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==Economy== [[File:Coventry Skyline.jpg|thumb|upright=1.35|Coventry's skyline (view from the footbridge over the railway by Central 6 shopping centre). The three spires are: [[Holy Trinity Church, Coventry|Holy Trinity]] (left), remaining spire of the ruined (bombed) [[Coventry Cathedral|cathedral]] and the remaining spire of the ruined Christ Church (right).]] Historically, Coventry was the most important seat of ribbon-making in the UK. In this industry it competed locally with [[Norwich]] and [[Leicester]] and internationally with [[Saint-รtienne]] in France. Coventry has been a centre of motor and cycle manufacturing. Starting with [[The Coventry Motor Company|Coventry Motette]], [[The Great Horseless Carriage Company]], [[Swift Motor Company]], [[Humber Limited|Humber]], [[Hillman]], [[Riley (automobile)|Riley]], [[Francis-Barnett]] and [[Daimler Company|Daimler]] and the [[Triumph Motorcycles Ltd|Triumph motorcycle]] having its origins in 1902 in a Coventry factory. The [[Massey Ferguson]] tractor factory was situated on [[Banner Lane]], [[Tile Hill]], until it closed in the late 1990s. Although the motor industry has declined almost to the point of extinction, the Jaguar Land Rover has retained its Jaguar brand headquarters in the city (at Whitley) and an Advanced R&D team at the University of Warwick, while [[Peugeot]] still have a large parts centre in Humber Road despite the closure of its [[Ryton plant|Ryton factory]] (formerly owned by the [[Rootes Group]]) just outside the city in December 2006 with the loss of more than 2,000 jobs โ denting the economy of Coventry shortly before the onset of a [[Late 2000s recession|recession]] which sparked further economic decline and high unemployment. [[File:1972 Hillman Avenger 1.5.jpg|thumb|A 1972 [[Hillman Avenger]], produced in Coventry by Chrysler Competitions Department]] The [[Standard Motor Company]] opened a car factory at [[Canley]] in the south of the city in 1918, occupying a former munitions factory. This site was later expanded and produced Triumph cars after the Standard brand was phased out by [[British Motor Corporation|BMC]] during the 1960s. In August 1980, however, it was closed down as part of [[British Leyland]]'s rationalisation process, although the Triumph brand survived for another four years on cars produced at other British Leyland factories. The closure of the Triumph car factory was perhaps the largest blow to Coventry's economy during the early 1980s economic decline. The famous London [[Hackney carriage|black cab taxis]] are produced by Coventry-based [[London Electric Vehicle Company|LEVC]] (formerly [[London Taxis International|LTI]]); until its 2017 relocation from the historic Holyhead Road factory to a new plant at [[Ansty, Warwickshire|Ansty Park]] a few miles outside the city, these were the only remaining motor vehicles wholly built in Coventry. The manufacture of [[machine tools]] was once a major industry in Coventry. [[Alfred Herbert (company)|Alfred Herbert Ltd]] became one of the largest machine tool companies in the world. In later years the company faced competition from foreign machine tool builders and ceased trading in 1983. Other Coventry machine tool manufacturers included A.C. Wickman, and Webster & Bennett. The last Coventry machine tool manufacturer was [[Arms-to-Iraq|Matrix Churchill]] which was forced to close in the wake of the [[Project Babylon|Iraqi Supergun (Project Babylon)]] scandal. Coventry's main industries include: cars, electronic equipment, machine tools, agricultural machinery, man-made fibres, aerospace components and telecommunications equipment. In recent years, the city has moved away from manufacturing industries towards business services, finance, research, design and development and creative industries. ===Redevelopment=== [[File:Whittle arches coventry 12u07.JPG|thumb|The "Whittle Arch" outside the Transport Museum, named after Sir [[Frank Whittle]]]] [[File:MillenniumSquareCov.jpg|thumb|Millennium Square by night, showing the Time Zone Clock designed by Francoise Schein with the Whittle Arch soaring above]] Major improvements continue to regenerate the city centre. The Phoenix Initiative, which was designed by [[MJP Architects]], reached the final shortlist for the 2004 [[Stirling Prize|RIBA Stirling Prize]] and has now won a total of 16 separate awards. It was published in the book 'Phoenix : Architecture/Art/Regeneration' in 2004.<ref name="Phoenix">{{cite web|url=http://blackdogonline.com/all-books/phoenix.html|title=Phoenix : Architecture/Art/Regeneration|access-date=27 August 2009|year=2004|work=Black Dog Publishing|url-status=dead|archive-url=https://web.archive.org/web/20110708012456/http://blackdogonline.com/all-books/phoenix.html|archive-date=8 July 2011}}</ref> Further major developments are potentially afoot, particularly the Swanswell Project, which is intended to deepen Swanswell Pool and link it to [[Coventry Canal#Coventry Canal Basin|Coventry Canal Basin]], coupled with the creation of an urban marina and a wide Parisian-style boulevard. A possible second phase of the Phoenix Initiative is also in the offing, although both of these plans are still on the drawing-board. On 16 December 2007, [[IKEA]]'s first city centre store in the UK was opened, in Coventry.<ref name="ikeapress">{{cite web|url=http://www.ikea.com/ms/en_GB/about_ikea/press_room/press_release/national/southampton_opening.html|title=IKEA set to open City Centre Store in Southampton|publisher=[[IKEA]]|access-date=17 July 2012|archive-url=https://web.archive.org/web/20100924162920/http://www.ikea.com/ms/en_GB/about_ikea/press_room/press_release/national/southampton_opening.html|archive-date=24 September 2010|url-status=live}}</ref><ref name="shopping">{{cite web|url=http://www.visitcoventryandwarwickshire.co.uk/shopping/coventry.aspx|title=Shopping in Coventry|work=visitcoventryandwarwickshire.co.uk|publisher=Coventry City Council|access-date=17 July 2012|archive-url=https://web.archive.org/web/20120404090031/http://www.visitcoventryandwarwickshire.co.uk/shopping/coventry.aspx|archive-date=4 April 2012|url-status=live}}</ref> On 4 February 2020, it was announced that [[IKEA]]'s Coventry city centre store was to close the same year due to changing shopping habits and consistent losses at the store.<ref>{{cite news |title=IKEA To Close Its Coventry Store This Summer |url=https://hellocov.co.uk/ikea-to-close-its-coventry-store-this-summer/ |access-date=20 February 2020 |publisher=HelloCov |date=4 February 2020 |archive-date=20 February 2020 |archive-url=https://web.archive.org/web/20200220123229/https://hellocov.co.uk/ikea-to-close-its-coventry-store-this-summer/ |url-status=live }}</ref> The [[River Sherbourne]] runs under Coventry's city centre; the river was paved over during the rebuilding after the Second World War and is not commonly known. When the new rebuild of Coventry city centre takes place from 2017 onwards, it is planned that river will be re-opened, and a river walk way will be placed alongside it in parts of the city centre.<ref>{{cite web |url=http://www.coventrytelegraph.net/src/webroot/coventrytelegraph/lifestyle-news/your-life/2006/10/05/going-underground-in-coventry-50003-17875961/ |title=Going underground in Coventry |access-date=28 April 2008 |date=5 October 2006 |work=Coventry Telegraph.net |archive-url=https://web.archive.org/web/20090129211221/http://www.coventrytelegraph.net/src/webroot/coventrytelegraph/lifestyle-news/your-life/2006/10/05/going-underground-in-coventry-50003-17875961/ |archive-date=29 January 2009 |url-status=dead}}</ref> In April 2012, the pedestrianisation of Broadgate was completed.<ref name="broadgatesquare">{{cite news|url=http://www.coventrytelegraph.net/news/coventry-news/2012/03/23/coventry-s-new-broadgate-square-to-open-on-st-george-s-day-92746-30605552/|title=Coventry's new Broadgate Square to open on St George's Day|newspaper=[[Coventry Telegraph]]|first=Jenny|last=Waddington|date=23 March 2012|access-date=17 July 2012|archive-date=9 October 2020|archive-url=https://web.archive.org/web/20201009173624/https://www.coventrytelegraph.net/news/coventry-news/|url-status=live}}</ref> ===Media=== ====Radio==== Local radio stations include: *[[BBC CWR]]: 94.8 FM *[[Capital Mid-Counties]] (formerly [[Touch FM (Coventry)|Touch FM]]): 96.2 FM *[[Hits Radio Coventry & Warwickshire]] (formally known as Mercia Sound, Mercia FM, Mercia and Free Radio Coventry & Warwickshire): 97.0 FM *[[Greatest Hits Radio West Midlands]]: 1359 AM *[[Fresh (Coventry & Warwickshire)|Fresh West Midlands]]: DAB ====Written media==== [[File:Coventry Evening Telegraph building - geograph.org.uk - 5742185.jpg|thumb|Former offices of the Coventry Evening Telegraph.]] The main local newspapers are: *''[[Coventry Telegraph]]'': a paid for [[newspaper]] printed Monday to Saturday, owned by [[Reach plc|Reach]]. *''Coventry Observer'' ====Television news==== The city is covered on regional TV News by: *[[Midlands Today|BBC Midlands Today]]: run by the British public service broadcaster. *[[ITV News Central]] ====Digital-only media==== *''HelloCov'': an online news website founded in 2018.<ref>{{cite web |title=HelloCov About Us web page |url=https://hellocov.co.uk/about-us/ |website=HelloCov |access-date=20 February 2020 |archive-date=20 February 2020 |archive-url=https://web.archive.org/web/20200220111603/https://hellocov.co.uk/about-us/ |url-status=live }}</ref> *''Coventry Times''
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