New rules to clamp down on market manipulation by forcing energy traders to report their transactions have now come into force. Introduced in October, the first tranche of the EU’s REMIT (Regulation on Wholesale Energy Market Integrity and Transparency) data reporting rules required traders to report all
Procurement organisation Constructionline is holding a ‘meet the buyer event’ in Leeds next week to help subcontractors and suppliers from across Yorkshire find work. Clients booked to appear include Doncaster Borough Council, Sheffield City Council and Highways England, as well as Wates, Sir Robert McAlpine, Mears, Barhale, Clugston and Casey.
Some 50% of homes sold in the UK in the last two weeks of March were bought by landlords as they sought to beat the new stamp duty deadline on 01 April, new research shows. There has been a lot of anecdotal evidence that buy to let landlords had been
More than 16 firms are set to enter the Department of Energy and Climate Change competition, which aims to identify a preferred technology for Small Modular Reactors (SMRs) to be rolled out in a series of new power plants over the next 15 years. Companies expected to take part include
More than 150 construction industry executives met yesterday for the second Health in Construction conference in the hope of improving occupational health in the construction industry. Above: Steve Perkins, chief executive of the British Occupational Hygiene Society (BOHS) The second Health in Construction event, titled ‘Committing Construction to a Healthier
You need JavaScript active on your browser in order to see this video. Investors who follow the leveraged loan market might be feeling a bit like a New Yorker in a downpour, or a Londoner at rush hour, trying to hail a car using Uber. With demand shooting up, they
In October the residential sector unexpectedly reached a huge £2.3 billion worth of construction contracts for the month. This was despite the sharp falls in the construction industry after the immediate aftermath of the Brexit vote. The November edition of the Economic & Construction Market Review from industry analysts Barbour
A new £4 million low carbon technology hub has launched at Manchester Metropolitan University. SMEs working on carbon neutral hydrogen fuel technology will now have access to the state of the art equipment and technology as part of the new hub. Part funded with £1.6 million from the European Regional
Construction projects in Northern Ireland are set to benefit from the recent £250 million infrastructure boost provided by Chancellor Philip Hammon in the Autumn Statement. The £250 million investment will be spread over the next four year and may be used to fund major projects such as the York Street
Whatever industry you’re operating in – whether it’s construction, marketing, retail, education or something else altogether – your employees face a number of hazards. For instance, your employees might face harm from heavy machinery, noisy equipment, chemicals and electricity, or even just standard trips and falls. And that’s where you
New rules to clamp down on market manipulation by forcing energy traders to report their transactions have now come into force. Introduced in October, the first tranche of the EU’s REMIT (Regulation on Wholesale Energy Market Integrity and Transparency) data reporting rules required traders to report all exchange-based trades to the European Agency for the Cooperation of Energy Regulators (ACER). The second tranche came into effect late last week, meaning traders now also have report over-the-counter – or bilateral – trades which take place outside of exchanges. Whilst ACER is responsible for collecting the data, Ofgem is in charge of enforcing the rules in the UK. The first round was seen as being easier to comply with as much of the data was already collected by the exchanges, which were able to offer reporting services to traders. For over-the-counter transactions the data is held by the traders themselves. Speaking to Utility Week last month, energy consultant Aviv Handler raised questions over how strictly Ofgem would enforce the rules if traders failed to comply by the deadline. Source link
Procurement organisation Constructionline is holding a ‘meet the buyer event’ in Leeds next week to help subcontractors and suppliers from across Yorkshire find work. Clients booked to appear include Doncaster Borough Council, Sheffield City Council and Highways England, as well as Wates, Sir Robert McAlpine, Mears, Barhale, Clugston and Casey. Various divisions of Kier Group will also be there, under a single banner, as part of a push by the company to streamline its supply chain across the group. Stacey Burton, Kier Northern head of procurement, said: “Kier is committed to forging strong, two-way supply chain relationships that benefit all parties and provide a first-class service for our customers. “Supply chain management is a key focus of all our workstreams and we are delighted to be able to support this event as a combined team. It is one of the first times that all facets of Kier will be represented from construction to services to regional supply chain and it offers the attendees the opportunity to engage with us at all levels, touching all parts of our ever growing business.” The event takes place from 8.30am until 2pm on 17th March 2016 at the Headingley Experience in Leeds LS6. To register, click here. This article was published on 10 Mar 2016 (last updated on 10 Mar 2016). Source link
Some 50% of homes sold in the UK in the last two weeks of March were bought by landlords as they sought to beat the new stamp duty deadline on 01 April, new research shows. There has been a lot of anecdotal evidence that buy to let landlords had been rushing to beat the additional homes surcharge of 3% but the monthly lettings index from Countrywide confirms this. It says that 50% of homes were bought by landlords in the final 15 days of March compared to 18% during the same period in 2015. Countrywide’s whole market estimates also show that £28 billion worth of home sales were completed in March, a 76% increase on the previous year, and overall landlords accounted for 23% homes sold in March compared to 13% in the previous year. This surge in landlord activity means more housing has been made available for tenants to rent and some 22% more homes were brought to the rental market in the first quarter of 2016 than in the same quarter in 2015 and has contributed to lower rental growth rates compared to last year. The percentage increase in the number of homes to rent has not been matched by the increase in the number of prospective tenants looking for a home which has put further downward pressure on rents. The number of tenants registering was up 16% in the first three months of 2016, compared to the same time last year. London experienced the largest increase in new rented homes, up 40% on the first quarter of 2015, but lower growth of tenant numbers, up only 8% over the same period. This has resulted in a rapid deceleration in rental price growth with rents in Greater London growing 2.9% in March, less than half the 7.4% recorded in 2015. The average UK rent rose 3.4% in the year to March 2016, two thirds of the rate in March 2015. Rents grew fastest in the East of England, increasing by 8.5% over the year. Growth in the East of England was driven by increasing numbers of new tenants registering in the first three months of the year, up 34% year on year, the highest increase of any region. ‘Quite at odds with the intentions of the policy, the first measurable effect of the introduction of the new stamp duty rate has been to increase the number of homes owned by landlords, although this will likely be a temporary affect as we see reduced investor activity in future months,’ said Johnny Morris, Research Director at Countrywide. ‘The increase in supply of homes to rent from landlords bringing forward purchases seems to have taken the edge off rental growth. A similar increase in tenants looking for a home to rent though would indicate this may not persist,’ he pointed out. ‘The large number of sharers, and people living with parents means there is a big store of pent up demand in the rental market,’ he added. BOOKMARK THIS PAGE (What is this?) Source link
More than 16 firms are set to enter the Department of Energy and Climate Change competition, which aims to identify a preferred technology for Small Modular Reactors (SMRs) to be rolled out in a series of new power plants over the next 15 years. Companies expected to take part include NuScale, Westinghouse and Bechtel, which have already put their names forward as potential partners. The government will chose the best SMR design at the end of the competition. Companies have been given until 6 May to put forward their designs and business cases, with a decision on which companies will make the next round of the competition expected in the autumn. The launch comes as the Treasury announced that it would publish an SMR delivery roadmap later this year to provide clearer timeframes for the development and delivery of the technology in the UK. This work would be supported by a £250m SMR research fund, announced by the chancellor in November’s Spending Review. Last September, Decc opened a consultation to see how many firms would be interested in developing SMR technology in the UK. Construction News understands that 16 firms put forward initial design plans. In February, Construction News reported that MPower, a joint venture between Bechtel and nuclear technology specialist BWX Technologies would be entering the race. The firm joined nuclear giants NuScale Power and Westinghouse in going public with their intention to bid. SMRs are seen as a more flexible option for providing nuclear power as they take less time to construct and can be built in a wider variety of locations than traditional plants. Since 2013, the government has been vocal in its ambition for the UK to be a world leader in the global SMR market which is expected to be worth £250bn-£400bn by 2035. Source link
More than 150 construction industry executives met yesterday for the second Health in Construction conference in the hope of improving occupational health in the construction industry. Above: Steve Perkins, chief executive of the British Occupational Hygiene Society (BOHS) The second Health in Construction event, titled ‘Committing Construction to a Healthier Future – from commitment into action’, follows on from the inaugural event held in January 2016, when more than 150 chief executives signed a charter committing to improving occupational health. Industrial-related illnesses and diseases kill 100-times more construction workers than workplace accidents, statistics show, mainly due to respiratory ailments and asbestos-related diseases. In the construction sector there were 35 fatal accidents during 2014/15. In the same period it is estimated that around 4,000 construction workers died from cancer caused by their exposure to hazardous substances while at work. The majority of these cases are lung diseases caused by exposure to asbestos (2,600 deaths) and silica (600 deaths). In the same period around 3,000 workers in the construction sector were suffering with breathing and lung problems that they believed were caused or made worse by their work, a rate significantly higher than the average across all industries. The construction industry has seen a cultural shift in safety that has led to an 80% reduction in workplace fatalities over the last 40 years. There has been no such progress in occupational health. At yesterday’s event (21st April 2016), industry leaders discussed an integrated approach to managing health in the sector and ways to reduce the risk of developing respiratory disease. Those present took away self-assessment tools to develop action plans for their organisations. Speakers included HSE chief executive Richard Judge and founding members of the Health in Construction Leadership Group Heather Bryant of Balfour Beatty and Clive Johnson of Land Securities. Thames Tideway CEO Andy Mitchell said: “Britain has a proud record on safety – it’s one of the best in the world. Our challenge is how we bring health on a par with safety. We now need to make transformational changes to eradicate the ill health effects caused by the work we do, and treat health like safety. “It’s through industry events like that of the Health in Construction Leadership Group, that we can share good practice and reach a collective agreement on the best ways to help ensure our workers are working in not just a safe environment, but a healthy one too.” This article was published on 22 Apr 2016 (last updated on 22 Apr 2016). Source link
You need JavaScript active on your browser in order to see this video. Investors who follow the leveraged loan market might be feeling a bit like a New Yorker in a downpour, or a Londoner at rush hour, trying to hail a car using Uber. With demand shooting up, they are witnessing “surge pricing”. Uber itself tapped the market last week, in a $1.15bn fundraising to fuel growth in its ride-hailing service. But overall issuance has been sluggish in the US. Merger and acquisition activity has come off the boil, meaning fewer deals that need to get financed with debt, and private equity firms are complaining that public companies are too expensive to justify launching buyouts. More On this topic The Short View So supply is tight, just as demand is returning. Last year, the largest leveraged loan ETF suffered outflows of $1.3bn, but it has made back half of that since March — helping push up the average price of a loan in the S&P/LSTA 100 index to 92 cents on the dollar from below 86 cents at the nadir in February. Leveraged loans are low risk for investors, because they have a variable interest rate and get repaid before bonds. However, the oil price collapse raised concerns about the solvency of oil explorers and other commodities plays which have borrowed in the loan market. Loan prices have appeared to move ever more closely in sync with the oil price in the past few years, but recent trading suggests that link is breaking. While the oil price has fallen back since the start of July, loan prices just keep marching ahead. That break was overdue. Oil companies account for less than 5 per cent of the index — a fact that has sometimes got lost amid all the concern about the high-yield bond market, a sister market whose index is much more heavily weighted towards the oil and gas industry. Loans offer a decent yield for conservative investors, in the region of 4 to 5 per cent. Uber, one of the riskier propositions, agreed to pay near the top of that range. As a result, with ultra-low rates looming like stormclouds over ever-larger swaths of the credit markets, demand seems more likely to increase than decrease, as long as the US economy holds up. Unlike Uber customers, loan buyers may find the surge pricing does not come to an end any time soon. stephen.foley@ft.com Copyright The Financial Times Limited 2016. You may share using our article tools. Please don’t cut articles from FT.com and redistribute by email or post to the web. Source link
In October the residential sector unexpectedly reached a huge £2.3 billion worth of construction contracts for the month. This was despite the sharp falls in the construction industry after the immediate aftermath of the Brexit vote. The November edition of the Economic & Construction Market Review from industry analysts Barbour ABI states that the residential sector monthly contract value rose by 34% in October in comparison to September. Builders Persimmon and Taylor Wimpey both also registered growth in its order books, with the former reporting a 19% increase in sales rates. In construction overall, contracts were up in October reaching £5.9 billion, which is an increase of 5% on the previous month. However, a number of sectors are yet to recover from the Brexit vote slump in the same way that the residential construction industry has – particularly in infrastructure, with contract values down by 42% in October compared with the same time last year. Since the July referendum, Commercial & Retail, Industrial and Medical & Health have also struggled to get some momentum going. Lead economist at Barbour ABI, Michael Dall, said that the turnaround for housebuilding in October will give industry leaders, investors and the government much needed breathing space. Dall added: “However, the majority of the other construction sectors continuing to lag after the post-Brexit vote is a cause for concern, particularly infrastructure and commercial & retail, two sectors that are usually accurate indicators of how the overall economy is performing. “Housebuilding now beginning to thrive is no major surprise, as the strain on housing stock and government targets have become a matter of national attention. “What did actually surprised was the significantly large value of residential construction contract this month, reaching £2.3 billion, the highest monthly figure ever recorded for residential construction since Barbour ABI reporting began back in October 2010.”
A new £4 million low carbon technology hub has launched at Manchester Metropolitan University. SMEs working on carbon neutral hydrogen fuel technology will now have access to the state of the art equipment and technology as part of the new hub. Part funded with £1.6 million from the European Regional Development Fund, the Manchester Fuel Cell Innovation Centre (MFCIC) will support businesses in the development of low carbon fuel cells which may soon be powering everything from cars to homes. The centre will be geared towards the production of fuel cell materials that use 3D printing and nanomaterials, while also plotting out the hydrogen and fuel cell infrastructure of the Manchester area. Hydrogen fuel cells, which work by converting hydrogen into oxygen and water to create electricity, have been widely tipped as a sustainable way for the UK to meet its energy needs in the coming decades. Interim Pro-Vice-Chancellor for the Faculty of Science and Engineering, Dr David Lambrick, said: “This is truly a ground-breaking initiative to drive forward innovation in our SMEs, develop emission-free energy and firmly position Manchester as a worldwide centre of excellence in fuel cells. “The big challenge for the 21st century is how we create a sustainable future while meeting demand for energy, which will only continue to rise in the coming years. “Fuel cells are a fundamental part of the hydrogen economy and what we have at Manchester Metropolitan is the expertise in advanced materials, nanotechnology, smart grid technology and business development.” Manchester is developing a strong reputation for low carbon technology with more than 2,000 companies currently providing low carbon environmental goods and services in Greater Manchester, employing almost 40,000 people. This new facility is part of Manchester Metropolitan’s Greater Manchester Hydrogen Partnership (GMHP) which is bidding to cement the region’s growing reputation in the sector by collaborating with government, industry and academics.
Construction projects in Northern Ireland are set to benefit from the recent £250 million infrastructure boost provided by Chancellor Philip Hammon in the Autumn Statement. The £250 million investment will be spread over the next four year and may be used to fund major projects such as the York Street Interchange in Belfast city centre. Chancellor Hammond also froze fuel duty for a seventh successive year – a measure that is likely to save car driver around £130 each year. The national living wage has also been increased to £7.50 per house from April, which is a 30 pence rise. Meanwhile, businesses and universities in Northern Ireland will benefit from the decision to increase funding for innovation and research by £2 billion per year by 2020-21. Managing Director of the Construction Employers Federation (CEF), John Armstrong, said that the industry had been facing difficult times. He explained: “The additional £250m of capital expenditure, over the coming four years, announced by the Chancellor is therefore a welcome boost for the local construction industry. Finance Minister Mairtin O Muilleoir also said the extra funding was “welcome”, but that lower economic forecasts and continued austerity – such as benefit cuts – meant that there was still “turbulence” ahead. Mr O Muilleoir is to tell the Assembly what he will do with the extra funding next month. Ahead of the Autumn Statement, it had been billed as one that would help a section of the population known as the ‘just about managing’ (JAMs). However, overall it was a cautious exercise by the Chancellor, who emphasised that the resulting economic uncertainty from the Brexit vote meant that growth forecasts were being revised down. Growth is expected to be at 2.1% this year and 1.4% next year – with a trend of about 2% every year through to 2020.
Whatever industry you’re operating in – whether it’s construction, marketing, retail, education or something else altogether – your employees face a number of hazards. For instance, your employees might face harm from heavy machinery, noisy equipment, chemicals and electricity, or even just standard trips and falls. And that’s where you come in. It’s your responsibility as an employer to ensure that you’re able to identify, manage and minimise the risks your employees face in a busy working environment. There are a number of rules and regulations on the matter, and penalties for non-compliance are severe… and that’s not to mention the cost of lost business, lost man-hours and a damaged reputation with clients and customers alike. So, here’s a very brief overview of how to minimise risks in your busy working environment. However, be sure to investigate your responsibility further using information from charities such as ROSPA (The Royal Society of the Prevention of Accidents), or guidance from the Health and Safety Executive. First, identify the hazards your employees face This is the starting point for reducing risks. Think about the environment, the processes and materials that have the potential to harm your employees, noting them down. Always ask for a second opinion, getting additional people involved – extra eyes are always a good idea. Then, refer back to your accident and sickness records: can you spot any hazards that are causing employees harm? It’s also a good idea to check guidance from the manufacturers of the equipment and substances you’re using, as they’ll often explain the hazards your employees are likely to be exposed to. Then, evaluate the risks and decide how you’re going to take action Next, you’ll need to decide how likely it is that harm will occur, and put some measures in place for reducing that chance. Don’t expect to eliminate risk completely, but do focus on the things you could do to reduce the likelihood of harm. For instance, can you change a process to circumvent dangerous practices? Can you issue protective clothing, install safety equipment or devise training programmes to better protect your employees? Be sure to record your findings, and report incidents and near misses whenever they arise There’s a lot you can learn when things go wrong, and taking a proactive attitude to it will hopefully mean that the level of risk your employees are exposed to will lessen over time. Finally, ensure you have adequate resources and software to manage risk One of the biggest obstacles for businesses managing risks in the workplace is that they simply don’t have the resources required to ensure everyone is as safe as they can be. So, consider investing risk management software available from providers such as Airsweb. Good quality software will equip you with tools such as best practice templates for employees to refer to, a centralised risk register, and the ability to check that the right employees have read risk assessments – ultimately, it gives you a centralised place to refer to and report back in to.
