UK Business News

The deal struck with Canadian car parts manufacturer Magna with General Motors, to buy the European Vauxhall and Opel units, is likely to come at a higher price than anticipated for the companies workers across Europe.
That is all except Germany where  job losses are in line with what was first estimated when Magna made their [...]

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Business secretary Peter Mandelson has called upon the former bosses of carmaker Rover MG to apologise for milking the profits from the business following the news that they took pay and pensions worth £42million, shared by five executives.
The government has said that the former directors known as the ‘Phoenix Four‘ plus chief executive Kevin Howe, [...]

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UK car dealer Pendragon is urging the government to continue with the car scrappage scheme, once the current commitment of £300million has been exhausted.
The scheme has rejuvenated the new car market with figures for July, the first full month of operation, showing a year on year rise for the first time in 2009.
Trevor Finn, CEO [...]

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Figures released today show that over half of the money put aside by the government to support it’s car scrappage scheme has already been used, 155,000 motorists have now taken advantage of the scheme that offers a £2,000 discount part funded by both the government and the manufacturer.
The government have made £300million available for the [...]

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There are signs that the government initiative introduced to boost new car sales in the UK is having some effect on the new car market, the latest report from the Society of Motor Manufacturers and Traders (SMMT) says that sales rose by 2.4% in July, the first annual increase in fifteen months.
Although there are no [...]

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