GlaxoSmithKline builds new British facility
GlaxoSmithKline PLC Monday said it will build its first new manufacturing capacity in Britain in about 25 years in response to the U.K. government’s plan to cut the rate of corporation tax on income from patents.
The country’s biggest drug maker said it will now push ahead with plans to invest £500 million ($779.7 million) in new manufacturing facilities, creating about 1,000 jobs.
Japan’s manufacturing activity shrinks
Japanese manufacturing activity shrank for a third consecutive month in November as a strong yen hit exports.
The Nomura/JMMA Japan Manufacturing Purchasing Managers Index (PMI) stayed below the 50 threshold that separates contraction from growth.
The index for new export orders fell to 46.9 from 48.4 in the previous month, showing that export orders contracted at their fastest pace in 19 months.
High prices hit India’s manufacturing
Even as India’s manufacturing sector improved its performance during the first half of this year, high inflation and input costs have hit the growth of the industry, says a joint survey by Confederation of Indian Industry (CII) and Ascon.
Chinese export regions facing labour shortages
Two of China’s main export manufacturing areas are suffering from an acute shortage of migrant workers, giving laborers more leverage over wages and curtailing the expansion plans of some companies, according to a report published Monday in China Daily, an official English-language newspaper.
The shortfall is especially severe in the service and manufacturing industries. The regions most affected, both of them coastal, are the Pearl River Delta, in the southern province of Guangdong, and the Yangtze River Delta, near Shanghai.