During National Apprenticeship Week, we are celebrating the work and the positive impact apprenticeships have on individuals, businesses and the wider economy. One CITB apprentice who has made his mark is Alec Curtis, 21, from Hereford, who this month saw a 4ft stone cross he crafted being installed in Hereford
A round up of some of the week’s most significant corporate events and news stories. Insider traders sentenced in wake of Tabernula probe A former corporate broker at Lehman Brothers and Deutsche Bank who once advised the government on its bailed-out banks landed a record four-and-a-half year sentence for insider
Recofloor has announced the three winners of its Red Letter Days Summer Promotion held throughout August to encourage more flooring companies to recycle their waste vinyl flooring through Altro and Polyflor’s scheme. Recofloor has announced the three winners of its Red Letter Days Summer Promotion held throughout August to encourage
Ofwat will set a three-year price control for non-household retail activities from 2017, after the proposal received “strong support” from water companies. The regulator said this three-year price control would align with the existing controls for wholesale and household retail, which come to an end on 31
Aarsleff Ground Engineering has started its largest ever project in the UK – installing piles for homeware retailer The Range’s new distribution centre in Avonmouth, Bristol. Above: Aarsleff building foundations for The Range’s new distribution centre The £100m big shed is being built by McLaren Construction for developer Stoford Properties.
Land around railway stations is being targeted for housing development under a new agreement between Network Rail and the government’s Homes & Communities Agency. Above: Land around railway stations is being targeted for development The plan is to work with local councils to build thousands of new homes. Government wants
Oceanair Marine Ltd has appointed Justine Heeley as the new Managing Director starting from the 18th of June 2018. Justine brings with her a vast experience of handling executive positions within the Marine Industry. She was formerly CEO of Orolio UK (part of the McMurdo Group), prior to this she
A new upmarket commercial build in Edinburgh city centre benefited from Aggregate Industries’ innovative Lytag, when it came to helping to lighten its load. Located in the heart of the city’s Exchange District, the £24 million 2 Semple Street development has been designed to help alleviate the Scottish Capital’s chronic
GSS Architecture and Couch Perry Wilkes have revealed plans for a brand new primary school. New Lubbesthorpe Primary School will be located within the new community of Lubbesthorpe, near Blaby, Leicestershire. The 420-place primary school is the first of three schools – a mix of two primary and one secondary
Anel Group has been handed a Silver in the internationally-renowned RoSPA Health and Safety Awards, in recognition to its practices and achievements in helping its staff get home safely at the end of the working day. They were presented with the award during a ceremony at ExCeL, London on Tuesday,
BDC 319 : Aug 2024
During National Apprenticeship Week, we are celebrating the work and the positive impact apprenticeships have on individuals, businesses and the wider economy. One CITB apprentice who has made his mark is Alec Curtis, 21, from Hereford, who this month saw a 4ft stone cross he crafted being installed in Hereford Cathedral. Alec is a stonemason working for Hudson Stonework based in Hereford. He used the traditional technique of chiselling to make the cross on behalf of IJ Preece as part of nine-month restoration project supported by the Department for Culture, Media and Sport and ChurchCare, as well as the Headley Trust. The cross took two months to create, which has been made to replace a cross on the cathedral’s Tudor booth porch. The original is believed to have been removed soon after building work was completed on the porch in 1518! Alec said: “I’m incredibly proud to have made the cross and it was fantastic to attend the blessing with my parents when the cross was installed. “Coming from Hereford, it’s fantastic to have my work installed in the cathedral that will be there for generations to come.” He is now coming to the end of his apprenticeship, which he describes as a “very positive experience which has helped me grow as a person” Alec chose to do an apprenticeship in stonemasonry as he was always interested in doing hands-on practical work and had an interest in art. He recalls how he applied for his apprenticeship. “I spotted an advert that Simon, the owner of Hudson Stonework, had put in the local paper and I was interested to find out more. “With the support of my parents, I spoke to Simon and was subsequently offered the apprenticeship. Simon and his wife Beth have been so supportive of me and my career to date and given me this fantastic opportunity. “I would highly recommend an apprenticeship to anyone, it really is the best thing you can do.” Alec hopes to one day use his skills around the world and is interested in the idea of traveling as a traditional journeyman – an individual who has completed an apprenticeship and is fully educated in a trade or craft, but not yet a master. “The skills I have learnt during my apprenticeship can be used across the world,” he says. “I hope to travel one day as a stonemason, perhaps starting in Denmark and continuing my travels from there.” Source link
A round up of some of the week’s most significant corporate events and news stories. Insider traders sentenced in wake of Tabernula probe A former corporate broker at Lehman Brothers and Deutsche Bank who once advised the government on its bailed-out banks landed a record four-and-a-half year sentence for insider trading this week, the culmination of a 12-week trial and an eight-year £14m investigation by the UK’s markets watchdog, writes Caroline Binham. Martyn Dodgson (left) and Andrew Hind Martyn Dodgson was found guilty earlier this week of a single count of conspiracy to insider trade with his close friend, Andrew Hind, an “odd” technophile geek and a former finance director at Topshop. Hind received a three-and-a-half-year sentence. Dodgson, who earned £600,000 at Deutsche in 2009, was found guilty of passing information he gleaned from his work to Hind, who would then place trades through two “prolific” day traders, Iraj Parvizi and Ben Anderson. Those two traders, along with Dodgson’s friend Andrew “Grant” Harrison, were acquitted by the jury at London’s Southwark Crown Court. Hind kept meticulous records of the profits of the scam, labelling Dodgson “Fruit”. For his part, Hind was known as “Nob” by the traders. The nicknames were just one feature of a conspiracy that included military-grade encryption devices, Panamanian bank accounts, cash payments and pay-as-you-go mobile phones. The case, known as Tabernula — Latin for “little tavern” — was the Financial Conduct Authority’s most complex and high-profile, made public with dawn raids across the City in 2010. It was the first time the FCA used covert recordings and surveillance in an insider-trading case. Tabernula has already netted three guilty pleas from a former hedge fund trader, an ex-equities trader, and a former broker. ● Related Lombard note: Last Chance Tavern Clothing stores suffer weak results on strong dollar It was a bleak winter for American retailers and spring did not bring any sun. Clouds are also hanging over the rest of the year, writes Lindsay Whipp. ©Getty A string of disappointing first-quarter earnings at companies from Gap to Nordstrom underscored the struggle facing the US’s best-known names in selling their wares, particularly clothing. Even more concerning was the lack of visibility at companies such as Macy’s for the rest of the year. Gap issued a profit warning along with yet another month of falling sales at its three key brands, prompting Fitch to cut the company’s credit rating to junk status. Macy’s said its comparable store sales would drop 3-4 per cent this year instead of a previously estimated 1 per cent. Kohl’s first-quarter sales dropped 3.7 per cent to $3.97bn. Even Nordstrom — whose ability to attract the younger generation of shoppers has helped it outshine rivals — disappointed, with comparable sales falling for the first time in 25 quarters. It also cut its profit forecast for the year and is expecting earnings of $2.50-$2.70 per share compared with its earlier forecast of $3.10-$3.35. The weak earnings highlighted how consumers are increasingly expecting discounts when it comes to buying clothes, while the strong dollar has been putting off tourist spending. However, these traditional retailers have a bigger threat to deal with in Amazon. Morgan Stanley estimates that the online behemoth is the second-largest apparel retailer after Walmart, with 7 per cent of the overall market. ● Related Lex note: US retail — in a box VW’s pay back in spotlight Pay at Volkswagen was back in focus this week after the German carmaker cut its annual bonus payments to staff on Friday by a third in the wake of the emissions scandal. This comes days after it emerged that the hurdles set by management to recoup their withdrawn bonuses would be easy to clear, writes Patrick McGee. Meanwhile the German carmaker on Friday also turned to China to issue its first corporate bond since the scandal, raising Rmb2bn (€270m) by issuing three-year debt — the first time it has sold a renminbi bond. ©AFP VW widely trumpeted last month that €4.2m of management pay was being withheld because of the emissions scandal, but an analysis of the deal reveals that management can actually double the waived amount if VW shares do just moderately well. The agreement the supervisory board reached in late April was that if VW preference shares recover 25 per cent by 2019, management receives the waived bonus back — plus share appreciation and dividends. If shares have not recovered, they receive nothing. “This will present both a risk and an incentive,” Volkswagen said. Crucially, however, the starting point for measuring the 25 per cent rise is just €112 per preference share — the 30-day average to April 22, when VW revealed a €1.6bn net loss for last year. The carmaker said on Friday it will pay its in-house employees a €3,950 bonus for 2015, which is down from the €5,900 that the staff received for 2014. The figure applies to the company’s in-house workers — about 120,000 people. Before VW admitted to equipping 11m diesel cars with emissions test-cheating software, the shares had averaged €208 in 2015, peaking at €255 in April. Christian Strenger, a senior governance expert, called the starting point of €112 “unjustifiably low” as the share price at the time of the board decision was already €126. “For the doubling up of the postponed bonus, which is hard to detect in the annual report, the minimum hurdle should be at least €196. This was average share price of what investors paid in good faith in 2014 and 2015,” he added. “Otherwise it’s ludicrous and would contravene German company law.” Moreover, the terms stipulate that management can double the amount withheld — if shares rise 50 per cent, to €168, according to Mr Strenger’s calculations. Meanwhile, VW renminbi bond issuance on Friday came as latest car sales figures show VW continuing to lose market share in Europe. The carmaker fell to its lowest market share in Europe in four years, after rivals notched up faster sales growth between January and
Recofloor has announced the three winners of its Red Letter Days Summer Promotion held throughout August to encourage more flooring companies to recycle their waste vinyl flooring through Altro and Polyflor’s scheme. Recofloor has announced the three winners of its Red Letter Days Summer Promotion held throughout August to encourage more flooring companies to recycle their waste vinyl flooring through Altro and Polyflor’s scheme. Congratulations to 3D Flooring Supplies, Cardiff; 3D Flooring Supplies, Taunton and PenAlyn Property Maintenance Services, St Asaph who have each won a £100 Red Letter Days Gift Card to spend on an ‘unforgettable experience’ of their choosing. Every flooring company raising a Recofloor collection throughout August and returning a minimum of either two full bulk bags or two full blue bins qualified for the prize draw. Throughout the month, a total of more than 30 tonnes in 35 collections were sent for recycling – nearly 25% up compared to July. Launched seven years ago by leading flooring manufacturers Polyflor and Altro, more than 3,000 tonnes of waste vinyl flooring has now been recycled through Recofloor. This is equivalent to well over one million square metres of flooring and enough to cover 138 football pitches. Steve Llewellyn, Branch Manager at 3D Flooring Supplies, Cardiff comments: “We had a busy month in August and Recofloor is working very well for us. We’re delighted to have won the prize.” Glyn Sparks, Trade Counter Sales Assistant at 3D Flooring Supplies, Taunton says school refurbishments contributed to a really busy month and a rise in the number of their Recofloor collections of both uplifted flooring and offcuts. “Being part of Recofloor is important for us; it saves on disposal costs and the waste flooring gets recycled, which is ideal.” Having had their first Recofloor collection in August, new members PenAlyn Property Maintenance Services, part of the Pennaf Housing Group based in St Asaph, North Wales are now firmly convinced of the benefits. “For years we’ve been paying to dispose of our waste vinyl so the savings on disposal costs will add up every week for us; it’s already making a difference,” says Andy Fraser, Planned Maintenance Manager and a self-confessed recycling advocate at PenAlyn. “I was keen to recommend Recofloor membership and, being involved in a major long-term housing refurbishment programme, there is a lot of potential for savings and diverting waste vinyl flooring from landfill,” he adds. The company is planning to use the prize to raise funds to donate to charity. Recofloor’s Project Officer Carla Eslava says: “Our August promotion once again proved very popular and volumes were up on the previous month, increasing the amount of waste vinyl sent for recycling. Thank you to everyone who participated.” Flooring companies can save up to 75% in disposal costs and reduce their environmental impact by recycling post-installation vinyl flooring off-cuts and uplifted vinyl flooring through Recofloor. Enhanced green credentials can also help them to gain new business. Recofloor has 700-plus collectors and more than 60 drop-off sites across the UK and Ireland. Signing up is easy and further information about Recofloor is available from www.recofloor.org. Contact 0161 355 7618 or email info@recofloor.org. Source link
Ofwat will set a three-year price control for non-household retail activities from 2017, after the proposal received “strong support” from water companies. The regulator said this three-year price control would align with the existing controls for wholesale and household retail, which come to an end on 31 March 2020. This will allow it to monitor how competition is developing in the non-household retail market, and deal with any further cost allocation issues that might emerge between retail and wholesale and/or non-household and household retail. At PR14, Ofwat moved away from price controls covering the whole of the water and wastewater supply chains, and set separate price controls for wholesale water, wholesale wastewater, household retail, and non-household retail. The non-household retail price controls were set from 1 April 2015 for a period of two years – taking account of representations from water companies that there would be advantages in reviewing these arrangements before the market opens in April 2017. The regulator also outlined how incumbent companies will be required to complete and assure standard data tables if they are seeking to rebalance the allocations of costs and margins between default tariff caps. The majority of respondents to its consultation in last November considered the current timetable to be too tight, with insufficient time for companies to prepare business information and complete data tables. Potential market entrants and some incumbent companies also indicated that final determinations due to be published in December 2016 should be brought forward to allow better information ahead of market opening. Ofwat said it would publish a draft statement of method in March rather than April, and has moved back the date by which companies need to provide data tables until later in July so companies can better take into account audited information from 2015/16. However, the regulator said it is “not practicable” to bring forward final determinations. Ofwat also said it had not found any compelling evidence that suggests it should revise the overall non-household retail net margin of 2.5 per cent allowed at PR14. Source link
Aarsleff Ground Engineering has started its largest ever project in the UK – installing piles for homeware retailer The Range’s new distribution centre in Avonmouth, Bristol. Above: Aarsleff building foundations for The Range’s new distribution centre The £100m big shed is being built by McLaren Construction for developer Stoford Properties. Work started on site in July 2016 and Aarsleff is installing more than 15,000 precast piles to support both the main slab and roof stanchions of the completed structure as well as a number of peripheral buildings, such as sprinkler tank bases. The majority of piles for the project will be 250mm section DPC, with the remainder being 300mm piles, with ground conditions expected to be a significant depth of tidal flat deposits. The piles will be bearing onto Mercian Mudstone, which is typical of the strata suitable for a DPC approach. Aarsleff general manager Kevin Hague said: “This is the largest piling project that Aarsleff UK has ever undertaken in its 25-year history and is a tremendous vote of confidence in our precast piling solutions. It is also our first project for McLaren Construction and given the scope of works it highlights the high degree of trust they have put in us, the result of our previous dealings with them and our industry reputation.” Aarsleff supported McLaren’s bid for the project to assess the likely cost implications of various loading scenarios for the then unconfirmed roof loadings. Aarsleff also highlighted the twin issues of both negative skin friction and the cost implications of using various joint types, to inform client-contractor negotiations. Further Images This article was published on 30 Sep 2016 (last updated on 30 Sep 2016). Source link
Land around railway stations is being targeted for housing development under a new agreement between Network Rail and the government’s Homes & Communities Agency. Above: Land around railway stations is being targeted for development The plan is to work with local councils to build thousands of new homes. Government wants to hear from at least 20 local authorities to take the scheme forward. York, Taunton and Swindon councils have already come forward with proposals to spearhead the new initiative and have identified railway sites that could be pooled to deliver housing and other locally-led regeneration. Communities Secretary Greg Clark said: “We’re determined to fire up communities and back local business so they build much needed housing and create thousands of jobs. Rail stations are a hub of communities, connectivity and commerce and should be making the most of their unique potential to attract investment and opportunities. “With record numbers of people travelling by train, it makes sense to bring people closer to stations and develop sites that have space for thousands of new homes and offices. “This new initiative will bring about a step change in development and ensure we go further and faster in putting these rail sites to good use.” Proposals suggest that land at York Central station can support up to 2,500 homes. Housing would be key to creating a sustainable new community and would include Starter Homes and community facilities. Around 100,000 square metres of office and commercial space for private sector firms could also be built. Plans at Taunton station envisage a significant increase in commercial spaces and homes in an underused site on the edge of the town centre. Remodelling of the station layout and car park, supported by the Local Growth Fund would complement this development. The area around Swindon station could provide opportunities to boost housing in the town by creating homes and commercial opportunities taking advantage of the benefits brought by the Great Western Electrification Programme. Swindon has plans for the regeneration of its town centre; redevelopment of land around the station would help to maximise and enhance these opportunities, the council believes. This article was published on 11 Apr 2016 (last updated on 11 Apr 2016). Source link
Oceanair Marine Ltd has appointed Justine Heeley as the new Managing Director starting from the 18th of June 2018. Justine brings with her a vast experience of handling executive positions within the Marine Industry. She was formerly CEO of Orolio UK (part of the McMurdo Group), prior to this she was Managing Director of Drew Marine Signal & Safety and formerly Managing Director of Chemring Marine. “I have always admired Oceanair as a company that continues to show solid growth and pushes the boundaries of design and manufacturing. As part of Dometic, I am looking forward to taking the business to the next level, delivering quality, value and prosperity to our customers, shareholders and staff,” commented Justine on her appointment. Justine is the successor of Andy FitzGerald – the founder of Ocean Marine Ltd. During its 28 years of existence, Oceanair has always strived to deliver high-end customer satisfaction by designing and manufacturing elegant solutions to the world’s leading production boat builders, superyachts, luxury properties, commercial and RV market. “The appointment of Justine is an exciting next chapter for Oceanair, we are all looking forward to working with her. We will benefit from the knowledge and expertise she has gained throughout her career; this will be pivotal in ensuring we continue our journey of growth and expansion,” said Donna Wearn, Group Human Resources Director. Founded in 1990, Oceanair Marine Limited continues to be the world’s leading supplier of blinds, shades, screens, and soft furnishings in the marine market. A sustained commitment to excellence has been recognised with no less than three Queen’s Awards for Enterprise in International trade. Oceanair products are exported to over 37 countries, supplying internationally renowned brands. 25 years on, the company now supplies Leisure marine, Superyacht, Residential, Commercial and RV sectors. The Oceanair range includes systems for windows, hatches, portlights and doors. In addition, a range of soft furnishing products (curtains, cushions, upholstery, bedspreads and throws) are available for any interior. Oceanair products are designed and manufactured in a state-of-the-art facility in Selsey, UK or in the United States office, manufacturing and distribution facility.
A new upmarket commercial build in Edinburgh city centre benefited from Aggregate Industries’ innovative Lytag, when it came to helping to lighten its load. Located in the heart of the city’s Exchange District, the £24 million 2 Semple Street development has been designed to help alleviate the Scottish Capital’s chronic shortage of Grade A office accommodation. The newly-opened building boasts 45,000 sq ft of cutting-edge office and retail space, over five storeys. In terms of the flooring specification the challenge for awarded concrete and screed specialists, Advance Flooring Solutions was to procure a concrete solution which would enable minimal size slabs and help reduce the overall dead load of the building. The specialist then chose Lytag from Aggregate, which is a highly innovative lightweight concrete that can effectively reduce the dead load of approximately 25% over normal weight control, while offering the same level of structural performance. “Lytag is a fantastic product which was well-matched to this high calibre project for the Scottish capital. Supported with a meticulous delivery plan, the concrete supply was first-class from Aggregate Industries – we’d like to pass on our thanks to all involved,” said Stephen McKenna, Commercial Manager at Advance Flooring Solutions. In total, 744 m3 of Lytag was supplied for the completion of the five floors over the course of eight months. This was supported with a robust delivery framework ensuring that all batches arrived on time and to the exact specification – thus negating the risk of cold joints. In production for more than 50 years, Lytag secondary aggregate is made using innovative technology which transforms fly ash into small pellets which are then heated to 1,100°C. The pellets formed are rounded in shape and range in size from 14 mm down to fines and can be used as a superior, consistent, lightweight aggregate. Aggregate Industries is a leading company in the construction and infrastructure industries. It produces and supplies a wide range of construction materials including aggregates, asphalt, ready-mixed concrete and precast concrete products. It also produces, imports and supplies cementitious materials and offers a national road surfacing and contracting service.
GSS Architecture and Couch Perry Wilkes have revealed plans for a brand new primary school. New Lubbesthorpe Primary School will be located within the new community of Lubbesthorpe, near Blaby, Leicestershire. The 420-place primary school is the first of three schools – a mix of two primary and one secondary school – to be unveiled to meet the needs of the 4,250 home development. The building design, developed by GSS Architecture, is based on a green philosophy that encourages green spaces. The outside is brought in with a focus on natural light and playful colours inside the building. “There were many different factors to consider when designing New Lubbesthorpe Primary School especially as the school will inform the style of the future community buildings on the development,” said Tom Jagger, associate at GSS Architecture. “The masterplan is also centred, aside from creating a green, eco-friendly site, on forming an open square for the village that will be a central spot that responds to the surrounding site and offers a sense of community in the budding development.” The school consists of single storey accommodation, which will include 14 classrooms, a learning resources centre, hall, kitchen, staff room, a studio and specialised room and the reception along with plenty of circulating space. CPW, a national M&E engineering consultancy with extensive experience in the education sector, was brought on board by the architecture firm to support with the mechanical and electrical assessment on the project. “We want to achieve a BREEAM rating of good so there is good daylighting throughout the school and the electrical lighting has been thoughtfully designed with the use of low energy LED luminaires throughout. Similarly, the mechanical services solution reliably provides a suitable environment while minimising energy consumption – this is in keeping with the green philosophy of the project,” commented Matt Wrate, director and head of the CPW Leicester office. The design team also includes the project manager and quantity surveyor, Bentley Project Management, Rodgers Leask, the structural engineers, and Secured by Design which provided guidance on the overall project.
Anel Group has been handed a Silver in the internationally-renowned RoSPA Health and Safety Awards, in recognition to its practices and achievements in helping its staff get home safely at the end of the working day. They were presented with the award during a ceremony at ExCeL, London on Tuesday, June 19, 2018. “At AnelGroup, Occupational Health and Safety is a culture rather than an obligation to us. Our goal is to ensure that all our employees get back to their homes and loved ones safely and feel certain about their safety by the end of a workday. For this purpose, all our employees and each level of management contribute Health and Safety management system from A to Z,” said Engin Yarlıgan, Anel Group’s Project Manager. The RoSPA Awards scheme receives entries from organisation all over the world due to the fact that they recognise achievement in health and safety management systems, including practices such as leadership and workforce involvement. “The RoSPA Awards are the most highly-respected in the health and safety arena, with almost 2,000 entrants every year, and allow organisations to prove excellence in the workplace, demonstrating a commitment to the wellbeing of not only employees but all those who interact with it,” said Julia Small, RoSPA’s head of qualifications, awards and events. Competitive awards go to the best entries in 24 industry sectors including construction, healthcare, transport and logistics, engineering, manufacturing and education. There are specialist awards for health at work, environmental management and fleet safety, and excellence trophies for the best international, new entry, workforce involvement and organisation operating or based in Scotland. The majority of awards are non-competitive and mark achievement at merit, bronze, silver and gold levels. Gold medals, president’s awards, orders of distinction and the Patron’s Award are presented to organisations sustaining the high standards of the gold level over consecutive years.
