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Profits at Barclays are hit by credit squeeze

BARCLAYS has said that profits fell at the start of this year after the credit squeeze brought a reversal of fortunes at its investment banking arm. Read

Learning saving lesson

AS OIL supplies tightened in Scotland this week and prices hit record highs at the pumps, one local haulage firm has sent its drivers back to school in a bid to slash costs. Read

Banks ‘in no rush to settle’

SCORES OF claims by Teessiders who say they have been cheated out of money by the high street banks could sit on lawyers’ desks for months, a debt specialist said today. Read

Biofuel chief backs rival

A LEADING energy chief has claimed a second bio-fuels plant in East Yorkshire “would have great synergy” with operations in the North East. Read

Farms give food to grow

RISING FOOD prices have led two Tees companies to target what they predict will be a booming agricultural sector as they grow their businesses. Read

Tees price-fixing ‘rife’

PRICE-FIXING and preferred bidding in the construction industry, which has been slammed by the Office of Fair Trading, is rife in Teesside’s booming building sector, according to local contractors. Read

The Buzzard rig at Heerema yard

Jobs boost on way with big yard order

MORE than 300 jobs could be created at a North East yard with a massive contract win by offshore oil and gas engineering company Heerema. Read

Arriva’s revenues soar – but fuel cost rises cause concern

ARRIVA’S revenues jumped by more than 60% in the first three months of this year as the public transport giant drove up business at home and abroad. Read

Harsh words for bank boss

A RETIRED North East businessman accused bank boss Sir Fred Goodwin of “unbelievable bad management” when he vented his anger at the company’s £12bn rights issue. Read

Bank rate-setters divided

THE Bank of England’s dilemma between inflation fears and staving off a slowdown has been highlighted by news that rate-setters were split three ways for the first time in nearly two years. Read

Footsie bounces after early losses

THE UK markets spent the morning in the red, with the leading FTSE Index losing 55.9 points by lunchtime, before recovering to close in positive territory. Read

£100m power plant scheme

CONSULTATION has begun over plans for a £100m “energy from waste” plant in Billingham, which could create up to 40 permanent jobs. Read

Airports review may boost Tees

THE owner of Durham Tees Valley Airport said it did not rule out bidding for one of London’s gateways if a Competition Commission ruling forces BAA to break up its UK portfolio. Read

Price Right project aims to lend a hand

MIDDLESBROUGH-based Price Right Properties is targeting opposite ends of the social scale in Stockton as it launches a £635,000 investment portfolio. Read

Valley is in sights of Punch

PUB operator Punch Taverns has revealed that Tees Valley is in its sights for future acquisitions, as it announced interim results today, but it also said a deal with rival group Mitchell & Butlers, which owns the Tall Ships in Hartlepool, was probably off. Read

Rock valuation battle

A LEGAL battle between Northern Rock shareholders and the Government has come a step closer following Treasury lawyers’ rejection of investor pleas for “fair compensation”. Read

Tanfield hit road with zero emissions taxis

ELECTRIC vehicles maker Tanfield has announced a potentially lucrative deal to develop the world’s first zero emissions taxi cab after revealing a 310% climb in profits. Read

Historical Hadrian Yard put on market by Amec

DECADES of North East industrial heritage is going up for sale as engineering and construction firm Amec puts its Hadrian Yard in Wallsend on the market. Read

Consolidation on agenda after Ferschl Group MBO

A NEW era is dawning for a manufacturing company after its managing director and three senior staff completed a successful management buy-out from the owner and his wife. Read

RBS looks to shareholders for £12bn of new capital

THE boss of Royal Bank of Scotland dismissed calls for his resignation after asking shareholders to pump in £12bn of new capital. Read