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Construction company Alfred McAlpine has announced plans to abolish its policy of holding back 5 per of fees from subcontractors to cover extra costs. The industry-backed Construction Liaison group is campaigning against the policy. The announcement is part of a drive to raise standards.

Wave power hits grid_2

Speed boost for euro_2

A euro transfer payment system, Stepyl, adopted by major European banks, is expected to speed up euro transfer payments, according to the Euro Banking Association. Paperwork should be reduced and payments should be completed within two days.

Management Solutions_2

Reprieve for Viyella_2

The contract clothing division of textiles company Coats Viyella, a supplier to retailer Marks & Spencer, is to remain open after a management buy-out this month.

The Hundredth Window_4

Charles Jennings and Lori Fena Free Press, £18.99 Rating: 4/5

Code of conduct call_2

A code of conduct between software suppliers and the IT industry is needed to stamp out software malpractice, according to John Lister, European IT director at retailer Tesco. He claimed many companies were being “stiffed” - charged additional costs by software firms for making small changes to their software, such as changing the number of users.

Ofgem sets out plans_2

Energy regulator Ofgem has set out its new year’s resolutions in a corporate and budget plan. These include ensuring efficient trading in wholesale gas and electricity, managing the move to competitive supply markets, improved regulation of monopoly businesses and social and environmental action. For a copy of the plan, visit www.ofgem.gov.uk or call 0116 277 2617.

The Evolving Bargain_2

Willis Emmons Harvard Business School Press, £25.99 Rating: 4/5

Cowboys under attack_2

The government is offering builders a £350 incentive to sign up to its scheme to get rid of cowboy contractors. The scheme provides a guarantee against shoddy workmanship. But contractors claim the scheme is still too expensive and the construction boom means that there is enough work for both good firms and cowboys.