08 March 2010


Clydesdale Bank warns farmers ‘playing safe can be a gamble’

AS the deadline looms for Cambridge farmers to decide in which currency to receive their Single Farm Payment (SFP), the overwhelming majority will once again opt for it to be converted into Sterling. But making the wrong call in the annual Sterling versus Euro debate could lead to farmers losing out on thousands of pounds.


At first it seems like a sensible, straightforward decision, but it actually contains a risky gamble, according to Claire Thomas (pictured above), a treasury partner in Clydesdale Bank’s East of England agri-business team. So, why is the annual decision such a tricky one?

“Because the exchange rate used to calculate the SFP is not set until the last working day of September, farmers are effectively having to gamble on how they think the global financial markets will look a further six months down the line,” said Claire.

“At the moment Sterling is particularly weak against the Euro but currency rates have been very volatile and a number of factors suggest Sterling will strengthen against the Euro following the General Election in May, unless there is a hung parliament.”

The difference between the EUR/GBP exchange rate now (0.90) and our EUR/GBP exchange rate forecast for September (0.85) equates to a 5.5% movement, explained Claire. “On a payment of €100,000 that would mean a potential payment difference of £5,000, a considerable sum that any business would welcome,” she added.

One option for farmers is to elect to receive their SFP in Euros and enter into a Forward Exchange Contract with Clydesdale for the 2010 harvest payment, and the subsequent two years if they so wish.

This allows the farmer to lock into today’s exchange rate for a future date – thereby taking control of the exchange rate for converting Euros back to Sterling instead of leaving it to chance. The exchange happens on an agreed date or within an agreed window –and the farmer receives the benefit of today’s exchange rate.

Claire added: “Of course, there are exchange rate risks regardless of whether the SFP is taken in Euros or Sterling. But forward fixing offers protection against fluctuations in the exchange rate much as a fixed-rate mortgage protects against interest rate rises. It gives you certainly over what you will receive, allowing you to budget with confidence.”

Clydesdale Bank is a market leader when it comes to agribusiness. It has Financial Solutions Centres across the East of England, where local treasury partners can work to manage your SFP and help maximise the income by offering market updates and advice on budget levels.

Clydesdale Bank

Clydesdale Bank is part of the National Australia Bank Group. Clydesdale Bank was established in 1838 in Glasgow and has a proud history of innovation and support for Scottish industry and communities as well as a significant presence in London and the South of England. With 152 retail branches and 45 Financial Solutions Centres, Clydesdale is one of Scotland's largest banks. In the south of England, Clydesdale’s innovative Financial Solutions Centres offer customers a highly integrated business and private banking service.

Financial Solutions Centres

Financial Solutions Centres (FSC) focus on the communities in which they operate. Each of the UK-wide network of 72 FSCs offers a tailored range of business and private banking services under one roof. A team of specialist partners provide customers with end-to-end solutions for all of their banking needs. Each customer benefits from the in-depth expertise of a dedicated relationship partner who takes the time to get to know them and their business and is able to make fast, local decisions. In addition to banking services, the FSCs also operate as a hub for local business, with a range of networking opportunities and meeting facilities available as a benefit of membership.

www.cbonline.co.uk

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05 March 2010


Cambridge’s new Howard Theatre opened at Downing College

INTERNATIONALLY acclaimed theatre Director Sir Trevor Nunn was guest of honour at the official opening of Cambridge’s newest theatre this week.


[Pictured left to right: Dr Alan Howard, Professor Barry Everitt, Master of Downing College, and Sir Trevor Nunn.]

The Howard Theatre in Downing College grounds is a brand new 160-seat performance space. Equipped with state of the art technical stage facilities, it has been designed, built and decorated in the neo-classical style inherent in Downing’s collection of buildings.

Inside the theatre, the decorative trompe l’oeil artwork covering the ceiling evokes the spirit of Georgian theatre while front-of-house curtain shows a Grecian street scene, portraying the College among images of classical Greek architecture such as the Acropolis.

Funded by an £8 million benefaction from College alumnus Dr Alan Howard, the building is in Ketton Stone and has a number of environmentally sustainable features including ground source heating and cooling and solar panels in its Welsh slate roof. The leather seating comes from Italian firm Poltrona Frau who have supplied seats for La Scala, the New York Metropolitan Opera and leather for Ferrari, BMW and Mercedes cars.

Sir Trevor Nunn was an undergraduate at Downing between 1959 and 1962, reading English. He began his stage career while at the College and has gone on to become one of the leading figures in British Theatre, as Artistic Director of both the Royal Shakespeare Company and then the Royal National Theatre.

Dr Alan Howard, the benefactor, came up to Downing in 1948 and read Natural Sciences.

The theatre has been designed by architects Francis and Quninlan Terry who have a long association with Downing. Francis Terry read Architecture at Downing in the late 80’s.

For more information on the theatre CLICK HERE

Dr Alan Howard

His career at Cambridge University spans 60 years and he has held positions in the Department of Investigative Medicine and Pathology as well as the Dunn Nutritional Laboratory, before founding his own laboratory at Papworth Hospital, Cambridge, which was closed in 1999.

He has published over 250 original articles in medical literature and authored and edited 8 major books on coronary heart disease and obesity. He was co-founder of the International Journal of Obesity and was involved in the foundation of the International Congress on Obesity and the European Atherosclerosis Society. His work on obesity led to the development of Very Low Calorie Diets, leading to a number of commercial products including his own formulation of the Cambridge Diet, which has been used by millions of people worldwide.

In 1982, he established the Howard Foundation, a charitable trust supporting bio-medical research at the University of Cambridge, and which has donated sums for four buildings at Downing College.

Downing College

Downing College was founded in 1800 under the Will of Sir George Downing, 3rd Baronet. Located on 17 acres in the heart of Cambridge, Downing is distinguished by the style of its neo-classical architecture, established by William Wilkins, and it open green spaces.

The College has gained a reputation as one of the leading places to study Law and Medicine. However, it also has a significant number of notable number alumni in the field of arts and media: Quentin Blake (1953), Sir Trevor Nunn (1959), Michael Apted (1960), John Cleese (1960), Andy Hamilton (1973) and Thandie Newton (1992) studied at Downing.

Professor Barry Everitt, is the Master of Downing College. The Patron is HRH The Duchess of Kent.

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19 February 2010


Savills to address Elite Cambridge Business Circle
on commercial property


THE next meeting of the Elite Cambridge Business Circle will take place at 8am on Thursday 11 March in the boardroom of the Clydesdale Bank, Terrington House, 1st Floor 13-15 Hills Road, Cambridge, CB2 1NL, courtesy of managing partner Martin Guildford.

A buffet breakfast will be served.


As well as providing an excellent opportunity to network with leading Cambridgeshire business people, politicians and academics, the meeting will also feature a presentation led by Jon Hutt (pictured above), head of commercial for the Eastern region of Savills.


The Savills presentation to the Elite Cambridge Business Circle will be given by Jon Hutt and Nick Heath (pictured above), and will cover the company’s broad spectrum of activities globally, nationally and locally, and then go on to discuss the prospects for the local commercial property market in the current economic climate.

Savills director, Jon Hutt said he was delighted to attend and speak at the forum of local Cambridge businesses.

The commercial property is a useful barometer by which to gauge the health of the economy in general, and a look will be taken at the current green shoots of recovery to see if they are likely to flourish in the near future.

After the Savills presentation, we will also be giving further details of how we will be taking the Elite Cambridge Business Circle up to the next level with the launch of our new B2B and B2C web superportal.

About Savills

Savills Eastern region services include residential, rural, commercial, development, planning, new homes, lettings as well as transport planning, building consultancy and healthcare.

Savills is a leading global real estate service provider listed on the London Stock Exchange.

The company, established in 1855, has a rich heritage with unrivalled growth. It is a company that leads rather than follows and now has over 200 offices and associates throughout the Americas, Europe, Asia Pacific, Africa and the Middle East.

www.savills.com

The Elite Cambridge Business Circle

The Elite Cambridge Business Circle was formed in 2009 with the aim of celebrating and reporting the wealth and rich diversity of entrepreneurial excellence and business activity that flourishes in and around the City of Cambridge.

RSVP

Members, guests and visitors will all be most welcome, but in order to facilitate catering arrangements, please telephone Murdoch MacDonald on either of the numbers below if you will be able to attend the meeting at 8am on Thursday 11 March.

Murdoch MacDonald
The Elite Cambridge Business Circle
Telephone: 01292 281498
Mobile: 07833 667322

LINK:

PR-Inside

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30 January 2010


New Divisional Headquarters for Cambridgeshire Police Authority

AS part of a development team lead by Pick Everard under the new Buying Solutions Project Management and Full Design Team Services Framework Agreement, Trebor Developments LLP and property consultancy Savills have been appointed to a new multi-million pound Southern Division Headquarters for Cambridgeshire Police Authority.


The project will deliver a major new facility, incorporating custodial as well as high quality office accommodation, and will be funded by the Police Authority on a freehold basis. The Police Authority will relocate from its existing divisional headquarters in the Parkside area of Cambridge (pictured above) to the new scheme, and Trebor Developments is currently assisting in reviewing site acquisition options within the Cambridge area to fulfil this requirement.

Working in conjunction with Savills’ Cambridge office, Trebor Developments is also providing specialist support in advising the Police Authority on the disposal and future development of the existing Parkside site, which is located in one of the most prominent locations in Cambridge city centre.

Trebor managing partner Bob Tattrie commented: “We are delighted to be a member of the team selected by the Police Authority for this project and we are working closely with both Savills and Pick Everard – which has the remit to project manage and design the scheme.

“Trebor’s experience in the development team of Northamptonshire Police Authority’s new criminal justice centre no doubt was instrumental in allowing us to demonstrate the expertise we have built up in such requirements, together with our proven track record in acquiring and implementing site specific end user requirements. This large and complex project will further boost our reputation for delivering value for money, sustainable and highly flexible accommodation for public sector clients.”

Further information:

Bob Tattrie, Managing Partner,
Trebor Developments LLP
Innovation Centre
Longbridge Technology Park
1 Devon Way
Birmingham, B31 2TS

Tel: 08455 276981
Fax: 0121 222 5481
E-mail: info@trebordevelopments.co.uk
Web: www.trebordevelopments.co.uk


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