NAEA responds to Government action plan In April 2016 the Home Office and HM Treasury published its Action Plan for anti-money laundering and counter-terrorist finance and NAEA has made its views known regarding the role of Suspicious Activity Reports and Supervisory Regimes for anti-money laundering. The Government’s strategic response to
A number of media outlets have reported today (Wednesday 18 May 2016) that a university plans to ban their students from throwing mortar boards in the air on graduation day for health and safety reasons. HSE has provided a response to this age-old myth: Geoff Cox, who heads the Health and Safety Executive public
Browser does not support script. Contact us The average new three bedroom home in Yorkshire is 25 sq smaller than one in London. More than half of the new homes being built today are not big enough to meet the needs of the people who buy them, according to new
The company said its pipeline had grown by £500m following its acquisition of United House Developments’ regeneration business in September 2015. Telford Homes will continue to expand into the private rented sector after securing two schemes this year, including a £69m deal to deliver a 150-home scheme in east London
Henrik Poulsen, the chief executive behind the world’s biggest stock market listing this year, sees a common thread in his career progression. “I moved on when things were in calmer waters again,” the 49-year-old told students at Aarhus University two years ago. This is now something to ponder on for
One of Britain’s leading solar entrepreneurs is set to announce that his business has gone into liquidation, in the third high-profile casualty for the sector this month. Howard Johns, the former chairman of the Solar Trade Association and a Government adviser on renewable energy, is expected to blame the collapse
Crude oil’s quiet slide from its 2016 high sharpens questions about the outlook for the commodity ©Bloomberg Since oil prices hit a year-high above $52 a barrel in June they have slipped almost 20 per cent, leaving them on the cusp of a new bear market and heaping more pressure
SPIE UK are a company that specialize in delivering special forms of security to their clients and have in the last few days been awarded with a special couple of projects to implement for the Clackmannanshire Council in Scotland. It is clear that through this involvement with a Scottish council
The area of Clackmannanshire will hugely benefit in the coming years from the superb services of SPIE UK, who have already completed a number of other building and design projects to make the area a more than secure area for its local residents, particularly those from less advantaged backgrounds in
The Bright Futures Charity located in the South Shields area of the United Kingdom is dedicated towards supporting young mothers and giving them the chance to do not put their work at risk when they have children. With more and more zero-hour contracts being issued and with job security at
NAEA responds to Government action plan In April 2016 the Home Office and HM Treasury published its Action Plan for anti-money laundering and counter-terrorist finance and NAEA has made its views known regarding the role of Suspicious Activity Reports and Supervisory Regimes for anti-money laundering. The Government’s strategic response to money laundering is founded upon a risk-based approach. The Action Plan aims to establish a much more effective public-private partnership to tackle illicit finances and make the UK a more hostile place for those seeking to move, hide or use the proceeds of crime or corruption. The Government plans to do this through stronger partnership with the private sector, amongst other things. NAEA responded to this consultation arguing that before the Government introduces new laws there are issues that should be initially addressed by the Government to help estate agents ascertain further information about the customer. For instance, making it a legal requirement for the ultimate owners of property to be publically available in the Land Registry. NAEA said that, while estate agents should already be scrutinising unusual transacations or customer behaviour: “Before the Government changes the focus of the Suspicious Activity Report (SARs) regime, NAEA believes the Government should be doing more to increase standards of compliance with existing regulations. For instance, the Government’s report in October 2015 highlighted concerns over the quality of reporting from the estate agency sector. “The report states that National Crime Agency (NCA) analysis of SARs from estate agents indicated that SARs lacked clarity in their reason for reporting, indicating a lack of general understanding of the requirement and purpose for doing so.” Source link
A number of media outlets have reported today (Wednesday 18 May 2016) that a university plans to ban their students from throwing mortar boards in the air on graduation day for health and safety reasons. HSE has provided a response to this age-old myth: Geoff Cox, who heads the Health and Safety Executive public sector team, said: “You’d think universities would study history and do a bit of research before repeating tired health and safety myths like this one. The banning of mortar board tossing on supposed ‘health and safety’ grounds is one of our most popular myths and actually appears in our Top 10 all-time worst health and safety excuses. “As far back as 2008, HSE made clear the law does not stop graduates having fun and celebrating their success in the time-honoured fashion. The chance of being injured by a flying mortar board is incredibly small and it’s over-the-top to impose an outright ban. We usually find the concern is actually about the hats being returned in good condition.” ENDS The university later clarified its position and the tradition will carry on. Good news! Source link
Browser does not support script. Contact us The average new three bedroom home in Yorkshire is 25 sq smaller than one in London. More than half of the new homes being built today are not big enough to meet the needs of the people who buy them, according to new research published today (Wednesday 2 December) by the Royal Institute of British Architects (RIBA). This squeeze on the size of our houses is depriving thousands of families of the space needed for them to live comfortably and cohesively, to eat and socialise together, to accommodate a growing family or ageing relatives, or even to store possessions including everyday necessities such as a vacuum cleaner. RIBA’s #HomeWise – Space Standards for Homes published today, reveals: On average buyers of a new three bedroom home are missing 4 sqm – that’s the size of a family bathroom. The smallest three bedroom homes surveyed by RIBA are missing space equivalent to an entire double bedroom. Homes in Yorkshire are by far the smallest in England – the average new three bedroom home in Yorkshire is 25 sq smaller than one in London. At only 84 sqm, the average new home in Yorkshire is smaller than one on London by the equivalent of a double bedroom and a family living room. RIBA is using this research to make the case for an urgent amendment in legislation currently passing through Parliament to end to the building of sub-standard homes: In October 2015 new rules were introduced to allow local authorities to set minimum sizes (space standards) for new homes, but the process is extremely complex and onerous The level of administration required means that it will take several years for local authorities to adopt any changes The space standard doesn’t apply to all new homes, for example for housing developments that are created under new rights that allow the change of use from office to residential use RIBA is calling for a national space standard that applies to all homes, in every location. RIBA President, Jane Duncan, said: “Tiny rabbit-hutch new-builds should be a thing of the past. But sadly our research shows that for many people, a new home means living somewhere that’s been built well below the minimum space standard needed for a comfortable home. “We urgently need new homes, but building small homes or cutting corners when converting office buildings to flats is short-sighted and fails the people these new homes are meant to serve. The Government must take action to ensure a fairer minimum space standard is applied to all new homes across the country.” The RIBA is campaigning for the national minimum space standard to be embedded within Building Regulations that set the standards for housing design. This would mean that all new homes across the country would be covered. A regulatory approach would create a level playing field and a fair housing offer wherever you live, irrespective of tenure. Notes to editors For further press information contact Howard Crosskey in the RIBA Press Office: howard.crosskey@riba.org 020 7307 3761 To download the full report, infographics and associated documents visit: https://riba.box.com/s/5l28y18nhg52qx6a394naa9ox4zacuxt The full report and associated documents will be available at www.architecture.com/homewise after the embargo has passed. Unlike most countries in Western Europe, the UK has no regulation in place to ensure that all homes are built to a proven acceptable size. The Nationally Described Space Standard 2015 is a voluntary standard that can only be introduced by a Local Authority when need and viability have been proven. RIBA first exposed the blight of tiny new houses in a 2011 report ‘Case for Space’. https://www.architecture.com/files/ribaholdings/policyandinternationalrelations/homewise/caseforspace.pdf The Royal Institute of British Architects (RIBA) champions better buildings, communities and the environment through architecture and our members www.architecture.com Follow us on Twitter for regular RIBA updates www.twitter.com/RIBA @RIBA Posted on Wednesday 2nd December 2015 Source link
The company said its pipeline had grown by £500m following its acquisition of United House Developments’ regeneration business in September 2015. Telford Homes will continue to expand into the private rented sector after securing two schemes this year, including a £69m deal to deliver a 150-home scheme in east London with M&G Real Estate (pictured). The company reported record revenue of £245.6m for the year to 31 March 2016, up by 42 per cent, from £173.5m the year before. Pre-tax profit for the year increased to £32.2m, up from £25.1m over the same period, with the firm aiming to exceed £50m within the next three years. PRS made up 24 per cent of all property sales for the year, with no comparable PRS sales the year before. The company is also looking at forming “longer-term partnerships” with institutional investors, stating that this year’s sales to L&Q and M&G were “just the start” of its expansion into the PRS market. Telford Homes chief executive Jon Di Stefano said that while there were some “justifiable concerns” over prime residential properties in London, Telford Homes’ focus on non-prime housing would help the group grow. “The group is focused on desirable non-prime locations in London at a price point that continues to see strong demand,” he said. He added that Telford Homes is operating in a sector of the market “where demand continues to significantly outstrip supply”. Other housebuilders have revealed their intention to expand into PRS, with Countryside Properties announcing in May that it would target sites in the West Midlands in partnership with developer Sigma. Source link
Henrik Poulsen, the chief executive behind the world’s biggest stock market listing this year, sees a common thread in his career progression. “I moved on when things were in calmer waters again,” the 49-year-old told students at Aarhus University two years ago. This is now something to ponder on for investors in Dong Energy, the Danish group that finally floated on the Copenhagen stock exchange this week, at the fourth attempt in les than a decade. Much of the success for the listing — and the transformation of Dong from a purely Danish utility and gas business into a global leader in offshore wind — goes to Mr Poulsen. “He’s got a quiet self-confidence,” says one of his IPO advisers. “He’s very bright, very well prepared, and ultimately he just really delivers.” But Mr Poulsen’s reputation as “a cleaner-up in Danish business” goes back well beyond Dong to his stints at toymaker Lego, pharmaceuticals group Novo Nordisk and telecoms operator TDC. He arrived at Lego in 1999 just as the plastic bricks maker slipped into deep trouble. By the time he left in 2007, he and two other top managers — including chief executive Jorgen Vig Knudstorp — had restored the business to health. “The obvious thing would have been to stay and enjoy the upturn when I had been on the hardest part of the journey” he told the students in Aarhus, where he himself received a business degree in 1994. “But I had spent seven years at Lego and couldn’t find the energy to continue.” He left Lego for Kohlberg Kravis Roberts, adding a role at the storied US private equity firm to a glittering CV that had already included a period at McKinsey in the US — where he says he received a “wake-up call” about not working such long hours. From KKR, it was a logical step to become chief executive of TDC in 2008, three years after it had become Europe’s then largest leveraged buyout — a deal that provoked angry reactions from unions and politicians. He then led TDC through two share sales by its private equity owners, overcoming any public controversy in Denmark. Given these experiences, he must have experienced some sort of déjà vu in his time as chief executive of Dong. He moved there from TDC in 2012 and landed in the middle of a troubling year for the group: its traditional gas business was struggling, in turn endangering the company’s pivot towards renewable energy. A year later, Dong faced controversy over ownership when Goldman Sachs bought a 19 per cent stake. Public anger almost brought down Denmark’s coalition government, and a bemused Mr Poulsen found Dong on the front pages of newspapers, rather than just in the business section. Related article Fidelity pulls out of Dimon governance push; Jérôme Kerviel, Valeant, Suzuki and Time Out featured Now, it is back in the headlines, having pulled off a successful listing that has more than doubled Goldman’s investment in just over two years. Dong shares rose almost 10 per cent on their first day of trading, valuing the business at DKr106.6bn ($16.2bn). So, what now for Mr Poulsen? His name is often mentioned in connection with top Danish corporate jobs, such as running shipping-to-oil conglomerate AP Møller-Maersk. One adviser thinks his broad international experience could make him a target for the likes of Royal Dutch Shell but hopes that Dong will keep hold of him as it adjusts to life as a public company. Mr Poulsen, an avid cyclist in his spare time, has said little, only that he is looking forward to some time off this summer after a gruelling schedule of investor roadshows in recent weeks. But he told the Financial Times that the “journey continues” after the IPO. “We are only getting started, and together with our highly engaged employees, I will now focus on delivering on our announced ambitions.” Source link
One of Britain’s leading solar entrepreneurs is set to announce that his business has gone into liquidation, in the third high-profile casualty for the sector this month. Howard Johns, the former chairman of the Solar Trade Association and a Government adviser on renewable energy, is expected to blame the collapse of Southern Solar on the Government for failing to support the industry properly. Earlier this month the Department of Energy and Climate Change (DECC) denied that proposed cuts of 87 per cent in solar subsidy levels have tipped solar companies into crisis. The latest collapse comes as the National Grid is expected to confirm that Britain faces the highest risk of blackouts in almost a decade this winter. The company founded by Johns has played a major role installing solar power systems for schools, local authorities and businesses. Its failure will add to the pressure on Amber Rudd, the Energy and Climate Change Secretary, to find a way of averting a growing crisis in the sector. Lisa Nandy, the shadow energy secretary, accused the government on Twitter of overseeing a “chaotic energy policy (that) is putting jobs at risk particularly because of the severe cuts they have made to solar energy schemes”. Speculation about the future of Southern Solar soured an already troubled atmosphere at the Solar UK trade show in Birmingham this week. One delegate at the show, Jonathan Selwyn, managing director of another leading solar company, Lark Energy, said the industry was steeled for more business failures. “We are all pretty angry. Every company I know is thinking about redundancies. “More companies will go bust if the government does not change track. This just puts more people on benefits. It really does not add up as a sensible government policy.” Selwyn and other executives insist the industry wants to move quickly to a point where it does not need more financial aid. Last week, almost 1,000 jobs were lost when the Leicester-based Mark Group was put into liquidation. Climate Energy quickly followed, putting a further 128 jobs at risk. In Whitehall, DECC insists that renewable power must learn to live with zero or lower subsidies. It argues that consumer bills are being driven up by the cost of green energy and solar barely needs financial aid given a fall in industry costs. The introduction of a levy control framework by the government means the total amount of cash made available to renewables and other technologies is capped. The industry insists the blame for this lies with George Osborne’s austerity programme at the Treasury rather than at the DECC. Johns was unwilling to comment ahead of a formal announcement on Thursday when he is expected to launch an angry attack on the way he feels his business has been let down by the government. Analysis It could be lights out for solar power under this governmentTerry MacalisterTerry Macalister Read moreOne of the early pioneers of the British solar scene, Johns was chairman of the Solar Trade Association from 2007-12 and sat on a heat and water taskforce advising ministers on generating heat from renewable sources. He also founded a community energy cooperative, Ovesco, and is a trained plumber as well as holding a degree in energy and environmental technology. Southern Solar has already laid off some staff in the past 12 months and more will now follow. The Solar Trade Association lobby group has told the Government that the industry’s long-term survival could be guaranteed by extending subsidies for four more years. But it said “draconian cuts” now will sink a major British success story at a time when ministers are doing all they can to support new nuclear plants. The STA has previously warned that as many as 27,000 jobs could be in danger and has pointed out that there have been a series of earlier cuts in subsidy levels over many years. Like this story? Please subscribe to our free weekly e-newsletter at the top of the page for more content like this. Source link
Crude oil’s quiet slide from its 2016 high sharpens questions about the outlook for the commodity ©Bloomberg Since oil prices hit a year-high above $52 a barrel in June they have slipped almost 20 per cent, leaving them on the cusp of a new bear market and heaping more pressure on oil companies and major producing countries that had hoped the worst of the rout was over. Here are five things traders are tracking to see if the slide continues — or if the sell-off is just a blip in a recovery. SUPPLY AND DEMAND More On this topic IN Commodities Two years since oil began its precipitous decline from above $100 a barrel, troughing below $30 in January, the market does appear to be edging closer towards balance. High-cost supplies are declining, demand has been boosted, and concerns about the impact of investment cuts on future supplies have all helped the market recover from price levels that threatened bankruptcy and economic pain across the sector. But the process of moving back to a balanced market was never going to be smooth. This summer has disappointed more bullish analysts as the two-year-old glut of crude has become a glut in products — the gasoline, diesel and jet fuel that consumers use. Refiners ran hard to meet forecasts of surging demand but may have over-egged just how much fuel was needed. Stocks of both crude and products that have built up over the past two years will need to be worked off before there can be a more sustained recovery. GASOLINE The recent decline in oil prices has several drivers but one stands out: gasoline demand has disappointed and stocks of the fuel are too high. In the US — the world’s most important gasoline market, accounting for almost one in every nine barrels of oil globally — a huge surplus is overhanging the market as the summer driving season draws to a close. Stocks are 12 per cent higher than this time last year. This is putting pressure on prices and refining margins. If it continues, refiners who had been running hard for much of the past 18-months as low prices buoyed demand may simply decide to buy less crude. That, many fear, is delaying the rebalancing of the market. This new downstream threat has also focused attention on demand, which may not be growing as quickly as many people assumed. The US Energy Information Administration recently lowered its gasoline demand growth forecast for the remainder of the year to 130,000 barrels per day, or 1.5 per cent, from 220,000 previously. Others think it is lower still. Veteran oil economist Philip Verleger reckons US gasoline consumption has increased at a rate of just 1.1 per cent this year compared to 2015. “The fall in gasoline prices will pull crude prices down,” he says. “In the absence of a disruption, do not be surprised to see Brent falling below $40 a barrel, possibly to $37, by mid to late September. FLOATING STORAGE The persistence of the oil glut has seen some traders storing crude oil and refined fuels such as gasoline and diesel aboard tankers at sea. They can partially finance the storage by selling the oil forward through the futures market where it currently fetches a higher price, thanks to a structure known as contango that is prevalent when the market is oversupplied (the opposite structure, backwardation, sees spot prices rise above future prices during times when supplies are tight). But while the contango currently covers some of the additional cost of hiring vessels it is not yet wide enough to make it a widespread trade like it was during the financial crisis, when a sudden collapse in demand made floating storage the hottest trade of 2009. Instead traders and analysts say it has largely been driven by necessity, with onshore storage already very full or locked up by rival traders in long-term deals. Indeed, outside of a few isolated geographic pockets, floating storage has declined in the past month as global supplies start to recede due to lower prices. Energy Aspects, a London-based consultancy, calculates that floating storage levels for crude and fuel oil have declined by more than 60m barrels since early June, mostly from oil held on water. “Stocks are drawing down and oil is coming out of storage, albeit the pace has slowed slightly due to high product stocks,” says Amrita Sen at Energy Aspects. “In 2014 it took seven months for prices to notice the effects of stocks starting to rise. Now it will take a similar amount of time to feel the full effect of the stock draws as so much oil has gone into storage.” RIG COUNTS When Saudi Arabia took its fateful decision in December 2014 not to reduce production to bolster prices it did so with a clear aim in mind — to rebalance the market by driving out higher-cost supplies. That put US shale producers, among others, firmly in the crosshairs. From that date oil market participants have closely followed the weekly US rig count survey complied by Baker Hughes to assess the pace of the rebalancing process. Though it is an imperfect measure, the number of rigs drilling is a guide to where US production will go after rising from 5m barrels in 2007 to 9.4m barrels last year. Since hitting a seven-year low of 316 in May, the number of rigs drilling for oil has picked up, rising to 371. Last week’s gain of 14 was the biggest increase since December. Since crude oil rose above $50 a barrel in June, drillers have put 55 rigs to work. If maintained, the increase in drilling activity should stop the decline in US oil production. The US Energy Information Administration now thinks crude production will bottom at 8.1m barrels per day in September before edging up to 8.3m b/d in November and December. Oil majors forecast a similar trend. “In the US, production continues to slowly decline and we
SPIE UK are a company that specialize in delivering special forms of security to their clients and have in the last few days been awarded with a special couple of projects to implement for the Clackmannanshire Council in Scotland. It is clear that through this involvement with a Scottish council the company is improving and expanding the amount of services that it provides and is developing better relationships with the wider community. Having worked with the council on projects before, it seems evident that the company is well geared towards providing greater forms of security for those involved, especially in the social housing sector of the community which forms the first enterprise that the company has been commissioned to complete. SPIE UK will be given a £450,000 amount in order to improve the doors and entrances of various social housing projects in the area in order to bring it up to date with the latest forms of security so that its residents in social housing can remain certain that they are safe where they are. Set to be completed over the course of the next four years, this project if anything consolidates and strengthens the already secure bonds between the security provider and the Clackmannanshire Council, who have expressed their thorough appreciation of the company’s dedication of its excellent services towards project initiatives taking place in the local community. As Paul Stevenson of SPIE UK explains, the implementation of this project over a sustained time period will ensure that the company will not disturb the residents too much and will be able to carry out the tasks at a consistent and comfortable rate that will not disturb the daily routines of the Clackmannanshire residents of the area. Indeed, this represents a great deal of success for the council, whose use of SPIE UK services will undoubtedly help to improve the lives of members of the community for the better.
The area of Clackmannanshire will hugely benefit in the coming years from the superb services of SPIE UK, who have already completed a number of other building and design projects to make the area a more than secure area for its local residents, particularly those from less advantaged backgrounds in the community that will be able to benefit from the improvements to social housing in the area that SPIE UK will be able to implement over the next half of the decade. But this is not the only project that the company has secured with the local Scottish Clackmannanshire Council, who have also signed a deal with the security company to update the various fire alarms as well as security systems in schools based around the area. In fact, a grand total of ten schools will be able to benefit from this development by the company, who will use the £200,000 contractual deal to bring the security systems in place up to date and fully tested so that the education system in the region is as secure and safe for its students and future generations of adults as possible. For the past two decades, SPIE have maintained and secured various sorts of security systems and services for the Clackmannanshire Council, and it is clear that they are the go-to reliable service that the council goes to if there are any problems with security maintenance in the area. SPIE UK are well known for their commitment to the council’s initiatives and plans, and their consistent output of good results delivered on time and within the designated budget has made them a popular friend of the council and it is hoped that these future projects will help to ensure that their relationship continues to flourish in the harsh times expected ahead. Owen Munro a Team Leader at the Clackmannanshire Council has expressed his pleasure that the company has once again agreed to help the council in making the area a safer and more secure place for people to live in.
The Bright Futures Charity located in the South Shields area of the United Kingdom is dedicated towards supporting young mothers and giving them the chance to do not put their work at risk when they have children. With more and more zero-hour contracts being issued and with job security at a greater risk for mothers going on maternity leave, it is becoming harder and harder for young mothers from less advantaged backgrounds to be able to juggle the work and family balance in equable measure. Through the support of property association Isos however, the Bright Futures charity organization has been financially aided with a total of £14,700 towards it to helping it to conduct its services to young mothers in the South Shields and surrounding area. The aim of the organization is to help women aged under 25 to get reintegrated into the workforce and to help them to settle themselves back into the challenging work environment. With such services as CV writing workshops as well as helping them with childcare options that are open to them through online internet services as well as other things such as interview guidelines, the “Young Mums and Mums to be Group” dedicates itself every day for up to 10 weeks by helping mothers of a younger demographic to cope with the many 21st Century challenges that working mothers still face on a daily basis in the United Kingdom. Indeed, the opportunities that the program offers are so broad and wide that they even enable young mums to bring their children with them to the various activity sessions that are on, showing that Bright Futures cares about reducing the stress levels of young mothers in the local area. Such initiatives as these also help to build confidence in young mothers who might want to consider other options in their lives: one young woman said that the program had given her the confidence to think about enrolling in a degree at the Open University. This is a wonderful testament to the hard work of Bright Futures in tackling issues that women face in this country.
