Tata Motors denies Jaguar Land Rover sale plans, Debenhams store closures approved, and more top news
The news professionals are talking about now, curated by LinkedIn’s editors. Join the conversation on today's stories in the comments.
Indian giant Tata Motors has denied it is poised to sell Jaguar Land Rover to the French owner of Peugeot and Vauxhall. Both carmakers have spoken out following months of speculation that a sale could be imminent. JLR, which employs about 40,000 workers in Britain, saw retail sales fall by 6.4% in the final three months of 2018. Last week, it emerged that the new generation of Jaguar Land Rover’s Defender model will be built in Slovakia instead of the UK. ? Here’s what people are saying.
A plan to close up to 50 Debenhams stores has received backing from creditors, who voted in favour of the retailer’s Company Voluntary Arrangement (CVA) plan. Nearly a third of the chain’s 166 locations — including Birmingham Fort, Canterbury, Slough and Wimbledon — will be closed next year, putting thousands of jobs at risk. Debenhams fell into a pre-pack administration last month after rejecting a ￡150m cash injection from retail tycoon Mike Ashley. ? Here’s what people are saying.
Seven banks are set to be fined by EU antitrust regulators for rigging the foreign exchange market, reports Reuters, citing people familiar with the matter. Barclays, Citigroup, HSBC, JPMorgan, Royal Bank of Scotland, UBS and a small Japanese bank will get a 10% reduction in their fine for cooperating. The banks entered guilty pleas in the US, where regulators said rate-fixing was done through chat rooms with names like “The Mafia” and “The Bandits’ Club”. They were fined more than $2.8 billion collectively. ? Here’s what people are saying.
Dyson is entering the electric car market. Patents made public on Wednesday gave the first glimpse of what the company has planned, as founder James Dyson told staff that while the plans "don't reveal what our vehicle will really look like," they "provide a glimpse" of what the company is building. Speaking to the Financial Times, Dyson urged Theresa May to bring forward her ban on the sale of diesel and petrol cars from 2040 to 2030. ? Here’s what people are saying.
Also... Volkswagen’s computer systems couldn’t cope when the orders poured in for its new electric car yesterday. ? Here’s what people are saying.
Will architects be replaced by AI? Start-up Higharc has launched a home design app that seeks to make custom design homes more accessible by removing the need for architects and designers, Curbed reports. Higharc can customize designs using AI and algorithms to conform to "the rules of physics and good architecture" and local building codes. Higharc says it’s not targeting architects, but expanding the marketplace to those unable to afford a designer. Another start-up, SpruceUp, is leaning on AI to recommend home furnishings and decor. ? Here’s what people are saying.
Idea of the day: Feedback is how employees grow, but it has to be given in a compassionate and empathetic manner, says Arianna Huffington, CEO Thrive Global.
“There’s nothing wrong with failure or mistakes. They’re inevitable. But being able to learn from them isn’t.”
What's your take on today’s stories? Share your thoughts in the comments.
CORE IMPROVEMENT SOLUTIONS LTD
5 年Wont be buying another Range Rover if they do...
JLR sales were inevitable for me, unlike other manufacturers who offer small petrol turbos or hybrids, they’re almost completely reliant on diesel, which isn’t really a thing anymore (thank goodness). Not sure where they go from here with their two ton range of vehicles...
Project Manager at Community Fibre Limited
5 年Stupid move if they do. Landie is synonymous with Britain. They go hand in hand. Land rover will suffer badly taking it away. Good luck JLR.