Balfour Beatty, the international engineering construction and services group, has adopted the Burns Business Exchange (beX) electronic trading service for its regular UK suppliers. Balfour Beatty, who currently spends over £2 billion annually with over 10,000 suppliers, estimates that half of the 965,000 purchase invoices processed each year will be managed by beX within the next 3 years. Previously,Balfour Beatty’s purchasing procedures were primarily paper based. The first phase, which started in August 2001, involves an internal trading community of six divisions of Balfour Beatty: construction, power networks, specialist holdings, rail maintenance, rail projects and plant division.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.