Barclays Bank set a net zero carbon target

Barclays said it planned to set a net zero by 2050 carbon target, to be voted on by shareholders at its forthcoming annual general meeting in May.

The bank said it would also commit to align its financing activities with the goals and timelines of the Paris Agreement.
See the source image
‘The alignment of Barclays’ portfolio will start with the energy and power sectors, and will cover all sectors over time,’ the company said.

‘Barclays will provide the transparent targets required to judge its progress and will report on them regularly, starting from 2021.

Pls Comment, like and share

Thinking of buying a property?

Need help with residential and commercial property purchase/finance in the UK from start to finish, Please Contact me

Selling or renting your property in Greater Manchester? Get same day EPC for £45 only

Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk

UK Covid-19: How to apply for government business loan

The government has released more details about the £350bn package of financial support which Chancellor Rishi Sunak has promised to UK business to deal with the effects of the coronavirus pandemic.

See the source image

Last week he set out plans to pay employees 80% of their salaries, capped at £2,500 per month, in an attempt to protect jobs.

Two further schemes to help business were announced on Tuesday: a new interest-free Business Interruption Loan Scheme for small and medium-sized firms and a Bank of England finance option for bigger businesses.

How will the Business Interruption Loan Scheme work?

UK-based small and medium-sized businesses (SMEs) with an annual turnover of less than £45m can apply for an interest-free loan of up to £5m to help them through Covid-19 related difficulties.

The government will provide a grant payment to cover the interest and initial fees for the first 12 months, and will guarantee 80% of the loan amount to give banks and financial companies the confidence to lend.

Under the scheme, which will initially run for six months, businesses will be able to borrow for up to six years. They will be liable to repay the money in full – the guarantee is for the lenders, not the borrowers.

Will all small and medium-sized firms be able to borrow money?

Not necessarily, Firms will have to prove that they are viable businesses which have been trading successfully, but just need extra support to deal with short term difficulties caused by the current disruption. Some firms may not be successful.

The money will be provided by more than 40 lenders who have signed up to the scheme, including High Street banks like Barclays, HSBC, Lloyds and NatWest, as well as more specialist finance companies.

Businesses are asked to contact their own bank first (if they are taking part in the scheme) via the company website if possible, and only approach other lenders if they need to.

The British Business Bank, which is running the scheme, told the BBC on 23 March that it expected money to start flowing “this week”.

See the source image

You can read more about how the scheme will work here.

Can self-employed people apply to the Business Interruption Loan Scheme?

Yes, The British Business Bank says self-employed people with an annual turnover of up to £45m can apply under the scheme, as long as they operate through a business bank account, and generate more than 50% of their turnover from trading activity.

This includes sole traders, freelancers, and limited partnerships, operating in all sectors.

The government has already said the UK’s five million self-employed people would be allowed to defer self-assessment tax payments, and would benefit from mortgage payment holidays as well as an expansion of welfare support, including universal credit and Local Housing Allowance.

HM Treasury told the BBC the government was “working hard on further measures to support the self-employed”.

What about help for bigger businesses?

Companies that have a yearly turnover of more than £45m may be able to take advantage of the Bank of England’s new Covid Corporate Financing Facility.

The Corporate Financing Facility is effectively a government promise to buy short-term IOUs from companies which are in sound financial health and have a very high credit rating, but which need help to boost their cash flows.

The IOUs can be for any period between one week and 12 months.

The Bank of England says that eligible companies must have a “genuine business” in the UK, and “make a material contribution to the UK economy”.

Generally they will be based in the UK, or have their headquarters here, and employ or provide services to a significant number of people in the country.

How do big companies apply?

Companies must apply through their own bank in the first instance, assuming it is taking part in the scheme, and need to request funding of at least £1m.

The facility will offer finance to companies on similar terms to those available in the markets in the period before the pandemic.

The government will not publish details of which firms have taken advantage of the scheme, which is due to run for at least 12 months.

Source: BBC News

Pls Comment, like and share

Thinking of buying a property?

Need help with residential and commercial property purchase/finance in the UK from start to finish, Please Contact me

Selling or renting your property in Greater Manchester? Get same day EPC for £45 only

Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk

Louis Vuitton to use perfume production lines to start making hand sanitiser

Louis Vuitton owner LVMH will use its perfume production lines to start making hand sanitiser to protect people against the coronavirus outbreak.

The luxury goods maker says it wants to help tackle a nationwide shortage of the anti-viral products across France.

“These gels will be delivered free of charge to the health authorities,” LVMH announced on Sunday.

See the source image

France has now seen 120 deaths from the coronavirus as the pandemic spreads.

“LVMH will use the production lines of its perfume and cosmetic brands… to produce large quantities of hydroalcoholic gels from Monday,” LVMH said in a statement.

The factories normally produce perfume and makeup for luxury brands like Christian Dior and Givenchy.

The French luxury conglomerate also owns well-known brands such as champagne maker Moet & Chandon, watchmaker Tag Heuer and jeweller Bulgari.

“LVMH will continue to honour this commitment for as long as necessary, in connection with the French health authorities,” the company said.

France has closed its restaurants, cafes and non-essential stores in an effort to combat the virus, which has infected an estimated 165,000 people and killed more than 6,000 worldwide.

Governments across the world have called on manufacturers to help make products that are running low during the virus outbreak.

UK Prime Minister Boris Johnson is due to ask UK engineering firms on Monday to shift production to build ventilators for the NHS.

In China, at the peak of its coronavirus outbreak in February, electronics giant Foxconn switched some of its production from Apple iPhones to make surgical masks.

Source: BBC News

Pls Comment, like and share

Thinking of buying a property?

Need help with residential and commercial property purchase/finance in the UK from start to finish, Please Contact me

Selling or renting your property in Greater Manchester? Get same day EPC for £45 only

Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk

Manchester Trafford Centre firm Intu warns it could go bust

The owner of some of the UK’s biggest shopping centres, Intu, has said there are doubts that it can survive unless it raises extra funds.

See the source image

Its comments came as the firm – which owns Manchester’s Trafford Centre and the Lakeside complex in Essex – reported a £2bn loss in 2019.

The weakness in the retail sector meant Intu wrote down the value of its shopping centre sites by nearly £2bn.

Intu will try to raise extra cash after an earlier plan to raise £1bn failed.

The collapse and contraction of High Street retailers has left landlords such as Intu struggling to fill vacant space. At the same time, Intu has run up debts of nearly £5bn.

In January, the firm approached its shareholders to ask for more money amid the downturn in the retail sector.

But last week, Intu said it was at risk of breaching debt covenants after it was forced to abandon the fundraising attempt. It said “extreme market conditions” deterred investors from giving fresh cash.

To help it keep going, the firm said it would try to engage with investors, or it might have to sell more of its assets.

The company has already been selling shopping centres to raise cash.

Intu said it could also try to seek waivers on its debt commitments to lenders and spend less in the short term.

Source: BBC News

Pls Comment, like and share

Thinking of buying a property?

Need help with residential and commercial property purchase/finance in the UK from start to finish, Please Contact me

Selling or renting your property in Greater Manchester? Get same day EPC for £45 only

Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk

BT pension scheme MEPC property developer sold to Hermes

Hermes Investment Management has acquired MEPC, the UK property developer owned by the BT Pension Scheme (BTPS).

Hermes, which was formerly owned by BTPS, and GE Real Estate took MEPC private in 2000 as each acquired 50% of the company. Three years later, Hermes bought GE’s stake.

 

In April 2018, Federated Investors acquired a majority interest in Hermes from BTPS.

Hermes said today it is acquiring MEPC in a deal that “enhances Hermes Real Estate’s proposition by adding specialist asset and development management expertise to its existing capabilities”.

See the source image

Chris Taylor, CEO of Hermes Real Estate, said: “There are many synergies between the two brands and an already long-lasting and successful relationship, which can now be built upon further.”

James Dipple, CEO of MEPC, said: “This is an exciting transaction for MEPC, allowing us to combine our long track record of success with a leading real estate investment manager.

“Our strategic ambitions for the future are fully aligned with those of Hermes and, therefore, a strong basis for the growth of MEPC.”

A spokesperson for Hermes and MEPC said: “Having Hermes as MEPC’s parent company provides a long-term basis for its future growth with little disruption to day-to-day business. Certain investments processes are already integrated with those of Hermes.

“This acquisition greatly enhances our real estate proposition by adding specialist asset and development management expertise.

“In particular, it supports our core strategy of creating urban regeneration schemes, which not only deliver attractive financial returns but will have a positive impact on the environment and communities in which they are located – a key market differentiator for the business ahead.”

Source: IPE Real Asset

Pls Comment, like and share

Thinking of buying a property?

Need help with residential and commercial property purchase/finance in the UK from start to finish, Please Contact me

Selling or renting your property in Greater Manchester? Get same day EPC for £45 only

Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk

LRG acquires Dunlop Heywood in a surprise move into commercial property

The Leaders Romans Group has extended its activities into the commercial world with the acquisition of chartered surveying company Dunlop Heywood.

See the source image

Dunlop Heywood – established in 2008 – specialises in business rates liability and advises a wide range of clients in the aviation, docks and harbours, energy and renewables, retail and leisure sectors.

Agency group makes surprise move into commercial propertyLRG chief executive Peter Kavanagh says: “This is a fantastic acquisition for LRG, which will further enhance the range of expert property services we can offer our clients. Dunlop Heywood has a very well established market reputation for providing expert rating advice, and I am confident … we will be able to grow the business in the coming years.”

Building Project: The 4 major Health and Safety signs you must know

When undertaking a building project you must comply with Health and Safety (Safety Signs and Signals) Regulations 1996. Safety signs and signals are required where, despite putting in place all other relevant measures, a significant risk to the health and safety of employees and others remains.

See the source image

Safety signs are in place to alert employees, customers and visitors to the risks and, where appropriate, show safe practice. Safety signs are used in a range of environments, for example traffic signs in the workplace to regulate road traffic, safety signs to identify hazards or safety signs to indicate where fire exits and fire extinguishers are.

The 4 major Health and safety signs are;

  1. Safety Condition signs (Green and White) – giving you information that is only about safety action, location of safety equipment, safety facility or escape route. Safe condition signs generally use a white safety symbol on a green background.
  2. Warning signs (Yellow and white) – alerting you to hazards or danger indicate when there are potential  safety risks or dangerous situations that require attention to anyone who is on the premises in order to protect themselves. They are highly visible and colour coded to make them easier to understand, warning signs are yellow.
  3. Mandatory signs (Blue and White) – meaning you must do something and is depicted by a blue circle with a white pictogram. They inform employees and visitors that a certain course of action must be taken; such as wearing PPE, sounding horn and washing hands. Below are our most popular ISO compliant mandatory symbols. Wear eye protection.
  4. Prohibition signs (Red and white) – meaning you must not do something such as a behaviour / action likely to cause a risk to health or safety. Prohibition signs are required to be red circle with a red diagonal line through it (running from top left to bottom right)

Pls Comment, like and share

Thinking of buying a property?

Need help with residential and commercial property purchase in the UK from start to finish, Please Contact me

Selling or renting your property in Greater Manchester? Get same day EPC for £45 only

Need help with commercial biogas Energy project financing, Operation and Management please contact me for more details

Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk