UK’s leading accountancy firm BDO has said it would not repay £4.5 million of furlough money, which it had received from the government. The company has paid its partners a whopping amount of £137 million, an average of £518,000 for each of its 264 partners. Firm’s managing partner Paul Eagland said that the firm wants “to invest in more jobs” and that’s their greater responsibility.
Britishvolt selects Blyth for the vehicle battery plant Car battery startup Britishvolt has picked up a site in north England for the £2.6 billion battery plant, which would start production in 2023. The plant in the port of Blyth would be built in three stages and would employ 3,000 people.
The firm had applied for funds from the £1 billion British government reserve for the mass production of batteries. JLR closes its Castle Bromwich factory for the shortage of materials Jaguar Land Rover (JLR) has closed the production in the Castle Bromwich factory owing to unavailability of key materials due to Covid-19 crisis.
Earlier this week, JLR, which is owned by Indian conglomerate Tata Group, stopped the production of XE and XF cars for the next two weeks. Almost all carmakers are facing hurdles due to the pandemic as most suppliers were forced to shut down their factories in April and May.