#tax consultants in Vaughan

[rkbaccounting]

It is beneficial to start a business in Ontario, Canada. Having your own business makes you the boss of yourself. However, while it is rewarding in many ways, you have very little time and energy left to pay attention to the tax and accounts of your company. In addition, accounting comes with its challenges that are exhausting if you are not skilled in the field. At times like this, it is best to go for the accounting & bookkeeping service in Vaughan.  

[mbdailynews]

House Sales Collapse as UK Lenders Withdraw Mortgage Offers

Deals for house purchases are collapsing after lenders pulled mortgage offers in response to soaring interest rates. Smaller lenders such as Kensington, Accord Mortgages and Hodge were among those to say they were withdrawing products Tuesday. That follows the decision by Lloyds Banking Group Plc -- the UK’s biggest mortgage provider -- on Monday to halt some offers, while Virgin Money UK Plc temporarily stopped offering home loans to new customers. Major firms weighed in later Tuesday. HSBC Holdings Plc told brokers it was removing new mortgage products for the rest of the day while Nationwide Building Society announced that it was increasing rates across product ranges starting Wednesday. Banco Santander SA said it was removing some products and increasing rates on many others. Get Wall Street Journal and Bloomberg Digital Subscription 5-years $89 Jessica Anderson, a 33-year-old who works in publishing, was set to buy a house in Walthamstow, east London, with her husband until the seller pulled out last week. “We’re in an uncertain position where we’re not sure whether it still stands,” she said, regarding the couple’s mortgage offer. “Since the approval there have been two interest rate increases.” Traders are betting the Bank of England will raise its key interest rate to 5.9% by September next year, compared with 0.1% a year ago, sending home loan costs spiraling for the 1.8 million people who need to remortgage next year. A series of unfunded tax cuts from new Chancellor of the Exchequer Kwasi Kwarteng has rocked the pound and UK gilts, and forced the BOE to issue an emergency statement pledging to lift rates “as much as needed” to control inflation. Buy The New York Times+Wall Street Journal 5-Year Digital Subscription, and take 77% off Analysts at Credit Suisse said in a note that house prices “could easily fall 10% to 15%.” Some hopeful housebuyers have had their mortgage offers fall through, according to Loubie Vaughan, founder of estate agent FG Consultants. She said one buyer had £900,000 ($969,120) in cash to buy a £1.4 million house in Camden, north London, but that the deal is now in doubt. “I told him to sit tight and see how it plays out,” she said. “There’s no point running around like headless chickens when we don’t know what’s going to happen.” Vaughan added that she expects house prices to fall despite Kwarteng cutting stamp duty, a tax on housing transactions, last week. Property Log, an extension that tracks home price changes on portal Rightmove, said Monday saw the biggest number of price cuts it’s recorded since it began tracking them more than four years ago. Left Stranded “There will obviously be people who are left stranded,” said Ray Boulger, a manager at loan broker John Charcol. “Some lenders have given no notice, and with some we are getting emails during the day saying rates are being pulled at 5 p.m. There will be undoubtedly be people in the process of securing their mortgage who will miss the boat.” So-called “chains” of multiple house purchases, where each buyer is dependent on the sale of their existing home, may starting collapsing when any one of the deals falls through, Boulger added. Between Friday morning and Tuesday morning the number of residential mortgage products on the UK market fell 9% to 3,596 from 3,961, according to data compiled by Moneyfacts Group Plc. Atom Bank has lifted its rates by 1% on some mortgage offers and withdrawn others. Get a 5-years subscription to the WSJ and Barrons Digital News for $89 The systems at some lenders are unable to cope with a flood of applications because everyone is trying to fix in at current rates, said Andrew Montlake, managing director at mortgage broker Coreco. Bigger lenders are now being overwhelmed as other firms temporarily withdraw from the market. “My nerves are shot,” said Hannah Fearn, 40, a freelance writer in south London and another hopeful housebuyer. “Our mortgage offer lasts until mid January and we have just put in another best and final offer but if we don’t get this particular house I’m not sure what we’ll do.” It’s unclear what will happen to the market next. If the Bank of England leaves interest rates unchanged for two or three weeks then lenders will have more certainty and more mortgage products will return, said Geoffrey Yu, a senior strategist at Bank of New York Mellon Corp. in London. “But if the pound falls again there is a greater chance of a BOE reaction, and affordability will just decline further,” he said. Read the full article

[toriexpress]

Scammer who was 'Church elder' defrauded a woman's £600,000 life savings is ordered to pay back just £1

Scammer who was ‘Church elder’ defrauded a woman’s £600,000 life savings is ordered to pay back just £1

A church elder who stole a woman’s £600,000 life savings and told her it was going into an offshore scheme that didn’t exist has been ordered to pay back just £1. David Vaughan Jones, 83, a founder of the Evangelical Church in Newtown, Powys, conned members of his congregation out of their money by recommending the bogus plan. He reportedly posed as a respected tax consultant to lure fellow…

[jaigeddes]

Costain revamps risk control after problem jobs cause £96.1m loss

Costain has completely overhauled its approach to contract risk monitoring after problem jobs caused a £96.1m loss for the year to December 31 2020.

Results were hit by £94.7m of charges from two long-standing contracts in relation to the Peterborough & Huntingdon gas station job and and the A465 Heads of the Valleys road road scheme.

Costain also confirmed a one-off charge of £5m in relation to closing out the ASF south highways legacy contract.

The charges led to a pre-tax loss for the year of £96.1m from a £6.6m loss last time on turnover down to £1,070m from £1,175m.

Costain said: “The Group’s contract selection, tender and contract management processes and behaviours have been enhanced over the past 18 months, resulting in lower contract risk and better cost management throughout the lifecycle of our projects.

“To enhance tender governance the Group has updated its policies for commercial expectations and risk appetite for all new contracts, including reducing the acceptable level of downside risk and increasing the minimum level of acceptable profit for all new contracts.

“The Group has also implemented a five-gated approval process prior to signing any contract, including independent risk and assurance review prior to target cost and contract conditions approval.

“In addition, the Group has implemented its ‘Operational Excellence Model’ on all new contracts and existing long-term frameworks.

“The monitoring and administration of scope of works changes to identify and escalate potential cost increases at an early stage have been enhanced, including the rigour of monthly reviews of all contracts in a standard and mandatory format, and detailed measurement of work in progress and cash collection.”

Costain put the cost of Covid to the company at £9.2m and received £2m from the government furlough scheme.

The company has set a medium-term target of 6-7% divisional margins with 55% of profits derived from our higher margin services like consultancy and digital services as it “broadens its offer from purely complex construction.”

Costain added: “Everyone at Costain is focused on ensuring all projects are delivered to plan and project risks are managed effectively. This absolute focus alongside the delivery of our strategic plan is the bedrock to delivering the improved performance we expect next year and over the years ahead.”

The company had a £4.2bn order book at year end and net cash of £102.9m.

Alex Vaughan, chief executive officer, said: “Last year was a challenging year but I am proud of how well everyone at Costain responded and the resilience shown across our business which enabled us to continue to operate effectively with strict Covid-19 safety measures in place.

“The significant charges reported at the half-year relating to two contracts are clearly disappointing, and importantly we have taken robust steps to prevent such issues from reoccurring.

“Last year, we continued to be successful in winning new contracts and preferred bidder positions worth over £2.3bn with an increasing proportion of this work incorporating our broader service offering in line with our strategy.

“The UK Government has provided a clear strategic framework for UK infrastructure investment, underpinned by long-term underwritten investment programmes to support the UK Government’s drive to level-up economic growth and to meet decarbonisation commitments.

“I am confident that Costain is in a good position to capitalise on the opportunities in front of us and to grow our profits in 2021.”

[ebenalconstruct]

Costain revamps risk control after problem jobs cause £96.1m loss

Costain has completely overhauled its approach to contract risk monitoring after problem jobs caused a £96.1m loss for the year to December 31 2020.

Results were hit by £94.7m of charges from two long-standing contracts in relation to the Peterborough & Huntingdon gas station job and and the A465 Heads of the Valleys road road scheme.

Costain also confirmed a one-off charge of £5m in relation to closing out the ASF south highways legacy contract.

The charges led to a pre-tax loss for the year of £96.1m from a £6.6m loss last time on turnover down to £1,070m from £1,175m.

Costain said: “The Group’s contract selection, tender and contract management processes and behaviours have been enhanced over the past 18 months, resulting in lower contract risk and better cost management throughout the lifecycle of our projects.

“To enhance tender governance the Group has updated its policies for commercial expectations and risk appetite for all new contracts, including reducing the acceptable level of downside risk and increasing the minimum level of acceptable profit for all new contracts.

“The Group has also implemented a five-gated approval process prior to signing any contract, including independent risk and assurance review prior to target cost and contract conditions approval.

“In addition, the Group has implemented its ‘Operational Excellence Model’ on all new contracts and existing long-term frameworks.

“The monitoring and administration of scope of works changes to identify and escalate potential cost increases at an early stage have been enhanced, including the rigour of monthly reviews of all contracts in a standard and mandatory format, and detailed measurement of work in progress and cash collection.”

Costain estiamted the cost of Covid to the company at £9.2m and received £2m from the government furlough scheme.

The company has set a medium-term target of 6-7% divisional margins with 55% of profits derived from our higher margin services like consultancy and digital services as it “broadens its offer from purely complex construction.”

Costain added: “Everyone at Costain is focused on ensuring all projects are delivered to plan and project risks are managed effectively. This absolute focus alongside the delivery of our strategic plan is the bedrock to delivering the improved performance we expect next year and over the years ahead.”

The company had a £4.2bn order book at year end and net cash of £102.9m.

Alex Vaughan, chief executive officer, said: “Last year was a challenging year but I am proud of how well everyone at Costain responded and the resilience shown across our business which enabled us to continue to operate effectively with strict Covid-19 safety measures in place.

“The significant charges reported at the half-year relating to two contracts are clearly disappointing, and importantly we have taken robust steps to prevent such issues from reoccurring.

“Last year, we continued to be successful in winning new contracts and preferred bidder positions worth over £2.3bn with an increasing proportion of this work incorporating our broader service offering in line with our strategy.

“The UK Government has provided a clear strategic framework for UK infrastructure investment, underpinned by long-term underwritten investment programmes to support the UK Government’s drive to level-up economic growth and to meet decarbonisation commitments.

“I am confident that Costain is in a good position to capitalise on the opportunities in front of us and to grow our profits in 2021.”

from https://www.constructionenquirer.com/2021/03/16/costain-revamps-risk-control-after-problem-jobs-cause-96-1m-loss/

[jasonblogslove]

Time to save your full-time accountant’s costs!

An increase in your sales and a reduction in your business expenses will make your business grow profitably. To do so, your business needs professional yet affordable accounting expertise. Hiring chartered accountants is not always a favourable option. Therefore, hiring an affordable accounting firm should be your ultimate goal.

A N G CPA Professional Corporation has 30 years of accounting and tax experience. We provide businesses with expert accounting and tax services in Vaughan at affordable rates. If you are planning to save your costs from hiring full-time accountants, it is best to consult us.

[progressiveparty]

Watts draws challenge from left in Assembly District 15

A voter shows off his "I Voted" sticker after casting his ballot in 2018. (Bizuayehu Tesfaye/Las Vegas Review-Journal) @bizutesfaye Democratic Assemblyman Howard Watts III is eyeing his second term in Assembly District 15 where Democrats outnumber Republicans by a nearly 3-to-1 margin. The first-term incumbent is being challenged in the Democratic primary this year by Burke Andersson, who is running on a platform of Universal Basic Income. The winner of the primary will face Republican Stan Vaughan in the general election in November. Vaughan previously ran unsuccessfully for the Assembly seat in 2016 and 2018, garnering 29.7 and 33.5 percent of the vote, respectively. Howard Watts III Incumbent Howard Watts III is a progressive advocate, especially on climate change issues, whose day job is doing public relations consulting for nonprofit and business clients. Before the coronavirus pandemic turned life upside down, Watts said he wanted to tackle more climate change policies in the next legislative session. Lawmakers in 2019 passed a bill that requires Nevada’s Renewable Portfolio Standard to reach 50 percent by 2030. Watts said the next challenge is looking at clean energy solutions for transportation, and specifically public transportation. But Watts said that given the current pandemic, the most important thing for lawmakers to handle next session is dealing with the public health crisis, the economic fallout it’s created and putting policies in place that will better prepare the state to be able to weather a similar emergency in the future. When it comes to the budget shortfalls created by the economic shutdown, Watts said lawmakers “need to have a comprehensive conversation about revenue, and figure out how we can make some adjustments that can help us recover and provide the level of service that the state needs to and do it an a balanced and board way.” Watts said lawmakers could consider adjusting property tax caps in the state. Currently, property tax values can’t increase by more than 3 percent each year even as home values have increased at a significantly higher clip. He also looking at other areas, like mining taxes, or tweaking the state’s sales tax to expand it to some service sectors while also lowering the overall base of that tax. And lawmakers should be willing to look at adjusting the state’s constitutional prohibition on income tax as a way to create a structure that is “a little bit more stable in the future,” Watts added. “I think that we should be having a holistic conversation and we should be looking at what all of our business tax structures look like,” Watts said. Burke AnderssonBurke Andersson said he decided to run this year after being inspired by former presidential candidate Andrew Yang.Andersson, who previously ran a film production company in California and has recently worked as a rideshare driver in Las Vegas, said his main priority if elected would be to push for a universal basic income, an idea made popular by Yang during his campaign where the government would provide everyone with a minimum living wage.Andersson said he believes that the stimulus checks the This Piece Originally Appeared in www.reviewjournal.com Read the full article

[festivalcondosvaughan-blog]

2020 Commercial Real Estate Outlook

The real estate industry is increasingly influenced by rapid technological advances and significant demographic shifts, including increasing urbanization, Baby Boomers 'longevity, and Millennials' distinct lifestyle patterns. Furthermore, macroeconomic and regulatory developments continue to impact profitability. How can companies gain a competitive advantage and drive top and bottom line growth? Here are some trends to watch out for in 2020.

Economic outlook: moderate growth due to higher interest rates?

Gross domestic product growth will likely increase 2.5 percent in 2020, according to Deloitte's third quarter 2016 US Economic Forecast. The modest economic improvement could moderate the pace of commercial real estate transaction activity (CRE).

Volatile global markets have led to continued low interest rates. Deloitte's economics team anticipates that the Federal Reserve will likely raise interest rates in the short to medium term. Higher interest rates are likely to increase mortgage costs and may deter property investments to some degree.

A better employment scenario and higher labor participation are expected to result in an unemployment rate of less than 5 percent. The employment-to-population ratio is projected to peak in 2018 as Baby Boomers retirement may reduce the proportion of employees. Improving labor markets and household wealth is likely to increase consumer confidence.

Regulatory perspective: higher compliance costs on the horizon

The new accounting standards for lease accounting and revenue recognition are likely to increase compliance and administration costs for real estate investment trusts (REITs) and engineering and construction companies (E&C).

While increasing exemptions under the Foreign Real Estate Investment Tax Act of 1980 (FIRPTA) will increase foreign investments in CRE, the risk retention rules will likely reduce the issuance of securities backed by commercial mortgages ( CMBS) and will reduce the availability of capital in secondary and tertiary markets.

Additionally, the Americans Against Tax Increases Protection (PATH) Act of 2015 will not only make REIT tax provisions and research and development (R&D) tax credits easier for E&C companies, but will also increase the Flexibility to invest in new companies for R&D experimentation. At the same time, corporate tax reforms will reduce flexibility for corporations to spin off real estate assets in REIT structures.

Disruptive trends: shaking the CRE market

Collaborative economy. Startups based on the shared or collaborative economy, such as Airbnb or WeWork, are altering the way organizations lease and use CRE. Businesses face challenges from new competitors that provide dynamically configurable spaces and flexible leases. Landlords must rethink their approach to space design, lease administration, and lease length.

Disintermediation of brokerage and leasing. Technological advances are making CRE data more ubiquitous and transparent. These changes allow for online leasing profitably and in real time and threaten the traditional brokerage model. Traditional brokers should consider diversifying their core business focus to include consulting opportunities, investing in data and technology, and collaborating with startups to advance the game.

Competition for talent. The shortage of candidates with strong skills in science, technology, engineering and mathematics (STEM); increasing urbanization; and Millennials' preference for an open and flexible work culture is changing the job market and will generate significant competition for talent. There is likely to be an increased demand for mixed-use developments as consumers prefer to "live, work and play" in the vicinity; The use of office space will be redefined and even streamlined. Companies must choose locations in areas that have concentrations of STEM talent and modernize design and development teams to meet changing consumer preferences.

Last Mille. Online retailing, on-demand manufacturing, and innovations in speed and mode of delivery (such as same-day delivery and electronic lockers) are impacting the retail and industrial markets.

The demand for large commercial and industrial spaces will contract, and there will be a blurred line between these two types of properties. For example, commercial properties could function as distribution centers. While retail owners can try different store formats and improve the end customer experience, industrialists should potentially focus on smaller, more flexible spaces within cities to allow for faster delivery.

Future of mobility: The emergence of "pay-as-you-go" is beginning to challenge the personal property vehicle model. Along with this, the arrival of autonomous vehicles will potentially transform the entire mobility ecosystem. This has the potential to change the dynamics of supply and demand, free up large parking spaces in privileged areas that may have different uses, and change the demographics of tenants. Companies need to be more strategic when analyzing the impact of mobility patterns and options on their income and long-term profitability, exploring design changes in existing spaces, and reviewing tenant strategies.

Home builders: mismatch of supply and demand may offset growing confidence

Home builders' confidence is on the rise due to improved jobs, household incomes and strong demand from Millennials. However, a mismatch between supply and demand may continue due to labor shortages and delays in issuing permits. Home starts increased 0.9 percent year-on-year in August 2016, even though housing permits fell 1.2 percent year-on-year in August. Deloitte's third quarter 2016 US economic forecast suggests that housing starts are likely to reach 1.5 million in 2017 compared to the estimated 1.3 million in 2016. In contrast, in the first half of 2016, Builder orders grew an average of 29 percent compared to the second half of 2015, but homebuilder deliveries decreased an average of 14 percent. As a result, the average order book has risen to 36 percent, mainly due to labor shortages and delays in issuing permits.

Home prices are likely to rise, albeit at a slower rate, due to limited inventory and supply. According to the Zillow® Quarterly Home Price Expectations Survey, the Midwest region may witness increased demand due to job growth and relatively lower prices compared to coastal markets.

In 2016, total home sales are expected to grow approximately 3.6 percent annually. The slower growth is likely to be driven by supply constraints, potentially higher interest rates, and rising prices. New home sales are expected to grow 21.3 percent year-over-year to 609,000 homes. In contrast, existing home sales are expected to grow at a slower rate, approximately 1.9 percent year-over-year, to 5.3 million homes. This is in line with Deloitte's economic team forecast for the third quarter of 2016.

Home mortgage origins and delinquency rates improved in 2015, but could be affected by an impending rise in interest rates, despite banks gradually loosening standards for residential mortgages.

Home builders are building more units to rent, as rental demand and rental values ​​have been strong and home builders are looking to grow and diversify. This strategy is likely to influence the business models of home builders and blur the lines with multi-family owners.

A time of reinvention and change.

Real estate companies will need to reinvent their strategies in 2017 to prepare for and respond to changes in the macroeconomic and built environment. Specifically, companies will need:

• Consider the influence of Festival Condos Vaughan advancements, urbanization, changing consumer preferences, security, climate change, and concern about resource scarcity in real estate decisions.

• Take advantage of technologies such as the Internet of Things, cloud computing, mobility, 3D printing and advanced analytics to be innovative in locating future developments.

• Solve integration problems with legacy systems while adopting new technologies.

• Adopt a multi-faceted, targeted cybersecurity strategy that is safe, vigilant and res

Before posted on Flickr

[rkbaccounting]

For businesses be it large or small managing taxes & preparing tax session can be loathsome. Maximum businesses try & file their tax, chances of discrepancies are enormous. At times it causes a humongous financial blow right at the end of the fiscal year.

By working with a tax accountant you can get a lot of advantage. Here in this article, we will discuss how these accountants & tax consultant in Vaughan are about to help you in the long run. Read on & learn more.

[stephaniefchase]

Bajan Newscap 5/19/2017

Good Morning #realdreamchasers Here is your daily news cap for Friday 19th May 2017. Remember you can read full articles via Barbados Today (BT), or by purchasing a Weekend Nation Newspaper (WN).  

BRUTAL ATTACK –The mother of a child who suffered a brutal beating that left her unconscious at the side of the road dreads returning the teenager to the school where her attackers remain. And Marcia Carrington, an active Parent-Teacher Association (PTA) member, said she also fears her own actions after hearing the account of how the schoolchildren stood on her daughter’s neck and kicked her in her head on Wednesday while she headed to the bus stop outside the Lester Vaughan School. The beat down came to light after a video on social media showed the teenager fleeing her attackers and narrowly escaping being struck by a van along Cane Garden Road, St Thomas. After the attack Carrington paid $500 in medical bills for X-rays and medication and is struggling to get $840 for a CAT scan.  (WN)

SIBLINGS CHARGED WITH ATTACKING MAN GET BAIL - Two brothers were granted bail today when they appeared in court charged with assault occasioning actual bodily harm.  Shamar Andre Rock, 30, and Brandon Ricardo Rock, 16, of Shorey Village, St Andrew are accused of attacking 25-year-old Jamar Green. The incident occurred around 1:30 p.m. yesterday at Shorey Village. Police say Green visited the area to watch a football match and afterward, he encountered the brothers on his way to the bus stop. The Rocks allegedly attacked Green and tied him to a pole. The matter was reported to the police and they found Green tied when they arrived. A video of Green being tied to the pole was circulated via social media. Brandon and Shamar appeared before Magistrate Ian Weekes in the District “D” Magistrates’ Court and they will reappear on May 22.  (WN)

Man arrested during stop-and-search remanded - A man accused of using indecent and insulting language to police officers was remanded to HMP Dodds today. Twenty-five-year-old Darius Kenrick Bowen of #47A, Sanddunes Drive, Sandy Hill, St Philip appeared in the District “C” Magistrates’ Court today before Chief Magistrate Christopher Birch and was remanded to prison until May 22. The alleged offences were committed yesterday along Grove Road, St Philip during a stop-and-search by members of the Tactical Response Unit of the Royal Barbados Police Force. (WN)

SENT UP THEN RELEASED - A young man, who was seen being searched and arrested by police on a cellphone video on Wednesday, was remanded to Her Majesty’s Prison at Dodds yesterday after pleading guilty to using indecent language. But quick work by his attorneys saw Darius Bourne being released from the St Philip facility just after 8 o’clock last night, after spending just over six hours. And now, a former president of the Bar Association, Andrew Pilgrim, is bemoaning the way in which Barbadians are still being remanded for simple matters like using indecent language, or being in possession of small quantities of drugs. Bourne, 25, of Sandy Hill, St Philip, appeared before Chief Magistrate Christopher Birch at the District “C” Magistrates’ Court in St Matthias, Christ Church, yesterday as a result of the altercation with police, and was remanded to Dodds until Monday. (WN)

MAN FACING WOUNDING CHARGE – Police have charged a 31-year-old man with wounding with intent. Jamar Adday Hall of Lot 11D Walkabout Path, Eden Lodge, St Michael, allegedly wounded 35-year-old Kidwe McCollin, at Block 4C, Church Drive, Eden Lodge, St Michael, on April 7. Yesterday, Hall, who was the subject of a wanted bulletin, surrendered himself to police accompanied by an attorney. He appeared before Magistrate Cuffy-Sargeant in the District ‘A’ Magistrates Court today. He pleaded not guilty to the offence and was granted bail in the sum of $10 000 with two sureties, and will return to court on July 21. (WN)

POLICE ACCUSED OF BULLYING TAXI-DRIVER & PASSENGER – There will be no investigation into an allegation of police mistreatment of a taxi operator and his passenger if the aggrieved operator fails to file a written complaint against the law enforcement officers concerned. Assistant Commissioner of Police Erwin Boyce told Barbados TODAY the Royal Barbados Police Force would not act unless there was an official protest to the Police Complaints Authority. The taxi driver, who requested anonymity, said the officers had acted unprofessionally when they stopped him yesterday and demanded to search his vehicle. The entire episode was filmed and posted to Facebook, but the video has since been removed from the social media site. Boyce said if the driver felt his rights had been abused he should bring it to the attention of the proper authorities in the approved manner. In encouraging the driver to report the issue, Boyce said police were allowed to stop and search vehicles at their discretion, but they should state the reason for the search. “You can’t legislate procedure on the road. They speak to the person who is driving and they wave the level of suspicion as to why they are stopping the vehicle. If they are doing vehicle stops they let you know they are doing vehicle stops and they want to see your driver’s licence and insurance and road tax and so on. If there is suspicion that there is contraband in the vehicle and it’s enough to create suspicion, then they can ask the driver of the vehicle who is in charge of the vehicle, to permit a consented search and a search can be done,” the policeman explained.  (BT)

JUDGMENT RESERVED IN POLICE PROMOTIONS CASE – The Court of Appeal Thursday reserved judgment in the case of 14 police officers who are claiming that were bypassed for promotions within the Royal Barbados Police Force five years ago. However, even as the panel of judges led by Chief Justice Sir Marston Gibson weigh their decision, the lawmen’s attorney is already recommending how they should rule. In passionate submissions, during which has was asked to use less emotive language, Queens Counsel Ralph Thorne asked the Court to reverse the decision of the Police Service Commission (PSC) and promote the officers, two of whom have since retired. Thorne argued that there could be “no doubt” that in a matter of such high publicity over the last five years that the public was entitled to believe that there was some “major deficit” with the service records of the officers that disqualified them for promotion. Therefore, he pleaded with the court to “render unto Caesar the things that are Caesar’s”.    In his three-hour long presentation in the No.1 Supreme Court Thursday morning, Thorne made submissions on 16 of 18 grounds of appeal. The other two grounds were argued on March 22. The officers are challenging last December’s ruling by Justice Margaret Reifer, who upheld the PSC’s decision to remove their names from the 2012 promotions list, and instead inserted alternative names, without further reference to the then Commissioner of Police. Thorne charged that the principles of fairness, transparency and justice were not followed by the PSC as stated under the Public Service Act 2007 when it took its “unlawful” decision. (WN)

LANDLORD’S FAULT - Laws that govern landlord/tenant conflicts are “clear”.  An attorney at law said the fault was at the landlord should any tenant overstay their welcome for an extended period of time, as there were procedures in place to have them removed. “Most of the time, people don’t know exactly what they have to do, either they are not following through or they are doing the ejectment wrong. I think it is really the tardiness of the landlord to allow someone to stay so long without receiving payment,” he said. Take the case of Sandra Walkes, who found herself unable to pay her bills because her tenant had refused to pay rent for three months or to move out despite being served two eviction notices. Her situation got to the point where she considered changing locks and there were contentious confrontations between her tenant and her children. She finally went to the police and consulted an attorney. (WN)

DANGEROUS ROAD! NUPW WARNS GOVT NOT TO TAKE A CAPITALIST APPROACH – Ahead of the May 30 National Budget presentation, the National Union of Public Workers (NUPW) has sounded a stern warning to Government that the island’s public servants are already at the point of saturation. Therefore, the union says, now is not the time to be piling on any more taxes on Government workers, who it also described as overburdened. He further cautioned that the very social fabric that has held the society together stood to be destroyed, with some workers now faced with a choice of “feeding their families, buying medication or paying their commitment for their shelter” and already vulnerable to corruption. The NUPW leader was reacting to recent comments made by the Chairman of the Barbados Private Sector Association Charles Herbert, who was also a member of the Fiscal Deficit Committee recently convened by Prime Minister Freundel Stuart to advise him on the way forward for the floundering economy. With this in mind, the NUPW agrees that urgent remedial action is needed. However, it is adamant that the burden of austerity must be equally spread around. While acknowledging that streamlining and rationalization could bring about needed savings and that spending cuts must be made, McDowall further warned Government against going down the road of profit making at the sacrifice of workers, saying it would only yield deleterious results. (BT)

INCOME GAP GROWS - Income inequality IN Barbados is heading in the wrong direction. That’s the conclusion of new research by a Guyanese economist, who linked the trend to increasing wealth generated through the international business and financial services sector. Collin Constantine is a development economist who is a PhD student in economics at Kingston University London. Last month, he released the working paper A Community Divided: Top Incomes In CARICOM Member States and found that “Barbados is clearly the best performer is terms of rising inequality”. Constantine’s research covered the period 1960 to 2015. He noted that traditionally the region’s relatively high inequality countries were Belize, Suriname, Guyana, Jamaica and Haiti. Barbados has usually been among the relatively low inequality countries that include Trinidad and Tobago, The Bahamas and St Lucia. However, the economist found that “in the Barbados case, top incomes have steadily increased since the 1970s”. Put differently, he explained, “the middle class in Barbados has been shrinking”. Despite this, Barbados still had the lowest level of income inequality among CARICOM member states during the 1980s. Constantine said this had changed and Barbados was “rapidly converging to its high inequality peers”.  (WN)

KELLMAN CHIDES GOVT OVER AIRBNB – Businessman and Minister of Housing Denis Kellman is warning his own Government it can no longer ignore the importance of the increasingly lucrative online marketplace, Airbnb, to the Barbados economy. Kellman, the Member of Parliament for St Lucy, said a disservice was being done to the economy by not measuring the contribution the homestay programme was making to gross domestic product. The global accommodation facilitator has said that some 1,100 Barbadian homeowners had listed their properties on its website, each earning an average of US$3,900 a year. Two per cent of long-stay visitors to the island – some 16,000 people – stayed in Airbnb listed properties last year, a company official said recently.    Kellman sees the online community marketplace as an avenue through which ordinary Barbadians can contribute to the tourism sector, in very much the same way they helped grow the sugar industry. The Airbnb hosts here last week launched the Barbados Entrepreneurship & Tourism Association to advocate on their behalf. Founder of the non-profit organization Neeraj Vensimal said it was important for them to have a voice so they could make an input into pending legislation and other developments relating to the tourism sector. (BT)

MCCLEAN STRESSES NEED FOR CARICOM UNITY – The present and future global environment demands that the Caribbean Community (CARICOM) engage in a process of “evaluation, revision and consolidation”. This advice was given by Minister of Foreign Affairs and Foreign Trade, Senator Maxine McClean, while addressing the opening ceremony of the Twentieth Meeting of the Council for Foreign and Community Relations (COFCOR), at the Lloyd Erskine Sandiford Centre, this morning. Senator McClean, the incoming Chairman of COFCOR, told her fellow Ministers of Foreign Affairs: “It is imperative that we deepen and strengthen community engagement and, as a cohesive body, leverage our voices as one to derive maximum benefit for the region”. She stressed that recent political developments in the hemisphere and Europe involving long-term CARICOM partners would likely have “a profound impact” on the region. (WN)

HEAR US PLEASE – A group of Venezuelan women living here attempted to crash the meeting of Caribbean Community (CARICOM) foreign ministers Thursday, to highlight their opposition to the embattled president, Nicolas Maduro. Members of the Civil Society of Venezuelans in Barbados gathered outside the Lloyd Erskine Sandiford Centre at about noon Thursday, the opening day of the 20th meeting of the CARICOM Council for Foreign and Community Relations, to protest against the economic situation in their homeland and Maduro’s refusal to hold overdue elections. However, the demonstration was short-lived as they were quickly ushered off the compound by police and security personnel because they did not have a permit to protest.  (BT)

FORMER DLP CANDIDATE RUNNING AS INDEPENDENT - Three-time Democratic Labour Party candidate for St Joseph Randall Rouse has announced he will be contesting the next General Election as an independent candidate.  Rouse made this disclosure earlier this morning during a press conference at his Airy Hill, St Joseph constituency office.  "The decision I make today comes out of total frustration with this government as it relates to its lack of communication with the public on public matters, lack of leadership, lack of clear explanations for some of the policy decisions taken, the apparent anti-worker stances taken and more especially, this government's total refusal to accept positive economic advice even from its own economic advisors in the economy," Rouse said.  The now independent candidate said he had several concerns with the representation in St Joseph, but chief of these were the lack of adequate transport, the poor conditions of the bridge at Melvin's Hill and the inadequate healthcare facilities across the parish. (WN)

NATIONAL DISGRACE – The Opposition Barbados Labour Party (BLP) spokesman on transportation is demanding a “credible and functional” plan from Government to increase the number of buses on the roads and bring relief to the travelling public. Former Chairman of the Transport Board Ian Gooding-Edghill complained in a recent statement that the state-run bus system had become a “national disgrace and embarrassment” and the Freundel Stuart administration did not appear to have a plan to remedy the situation. The BLP St Michael West Central candidate charged the current administration was mismanaging the transport agency, spending over $108 million on maintenance with little to show for it. The Opposition politician, who lost the seat by 193 votes to James Paul of the governing Democratic Labour Party in 2013, said the shortage of buses, compounded by financial problems, had been going on for much too long and Barbadians were the ones suffering as a result. He contended that not since the early 1990s had the Transport Board been in such a “deplorable” position. (BT)

ST. THOMAS DANGER ZONE - The people living and driving through the Shop Hill to Duke’s area and beyond are crying out for relief. There are blind corners, narrow roads, a sunken bridge, bush hindering eyesight and a lack of sidewalks and people are frustrated with this true danger zone where many people have lost their lives. One life lost in particular, 17-year-old Anyica Yearwood who was killed in 2010, is still fresh in many people’s minds. She was dragged by a vehicle which had struck her while she was waiting at a bus stop along Shop Hill. Armintha Headley lives near the area where that tragedy occurred. She said it was still dangerous there. (WN)

EX MANAGER FUMES AT SANDALS – A FORMER SANDALS BARBADOS employee is accusing her old workplace of giving her the runaround. Renée Ally, the hotel’s former landscape manager, said she was dismissed in June 2016 and almost a year later was still in limbo regarding a proper compensation package. “I had been there for about 23 months before I was dismissed. They claimed it was my performance but I never had any write-ups or disciplinary action against me on file so I don’t know why,” she said. “I went to the Labour office to state my case as I knew I had been unfairly dismissed and I wanted compensation.” (WN)

MALLALIEU ON THE MOVE – Barbados Motoring Federation (BMF) president Andrew Mallalieu is facing a busy few weeks of travelling as he attends three of the next six races on the Grand Prix calendar as an FIA (Federation Internationale de l���Automobile) steward. And his continuing commitment to the work of the world governing body reflects well on the BMF, and on the island, one of the smallest nations affiliated to the FIA. Mallalieu will officiate as a Formula 1 steward at the Austrian GP on July 9, and also, for the first time, as F2 steward, in Monaco (May 27) and Hungary (July 30). In addition to his work as a steward, Mallalieu has been a member of the Rallies Commission, representing North America and the Caribbean, since 2010, a position he was invited to take up by the then-new FIA President Jean Todt, who was keen to involve more younger delegates. He is also a director of NACAM, which encompasses 14 FIA-affiliated countries in the region. (WN)

COVERS SNAG – There is a crisis with the covering of pitches in the Barbados Cricket Association’s (BCA) major competitions because of old and inadequate covers. This was disclosed by BCA director of cricket Steven Leslie yesterday after the majority of first-round matches in last Saturday’s Super Cup 50-over championship ended in no-results due to wet areas, either on the pitch or by the bowlers’ run-ups. “We do have a crisis in Barbados right now with the provision of covers. “I would say that we are in a position where, possibly just a few clubs have what I would consider adequate covers and a large majority, who [have] if not inadequate covers, have covers which certainly are not able to fulfil the requirement of both the pitch and the run-ups,” Leslie said in an interview with WEEKENDSPORT.  (WN)

FOSTER, CHIC CHIC MAKE MARK IN DRESSAGE – Roberta Foster and Chic Chic were winners in the Intermediate 1 class during last weekend’s Dressage competition at Congo Road Equestrian Centre, St Philip. The 2016 second-placed International Equestrian Federation World Dressage Challenge pair, who recently returned from training and competing in the United States for three months, are making their mark, having competed in Prix St George with scores in the 60s. Fifteen-year-old Bree-Anne Hurdle has proven she is the most outstanding junior dressage rider, having achieved successful scores in the high 1960s and 1970s, aboard her mount Vivaldi in the last three competitions at the higher level. She also rode the first level test aboard Rumba, securing a 63.97 per cent, while 12-year-old Indy Jones, who prefers to be in the show jumping ring, competed with Essien in dressage and achieved a score of 63.53 per cent to capture second place. (WN)

YOUNG NETBALLERS SHOW PROMISE – Grantley Prescod registered the biggest scoring margin on court today when the National Sports Council’s Pine Hill Dairy-sponsored Primary Schools Netball Competition continued at the Police Boys and Girls Sports Club. Playing in the Marion Johnson-Hurley and Carolyn Sinckler zone, Grantley Prescod trounced St Gabriel’s 12-1 with goal-shooter Kimberley Phillips scoring seven of ten attempts and Azariah Ashton five of six. Goal-shooter Megan Cyrus shot the lone goal for St Gabriel’s. Meanwhile against St Ambrose Primary, Grantley Prescod shooters were not so free but still managed to pull off the win 2-0 with one goal each from Phillips and Ashton. (BT)

BAJANS SHINE AT WOODBINE – Three Barbadian horsemen were part of the winning connections of the midweek race card at the Woodbine Racetrack Wednesday. Ace veteran jockey Patrick Husbands and his nephew Simon, along long-standing trainer Ricky Griffith logged wins in each of the last three races on the day’s eight-race card at Canada’ premier racing oval. The elder Husbands steered 5-1 chance Conquest Boogaloo to a half-length victory in the CAN $62,300 sixth race, going 1,700 metres on the all-weather track.  (BT)

That’s all for today folks. There are 226 days left in the year Shalom! #thechasefiles #dailynewscaps Follow us on Twitter, Facebook & Instagram for your daily news. #bajannewscaps #newscapsbystephaniefchase

[jaigeddes]

Problem jobs cause £92.3m loss at Costain

Two problem contracts saw Costain slump to a pre-tax loss of £92.3m during the first half of this year from an £8.4m profit last time.

The impact of Covid-19 also saw turnover dip to £548.7m from £599.2m for the half year.

But Costain bosses are confident about future prospects after securing £2bn of future orders during the period and shaking-up management systems in a bid to avoid future problem contracts.

Results were hit by a £45.4m charge on the A465 Heads of the Valleys road contract and £49.3m on the Peterborough & Huntingdon gas station job.

Alex Vaughan, chief executive officer said: “We are clearly disappointed with the recent arbitration outcome in relation to the A465 contract which, together with the mutual termination of the Peterborough & Huntingdon contract, has resulted in significant revenue adjustments for these long-standing projects.

“We have in place clear actions to resolve the financial position on these contracts and importantly we have taken decisive action to prevent such issues from reoccurring.”

Costain has pulled out of the Energy EPC market and has introduced a raft of new contract risk management measures in a bit to avoid problem jobs.

Vaughan said construction would make up a smaller percentage of future work “with a future ambition for 45% of our profits to be derived from complex programme delivery (currently c67%) and 55% from our consultancy and digital services (currently c33%).”

He added: “The strategy will support improved profitability as we seek to deliver our divisional margin of 6% to 7% over the medium term.”

[ebenalconstruct]

Problem jobs cause £92.3m loss at Costain

Two problem contracts saw Costain slump to a pre-tax loss of £92.3m during the first half of this year from an £8.4m profit last time.

The impact of Covid-19 also saw turnover dip to £548.7m from £599.2m for the half year.

But Costain bosses are confident about future prospects after securing £2bn of future orders during the period and shaking-up management systems in a bid to avoid future problem contracts.

Results were hit by a £45.4m charge on the A465 Heads of the Valleys road contract and £49.3m on the Peterborough & Huntingdon gas station job.

Alex Vaughan, chief executive officer said: “We are clearly disappointed with the recent arbitration outcome in relation to the A465 contract which, together with the mutual termination of the Peterborough & Huntingdon contract, has resulted in significant revenue adjustments for these long-standing projects.

“We have in place clear actions to resolve the financial position on these contracts and importantly we have taken decisive action to prevent such issues from reoccurring.”

Costain has pulled out of the Energy EPC market and has introduced a raft of new contract risk management measures in a bit to avoid problem jobs.

Vaughan said construction would make up a smaller percentage of future work “with a future ambition for 45% of our profits to be derived from complex programme delivery (currently c67%) and 55% from our consultancy and digital services (currently c33%).”

He added: “The strategy will support improved profitability as we seek to deliver our divisional margin of 6% to 7% over the medium term.”

  from https://www.constructionenquirer.com/2020/09/14/problem-jobs-cause-92-3m-loss-at-costain/

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Andrew Wyllie to retire from Costain after 14 years at helm

Andrew Wyllie is retiring as CEO of Costain after 14 years leading the business.

His replacement is current managing director of the group’s natural resources division Alex Vaughan who will take charge in May.

Wyllie will now pursue a non-executive career and he recently took up the presidency of the Institution of Civil Engineers.

He said: “It has been a great privilege for me to be chief executive of Costain for the last fourteen years. 

“Much has been achieved over that time as a result of the combined efforts of an outstanding team and I would like to thank my colleagues for their support and commitment. 

“With a clear strategy, strong balance sheet and a record order book, the business is in an excellent position to deliver further growth in the future.”

Wyllie unveiled another strong set of results for the year to December 31 2018.

Alex Vaughan will take over as  CEO in May

Pre-tax profits dipped slightly to £40.2m from £41.8m as group revenue fell to £1,489.3m from £1,728.9m.

Costain had an average month-end net cash balance of £77.1m during the year.

Wyllie said the company was well placed to enter a “new era defined by the start of the Fourth Industrial Revolution.”

He said: “The Fourth Industrial Revolution is now having a global impact and is characterised by a fusion of technology breakthroughs that are blurring the lines between the physical, digital and biological spheres.

“These breakthroughs are occurring in a number of fields including artificial intelligence, robotics, nanotechnology, quantum computing and biotechnology.

“We are therefore seeing a rapid change in the spending patterns of our clients, with the deployment of emerging technology being core to their next generation of infrastructure solutions.

“We are strategically positioning Costain at the forefront of this revolution, transforming the business into a leading smart infrastructure solutions company.

“This differentiation is allowing us to seize the wide array of exciting opportunities being created for our business.

“Our considerable expertise across the integration of technology, consultancy, asset optimisation and complex delivery services places Costain well in this rapidly-evolving market.”

  from Construction Enquirer http://www.constructionenquirer.com/2019/03/06/andrew-wyllie-to-retire-from-costain-after-14-years-at-helm/

[mikemortgage]

Sidewalk Labs says wider vision for Toronto waterfront – tax revenue, transit – still ‘concepts in progress’

Sidewalk Labs, the Google-affiliated company trying to redevelop a portion of Toronto’s waterfront, scrambled to clarify its plans on Friday after it was revealed the company’s ambitions in the city were more extensive than had been previously announced.

For more than a year, Sidewalk has been working on its proposal to redevelop the Quayside neighbourhood into a kind of “smart city” prototype — a Silicon Valley fever dream of robots, autonomous cars, intelligent stop lights, wooden buildings — all using data to make life easier for humans.

But a report in the Toronto Star on Thursday, citing internal presentation slides, suggested that Sidewalk’s ambitions extended beyond a few sparse city blocks.

Sidewalk Labs wants cut of property taxes and development fees for Toronto Quayside project

'Terrifying if we get it wrong': Sidewalk Labs needs to slow its process, advisory panel experts say

Sidewalk Labs urged to scrub 'treasure trove' of personal details from its Toronto smart city

According to the report, Sidewalk is seeking to facilitate the development of more than 140 hectares across Toronto’s dilapidated eastern waterfront. To expedite the normally glacial pace of public projects, Sidewalk would potentially pay for transit and infrastructure on the underdeveloped waterfront in exchange for a cut of property tax revenue and developer fees.

Sidewalk Labs confirmed some of those details in a blog post, but noted that it wasn’t planning on developing the entire waterfront itself.

Rather, the point is to finance the infrastructure and transit needed for outside development to take place.

“First of all, I want to be clear,” said Micah Lasher, Sidewalk’s head of policy and communications. “These are still concepts in progress. They have not been approved by Alphabet.”

The news still prompted a string of replies from politicians.

Toronto Mayor John Tory responded by stressing that the plan was far from a reality, noting in a statement Friday that Sidewalk hadn’t submitted its proposal for public consultation and government approval, so “no permissions or dispensations have been granted.”

Asked if the mayor was aware of Sidewalk’s change in thinking before the news, his office referred back to the statement.

An Ontario government source added that Premier Doug Ford would never have signed off on the newly revealed details.

Liberal MP Adam Vaughan — a Ford adversary and former Toronto city councillor — said although the Sidewalk offer to finance transit is not “the best way,” it’s proof that developers are desperate for a light rail transit extension into the eastern waterfront area.

“All we’re hearing from the development sector is ‘Where’s the LRT?'” he said. “The best way to respond to the (Sidewalk) document … is to step up and built the LRT with public dollars.”

Sidewalk has been working on its proposal for Quayside since 2017, when it won a request for proposals issued by Waterfront Toronto — the Crown corporation tasked with managing Toronto’s waterfront by the federal, provincial and municipal governments. Sidewalk’s master plan for Quayside — officially called the Master Innovation and Development Plan or MIDP — is expected to be submitted to Waterfront Toronto in the coming months.

But Lasher said that from the outset, Waterfront Toronto was clear that the Quayside project would always need to scale up if it was going to be successful. “I don’t think it’s fair to say that the notion of exploring geographic scale is something that’s new,” he said.

In an interview earlier this month, Waterfront Toronto’s chief development officer Meg Davis told the Financial Post that she had seen the “lion’s share” of the master plan’s chapters. But in a statement Friday, Waterfront Toronto would only say that “while preliminary plan concepts from Sidewalk Labs have been shared with us, we have not received a full proposal that includes an underlying business plan.”

“If the MIDP from Sidewalk Labs does not deliver on the priorities that we have set out for Quayside, in a manner that is in the public interest, then the proposed plan will not be implemented,” the statement read.

The statement also reiterated that Sidewalk was selected “to develop a plan for Quayside as a testbed for the broader revitalization of Toronto’s waterfront.”

Sidewalk should take that as a hint to get on track, said Paula Fletcher, the city councillor for the area. “I’m just very confused,” she said. “And I think we’re going to stumble around a while longer until this gets sorted out.”

For some, the revelations were further proof of Sidewalk’s struggles with transparency. The group has faced accusations that it has been too secretive throughout the process. But Lasher said the company has consulted more than 18,000 residents, before submitting its final proposition — which will see more government and public scrutiny.

In October, tech entrepreneur Saadia Muzaffar resigned from Waterfront Toronto’s advisory panel overseeing the Quayside project, over “profound concern” about transparency.

“There has been outright obfuscation and complete avoidance of accountability when asked about their business model for over a year,” she said in an email Friday. “Toronto residents have been gracious so far, but we are done dealing with bad faith actors who have been hiding critical information from us while trying to propose deals. Our home city does not need them for good city-building. We are done.”

—With files from James McLeod, Financial Post

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