Subjects

Business

Explore Business
Search

Buried in this article about generating investment in Manchester are some gems of examples of why government might encourage foreign takeovers of British business. The article starts with an unlikely visit by Jim O’Neill of Goldman Sachs to the Manchester City stadium.

Famous for coining the term BRICS to describe the major emerging economies, O’Neill is equally famous as the leader of the Red Knights, who failed in their bid to buy Manchester United from the Glazer family in 2010 - the Glazer’s are accused by United supporters of failing to put enough cash into the club since they took it over. Sheikh Mansour, of Abu Dhabi, has poured money into Manchester City since he bought it in 2008 and there are ambitious plans to regenerate the whole area around the stadium.

The point of the article is to examine how effective foreign investment is in supporting the Manchester economy. One example is a company called Holroyd Precision, which makes high-tech machine tools. Based in Rochdale and employing 220 people, it was transformed after being taken over by a large Chinese manufacturer, Chongqing Machinery and Electric Co. Initial concerns that the company would be closed down and production moved to China have been proved quite unnecessary; Holroyd has almost doubled its turnover since the takeover two years ago and is now planning to build a new factory. The company says it is still British, employing British people, and producing high-tech, high-quality British goods.

Jim O’Neill compares this to car manufacturing in Britain, where he says that the latest data shows that today there are more cars produced in Britain than 30 years ago - by manufacturers such as Mini and Jaguar Land Rover who have benefitted from foreign takeovers.

Featured
CPD courses

Teaching the New Edexcel A Level Business

Join the tutor2u Business team for a resource-packed day designed to fast-track your lesson planning and preparation for the new Edexcel A Level Business specification. We'll look at the key changes in teaching content, explore the new challenges of teaching this linear specification and dive into some brand new teaching resources designed specifically for the new Edexcel A Level Business course from September 2015.

Learn more ›

Teaching & learning products

AQA BUSS1 Revision Guide

Our 20 page quick revision guide to all the key topics for AQA AS Business Studies Unit 1 (BUSS1). Enables students to cover the all the essential knowledge quickly. Also includes extensive advice on applying the theory to the BUSS1 exam studies.

£4.00

AQA BUSS4 Revision Guide

The latest edition of Jim Riley's concise 20 page guide to key topics for BUSS4 - essential support for your BUSS4 exam

£4.00

Close

Business