UK backs £1bn Nissan loan as carmaker battles losses and job cuts

  • The UK government is set to guarantee a £1 billion loan to Nissan as part of a major restructuring plan aimed at stabilising the troubled Japanese carmaker, according to a report from Bloomberg. The support, through UK Export Finance, the country's official export credit agency, comes as Nissan faces mounting financial pressures, with plans to cut 20,000 jobs globally and shut down seven factories globally.