Britain's last train factory has been saved from imminent closure, preserving 1,600 jobs at the Bombardier plant in Derby. The news came as the chief executive of Rolls-Royce warned that society pays excessive attention to investment bankers and should hold engineers in higher regard.

The Canadian group Bombardier told staff at Derby that the facility would stay open for the time being, though its long-term future was still contingent on winning further contracts.

The announcement is too late to save the 1,200 workers that have already lost their jobs since the government decision to select Germany's Siemens over Bombardier as preferred bidder for the £1.4bn Thameslink trains contract.

Diana Holland, assistant general secretary of the Unite trade union, said: "Bombardier's Derby workforce are highly skilled and make fantastic products. They've had a lot to endure over the past 12 months. Now at least there is some breathing space."  Read more...