In Business

FORMER Home Secretary David Blunkett was handing out awards in Canary Wharf this week, and was full of praise for those who overcome adversity to succeed in business.

Mr Blunkett and Attorney General Baroness Scotland were the keynote speakers at the National Mentoring Consortium awards at Lehman Brothers headquarters in Bank Street on Tuesday.

The scheme, set up 14 years ago, has successfully developed links between universities, including the University of East London, and employers such as Lehman Brothers and Barclays, giving disabled students or those from ethnic minorities the opportunity to gain valuable advice and experience from business people in a work environment.

SIGN UP for a major corporate challenge next month and you’ll find yourself rubbing shoulders with one of rugby’s greats.

Rory Underwood, England’s flying winger during the ’80s and ’90s, is taking part in the Microsoft UK Challenge.

He will join teams from several Canary Wharf companies, including HSBC and Barclays.

The former sporting giant, who now runs high performance development consultancy UPH, said: “I’m really looking forward to it. I’m doing a couple of events, although I don’t quite know what they involve – but then that’s the whole point.

CANARY Wharf businesses could be set to help fund the Cutty Sark's historic face-lift.

The world's last remaining tea clipper is just £3million away from meeting its £30million refurbishment target. And trustees are reportedly in discussions with two major Wharf businesses to support the re-birth of the Greenwich attraction, which was ravaged by fire in May last year.

Trust chief executive Richard Doughty confirmed negotiations into a possible deal were on-going during an event on Thursday (April 24), in which part of the stern was winched loose for conservation work.

He revealed talks were underway on a mutual benefit partnership, in which money would be donated in exchange for association with the ship and privileged use of the facilities.

He said: "It's very early yet in our discussions. But we're situated in the shadow of Canary Wharf and, once the restoration is complete, businesses are going to be able to see the Cutty Sark in a way they haven't before."

Months before the British International Motor Show opens at ExCeL in the Royal Docks (public days from July 23 to August 3), a sneak preview of the exhibition’s main attractions is already available online.

Visitors to www.britishmotorshow.co.uk can navigate around a fully interactive map which highlights the must-see features at the event.

THE CREDIT crisis could force the UK’s financial sector to shed at least 10,000 jobs in the next three months.

The Confederation of British Industry (CBI) predicts the country will dodge a full recession, but the squeeze in credit markets will force Wharf companies to trim their workforces. The forecast comes after UK firms reported another sharp drop in business from January to early March this year.

CBI chief economic adviser Ian McCafferty said: “It is clear that the credit crunch has worsened over the first three months of this year.

“We can expect further tough times in the financial sector, and as this feeds through into the wider economy it will inevitably be felt through slower economic growth this year and next.”

LIKE many graduates Fahad Abdi was at a crossroads when he finished studying and wanted to embark on his career.

But the 23-year-old from Bow, who studied history, was lucky enough to benefit from a scheme set up by the East London Business Alliance (ELBA).

Its Community Affairs Trainee Scheme (CATS) aims to provide employment opportunities with City and Canary Wharf companies for graduates living in Tower Hamlets.

Last year it placed 11 graduates in companies including the FSA, Credit Suisse and Canary Wharf Group, and Fahad has been with Clifford Chance in Bank Street.

He said: “I went to some ELBA meetings and through them I was able to apply for the CATS scheme and was lucky enough to be selected. I had two months training with ELBA before starting here last September.

CANARY WHARF’S security is in safe hands with the award of a maintenance contract for the estate.

Siemens Building Technologies has taken over the upkeep of all electronic security equipment in the area.

The company won the one-year contract, worth an undisclosed amount, in January following a competitive tendering process.

HUNDREDS of lorry journeys a week should be avoided thanks to a new device giving barges access to the Olympic site for 2012 Games construction.

A fishbelly gate was delivered to Prescott’s Lock, part of the Bow Back Rivers on the edge of the 2012 Games area, on March 17. The gate, which gets its name from its distinctive shape, will
control the flow of water through the lock at the site above Three Mills.

It will create a green gateway for barges entering the Olympic Park as construction work on the 2012 venues is stepped up later this year, helping to stop east London roads being clogged up
by trucks.

Bear Stearns’ plans to move to a state-of-the-art new building at Canary Wharf could be in doubt.

The company had hoped to double its workforce but now, staff face a very different future after the bank became a victim of the US credit crunch.

The 1,370 employees in Canary Wharf, based at One Canada Square are waiting for a JP Morgan take-over to be completed before seeing what this means to them.

LONDON City Airport is looking to expand its business portfolio after making an offer for Southend airfield.

The Royal Docks group revealed this week it has made a bid for the site, reported to be about £100million.

Although she would not confirm the amount, a spokeswoman for City Airport said: “We have put a bid in. Southend is of particular interest to us because of the shortage of airports in the south east.