{"componentChunkName":"component---src-templates-post-js","path":"/car-industry-stalls/","result":{"data":{"ghostPost":{"id":"Ghost__Post__5f227f9f8ef3680039e6704b","title":"Car industry stalls","slug":"car-industry-stalls","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/07/Multiply-minute-21.png","excerpt":"The UK is on track to build just 880,000 cars this year. That’s a third less than last year, and our lowest since 1957.","custom_excerpt":"The UK is on track to build just 880,000 cars this year. That’s a third less than last year, and our lowest since 1957.","created_at_pretty":"30 July, 2020","published_at_pretty":"30 July, 2020","updated_at_pretty":"30 July, 2020","created_at":"2020-07-30T08:06:55.000+00:00","published_at":"2020-07-30T08:18:33.000+00:00","updated_at":"2020-07-30T08:21:28.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Get straight to the good stuff every day with the Multiply Minute; a\nlightning-quick round-up of the money news and how it affects you.\n\nFlat tyre for car industry\nThe UK is on track to build just 880,000 cars\n[https://www.cityam.com/carmakers-shed-11000-jobs-as-production-set-for-worst-year-since-1957/] \nthis year. That’s a third less than last year, and our lowest output since 1957.\nProduction lines have stalled due to coronavirus, and over 11,000 people all\nalong the car supply chain have lost their jobs since the start of the crisis.\n\nLloyds goes overdrawn\nLloyds Banking Group has reported losing money\n[https://uk.reuters.com/article/uk-lloyds-results/pandemic-pushes-lloyds-bank-into-the-red-as-bad-debt-fears-rise-idUKKCN24V0O2] \nin the first half of the year, after upping its estimates for customers\ndefaulting on loans. The bank had expected to put aside £1.5 billion in the\nsecond quarter to cover bad loans, but has ended up ring-fencing a massive £2.4\nbillion. Lloyds, which is often seen as a bellweather for the wider economy,\nsays the financial impact of coronavirus on its customers is larger than it\nthought it would be.\n\nPublic sector hiring spree\nThousands of jobs and new nursing training spots will be created in a new \npublic\nsector jobs boost\n[https://www.theguardian.com/uk-news/2020/jul/29/thousands-of-uk-public-sector-jobs-to-be-created-in-recruitment-drive]\n. There are 3,000 extra nursing places available, and the Ministry of Justice is\nhiring 1,000 new probation officers by the end of the year. Last year, Boris\nJohnson also pledged to recruit 20,000 new police officers to try and bolster\nthe shrinking force. A report on his progress will be published later today.","html":"<p>Get straight to the good stuff every day with the Multiply Minute; a lightning-quick round-up of the money news and how it affects you.</p><h3 id=\"flat-tyre-for-car-industry\">Flat tyre for car industry</h3><p>The UK is on track to <a href=\"https://www.cityam.com/carmakers-shed-11000-jobs-as-production-set-for-worst-year-since-1957/\">build just 880,000 cars</a> this year. That’s a third less than last year, and our lowest output since 1957. Production lines have stalled due to coronavirus, and over 11,000 people all along the car supply chain have lost their jobs since the start of the crisis.</p><h3 id=\"lloyds-goes-overdrawn\">Lloyds goes overdrawn</h3><p>Lloyds Banking Group has reported <a href=\"https://uk.reuters.com/article/uk-lloyds-results/pandemic-pushes-lloyds-bank-into-the-red-as-bad-debt-fears-rise-idUKKCN24V0O2\">losing money</a> in the first half of the year, after upping its estimates for customers defaulting on loans. The bank had expected to put aside £1.5 billion in the second quarter to cover bad loans, but has ended up ring-fencing a massive £2.4 billion. Lloyds, which is often seen as a bellweather for the wider economy, says the financial impact of coronavirus on its customers is larger than it thought it would be.</p><h3 id=\"public-sector-hiring-spree\">Public sector hiring spree</h3><p>Thousands of jobs and new nursing training spots will be created in a new <a href=\"https://www.theguardian.com/uk-news/2020/jul/29/thousands-of-uk-public-sector-jobs-to-be-created-in-recruitment-drive\">public sector jobs boost</a>. There are 3,000 extra nursing places available, and the Ministry of Justice is hiring 1,000 new probation officers by the end of the year. Last year, Boris Johnson also pledged to recruit 20,000 new police officers to try and bolster the shrinking force. A report on his progress will be published later today.</p>","url":"https://multiply.ghost.io/car-industry-stalls/","uuid":"bbff99da-279a-4453-ad1c-813a7b2ff544","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5f227f9f8ef3680039e6704b"}},"pageContext":{"slug":"car-industry-stalls"}},"staticQueryHashes":["176528973","2358152166","2561578252","2731221146","4145280475"]}