A report commissioned today shows that the UK has continuously remained top in the attraction of foreign investments in Europe. Its capital, London, has sustained its reputation as a hub for the global financial sector, coupled with UK’s vibrant corporate relationships with US, have bolstered UK’s lead as the top European destination for inward investments.
Insurance company AXA plans to create 200 new jobs in Dublin in the coming three years through the establishment of a global life-product distribution and servicing subsidiary. In this expansion investment, the company intends to create jobs at AXA Global Distributors in Dublin in marketing, finance, information technology, telephone sales, product development, customer services, policy and administration.
New reports have suggested that the UK government Environment department’s £250 million cuts will be generated from the conservation and green building schemes. This week, green organizations will be assessing the extent of the effects of the new big cut to be imposed by the government.
Walmart’s Asda unit on Friday announced its plans to acquire Netto Foodstores from Denmark’s Dansk Supermarkets for a whooping £778 million as part of its expansion plans in the UK. This investment acquisition of Netto’s UK outlets will mark the first major challenge for its new Chief Executive, Andy Clarke, who took over from Andy Bond this month.
Prudential reported that it’s currently in talks with AIG over the terms of its planned £24.5 billion takeover of AIA (Asian arm of AIG’s operations); however, there was no certainty it would lead to a change of the takeover terms.
Suntech Power Holdings Co. Ltd, the biggest manufacturer of crystalline silicon photovoltaic modules, got its official certification under the Microgeneration Certification Scheme (MCS) UK, a requirement for any solar investors in the UK market, for its models that have remained popular around the world. This certification means that customers and value added resellers operating in the UK will be able to use the company’s solar panels for electricity generation.
Broadband providers in the UK are expected to meet the government to discuss means through which to improve web connections in rural areas. An announcement by the KC Company revealed a planned investment of £4 million for quicker broadband in Yorkshire as the UK’s MPs prepare to meet with broadband services providers for discussions on broadband accessibility in rural areas.
May 25, 2010.
Newport is a city and unitary area in Wales, about 12 miles east of Cardiff and the largest urban area within the Monmouthshire and Gwent counties. The city, under jurisdiction of the city council, has a population of 140,200, making it the seventh most populous unitary authority in Wales. However, independent data from a 2001 census has placed the population of the core built up area at 116,143; that makes it the third most populous city in Wales.
North Ireland is the smallest of the four countries that make up the United Kingdom with a relatively small population. Out of the twelve NUTS 1 regions, its economy is the smallest and is largely based on industry, particularly ship building, rope manufacture and textiles but in the last decades, heavy industry has gradually been replaced by services. Its economy is estimated at €37.3 billion, around two thirds of the next smallest county, North East England; but with a GDP per capita that is greater than North East England and the Wales combined.
According to experts at the National Computing Center (NCC), the IT and computing industry in the UK is yet to fully recover from the effects of the global recession.
London is the UK’s major financial and commercial hub for both local and international businesses. It is recognized as one of the three global economic “command centers” and the 16th largest city economy world wide. In addition, London is as well the European Union’s second largest city with about 20% of the UK’s GDP directly being contributed by the city; that translates to £446 as at 2005. On the other hand, the metropolitan area of the city generates about 30% of the UK’s GDP or an estimated £669 billion.
With a population of roughly 149,000 inhabitants, Oxford is central to the economy of Oxfordshire and its neighboring areas with its 3,400 businesses that provide about 106,000 jobs. Annually, about 9.3 million tourists visit this city that has seven of the ten biggest employers in the UK. The services industry accounts for 89% of employees with 19% in retail, hotel and catering. About a half of the city’s workers are residents outside the city thus there is a high level of in-commuting into the city.
Investor sentiment in the UK corporate bond market continued to improve with the tightening spreads across the board. With the hope that the global recession is nearing its end, fears over the expected systematic failure in the UK financial system are fading away. It is expected that interest rates will unlikely not fall any further and the market is hopeful upon signs that the BoE’s quantitative easing measures will take effect. The UK issuance market continued swiftly with the 2009 total already exceeding £70 billion.
The construction sector in the UK is made up of; infrastructure, repair and maintenance, public and private housing, non residential public property such as schools and Hospitals and other public amenities, industrial such as factories and processing plants and the commercial construction sector. Almost a third of new jobs in this industry in the UK are taken by graduate since most of them consist of typical graduate roles such as Architects, business process managers and technical engineering.
The North Eastern England comprises of the Tyne and Wear, Northumberland, County Durham and the Tees Valley. North Eastern England has an economy that is dominated by the manufacturing, business services and the public sector. Durham County has many opportunities for investments in the real estate sector with its economy beings one of the most dynamic economies in the UK. Major investments in advanced technology have been undertaken in this region with companies servicing an expanded market with technology based products.
The East of Midlands in the UK has an economy that largely relies on manufacturing. Manufacturing remains a key UK investment sector with companies such as Bombardier, Rolls Royce and Toyota at Derby, boots Pharmaceuticals and imperial Tobacco in Nottingham. Other companies like Siemens, are located in Lincoln. The East Midlands textile industry has been affected by cheap foreign imports and high interest rates. This saw some companies like Richard Roberts in Leicester close shop. Others that could not stand the competition relocated e.g. Speedo went to Asia.
Glasgow is the second biggest city of Scotland and contributes a huge chunk towards the Scottish economy. Estimates place its annual contribution to the economy at £13 billion making it a destination for investments. Like east of England, Glasgow is another of the UK’s leading knowledge based economies. Investments in Glasgow have been robust in the finance, education, media, broadcasting, business services, and property investments amongst others. This city boasts an employment level that tops 420,000.
Aerospace companies in the UK have a long history of being a leading aviation industry in Europe. Aerospace companies in the UK are competitors in all niches of aircraft manufacturing. There are lots of invest UK opportunities in the Aerospace sector. The industry tops second world wide in terms of employment creation and attracts highly skilled people. Despite the global recession, the industry performed quite remarkably showing little signs of its effects as companies saw through their long term contracts and development projects.
The Greek debt crisis and the UK’s reality of a hung parliament are dominant worries for investors. The two predominated investor sentiment as the election was concluded with no clear majority winner. As a result, the FTSE plunged on Friday afternoon trading. London’s leading share index had a fall of 2.78% as it reacted to news of the election and continuing debt crisis in Greece. The index declined from an earlier trading at 3%.
The east of England accounts for a huge sum of business in the United Kingdom. Estimated at over 430,000, it provides about 10% of UK’s exports per annum. It’s supported by a vibrant economy with sectors such as Healthcare, ICT, biotechnology and Pharmaceutical, Aerospace and Airports, the Automotive Industry, Food and Drink; and the Creative media. It has been widely referred to as the innovation capital of the UK, chiefly in the biotechnology and Technology sectors.