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...

Facebook is still in the eye of the storm. As a result of dissemination of fake news on its platform. UK lawmakers are accusing the Tech giant of intentionally breaching data privacy and competition law with other big tech companies. Now the British lawmakers are seeking a new regulator to protect democracy and citizens’ rights. The recent damning report singled out Facebook CEO Mark Zuckerberg for what has been described as a failure of leadership and personal responsibility, the British Parliament’s Digital, Culture, Media and Sport Committee said tech firms had proved ineffective in stopping harmful content on their platforms. This included disinformation, attempts by foreign countries to influence elections, and risks to personal data. “We need a radical shift in the balance of power between the platforms and the people,” Committee Chairman, Damian Collins, said. Collins said the age of inadequate self-regulation must end, following an 18-month investigation that conc...

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 ...