This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7789055.stm
The article has changed 8 times. There is an RSS feed of changes available.
| Version 3 | Version 4 |
|---|---|
| Government confirms Jaguar talks | Government confirms Jaguar talks |
| (10 minutes later) | |
| The government has held talks with Jaguar Land Rover over the possibility of state aid for the carmaker, Business Secretary Lord Mandelson has confirmed. | The government has held talks with Jaguar Land Rover over the possibility of state aid for the carmaker, Business Secretary Lord Mandelson has confirmed. |
| He said no decision had yet been made, and there was not "an open chequebook". | He said no decision had yet been made, and there was not "an open chequebook". |
| Jaguar Land Rover was bought by India's Tata in June for £1.7bn ($2.6bn). Since then output has been trimmed at its three main UK manufacturing sites. | Jaguar Land Rover was bought by India's Tata in June for £1.7bn ($2.6bn). Since then output has been trimmed at its three main UK manufacturing sites. |
| News of the talks with the UK government came after Tata said it was to sponsor Ferrari's Grand Prix team. | News of the talks with the UK government came after Tata said it was to sponsor Ferrari's Grand Prix team. |
| Tata, which bought Jaguar Land Rover from Ford, said it was not commenting on talks with the government. | Tata, which bought Jaguar Land Rover from Ford, said it was not commenting on talks with the government. |
| Neither Tata or Ferrari have revealed the cost of their sponsorship deal. | Neither Tata or Ferrari have revealed the cost of their sponsorship deal. |
| Jaguar Land Rover chief executive David Smith said he agreed with the opinion of trade body Society of Motor Manufacturers and Traders that the industry's "situation in the UK is a national emergency requiring urgent action". | |
| 'Analysing carefully' | 'Analysing carefully' |
| Jaguar Land Rover, which employs about 15,000 in the UK, said last month that it faces "unprecedented trading conditions" as global sales for the whole of the car industry have fallen sharply since the summer. | Jaguar Land Rover, which employs about 15,000 in the UK, said last month that it faces "unprecedented trading conditions" as global sales for the whole of the car industry have fallen sharply since the summer. |
| The car sector - car manufacturing - is a centre of real excellence and competitive strength in our country Lord Mandelson | The car sector - car manufacturing - is a centre of real excellence and competitive strength in our country Lord Mandelson |
| It also announced last month that it was cutting 850 agency jobs. | It also announced last month that it was cutting 850 agency jobs. |
| "We are analysing very carefully what is going on in the [car] sector and we will make good judgments in good time if it is appropriate for the government to take any action or if it is possible for us to do so," Lord Mandelson told Sky News. | "We are analysing very carefully what is going on in the [car] sector and we will make good judgments in good time if it is appropriate for the government to take any action or if it is possible for us to do so," Lord Mandelson told Sky News. |
| "I have had discussions with the owners and management of Jaguar Land Rover in particular, because they argue that they are under particular strain." | "I have had discussions with the owners and management of Jaguar Land Rover in particular, because they argue that they are under particular strain." |
| While Lord Mandelson warned there would not be "a great long list of industrial bail-outs", he did seem to indicate that the car sector might be one that the government looks at favourably. | While Lord Mandelson warned there would not be "a great long list of industrial bail-outs", he did seem to indicate that the car sector might be one that the government looks at favourably. |
| "The car sector - car manufacturing - is a centre of real excellence and competitive strength in our country," he said. | "The car sector - car manufacturing - is a centre of real excellence and competitive strength in our country," he said. |
| "It is not just the carmakers themselves and all those employed directly in the production of cars, it is the huge supply chain of many small and medium-sized enterprises that supply components and other elements to that very important manufacturing process." | "It is not just the carmakers themselves and all those employed directly in the production of cars, it is the huge supply chain of many small and medium-sized enterprises that supply components and other elements to that very important manufacturing process." |
| 'Iconic brands' | 'Iconic brands' |
| Ford bought Jaguar in 1989 for £1.6bn, and Land Rover in 2000 for £1.8bn. The combined cost of £3.4bn was double what it sold them for. | Ford bought Jaguar in 1989 for £1.6bn, and Land Rover in 2000 for £1.8bn. The combined cost of £3.4bn was double what it sold them for. |
| Tata chairman Ratan Tata said in June that Jaguar and Land Rover were "two iconic British brands with worldwide growth prospects". | Tata chairman Ratan Tata said in June that Jaguar and Land Rover were "two iconic British brands with worldwide growth prospects". |
| However, that was before the crisis in the global financial sector and subsequent sharp global economic slowdown. | However, that was before the crisis in the global financial sector and subsequent sharp global economic slowdown. |
| Tata has also since reported falling sales at its main car business in India. | Tata has also since reported falling sales at its main car business in India. |