Luxury car maker says it ‘remains strongly committed to Crewe’

Workers at luxury car maker Bentley have been left ‘stunned’ after the company confirmed its intention to cut hundreds of jobs. Union officials said the cuts have ‘come out of the blue’, citing contributing factors such as ‘Trump’s tariffs’ and the continued impact of the covid lockdowns.

Despite recording an operating profit of £186m in 2025, and a seventh consecutive year of profitability, the company said it planned to cut 275 roles, around 6% of its workforce, by cutting up to 150 staff and not filling vacant positions.

The GMB said Bentley had experienced a 40% year-on-year drop in profits, with GMB organiser Karen Lewis adding: “These cuts have come out of the blue and the workforce is stunned.

“Trump’s tariffs’ have hit Bentley hard and the company is still feeling the affects of the covid lockdown.

“GMB will stand side by side with members in Bentley to ensure the minimum redundancies and the maximum pay outs.”

Bentley said it remains committed to UK manufacturing,, reports the Liverpool Echo. It confirmed that work continues on the transformation of its Pyms Lane factory, including the ongoing conversion of the site’s oldest building, which will become the future electric vehicle assembly line.

A spokesperson for Bentley said: “Bentley has delivered a seventh consecutive year of profitability while continuing to invest significantly in the transformation of our Pyms Lane site for the next generation of Bentley vehicles, including our first fully electric model.

“As part of ensuring the business remains competitive and prepared for the future, we have begun a consultation programme covering management, agency and non-manufacturing roles, which could result in up to 275 positions being removed from the organisational structure, which equates to approximately six per cent of the organisation.

“These are difficult decisions and our priority is to support any colleagues who may be affected throughout the consultation process.

“Bentley remains strongly committed to Crewe and continues to invest in the long-term future of luxury car manufacturing at our Pyms Lane site.”

TUCSON, Ariz. — More than six weeks after 84-year-old Nancy Guthrie vanished from her home in an affluent Tucson suburb, the investigation into her suspected abduction remains active but without a breakthrough arrest. Pima County Sheriff’s Office and FBI agents continue to analyze evidence, including a mixed DNA sample from the scene and additional surveillance images recovered from her residence, as the case enters its seventh week on March 18, 2026.

Nancy Guthrie, mother of NBC “Today” show co-anchor Savannah Guthrie, was last seen at her Catalina Foothills home on the evening of Jan. 31, 2026. Family members dropped her off around 9:30 p.m. local time after dinner. She failed to appear at church the next morning, Feb. 1, prompting a welfare check that escalated into a full-scale missing person probe.

Authorities quickly classified the disappearance as an abduction. Drops of blood believed to be hers were found on the front porch. Her doorbell camera was tampered with or disconnected around 1:47 a.m. on Feb. 1, and footage released by the FBI shows a masked, armed individual at the doorstep that night. Investigators believe she was taken against her will in the middle of the night, possibly while in bed. She left behind her cellphone, medications she requires daily for health conditions, and other essentials — factors that heightened concerns for her well-being early on.

The FBI joined the case immediately, establishing a dedicated tip line (1-800-CALL-FBI) and offering an initial $50,000 reward for information leading to her recovery or an arrest. In late February, the Guthrie family announced a separate $1 million reward, payable only upon Nancy’s safe recovery and consistent with FBI guidelines. Savannah Guthrie, her siblings Annie and Camron, and other relatives have made emotional public appeals via social media videos, pleading for tips and insisting “someone knows how to find our mom and bring her home.”

As of mid-March, no ransom has been confirmed paid, despite early speculation about demands. Pima County Sheriff Chris Nanos has said investigators have a theory on motive and believe the home was targeted, though he stopped short of confirming it definitively. He has not ruled out the possibility the perpetrator could strike again. Family members have been cleared as suspects.

Recent developments include FBI recovery of additional thumbnail images from home security cameras showing people in the yard area before the abduction — but nothing overtly suspicious, sources told outlets including ABC News and CBS News. The images are low-resolution and lack full video. Officials expressed hope in a DNA sample recovered from the scene, describing it as a potential breakthrough for identifying the suspect.

Tip volume surged initially but has tapered, per FBI statements. Investigators have focused on two dates in late January — Jan. 11 and Jan. 24 — and questioned neighbors about nearby construction crews or unusual activity. Experts note the case’s challenges: abductions of elderly individuals are rare (less than 0.2% of reported U.S. kidnappings involve those in their 80s), and the victim’s age complicates survival odds after prolonged captivity without medication.

The disappearance has drawn intense national attention due to Savannah Guthrie’s prominence. Media coverage has included timelines, expert panels on motive theories (ranging from targeted theft to more sinister possibilities), and comparisons to other unsolved cases. Public speculation on forums and social media has ranged from hopeful calls for her return to grim assessments of the odds.

Authorities emphasize the investigation’s ongoing nature. No arrests have been made, and Nancy’s whereabouts remain unknown. Officials urge anyone with information — even seemingly minor details — to contact the FBI anonymously. The family continues to hold out for her safe return while grappling with what experts call “ambiguous loss,” the prolonged grief of uncertainty.

As Day 46 approaches, the search for Nancy Guthrie stands as a stark reminder of vulnerability even in secure neighborhoods. With forensic leads still under review and a substantial reward outstanding, investigators and loved ones alike cling to hope amid the silence.

A persistent divergence between foreign and domestic institutional flows continues to define the trajectory of Indian equities, even as valuations begin to look more reasonable after last year’s excesses. While foreign institutional investors (FIIs) remain cautious, steady domestic inflows are providing a crucial cushion to the market.

Speaking on the evolving dynamics, veteran investor, Manishi Raychaudhuri, noted, “Now, the phenomenon that you mentioned that FIIs are selling and they have been selling for last 18 months roughly and the domestic institutions buying, that is not something new. I mean, we have seen this for last 18 to 24 months.”

He added that the sustained outflows from FIIs have been offset by robust domestic participation, particularly through systematic investment plans (SIPs). “The spate of FII selling has been neutralised by this massive systematic investment plans, the SIPs, that continue to come in, almost about $3 billion every month.”

Global Opportunities vs India’s Structural Story

According to Raychaudhuri, the reluctance of foreign investors is not necessarily a reflection of weakness in India alone, but rather a function of relative attractiveness elsewhere. “The foreign investors have a large firmament, a large universe to choose from and compared to India, they have better choices elsewhere in the emerging market space.”

He pointed to North Asian markets, where themes like artificial intelligence and related capital expenditure remain strong, alongside relatively lower geopolitical risks. “So, it is a combination of stronger growth and slightly lower risk that the FIIs are playing.”
In contrast, domestic institutional investors continue to benefit from a structural shift in household savings. “This is a direct consequence of the financialization that we have seen, it is not recent, it has been there for about last five to seven years.”
Importantly, he believes this trend still has room to run. “Indians are on an average still underinvested in equities… maybe it is still about 85-90-95% of Indian investments would remain focused on the home markets.”
Valuations Cooling, But Earnings Still a Concern
India’s valuation premium, once a major deterrent, has seen meaningful moderation. “At the peak in September 24 India’s price earnings multiple 12-month forward price earnings multiple was 87% higher… The last 15 years average is about 38-39%. And today India’s premium has actually come down below that level.”

He noted that the current premium of around 35–36% makes India relatively more attractive again. However, that alone may not be enough to trigger a strong return of FII flows. “The FII universe as a whole is not biting into this yet simply because the earnings environment is not yet supportive.”

Highlighting global comparisons, Raychaudhuri said, “If you look at last six months… you have Korea right on top… about 80% upgrade… Taiwan… 20-25%… But the Indian consensus EPS estimate… has still declined over the past six months by about 4.5% or so.”

This lag in earnings revisions remains a key overhang.

Macro Triggers and the Earnings Outlook
The outlook for earnings, in turn, hinges on a mix of fiscal, monetary, and external factors. “At some point this large fiscal stimulus that went in in 2025… will begin to have some effect… but it needs to be more sustained.”

He also indicated room for monetary easing, subject to inflation trends. “The central bank can perhaps afford to cut rates a little more… if we do have a situation where the Middle East situation settles down… we could have this concern about earnings destruction behind us.”

A moderation in crude oil prices toward the $60–70 per barrel range could be particularly supportive.

Can Valuations Hold?
On the question of sustainable valuation levels, Raychaudhuri struck a cautious note. “If you look at last 15 years average one year forward PE for India, it is about 18.8 times.”

However, he warned that valuations cannot remain elevated without earnings support. “If it remains in single digits, then those high-teens kind of PE are unsustainable.”

He emphasized the importance of reverting to a healthier growth trajectory. “Unless we get back to that situation… nominal GDP growth of about 10% to 12% and therefore corporate revenue and earnings growth of 13% to 14%… it will be difficult for these long range PE multiples to hold on.”

Sectoral Preferences: Banks, Industrials, Consumption
Despite near-term uncertainties, Raychaudhuri remains constructive on select pockets of the market. “Private banks… I have been kind of thumping the table on this for quite some time.”

He also highlighted opportunities in industrials and defence. “Defence expenditure is likely to rise stratospherically across the world… Industrials would also cater to India’s infrastructural ambitions.”

On the consumption side, he sees broad-based potential. “I would also be looking at consumer discretionaries in India… auto companies… household electronics goods… even some of the hospital and diagnostic chains.”

Additionally, cyclical sectors could offer tactical opportunities. “In the near term some of the cyclical sectors like base metals could also do well.”

IT Under Pressure
One notable exclusion from his preferred list is information technology. “I have stayed away from Indian IT for… almost a year now.”

He believes structural changes driven by artificial intelligence could weigh on the sector. “Indian IT… they are the classic AI losers… the average man-hour rate comes down and therefore the valuations of the IT companies come down.”

With earnings growth in single digits and valuations still elevated, he added, “They are trading at about 18 to 20 times PE, simply not sustainable.”