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Jaguar Land Rover opens voluntary redundancy program in $2.3B cost-cutting drive

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Jaguar Land Rover opens voluntary redundancy program in $2.3B cost-cutting drive

British carmaker Jaguar Land Rover (JLR) has opened a voluntary redundancy program for salaried and management staff as part of a sweeping multibillion, cost-cutting campaign. 

The Tata Motors-owned vehicle manufacturer confirmed the voluntary exit scheme for white-collar staff over the weekend as it moves to lower its global operational break-even threshold to 300,000 vehicles annually. While unconfirmed British media reports indicate the two-year operational overhaul could impact up to 4,000 non-assembly positions across its 30,000-strong U.K. workforce, JLR noted that hourly assembly line workers at primary manufacturing facilities will remain outside the scope of the program.

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“Over the past three years, we have transformed our product portfolio,” a JLR spokesperson told outlets. “To achieve this next phase, we must further simplify our organization, improve efficiency, and build greater resilience while adapting to evolving global market conditions.”

FORD BOOSTS US LINCOLN PRODUCTION AS IT PHASES OUT IMPORTS FROM CHINA

Jaguar Land Rover dealer

Jaguar Land Rover emblem near the car dealership. (Getty Images / Getty Images)

The restructuring follows mounting financial and operational pressures across international markets. Vehicle imports into the U.S. carry a 10% tariff rate, narrowing profit margins. In its domestic market, JLR faces intensifying competition from lower-cost Chinese electric vehicle imports, including Chery’s Jaecoo 7 SUV.

The cost-cutting push also comes in the wake of a major cyberattack late last year that forced JLR to temporarily halt production across several international facilities, contributing to a 27% drop in output and an estimated $2.5 billion, or £1.9 billion, drag on the broader British economy.

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U.K. Business Secretary Jonathan Reynolds confirmed he would meet with JLR Chief Executive Officer PB Balaji and representatives from Unite the Union.

Jaguar dealership

Showrooms for Jaguar and Landrover in Line Wall Road, Gibraltar, operated by A.M. Capurro, the official dealer in the city. (Getty Images / Getty Images)

“A company the size of JLR … at various times in its business cycle, the number of people it employs will change,” Reynolds told the BBC on Sunday. “If this is about making sure over time that the workforce is right to make the business as competitive as possible, that’s the conversation we need to have. But the government will not be giving support if it’s to bail people out.”

Unite General Secretary Sharon Graham stated that union leaders will take part in discussions with JLR executives to ensure hourly factory personnel are protected from compulsory job losses.

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FOX Business has reached out to Jaguar Land Rover for additional comment.

Reuters contributed to this report. 

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Schwan’s launches Red Baron Crunchtime pizza

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Schwan’s launches Red Baron Crunchtime pizza

MARSHALL, MINN. — The Schwan’s Co., a US-based subsidiary of South Korean food manufacturer CJ CheilJedang, has debuted Crunchtime pizza as part of its Red Baron brand.

The 10-inch, multi-serve microwavable pizza may be prepared in 5 minutes. The pizza is available in multiple varieties, including pepperoni, meat trio, and four cheese.

“At Red Baron, we’re focused on bringing consumers the flavors and convenience they’re looking for,” said Katie Hagen, senior marketing manager for Red Baron pizza. “Crunchtime pizza is an exciting addition to our lineup — giving families a new way to enjoy a full-size pizza in just 5 minutes.”

Red Baron Crunchtime pizza is available now at major retailers and grocers across the United States for a suggested retail price of $5.99.

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Thailand: Shifting from Investment-Driven Growth to Inclusive Transformation

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Thailand: Shifting from Investment-Driven Growth to Inclusive Transformation

AMRO’s September 2026 assessment following its Annual Consultation Visit reports that Thailand’s economy has performed better than expected despite Middle East-related energy shocks, driven by investment, fiscal spending, and technology exports. Growth remains uneven, with technology sectors expanding while traditional industries and SMEs stay weak, presenting an opportunity to broaden economic transformation.

Growth is projected at 2.4 percent for both 2026 and 2027, with inflation expected at 1.6 percent and 1.3 percent respectively. Risks remain tilted downward due to reliance on narrow growth drivers, potential AI/tech slowdowns, weak household incomes, and energy or weather shocks, though stronger demand could lift growth above baseline projections.

SINGAPORE, September 07, 2026 – Despite the Middle East energy shock, growth of the Thailand’s economy has been better than expected, supported by investment, fiscal spending and technology exports. However, growth remains uneven; technology-linked sectors have expanded strongly while traditional industries, particularly the SME segments, remain weak.

The current wave of FDI- and technology-driven investment offers Thailand a major opportunity to lift its growth potential and accelerate its economic transformation. Realizing this opportunity will require proactive measures to broaden its spillovers to productivity, employment and income across the economy.

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This preliminary assessment follows AMRO’s Annual Consultation Visit to Thailand from August 24 to September 4, 2026. The mission was led by Group Head and Lead Economist Allen Ng, with AMRO Director/CEO Yasuto Watanabe and Chief Economist Dong He joining policy meetings with the authorities.

Economic developments and outlook

“Growth is projected at 2.4 percent in both 2026 and 2027, supported by continued private investment, fiscal spending and technology-related exports,” said Ng. “The priority now is to harness the current investment wave to drive broader economic transformation by deepening domestic linkages, boosting productivity, creating jobs, and raising incomes.”

FDI-backed projects, particularly in digital infrastructure and electronics, continued to strengthen the investment cycle in the first half of 2026. The investment pipeline could support medium-term growth, but the benefits have yet to spread widely across domestic firms and workers.

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Headline inflation is projected at 1.6 percent in 2026 and 1.3 percent in 2027. Price pressures should remain contained as the energy price increase following the Middle East conflict recedes, although cost pass-through and food prices warrant monitoring.

Risks and vulnerabilities

Risks remain tilted to the downside, as reliance on a narrow set of drivers leaves the outlook vulnerable to external and domestic shocks. A sharp slowdown in global AI and technology-related activity could weaken exports, FDI and investment, while further weakness in household incomes and vulnerable sectors could become self-reinforcing. Energy, trade and weather shocks would pose additional headwinds.

On the upside, stronger external demand and investment activity, alongside wider domestic spillovers could lift growth above the baseline.

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Source : Thailand: From Investment-Led Growth to Broad-Based Transformation – ASEAN+3 Macroeconomic Research Office – AMRO ASIA

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Labor Day gas prices hit record $4.14 per gallon nationwide, AAA says

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Labor Day gas prices hit record $4.14 per gallon nationwide, AAA says

Just as the summer travel season comes to a close, Americans are facing the most expensive Labor Day gas prices on record, extending the squeeze on household budgets for millions hitting the road over the holiday weekend.

AAA says nearly 40 million Americans are expected to drive over the holiday, but they’ll be paying unprecedented prices at the pump.

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The national average for regular gasoline reached $4.14 per gallon on Monday, up about 4 cents from last week and nearly 95 cents higher than a year ago.

FORGET GASOLINE: THIS OVERLOOKED FUEL COULD RAISE THE PRICE OF NEARLY EVERYTHING YOU BUY

Cars are seen in traffic in California

Americans are facing the highest Labor Day gas prices on record as millions travel over the holiday weekend. (Kevin Carter/Getty Images / Getty Images)

If that average holds, it will shatter the previous Labor Day record of $3.82, set in 2012, and mark the first time the national average has exceeded $4 per gallon during the holiday weekend.

The unusually high prices come even though gasoline demand typically falls after the peak summer driving season.

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Normally, motorists begin to see relief at the pump after Labor Day as vacation travel winds down and fuel demand eases. This year, however, elevated crude oil prices tied to the conflict involving Iran have largely offset that seasonal trend.

Fighting in the region has raised concerns about disruptions to oil shipments through the Strait of Hormuz, a narrow waterway between Iran and Oman that carries roughly one-fifth of the world’s crude oil.

Those concerns have kept crude oil prices near $90 a barrel, preventing the seasonal decline in gas prices motorists usually see after Labor Day.

TRUMP’S AMBITIOUS ENERGY BET COULD BE A WINNING HAND AS THE WORLD BURNS MORE OIL, GAS THAN EVER

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A satellite image shows the Strait of Hormuz, a key maritime passage connecting the Persian Gulf to the Gulf of Oman, vital for global energy supply. (Amanda Macias/Fox News Digital / Getty Images)

A satellite view of the Strait of Hormuz, a critical choke point for global energy supply, connecting the Persian Gulf to the Gulf of Oman. (Gallo Images/Orbital Horizon/Copernicus Sentinel Data 2025/Amanda Macias/Fox News Digital)

While the national average is $4.14, prices vary significantly by state.

California continues to have the nation’s highest average gas prices at $5.78 per gallon, followed by Washington at $5.47, Hawaii at $5.41, Oregon at $4.98, Alaska at $4.96, Nevada at $4.91, Idaho at $4.62, Arizona at $4.52, Utah at $4.42 and Montana at $4.38.

BESSENT PREDICTS OIL PRICES COULD DROP AS LOW AS $40 AFTER IRAN CONFLICT ENDS AND SUPPLY FLOODS MARKET

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Concerns about global oil supplies have kept gasoline prices elevated, making this the most expensive Labor Day on record at the pump. (Brandon Bell/Getty Images / Getty Images)

At the other end of the spectrum, Indiana has the nation’s cheapest gas at $3.44 per gallon. 

It is followed by Texas at $3.69, Oklahoma and Mississippi at $3.71, Louisiana at $3.75, Arkansas at $3.77, South Carolina and Kansas at $3.78, Alabama at $3.79 and Wisconsin at $3.80.

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Whether motorists finally see relief in the weeks ahead will depend largely on crude oil prices. If tensions in the Middle East ease and oil prices retreat, drivers could begin to see the seasonal decline in gasoline prices that typically follows Labor Day.

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BLS projects nurse practitioners as the fastest-growing job by 41%

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BLS projects nurse practitioners as the fastest-growing job by 41%

The Bureau of Labor Statistics (BLS) recently released a report projecting how the U.S. workforce will grow from 2025 to 2035 and what professions will see the largest increases in jobs as the economy evolves.

Employment projections from the BLS estimate that the U.S. economy will add a total of 5.9 million jobs from 2025 to 2035, lifting total employment from 170.3 million to 176.2 million in that period. That would amount to a 3.5% growth rate, which is slower than the 10.9% growth rate from 2015 to 2025.

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The report also detailed what it projects as the 10 fastest-growing occupations from 2025 to 2035, with the list dominated by roles in the healthcare industry, as well as some in the energy sector.

“Because the likelihood of experiencing health complications increases with age, the aging population is expected to boost demand for a wide variety of healthcare and social services, including home health and personal care services,” the BLS wrote.

PRIVATE SECTOR ADDED 38,000 JOBS IN AUGUST, BELOW EXPECTATIONS, ADP SAYS

Nurse elderly patient hospital

Nurse practitioners are projected as the fastest-growing occupation over the next 10 years. (iStock)

Nurse practitioners were at the top of the list, with the profession’s employment expected to grow by 41% over the 2025 to 2035 period. That growth rate represents an estimated gain of about 137,800 nurse practitioner jobs.

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The second-fastest growing occupation in the report is solar photovoltaic panel installer, with the role expected to grow 36.5%, or about 11,300 jobs added through 2035.

BLS noted that demand for electricity “is expected to grow significantly” over that period, boosting demand for roles like solar panel installers and another role ranked further down the list.

LOWE’S LAUNCHES MAJOR EFFORT TO HELP CLOSE AMERICA’S SKILLED TRADES GAP

Installing panels

Solar panel installers are projected as the second-fastest growing role in percentage terms in the BLS report. (Reuters/Mike Blake/File Photo)

Data scientists ranked third, with employment growing by 34.6%, or 95,400 jobs, while wind turbine technicians were projected as the fourth-fastest growing role with a growth rate of 29.5%, or 3,500 jobs in the 2025-2035 period.

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Medical and health services manager roles were projected to grow by 24.2%, with the largest nominal employment growth of 155,100 jobs added in that time.

Physical therapist assistants were the sixth-fastest growing role in the BLS report, with projected growth of 23%, or 26,200 jobs, through 2035.

BILL GATES OUTLINES THE STAKES OF THE AI ERA: ‘GREATEST EQUALIZER… OR WORST SOURCE OF INJUSTICE’

minnesota wind turbines

Wind turbine technicians ranked as the fourth-fastest growing job in the BLS projections. (Jim West/UCG/Universal Images Group via Getty Images)

Continuing the trend of healthcare roles dominating the 10 fastest-growing roles over the next decade, psychiatric technicians ranked seventh on the list at a 22.3% growth rate and 36,000 jobs added in the next decade.

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The three roles that rounded out the list of the 10 fastest growing occupations from 2025 to 2035 were computer and information research scientists, with growth of 21.8% and 8,400 jobs; occupational therapy assistants, with a 21.5% growth rate and 11,200 jobs; and ophthalmic medical technicians, with a 21.4% growth rate and 15,500 jobs.

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Thailand’s economy in July saw growth, boosted by the momentum of the global technology and AI cycle

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Thailand’s economy in July saw growth, boosted by the momentum of the global technology and AI cycle

Thai economy in July grew with support from global technology and AI cycle, calm from Middle East conflict, and government stimulus. Exports, tourism, consumption, manufacturing, and government spending showed positive trends. Key issues to watch are technology cycle sustainability, geopolitical conflicts, tourism recovery, government measures, and El Niño impact.


Summary

  • The Thai economy in July expanded from the previous month, supported by the ongoing global technology and artificial intelligence (AI) cycle, the easing of disruptions from the Middle East conflict, and government stimulus measures.

    o Merchandise exports continued to expand, driven primarily by electronics products. Meanwhile, private investment softened following strong growth in the previous period.

    o Tourism receipts and foreign tourist arrivals increased, mainly supported by the gradual recovery in flight capacity, particularly on long-haul routes.

    o Private consumption increased, driven by higher spending on services, supported by government measures and improved domestic tourism activity during the extended holiday period.

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    o Manufacturing and service activities improved, in line with higher merchandise exports and tourism activity.

    o Government expenditure expanded, driven by higher disbursements by both the central government and state-owned enterprises.

  • Headline inflation declined, mainly due to lower energy prices, while core inflation increased slightly, reflecting the gradual pass-through of higher costs to consumer prices.
  • Key issues to monitor: (1) the sustainability of the global technology and artificial intelligence cycle, (2) developments in geopolitical conflicts and international trade protectionist policies, (3) the recovery of the tourism sector, (4) the impact of government measures, and (5) El Niño developments.

Source : https://www.bot.or.th/en/news-and-media/news/news-20260831.html

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Gold edges down as strong payrolls revive Fed hike bets

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Gold edges down as strong payrolls revive Fed hike bets

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Jaguar Land Rover: Why the carmaker is seeking an overhaul

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A woman with short reddish hair with a neutral expression faces the camera while sitting a room with black and brown wallpaper.

Jaguar Land Rover’s decision to shed 4,000 jobs comes after the carmaker has travelled down a very rough road.

The company has seen sales fall in all of its major markets and it has been dealing with the consequences of a devastating cyber-attack that paralysed production last year.

At the same time, it has been investing billions in an effort to reinvent itself for an electric future, in which it is likely to face intense competition from aggressively expanding Chinese brands.

Executives have now decided a major overhaul is needed.

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One of the main concerns for JLR is China. Not so long ago, it was seen as a land of opportunity for western carmakers, where the rapidly expanding middle classes seemed to have an inexhaustible appetite for upmarket foreign-badged vehicles.

JLR, along with other European brands such as BMW, Audi and Mercedes Benz, was all too willing to meet that demand, at a time when the European market was extremely crowded and growth hard to find.

Today, things are very different. The past decade has seen rapid growth among domestic Chinese carmakers, firmly backed by their government, which has been determined to make the country a leading player in electric vehicles.

This has created an environment of intense competition, in which local manufacturers have rapidly raised the bar in terms of technology and development speed.

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That, combined with a slowdown in the Chinese economy, has made China a much more difficult market for European brands.

JLR’s sales in China fell from a high water mark of 146,000 cars in 2017 to just 62,400 in the last financial year. At the same time, competition and a new luxury car tax have hit profit margins.

All of this has resulted in a sharp fall in revenues from the region. JLR is not alone in this; the Volkswagen Group, for example, has also seen its earnings in China pummeled – a major factor in its decision to axe 100,000 jobs by the end of the decade.

The state of the Chinese market has had another consequence for European carmakers, including JLR. Faced with cut-throat competition, they have been flexing their muscles abroad.

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Companies such as BYD and Chery have been rapidly gaining market share in the UK and Europe – with the Jaecoo 7 the third best-selling car in this country over the first half of the year.

Analysts say traditional brands will face an uphill struggle to compete with new rivals, who can sell cars more cheaply and develop them more quickly.

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Tech Rally Surges in Asia as Kospi Soars

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Tech Rally Surges in Asia as Kospi Soars

Tech Rally Surges in Asia as Kospi Soars

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Tech firm IQE planning move to main London Stock Exchange

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The Cardiff headquartered firm has reported strong revenues for the first half of this year

IQE(Image: RICHARD DAVIES 2022)

One of Wales’ leading tech firms, IQE, have reported a more than 40% rise in half year revenues while reaffirming a positive trading outlook in part supported by strong growth in AI and data centre related markets.

The Cardiff headquartered firm, a leading global supplier of compound semiconductor wafer products and advanced material solution, said that trading had exceeded management expectations.

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It has also confirmed it plans to move from the Alternative Investment Market to the main London Stock Exchange in the first half of next year. This should increase its visibility with institutional investors.

Earlier this year IQE confirmed a £81m investment package to support its growth plans following a strategic review of the business.

The funding included a £30m investment by US semiconductor manufacturer MACOM Technology Solutions – which has increased its position as a key customer – which also providing a further £15m in convertible loan notes.

In its first half to the end of June IQE revenues climbed 43% a year earlier from £45.3m to £64.6m. It posted an Ebitda of £6m compared to an Ebitda loss of £400,000 in the first half of 2025. Losses before tax were down from £18.3m to £12.6m with an improved cash and cash equivalent position of £41.6m.

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It sees the potential for upside opportunities in optical communications for data centre and AI infrastructure, underpinned by recently signed supply agreements.

IQE chief executive Jutta Meier said: “I am pleased to report a strong first half performance, with more than 40% revenue growth year-on-year across our core markets driving profitability. This reflects the strong momentum we are seeing across AI-driven data centre infrastructure, advanced sensing, wireless and defence applications, alongside improved operational execution and a more favourable product mix.

“During the period, we have demonstrated our ability to capture long-term growth opportunities across these critical markets, underpinned by a number of key supply agreements. IQE is uniquely positioned to meet customer needs and will be converting existing capacity in H2 to support the increasing demand for indium phosphide solutions.

“Looking ahead, we have initiated a move to the main market of the London Stock Exchange, marking an important next step in IQE’s development and reflecting the board’s ambition to broaden support for the business and position IQE for the future.”

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Money Box – Numeracy Review and Petrol Prices

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Money Box - Numeracy Review and Petrol Prices

Available for over a year

A new survey has suggested nearly a third of people in the UK believe they lost money last year because of their poor maths skills. One estimate puts the cost of innumeracy at £25 billion per year. To try and tackle this the government has asked a House of Lords committee to investigate. We’ll hear from its chair, Lord Agnew.

The price of petrol is the highest it has been for almost four years. It was autumn 2022 when petrol last topped 160p a litre. We’ll look at why that is and what you can do try and bring the costs down.

It’s 50 years since the creation of the first index fund for ordinary investors – spearheaded by John Bogle, the founder of the American investment company The Vanguard Group. What was its impact on investing today?

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And, why more than £1.5 billion languishing in unclaimed, government-backed Child Trust Funds will be the focus of a new review by the Financial Conduct Authority.

Presenter: Paul Lewis
Reporters: Dan Whitworth and Catherine Lund
Editor: Jess Quayle
Senior News Editor: Sara Wadeson

(First broadcast 12pm on Saturday 5th September 2026)

Programme Website

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