These are the seven biggest risks facing housebuilders in 2017 December 6, 2016 Think housebuilders have had a bad year? Well, these analysts think 2017 could be worse. On the day of the Brexit vote, housebuilders were subjected to some of the most dramatic sell-offs of any stock. None of the big housebuilders have regained the ground they lost on the day. Read more: EU regulation protecting newts [...]
Interserve contract will deliver “double-digit cost savings” across government departments November 14, 2016 Civil servants promised big savings to taxpayers after agreeing a contract with Interserve to consolidate operations across six government departments. The FTSE 250 group today announced a deal with the departments that will be worth £40m over five years, which "hopes to achieve annual double-digit cost savings". Read more: Interserve wins place on £4bn construction framework John Manzoni, [...]
Optimism at two-year high ahead of Brexit for UK manufacturers as domestic demand drives morale up January 25, 2017 A boom in domestic demand has boosted optimism among British manufacturers to increase at its fastest pace for two years ahead of Brexit, according to a survey of UK businesses. More than a quarter of manufacturing firms are optimistic for prospects for the year ahead, according to the Confederation of British Industry (CBI), outweighing negative [...]
The energy answer is blowing in the wind December 16, 2016 "Let's go fly a kite up to the highest height." And get wind of this: you can generate energy at the same time. It's true. You may have seen wind turbines working their energy magic across the UK countryside – but how about kites doing the same thing? These commercial kites achieve 'high flight speeds', over 100mph in [...]
Spiking business rates will lead to an East London tech exodus February 23, 2017 Much has been written about the upcoming business rates revaluation and the significant additional burden that this will place on businesses, large and small. Comparatively little, however, has been said about the impact that this in turn will have on our town centres and business districts. Ultimately, business rates are a property tax rather than [...]
Nic London says government planning procedures are impeding small housebuilders November 24, 2016 Figures released earlier this month show that nearly 200,000 homes were added to the housing stock in 2015-16 – a good start to delivering the 1m homes the government has pledged this parliament. But more needs to be done if we’re going to continue to build enough houses for our burgeoning population, and we will [...]
Wolseley investors recognise boost from foreign exchange as shares edge up slightly December 6, 2016 Building materials supplier Wolseley's revenues were given a £600m first quarter foreign exchange boost as it posted a 21 per cent increase in trading profit. Shares in the UK-based firm nosed up around one per cent in trading, reflecting the fact like-for-like sales were up a more modest 1.8 per cent. US operations grew by [...]
Steel group Severfield sets its sights on 1 Undershaft and Google’s new HQ after posting bumper first-half profits November 22, 2016 Steelmaker Severfield has posted bumper first-half profits for 2016 and set its sights on helping construct City skyscraper 1 Undershaft and the new Google headquarters in the capital. Shares in the structural steel group were up 12 per cent today to 69.79p after Severfield posted a 69 per cent rise in underlying profit before tax, at £8.1m, in the [...]
Caterpillar’s revenues take a hit as the drop in commodity prices weighs October 25, 2016 Construction and mining equipment maker Caterpillar has warned it expects earnings to continue to crawl for the foreseeable future. Caterpillar’s woes have largely been put down to the ongoing slump in commodity prices that has led to some its customers reining in spending. Caterpillar has cut its earnings view for 2016, now projecting full-year earnings [...]
This housing chief thinks EU regulation protecting newts is holding back housebuilders December 4, 2016 Housebuiding in the UK is being held back by newts and other animals protected by EU regulation, one leading housebuilder has said. John Tutte, chief executive of housebuilder Redrow, has said that "we haven't got a shortage" of great-crested newts. But, due to shortages in places such as Spain, the amphibians are protected by EU [...]