News Category
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Government backs major tidal energy projects
The Government is to back a range of major research and development projects that will focus on generating tidal energy at scale, while addressing the technological challenges faced in the deployment of arrays in the waters off the north and western coasts of Scotland. The UK’s innovation agency, the Technology Strategy Board, and Scottish Enterprise will undertake the work in collaboration with the Scottish Government and Highlands and Islands Enterprise. Over £6.5 million will be invested in seven ...
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RICS defines “financial viability” for planners and developers
Planners and house builders baffled by the requirement to build "financially viable" developments can now obtain guidance from the Royal Institution of Chartered Surveyors (RICS). Since the adoption of the Government’s National Planning Policy Framework, developers and local authorities can be required to demonstrate that developments are both financially viable and meet the needs of the local community. However, until now, no universally accepted definition of "financial viability" has existed, meaning that many potential projects have either ...
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British manufacturers stick with UK suppliers
Many UK manufacturers are still fearful that the risks of global trade outweigh the opportunities, according to new research from Barclays. Findings from a survey by the bank suggest an emphasis on quality and loyalty amongst UK manufacturers with businesses looking to each other for support, rather than looking abroad. Almost two thirds of those surveyed source commodities or components from the UK and when asked to name the key deterrent as far as trading overseas is ...
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Development land prices slip 0.4%
The value of residential land in England and Wales typically slipped by 0.4% between April and June 2012, according to Knight Frank. The decline comes after a 1.3% rise in values last year, as land prices continue to mirror the movement of UK house prices, which are down 0.3% since the start of 2012. The real estate firm is hopeful that constrained supply of development land, caused partly by backlogs and uncertainty in the planning system, will ...
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“Zombie” businesses stalk the UK
The UK is home to around 146,000 "zombie" businesses, according to R3. The insolvency trade body defines a zombie firm as one nearing the point of insolvency, but able somehow to hang on, with main features as follows: Just being able to pay the interest on debts, but not reduce the debt itself. In the event of a rise in interest rates, the business will be unable to pay its debt at all. Struggling to pay debts when they ...
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Small business owners innovate to stay ahead
Small business owners are increasingly diversifying and innovating as they look to capitalise on various summer events in the UK and improve their bottom line, according to Aviva’s bi-annual SME Pulse survey. The research also reveals that one quarter of SMEs expect to enjoy a boost to their business from summer events and while businesses in London are most confident in this respect, SMEs in the Midlands, Yorkshire and the North East are similarly optimistic. However, there ...
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Superfast broadband for Wales by 2015
First Minister for Wales, Carwyn Jones, has announced a new deal with BT which aims to deliver Next Generation broadband to 96% of homes and businesses in Wales by the end of 2015. Outlining details at his monthly news conference, Mr Jones explained how the project will use public and private funds to deliver fibre broadband to parts of the country not covered by commercial plans. On completition, more than 1.3 million premises in Wales will have ...
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Dairy farmers blockade Wiseman plant
Between 600 and 700 dairy framers blockaded the Robert Wiseman Dairy processing plant near Bridgwater in Somerset on Thursday night, the BBC has reported. The protest over milk prices also saw gatherings in the Midlands and Yorkshire backed by Farmers for Action, which has given the UK's leading milk processors an August 1st deadline to reinstate cuts in the milk price forced upon British dairy farmers since April of this year. The campaign has recently gathered celebrity ...
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Government unveils infrastructure and export finance guarantees
The Government has today unveiled a new £40 billion guarantees scheme aimed at increasing investment in UK infrastructure projects. The first guarantees are expected to be awarded in the Autumn and will encourage institutional investors, such as pension funds, to invest in projects across a range of sectors including transport, utilities, energy and communications. In addition, HM Treasury has announced that a £5 billion export refinancing facility will be made available later this year to support British ...
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New scheme bolsters lending to UK business
CMM Rural has noted two developments this week that should benefit rural businesses. Firstly, the Bank of England and HM Treasury have launched the Funding for Lending Scheme (FLS), which is designed to boost lending to both firms and households. Under the scheme, banks and building societies can secure cheaper funding. In addition, for every pound of additional lending achieved, an additional pound of FLS cash will be made available to lenders participating in the scheme. So as banks ...
