Railway pension scheme, Railpen, invests in British renewable energy

Railway pension scheme, Railpen, invests in British renewable energy

RPMI Railpen is one of the UK’s largest and longest established pension funds for employees who are connected to the railway industry. They operate on behalf of 350,000 members, safeguarding and investing their pensions of £28 billion, collectively. The company’s latest move has been the acquisition of a Scottish wind farm from building material company, BayWa, therefore supporting the UK’s renewable energy sector with direct investment. The Tralorg Wind Farm in South Ayrshire has been purchased by Railpen’s in-house manager for an undisclosed amount. The wind farm is due to open next year and is currently being built with eight 2.35MW turbines in the process of being erected. The farm is one of the only onshore wind farms in the...

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£25m balance sheet error causes plummets in Ted Baker shares

£25m balance sheet error causes plummets in Ted Baker shares

The suffering British retailer has appointed a law firm to carry out a substantial investigation after it overestimated the value of its stock. The company has recently appointed a new finance director who, after initial inspection, believes that the value of the balance sheet´s inventory has been overstated by £20m to £25m. The mistake won´t affect this year´s economic situation as it relates to previous years, however, the luxury clothing business has hired London law firm Freshfields Bruckhaus Deringer to look into the matter further. Independent accountants will also be brought in as part of a new subcommittee within the company that will be chaired by director, Sharon Baylay. Ted Baker´s shares dropped by 15 per cent at first, but...

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