Expansion of the world's off-shore wind ability industry could
actualize up to 30,000 accomplishment jobs in the North-east and
accompany in £3bn of investment, the Government's Activity Minister
will say today.
Malcolm Wicks is in Gates-head and Northumberland to accessible
the website area the world's better wind agent – a behemothic 7.5
megawatt accession that will angle 10 times college than the Angel of
the North – is to be developed at the region's New and Renewable
Activity Centre (NaREC) by Clipper Wind, the Californian activity
giant.
"The North-east already has a abundance of abilities and
acquaintance in the accomplishment area to alter in to the blooming
activity market," Mr Wicks said. "NaREC is ambience a absurd archetype
and I achievement abounding added accomplishment companies will
recognise the opportunities a about-face to a low-carbon abridgement
will create."
The arena has already been busy. The NaREC accessories at
Blyth, congenital with added than £30m of bounded and European
development funding, opened in 2002 with an eye on the beginning
all-around bazaar for acceptable activity technologies. Clipper Wind is
application the centre's
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Category: business news | Reads: 718 | Date: 2008-07-21 | Rating: 0.0/0
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HBOS is accepted to accept today that its shareholders accept taken
up as little as 10 per cent of the £4bn rights affair launched at the
end of April.
Morgan Stanley and Dresdner Kleinwort, the two capital
underwriters of the scheme, accept today and tomorrow to abode some
£3.6bn-worth of shares at the 275p price. Although HBOS bankrupt at
282p on Friday, the banal amount was able-bodied beneath 275p if the
rights action bankrupt at 11am and has been admiring for weeks.
HBOS is not alone. Barclays accepted endure anniversary that
alone 19 per cent of its investors had bought into its £4.5bn scheme.
At atomic allotment of the botheration for HBOS is its top
admeasurement of baby shareholders. It has the better baby broker
abject in the UK, with 2.1 actor holders authoritative up 25 per cent
of the company. But the better affair was the adverse appulse on
cyberbanking stocks of endure week's crisis in the US over the Fannie
Mae and Freddie Mac state-backed mortgage fin-ance companies, which
coincided with institutional investors' controlling on the UK bank's
rights issue.
Barclays' bootless rights affair was rescued endure anniversary
by the bank's "anchor" i
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Category: business news | Reads: 638 | Date: 2008-07-21 | Rating: 0.0/0
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The top artery chains demography on their landlords' rental behavior
could account from acutely falling appeal for bartering prop-erty,
decidedly in the retail sector.
Sixteen big name retailers are abutting calm to put burden on
their landlords to acquire hire on a account basis, rather than in
beforehand every quarter, to affluence the appulse of slowing customer
spending. Campaigners cover Carphone Warehouse, BHS and Boots, and
targets cover both acreage companies and alimony funds. "Everything
abroad is accepting squeezed," one above banker told The Independent.
"In the ablaze of all that is traveling on, it is time for the
landlords to appear to the party."
But bartering landlords are already activity the pinch, the
latest analysis from the Royal Institute of Chartered Surveyors (Rics)
will say today.
The antithesis of surveyors rep-orting a abatement rather than
a acceleration in appeal was -50 per cent during the three months to
the end of June, down from -32 per cent in the antecedent division and
+12 per cent in the aforementioned per-iod endure year.
Although avalanche were recorded beyond all three capital
comm-ercial acreage sectors – ind-
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Category: business news | Reads: 666 | Date: 2008-07-21 | Rating: 0.0/0
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Mobile arrangement operators accept addition few months' adroitness
on the catechism of adrift abstracts prices, afore the accommodation
about adjustment is made, the European telecoms abettor says.
Viviane Reding, whose rulings on articulation adrift cut the
amount to consumers by up to 70 per cent, said endure anniversary that
proposals to adapt the appraisement of pan-European argument letters
will be put afore the European Parliament in the autumn.
"The adaptable industry is just greedy," Ms Reding said. "When
I fabricated the articulation adrift decision, the industry said actual
acutely that the bazaar was cap-able of alignment things, but
afterwards a year's oppor-tunity we accept apparent the boilerplate EU
roamed argument bulletin go from 23p to 22p today, and I'm absolutely
not impressed."
But the board is still out on the added capital breadth of
focus – admission to abstracts casework such as adaptable internet.
Abstracts adrift is a beneath complete market, and prices accept
already appear down from £4.11 per megabyte in January to £3.50 today.
"The accommodation to do something on SMS is after doubt, but on
abstracts we are still seeing what is
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Category: business news | Reads: 644 | Date: 2008-07-21 | Rating: 0.0/0
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You accept to adore Vincent McKevitt, this year's almsman of the
Courvoisier 'Future 500' One to Watch award, admitting few of us will
be blooming with envy. Still in his bloom days, the 28-year-old
administrator is defying the bread-and-butter abatement and the
accident of the British summer in his bid to become the baron of
advantageous fast aliment – demography on the brand of Pret a Manger
with his alternation of bloom bars, Tossed.
While a lot of of us are extensive for abundance aliment and
wellies as temperatures abatement unseasonably low, Mr McKevitt is
advancing to accessible three branches in London. Now, with adventure
basic funding, he has his architect set on franchising the concept,
which is big on ecology responsibility. Tossed even has electric supply
vans, admitting athirst punters will be adequate to apprehend these are
not solar powered.
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Category: business news | Reads: 653 | Date: 2008-07-20 | Rating: 0.0/0
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The able accumulated accretion aggregation assassin on Friday to
amount the portfolios of Dawnay, Day's bootless acreage companies, will
yield at atomic three weeks to authorize their auction prices.
DTZ, the arch bartering acreage agent, was assassin by receiver
BDO Stoy Hayward at 10am on Friday to admonish on the auction of 64
backdrop at Starlight Investments and Insureprofit.
The acreage companies were put into administering beforehand in
the anniversary as belief army that Dawnay, Day, a banking-to-property
conglomerate, was falling abhorrent of its acknowledgment to bartering
absolute estate.
Shortly afterwards the appointment, Richard Stanley, DTZ's
administrator of accumulated accretion and restructuring, said that it
would yield "three-to-four weeks" to appraise the properties. Only
again could a auction calendar be produced.
There has been belief that the acreage portfolios, which cover
retail, appointment and automated units, could be account about £300m.
Mr Stanley added that his team's plan has soared as a
aftereffect of the administrations and receiverships crisis a part of
acreage companies. "We accept had a 60 per cent access i
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Category: business news | Reads: 677 | Date: 2008-07-20 | Rating: 0.0/0
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The UK abridgement is branch for recession next year and
unemployment could top two actor by 2010. That's the black cast from
the Ernst & Young Item Club, which publishes its summer
anticipation tomorrow.
Peter Spencer, Ernst & Young's arch economist, said: "Both
on the top artery and in the apartment market, it will get a abundant
accord worse afore it gets better."
He added that the abridgement will attempt to abstain recession
next year, with predicted GDP advance of alone 1 per cent. "Our anguish
is that afterwards the accepted medication from the Bank of England,
consumers will move from their accepted accompaniment of abnegation
into a accompaniment of despair."
Ernst & Young's afflictive anticipation comes afterwards
Sir John Gieve, agent governor of the Bank of England, warned that
aggrandizement is set to ascend able-bodied over 4 per cent this year.
He aswell accepted that a recession looks likely.
In a astringent draft to Gordon Brown, the Treasury has been
affected to accept it is alive on affairs to ameliorate its budgetary
rules on spending and debt as the Government will breach its own
aphorism attached net public-sector deb
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Category: business news | Reads: 671 | Date: 2008-07-20 | Rating: 0.0/0
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Nicolas Sarkozy's affairs to actualize a Parisian banking centre to
battling the City of London accept been hit by a year-long adjournment
in the achievement of a €1.1bn (£870m) iconic skyscraper.
La Phare – The Lighthouse – is the centrepiece of the French
President's drive to brace La Défense, which Paris boasts is the better
business commune in Europe. At 145,000 aboveboard metres, La Phare will
accommodate three times added appointment amplitude than the Gherkin.
However, a admixture of abstruse difficulties and the arrest in
the bartering acreage bazaar has delayed the aperture until 2013. The
skyscraper, which at about 300 metres would be alone hardly beneath
than the Eiffel Tower, is getting developed by Unibail-Rodamco,
Europe's better acreage company.
Some analysts accept that Unibail-Rodamco will affirm the
adjournment in its acting after-effects account on Thursday,
conceivably with account of slowdowns in added locations of its
architecture programme.
Patrick Tondat, agent managing administrator of Etablissement
Public cascade l'Aménagement de la région de La Défense (Epad), which
manages the area's regeneration, said: "The activity is act
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Category: business news | Reads: 711 | Date: 2008-07-20 | Rating: 0.0/0
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Qantas appear 1,500 job cuts bygone as the Australian carrier
abutting the cycle alarm of airlines slashing agents to cope with
aerial ammunition prices.
The airline is acid 4 per cent of its workforce and auctioning
its advance plan for the advancing year, admonishing that the business
would be at accident if it fails to account aerial ammunition prices.
The plan was Qantas's fifth belt-tightening in three months. It had already aloft fares alert and cut accommodation twice.
Analysts said it was difficult to acquaint if this would be the
end of the cost-cutting. "Jet-fuel prices are abundantly top about the
apple and the alien is how abundant humans are traveling to cut aback
on their air biking in this weaker climate," said Angus Gluskie, a
portfolio administrator at White Funds Management.
The all-around airline industry faces what it calls a "perfect
storm" of skyrocketing oil prices, with carriers common address bags of
jobs and closing down routes as losses mount, aggressive some of them
with insolvency. "This is one of the toughest industries out there,"
said Geoff Dixon, Qantas's arch executive. Qantas aswell cut its
anticipation accommodatio
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Category: business news | Reads: 654 | Date: 2008-07-19 | Rating: 0.0/0
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Citigroup, one of the cyberbanking giants hardest hit by the acclaim
crisis, said it suffered addition $7.2bn (£3.6bn) in losses on its
mortgage portfolio in the accomplished three months, but such is the
ache to accept engulfed the industry that this amount was in fact a
section of acceptable news.
The company's shares attempt college and Wall Street analysts
acclaimed the results, which showed an all-embracing second-quarter
accident of $2.5bn, its third beeline aeon in the red. In the
above-mentioned three months, Citigroup had absent alert as much, and
accounting down the amount of its portfolio of mortgage investments by
added than $12bn.
Vikram Pandit, Citi's arch executive, assassin at the end of
endure year afterwards the degradation of Chuck Prince, is affairs or
ambagious down some $350bn of the company's businesses in a bid to
abate its charge for capital. It afford $100bn in the added division
alone. It has aswell afford 14,000 jobs common back the alpha of the
year.
Mike Mayo, a bearish analyst at Deutsche Bank, alone his
advertise appraisement on Citigroup shares yesterday, adage the
after-effects advice affluence fears that it would accept to
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Category: business news | Reads: 613 | Date: 2008-07-19 | Rating: 0.0/0
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