News Category
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Banks to rebalance towards SMEs
SMEs are still looking to banks as their primary source of funding, according to Ernst & Young's (E&Y) ITEM Club. However, the respected economic forecaster is predicting subdued growth in business lending in 2014, at just 1.5%, as larger firms increasingly turn to other sources of finance to drive investment. Businesses are expanding investment but growing profits and existing large cash balances mean they can make more use of other means of funding, such as bond issues ...
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Co-op board exercised “facade of control”
In his widely-publicised review of the Co-operative Group's problems, Lord Myners has come to the "inescapable" conclusion that the present governance architecture and allocation of responsibilities at the mutual is not fit for purpose, having placed "individuals who do not possess the requisite skills and experience into positions where their lack of understanding prevents them from exercising the necessary oversight of the Executive". Lord Myners identified a "façade of control" exercised by individuals "drawn from an ...
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Global economy strengthening
The global economy will strengthen over the coming two years, but urgent action is needed to reduce unemployment and address other legacies from the crisis, according to the latest Economic Outlook report from the OECD. GDP growth across the 34-member OECD is projected to accelerate to 2.2% in 2014 and 2.8% in 2015, according to the Outlook. The world economy will grow at a 3.4% rate in 2014 and 3.9% in 2015. Among the major advanced economies, ...
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One step closer to Scottish Islands grid links
We are now one step closer to unlocking the renewable energy potential of the Western Isles, Orkney and Shetland Islands. A new government-commissioned report by Xero Energy has identified a series of actions to help deliver electricity grid connections as part of on-going efforts to support the development of renewable energy on the three Scottish island groups. The key findings, which will be considered by the inter-governmental Scottish Islands Renewables Group, include issues relating to: certainty for developers ...
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Crackdown on poorly managed park home sites
New measures to protect the rights of park home owners have come into force, Housing Minister, Kris Hopkins, has announced. Councils now have new powers to tackle poor conditions on park home sites, such as serving notice outlining the action that needs to be taken by the site owner by a given deadline. With over 2,000 park homes sites across the country, Mr Hopkins said it was about time action was taken to give councils the ability ...
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SMEs encouraged to generate bioenergy from wetlands
Three UK businesses have been awarded a share of over £1.3 million to support innovation in turning reeds and rushes from wetlands into bioenergy, Energy and Climate Change Minister, Greg Barker, has announced. Contracts have been awarded to AMW IBERS, Natural Synergies and AB Systems, as part of a competition to help entrepreneurs demonstrate new ways of turning plant-based material derived from harvesting wetlands into renewable heat and electricity. According to the Government, sustainably sourced bioenergy has ...
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Illegal fishing warning
Anglers are reminded that the coarse fish close season is in operation. Since the close season began on 16th March, Environment Agency enforcement officers have caught 11 people breaking the law and officers' activities will be stepped up over the coming Bank Holiday weekends to ensure that anglers have a valid licence and are compliant with national and local bye laws. The maximum fine for fishing during the close season is £50,000; anyone caught doing so may ...
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UN climate report – “we cannot play a waiting game”
A long-awaited United Nations (UN) report on the mitigation of climate change is urging all countries “to act swiftly and boldly” to reach a “global, ambitious and legal [climate] agreement in 2015". The report, which suggests that we need to treble the use of wind and solar power, acknowledges that global greenhouse gas emissions are continuing to rise at an accelerated pace. It concludes that urgent action is needed to limit the increase in global mean temperature ...
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Gangmasters’ Licensing Authority gets more muscle
The Gangmasters Licensing Authority (GLA) has become part of the Home Office in a move that should strengthen its enforcement and intelligence capabilities. The change means that the GLA will be able to access expert support from the National Crime Agency's (NCA) intelligence hub and tap into the resources and reach of the NCA’s 4,500 officers and international presence in 40 countries. Prime Minister David Cameron has also announced plans ...
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Corporate Responsibility a “key ingredient”
The Government has published a response to its Call for Views on corporate responsibility which indicates that companies are already going beyond legal requirements to manage and enhance economic, environmental and societal impacts. Examples noted of businesses leading the way include: O2 has linked up with Bauer Media to help give young people a better chance of getting into work. The two have launched GoThinkBig, an online resource designed to open up opportunities and create a community of ...
