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      Drill in Britain’s biggest oil field or risk energy crisis, Make UK tells Ed Miliband

      "2024 was a transformational year with the completion of the Wintershall Dea transaction, our fourth significant transaction since 2017. As a result, we achieved a step change in the scale, resilience and longevity of our business underpinning the potential for material free cash flow generation well into the next decade. At the same time, we delivered another year of solid operational and financial performance. "Looking to 2025, we have had a strong start to the year. We continue to prioritise safe and efficient operations, mature our significant 2C resource base and maintain disciplined capital allocation. We remain excited about our future and look forward to realising the potential of our company for all our stakeholders.".

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By: Poppy Wood

Reporter and Editor at City A.M. covering politics and coronavirus

All 1167 Articles
  • Johnson prepares to scrap Huawei from UK 5G network

    July 5, 2020

    Prime Minister Boris Johnson is set to draw up plans this month to start phasing out Huawei from the UK’s 5G infrastructure in a major U-turn following pressure from security agencies. A security review from the National Cyber Security Centre (NCSC), a branch of GCHQ, is understood to have revised assurances that risks posed by [...]

  • Former MI6 chief amps up fears coronavirus came from Wuhan lab

    July 5, 2020

    The former head of the British Secret Intelligence Service (MI6) has fanned fears that the coronavirus pandemic is the result of a Chinese lab leak, after scientists raised fresh questions over the outbreak of Covid-19. Sir Richard Dearlove, who served as chief of MI6 from 1999 to 2004, departed from the prevailing theory that the [...]

  • Glaxosmithkline set to bag £500m UK deal for coronavirus vaccine

    July 5, 2020

    Pharmaceuticals giants Glaxosmithkline (GSK) and Sanofi are close to securing a £500m deal to supply the UK government 60m doses of their coronavirus vaccine, according to reports. The Department for Business, Energy and Industrial Strategy (Beis) is said to be taking an option to buy the vaccine from the two drugs companies if it proves [...]

  • Kanye West announces he will run for president

    July 5, 2020

    Kanye West has announced he will run for US president in the upcoming November election, as support for incumbent Donald Trump continues to decline over his handling of the coronavirus crisis. West took to Twitter on Independence Day yesterday to announce he will take on Trump, of whom he is a huge supporter, and Democrat [...]

  • Super Saturday: The pubs, bars and restaurants reopening in the City

    July 3, 2020

    It’s been eerily quiet in the City over the past few months, but things are starting to come back to life.  Following Prime Minister Boris Johnson’s announcement last week that England is set to emerge from its “national hibernation,” some of the City’s pubs, restaurants and bars will open their doors for the first time [...]

  • Prince Andrew ‘bewildered’ by FBI claims he has refused to cooperate in Epstein case

    July 2, 2020

    Prince Andrew has said he is “bewildered” by claims that he has ignored requests from the FBI to cooperate with their investigation into convicted paedophile Jeffrey Epstein. A source close to the Duke of York told City A.M. he had “twice communicated” with the US Department of Justice (DOJ) in the last month, but has [...]

  • Ghislaine Maxwell charged in sex-trafficking probe following arrest by FBI

    July 2, 2020

    Ghislaine Maxwell, the former girlfriend and confidante of disgraced financier Jeffrey Epstein, has been arrested by the FBI and charged with playing a role in the “sexual exploitation and abuse of multiple minor girls,” according to a court filing. The British socialite and heiress was arrested by the FBI in New Hampshire at 8.30am this [...]

  • BBC announces 450 job cuts and axes Inside Out

    July 2, 2020

    The BBC has announced it will slash 450 jobs from its BBC News England team and will axe its long-running Inside Out show as part of plans to shore up an extra £25m by 2022. The BBC today said it would cut roughly 15 per cent of its BBC England team, as the broadcaster seeks [...]

  • Government agrees emergency support package for Celsa Steel

    July 2, 2020

    The government has agreed an emergency loan to the UK arm of Spanish-based Celsa Steel in a bid to bolster its balance sheet amid the coronavirus crisis and rescue more than 1,000 jobs.  The size of the loan has not yet been disclosed, however, reports last month suggested the Cardiff-based steelmaker was seeking £30m from [...]

  • Cafe Rouge and Bella Italia owner cuts 1,900 jobs as it collapses into administration

    July 2, 2020

    The owner of high street restaurant chains Cafe Rouge and Bella Italia has collapsed into administration and slashed 1,900 jobs, as the hospitality sector continues to feel the strain of the pandemic. Ninety one of Casual Dining Group’s restaurant outlets will close with immediate effect, slashing 1,900 of the firm’s 6,000 staff in the process.  [...]

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