Interview: Margaret McPherson, business strategist

Interview: Margaret McPherson, business strategist was originally published on Daily Business

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Court orders King to comply with Takeover Panel ruling

Rangers chairman Dave King was yesterday issued with an ultimatum in the Court of Session that threatens to overshadow new manager Steven Gerrard’s debut league campaign.

Court orders King to comply with Takeover Panel ruling was originally published on Daily Business

Almost 50 infrastructure projects delayed or over-budget

M8 road works

Motorway improvements are among those affected by delays


 

Almost 50 major infrastructure projects are delayed or over budget in Scotland, according to Scottish Labour.

Analysis by the Scottish Parliament Information Centre (SPICe) shows 15 major projects have gone over budget between November 2016 and March 2018.

The analysis also shows that 30 projects have had their completion date changed to a later date over the same period.

This means that, of the 49 projects for which estimated budgets and completion dates are given, 45 of them are over budget, delayed, or both.

Some of the projects highlighted in the research include the M8 M73 M74 Motorway Improvements Project, which cost £13million more than expected.

Other projects include the NHS Orkney New Hospital and Healthcare Facilities, which are almost £10million over budget and delayed by five months.

Scottish Labour said the scale of delays and spiralling costs strengthened the case for a review of public procurement.

Scottish Labour’s economy spokesperson Jackie Baillie, said: “The scale of these delays and the spiralling costs seriously calls into question the SNP’s handling of major infrastructure projects.

“The fact that so many projects are over budget, delayed, or both is unacceptable – and, given financial and timescale details are only available for 49 out of 87 projects, this could just be the tip of the iceberg.

“We already know the SNP government is putting billions of pounds of taxpayers’ money for public projects in the hands of private companies – and these figures show that people in Scotland are not getting value for money.

“There needs to be a wholescale review of public procurement in Scotland, including spending on major infrastructure projects.

“People in Scotland deserve better than a policy that lines the pockets of shareholders only to leave important works delayed and over budget.”

Queensferry Crossing work unfinished

The revelations emerged as it emerged that work on the Queensferry Crossing will not be completed until the end of next year.

There have already been delays to fixing snagging work, which was due to be finished in September.

Transport secretary Michael Matheson has revealed that painting the underside of the road deck will not be finished until December 2019 because of delays in installing a platform to ensure the safety of workers in all weathers.

He said the painting work would not affect motorists, though many have complained that the crossing suffers from off-peak lane closures causing huge delays that the bridge was supposed to resolve.

Last November, one carriageway was closed for five days for repairs after surfacing around expansion joints was laid too high

Almost 50 infrastructure projects delayed or over-budget was originally published on Daily Business

Trump in new Chinese tariffs threat

Shares in London fell after President Donald Trump made new threats to impose more tariffs on Chinese goods and questioned the Federal Reserve’s interest rate policy.

He said that he feels the US is being taken advantage of on several fronts including trade and monetary policy.

In an interview with CNBC he said: “I’m not doing this for politics, I’m doing this to do the right thing for our country. We have been ripped off by China for a long time.”

The president says he asked the Chinese government: “How did it happen?” And they told me, ‘Nobody ever complained. Nobody ever talked to us.’”

He says that a Chinese official told him: “There was never anybody to talk to in the United States. We would put on a trade barrier, where you couldn’t sell cars, or you couldn’t sell beef, or you couldn’t sell your farm products.

“We would put it on, and nobody would talk to us in the United States, so we said, ‘Hey, that’s great!’ Then we’d put on another one. We’d put on a tariff on cars – 25% – and you’d charge us virtually nothing – 2.5%. But they don’t pay it. So we would do this and nobody would talk. We’d start off at a lower number. We’d raise it, we’d raise it.

“Nobody would ever complain until you came along.”

After dipping to 7,634 in mid-afternoon trade, the FTSE100 recovered to close just 5.18 points lower at 7,678.79.

Earlier, Mr Trump criticised the Federal Reserve for hiking interest rates.

He said he is “not thrilled” about interest rate rises, upsetting market analysts who said that questioning central bank independence likened the US to a developing country.

Mr Trump added: “I don’t like all of this work that we’re putting into the economy and then I see rates going up.”

Trump in new Chinese tariffs threat was originally published on Daily Business