Share buyback on the way at Wickes as it puts post-pandemic lull behind it July 25, 2023 An “encouraging” first half of the year for home improvement retailer Wickes has led the company to launch a share buyback scheme The DIY and garden centre firm reported sales growth of three per cent in the second quarter of the year, and 0.7 per cent in the first half overall. Following its positive results [...]
‘Docklands 2.0’: Michael Gove outlines vision for new higher density London July 24, 2023 Michael Gove has outlined the government’s vision to create a “Docklands 2.0” in a key speech on housing policy, calling for higher density urban development. The housing and levelling up secretary cited the “ambitious approach” of Margaret Thatcher and Michael Heseltine and warned housing “inefficiency” is costing Britain’s productivity. It comes as the prime minister [...]
UK to issue visas for foreign construction workers to fill job shortages July 17, 2023 Carpenters, bricklayers and roofers are among migrant workers who will be allowed to apply for work visas and get a discount on fees in a bid to fill UK job shortages. The Home Office said it was “temporarily easing visa restrictions” for a string of construction roles by adding them to the shortage occupation list. [...]
Why so secretive? Sunak blasted for ‘surreptitious’ industrial strategy May 18, 2023 A set of cross-party former business secretaries have launched a stinging attack on Rishi Sunak over his apparent lack of a cohesive industrial strategy. Ex-ministers Greg Clark, Peter Mandelson and Vince Cable told the Financial Times the Prime Minister was being so “surreptitious” that his strategy for industry was a “guilty secret”. Clark, Conservative business [...]
Taylor Wimpey axed 450 jobs as construction giant sounds housing market warning April 27, 2023 Up to 450 jobs have been cut as home construction firm Taylor Wimpey as it looks to deliver £19m in cost savings. Ahead of its AGM today, the London-listed firm said spring had helped in year to date sales, while severe challenges remained for first time buyers still. In a trading update, it said a [...]
IN PICTURES: See Manchester City’s plans for £300m upgrade to Etihad Stadium April 18, 2023 Premier League champions Manchester City have formally submitted a planning application for a £300m upgrade of their Etihad Stadium that would take capacity to more than 60,000. The improvements are centred on the North Stand, which is to get a new, enlarged upper tier and will connect to a new complex featuring a hotel, club [...]
Is HS2 holding up the UK’s construction industry? Output up but housebuilding continues to fall April 6, 2023 Civil engineering rose at its highest level since 2009 in March, according to a leading global index which measures the monthly construction output of the UK economy. At 50.7 in March, the headline seasonally adjusted S&P Global /CIPS UK Construction Purchasing Managers’ Index (PMI) – which measures month-on-month changes in total industry activity – was [...]
Michael Gove: Four more firms signed up to Grenfell safety contracts after being named and shamed March 24, 2023 Michael Gove said four more companies have signed up to post-Grenfell building safety contracts after he named and shamed some of the firms earlier this month that had not signed up to the agreement. The Communities Secretary had given companies until March 13 to sign up to the agreement aimed at addressing cladding issues following [...]
10 construction firms fined £60m for ‘illegally colluding’ to rig contracts including for Selfridges and 135 Bishopsgate March 23, 2023 The UK competition watchdog has fined 10 construction firms a total of almost £60 million for “illegally colluding” to rig bids for contracts. The construction firms have been punished over cartel agreements related to 19 contracts worth over £150 million on both public and private sector contracts. The Competition and Markets Authority (CMA) said the [...]
Marshalls boss defends £535m Marley takeover despite tumbling share price and falling profits March 15, 2023 Marshalls boss Martyn Coffey has defended the company’s £535m acquisition of Marley last year despite a hit to profits and share prices.