Magna investment leads the way

THE decision by Canadian giant Magna International to build a 225,000 sq ft factory in Telford was the big business story in the West Midlands this week, in a move which helped emphasise once again the importance of Jaguar Land Rover to the region.

Nearly 300 jobs will be created when the site is operating at full capacity producing advanced lightweight aluminum castings.

There was more good news for the long-term health of the West Midlands economy from the 2017 Guardian University Guide, which placed Warwick, Birmingham and Coventry universities in the UK’s top 15.

However the fragility of the global economy continues to affect firms, with this week Chamberlin affected by tough trading conditions. The engineering group’s share price dropped to a six-year low after announcing a small loss on the back of a 15% fall in revenues.

Enjoy the Bank Holiday and keep an eye out for our new ‘Weekender’ lifestyle email on Saturday morning.

This week’s top 10: