Thursday newspaper round-up: JLR, electric cars, Royal Mail

26th Sep 2024 07:11

(Sharecast News) - Rachel Reeves is pushing for the UK's tax and spending watchdog to upgrade its national growth forecasts to reflect the economic boost Labour says can be achieved from its blitz of planning reforms. In a development that could open up additional spending headroom for the chancellor before next month's budget, the Treasury has held talks with the Office for Budget Responsibility to try to persuade its officials that unblocking the planning system could drive up growth. - Guardian

Jaguar Land Rover has said it will spend half a billion pounds to upgrade a Merseyside factory to build hybrid cars and prepare for electric vehicle production. Britain's largest automotive employer - officially known as JLR - said it has already spent £250m on new car production lines, machinery, people and digital technology at the Halewood plant, with plans for £250m more over the coming years. - Guardian

Labour ministers have sought legal advice about a £1.6bn Royal Navy shipbuilding contract as the struggling British company hired for the work faces a Spanish takeover. Belfast-based Harland & Wolff, which built the Titanic, was hired alongside Navantia, a Spanish state-owned shipbuilding giant, to build three Navy vessels but Harland's decision to call in administrators last week has plunged the project into crisis. - Telegraph

The production of electric cars including hybrids fell by 25.9 per cent last month as demand waned, new figures show. This led to a decline in their share of overall car output to 29.6 per cent, according to the Society of Motor Manufacturers and Traders, the car industry body. - The Times

The chairman of Royal Mail's parent company has criticised the slow timetable of Ofcom's consultation on reform of the struggling postal operator's universal service obligation. Keith Williams, 68, told International Distribution Services' shareholders at Wednesday's annual meeting, that while the loss-making Royal Mail welcomed Ofcom's plans to consult, the process is "frustratingly slow", with no decision due until next summer. - The Times