they are not investing in new factories and the like at the moment, and the reason is, the smmt says,n particular, what is going to happen at the borders. the smmt says at the moment we're part of the single market of the customs union, so we have regulatory approval but is the same across europe, and we also have easy passage across borders, and that is very important because a thousand trucks crossed the channel every day, bringing parts to and fro for the car industry. the smmt is saying we don't know what is going to happen after britain leaves the european union and after the transitional period, and therefore potential investors are sitting on their hands. they don't know what to do. theo leggett, many thanks for that update on the car industry in the uk. lets just have a look at the stories on the website. copyright has reported a four—year loss of falling sales as the retailer struggles to turn itself around. the floor covering retailer agreed a rescue plan earlier this year. that is an interesting way to describe carpets! it includes laminate as well! they had a steep decline

now investment is falling, too, and the smmt says uncertainty over brexit is to blame. economy. it accounts for 186,000 manufacturing jobs. in the first six months of last year, new investment in the industry was worth nearly £650 million. in the same period this year, that figure had fallen to just under £350 million. more than a thousand lorries across the channel every day, bringing parts for car and engine factories in britain. manufacturers are now considering what to do if brexit triggers serious delays at the borders. the risks are always that countries enact some of those contingency plans. that can be in terms of supply chain sourcing, it can be in terms of future model allocation. it won't be overnight closure, bit it could be a death by a thousand cuts. bmw makes minis here at its plant near 0xford. the company's already warned it needs more clarity on what happens when we leave the european union. we look to a competitive environment, and that's something that we have to be very, very conscious of because, as a company, as an industry, we actually compete al

mike hawes, chief executive of the industry body the smmt, said the growth as encouraging and suggestshe visa service outage across the uk and europe on friday. mike hawes, chief executive of the industry body the smmt, said the growth as encouraging and suggests the market is now she has also asked visa europe's chief executive charlotte hogg whether customers or merchants will be entitled to compensation from visa. the service sector picked up momentum in may, according to a closely watched survey of purchasing managers. the index rose to 54.0 in may. that's up from 52.8 in april. any figure above 50 indicates an increase in business activity. the services pmi figure, as it's known, is particularly important because services make up 80% of the economy — it covers things like banking, leisure, retail and travel. a quick look at the markets... royal bank of scotland weighed on britain's ftse 100 on tuesday after the government sold a stake in the bank, while a rising pound after strong services data piled extra pressure on the internationally—exposed index. shares in rbs fell after the

something that's led planemaker airbus and the car industry body, the smmt, to voice their concerns, and the operator of heathrow airport revealing it will shift its international hq from the uk to amsterdam due to brexit. with me is ross denton, trade partner at baker mckenzie. the morning. let's talk about interventions from businesses. the government says it is not helpful. what impact is it having? it is focusing the mind. something has to be done. investment has to be made but businesses. any clarity that can be given to them is welcome. from the other side of the perspective, they are saying if they do not get clarity and what they want, many are mobile businesses which can move out of the uk. more negotiation is happening today. we do not know what is coming out of the press conference last night with michel barnier. what is the best result? they want nuts and bolts of the negotiations. the money and things about immigration are important, but the most important thing for them is the most important thing for them is the shape of the future relationship between the uk and the e

the trade body the smmt is blaming uncertainty over brexit.s used to stun farm animals before being slaughtered. quality pork may have to send some animals to england to be processed. carpetright made a loss of around £70 million last financial year. sales also fell. the company's closing 81 stores as part of a rescue plan. harley—davidson, they are indeed in hot water with donald trump who has used the phrase white flag? this is all about the decision by harley—davidson, an iconic american brandt, to move some production overseas. that is because they want to avoid taxes for importing into the eu. the eu introduced these ta riffs the eu. the eu introduced these tariffs in retaliation to tariffs imposed by washington and steel and aluminium from europe and elsewhere. as you say, the american president is really upset. he has accused harley—davidson of waving the little white flag and has also said they could be taxed like never before. let's get more on this from paul blake on the floor of the new york stock exchange. can he do that, can he th

the trade body the smmt is blaming uncertainty over brexit.o run out of carbon dioxide today leaving it in danger of welfare issues. the gas is used to stun farm animals before being slaughtered. quality pork limited may have to send some animals to england to be processed. carpetright made a loss of around £70 million pounds last financial year. sales also fell. the company's closing 81 stores as part of a rescue plan. when you think of a business person — what springs to mind? it's all to easy to think of it as someone in an airconditioned office at the top of a skyscraper, commanding hundreds of workers. but the reality is very different. in scotland 94% of businesses are micro businesses — those are companies with fewer than nine employees and a turnover of less than half a million. according to the royal bank of scotland — a third of those were started by women before they turned 35. joining me now is paula ritchie from royal bank of scotland. thank you forjoining us. i want to start off that amazing figure. 94% of businesses, micro—busin

he's been speaking at the smmt conference this morning. they are facing in terms of challenges right now, they are facing a challenge from the road to 2040 and the route towards the recognition society in the uk and other countries. a road which is not particularly clear right now. they're facing the challenges of connected cars, autonomous vehicles, shared vehicles, new services that they looking into. so, alongside all those other challenges, manufacturers are feeling somewhat lacking in certainty of clarity today. with comments from bmw's senior directors saying that this is putting our operations at risk in the uk. difficile perhaps car manufacturers pulling out if the uk does come out of the customs union and the single market? well, could not comment on that particularly with bmw but certainly there will be quite significant impacts if that scenario does occur. weekend expect the industry to be highly organised, it has highly effective supply chain management, works to aileen time principle, supports are coming into trancelike bmw in

yes, this is a report out this morning from the smmt. yea rs, particularly boardrooms. over the next couple of years, particularly with plants, they will risk —— they will reach they will risk —— they will reach the decision point. investment has been declining. investment in the automotive industry is always a bit lumpy and inconsistent, but if you match what is happening in terms of total investment with what we hear, we are seeing companies sitting on their hands for as long as possible, but it reaches the point when you had to make that decision and you need the clarity. clarity is a real concern. it has been such a strong industry, so much investment. you may be wrote off the car industry after the demise of things like rover, but it is thriving. it employs 186,000 people across the uk but it's also very international. eight in ten vehicles made in the uk is exported — that was more than a million vehicles last year. so not only is the worry about getting parts from overseas, but also being able to export them to sell them to custom