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Wednesday newspaper round-up: Nissan, 21st Century Fox, Dyson

Market Buzz

Wednesday newspaper round-up: Nissan, 21st Century Fox, Dyson

Wed, 01 March 2017
Article viewed 259 times
Wednesday newspaper round-up: Nissan, 21st Century Fox, Dyson

(ShareCast News) - Nissan has called on the government to provide investment to help rebuild the UK's car parts business so it can replace components that come from overseas after the country leaves the EU. A Commons select committee was told by a senior Nissan executive that the company was forced to source up to 85% of its components from Japan, China and Europe, as the necessary car parts were no longer produced in the UK. If these parts were made in the UK instead, Nissan would spend up to £2bn a year with British suppliers. - Guardian
Rupert Murdoch's 21st Century Fox is expected to formally notify the European competition regulator of its £11.7bn takeover offer for Sky later this week, after which the UK culture secretary will have to decide whether to launch an investigation into the extent of Murdoch's control of UK media. From the point the European commission makes Fox's bid notification public, Karen Bradley will have 10 working days to decide whether to issue a public interest intervention notice, or PIIN. - Guardian

Dyson has given British engineering a vote of confidence, unveiling plans to make its UK research and development centre 10 times bigger. Sir James Dyson - who has already invested £250m into the company's global base in Malmesbury, Wiltshire - has bought a nearby World War II airfield is developing it into a new technical centre. - Telegraph

Philip Hammond held an emergency meeting with the heads of Britain's biggest insurers yesterday in an attempt to stop what they described as a "crazy" decision to raise personal injury payouts, lifting the cost of car insurance for young drivers by more than £100. In a statement last night, the chancellor agreed to launch an "urgent" consultation after meeting the bosses of 15 motor and commercial liability insurers to head off threatened legal action. - The Times

Questions were raised yesterday about the Bank of England's newest deputy governor after she openly disagreed with its chief economist over the effects of quantitative easing. Charlotte Hogg, who takes over from Dame Nemat Shafik today as the deputy for markets and banking, said that she could see no evidence of a bubble in gilt markets and that QE had had "a very limited effect" on gilt prices. - The Times