Greggs first loss since 1984; Nokia cutting up to 10,000 jobs; Buy2LetCars in administration – as it happened
Rolling coverage of the latest economic and financial news
- Latest: Car hire investment firm Buy2LetCars in administration
- Up to 10,000 job cuts planned at Nokia
- Covid-19 no longer top risk worrying investors
- European markets rally despite vaccine crisis
- Greggs to open more stores despite first loss
- Bakery chain makes first loss since floating in 1980s
Time for a quick recap
Bakery chain Greggs has posted its first annual loss since floating on the London stock market in 1984. The company was badly hit by the closures of its stores during the first lockdown, and restrictions on shopping since.
Related: Greggs plans 100 new shops despite Covid driving it to first loss since 1984
Related: Nokia to cut 10,000 jobs worldwide to bankroll new 5G drive
Related: Buy2Let Cars investors fear serious losses as firm goes into administration
Related: David Cameron met with insurance officer named in Greensill investigation
Related: Yorkshire Building Society first to bring back 95% mortgages
Related: FCA launches proceedings against NatWest over alleged money laundering
Related: Football Index seeks buyer amid widespread customer fury
Related: Ford opts to build Transit van diesel engines at Dagenham
Related: Elon Musk’s Tesla lobbied UK to raise tax on petrol and diesel
Ford workers in Dagenham can breath a sign of relief tonight – as the US carmarker has announced that their plans will make the diesel engines for its next generation of Transit Custom vans.
My colleague Joanna Partridge explains:
The US vehicle maker described the decision as positive news for the manufacturing plant in east London, and said it would safeguard jobs at the site, which employs a total of around 2,000 people, 60% of whom build engines.
The engines produced in Dagenham, along with transmissions from Cologne in Germany, will be shipped to Turkey, where the new range of Transit Custom commercial vehicles will be assembled by the carmaker’s Ford Otosan joint venture.
Related: Ford opts to build Transit van diesel engines at Dagenham
