Shelf Drilling pulls $500m IPO plan after investors get cold feet July 1, 2014 Oil-rig contractor Shelf Drilling is to pull its plan to float on the London Stock Exchange, citing insufficient interest to justify proceeding with the sale. Sources close to the deal told City AM that the decision was made late Tuesday to cancel the initial public offering, which was set to raise at least $500m (£297m), despite some [...]
David Cameron bites back after week of political hell June 30, 2014 It might be one of Westminster’s best-known cliches, but David Cameron has learnt that a week is indeed a long time in politics as polls released this morning suggested that his Conservative party had taken the lead over Labour or had narrowed the gap on the opposition. He was seen last week to be on [...]
Law Commission tells pension trustees to plan for long-term June 30, 2014 PENSION trustees must invest and plan for the long-term, not for short-term financial gains, according to a new report from the Law Commission. The government asked the commission to look into the law surrounding investments after concerns that investors were focusing on short-term share prices to satisfy legal requirements when making investments for large schemes. [...]
Cameron’s risky EU stance yet to convince voters June 30, 2014 VOTERS do not believe that renegotiation of the UK’s relationship with Europe is possible, leading many to doubt David Cameron’s pledge of an in/out referendum in 2017, according to new research. The damning verdict on Cameron’s ability to fight for UK interests in the EU was dealt a further blow when key business group the [...]
Conservatives rule out all women shortlists for the general election June 30, 2014 THE CONSERVATIVE party will not introduce all women shortlists for the 2015 general election, a well-placed Conservative party source confirmed yesterday. The news comes after the party’s women’s minister Nicky Morgan hinted last week that the Conservatives might consider shortlisting only female candidates in some seats, to boost the number of women in Westminster in [...]
Firms fear backlash over flexible working rights June 30, 2014 New flexible working arrangements which come into force today could cause resentment among staff, according to new research. The changes mean that all employees who have been at their company for 26 weeks or more now have the right to request working hours to suit them. The coalition’s policy could allow 20m staff to work [...]
Big six energy firms face probe over claims of profiteering June 26, 2014 Energy watchdog Ofgem has referred the big six energy suppliers to the Competition and Markets Authority (CMA), over claims of profiteering. Ofgem fired the starting gun on the investigation yesterday after politicians and consumers raised repeated concerns that the big six companies are not competitive enough and have been failing to offer their customers fair [...]
David Cameron unapologetic about tough stance on Jean-Claude Juncker June 26, 2014 Prime Minister David Cameron has said he is “unapologetic” about the tough stance he has taken in opposing Jean-Claude Juncker as a candidate for the top job in Europe. Speaking to journalists ahead of a key summit in Belgium last night Cameron said: “I am completely unapologetic about standing up for an important principle in [...]
Philip Morris snaps up UK-based ecigarette manufacturer Nicocigs June 26, 2014 Tobacco giant Philip Morris announced yesterday that it had bought UK-based ecigarette manufacturer Nicocigs, owner of the Nicolites brand, for an undisclosed sum. The deal was done on the same day as Philip Morris revised its profit forecasts down by around four per cent, to between $4.87 (£2.86) and $4.97 per share. The revision was [...]
Ministers take a step closer to plain packaging for cigarettes June 26, 2014 The government moves a step closer to introducing plain packaging for cigarettes today, with a statement introducing a final consultation on the measure. Health minister Jane Ellison yesterday announced a six-week consultation, ending on 7 August, to include draft legislation as an advance warning to tobacco manufacturers. In November last year, the government commissioned Sir [...]
