Construction

Construction 30-06-2018

ONS gives improved figures for first quarter growth

The pound has been given a small boost as the Office for National Statistics came in with a revised estimate of UK economic growth in the first quarter. It appears the nation’s construction output decline may not have been as bad as initially feared, as the ONS now says gross domestic product grew by 0.2% […]

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Business 19-06-2018

McCarthy & Stone CEO stepping down amid profit warning

Retirement housebuilder McCarthy & Stone CEO announced he is walking away from the company this year, as the company’s shares fell after it issued a profit warning. Declining reservation rates have lead to a revised profit forecast of between £65 million and £85 million, a drop from the £96 million recorded last year and the […]

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Construction 08-06-2018

£150 million fallout from Carillion collapse

Construction company Carillion’s demise is set to cost taxpayers at least £148 million, according to the National Audit Office. The company went into liquidation in January, amid over £1.5 billion worth of outstanding debts. While the government has allocated £150 million for the costs of the liquidation, the NAO released a report indicating the cost […]

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Business 06-06-2018

Persimmon takes heat over director bonuses

MPs grilled UK housebuilders Persimmon over an executive bonus scheme which has resulted in public outcry. Persimmon board member Marion Sears appeared before parliament to answer questions regarding the scheme, which has been labeled “grossly excessive”. While taking questions from Business, Energy and Industrial Strategy Committee chair Rachel Reeves, Sears initially did not mention almost […]

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