian dollar, which is often considered a barometer for global risk appetite, is up 0.3 per ...