The UK Economy

Leading oil companies invest in two-year appraisal of the Clair oil field. Along with Shell, ConocoPhillips and Chevron BP has announced a two-year appraisal programme to look at the possibility of developing a third phase of the giant Clair field, west of the Shetland Islands at a cost of $500m The initial commitment involves a […]

LSE listed insurer Prudential has responded to a fine and censure by the UK’s Financial Services Authority saying the “investigation was into past events and does not concern the current conduct of the management of the Prudential Group”. Arguing that the “FSA accepts that Prudential did consider their obligations in forming their assessment in respect […]

The UK’s Financial Services Authority has fined insurer Prudential  £30 million for breaching FSA Principles and UKLA Listing Principles. Relating to Prudential’s failure to inform the FSA at the appropriate time that it was seeking to acquire AIA, the Asian subsidiary of AIG, in early 2010 the FSA also has also censured Tidjane Thiam, Prudential’s […]

The Bank of England’s Financial Policy Committee reported today that UK banks need an additional £25 billion in aggregate on reserve to guard against what Andrew Bailey called “inadequate provisions for losses on loans.”  The committee wants the extra capital raised by December. There is at least one small catch.  The banks are going to have […]

BP has announced its intention to carry out a share repurchase programme with a total value of up to $8 billion. Today’s decision to buy back shares follows the completion yesterday of the sale of BP’s 50% interest in TNK-BP to Rosneft. The programme is expected to return to BP shareholders an amount equivalent to […]

UK business leaders respond to the 2013/14 budget With a package of new measures announced during George Osborne’s fourth budget business leaders have been putting them into practical context and demonstrating how they will influence the UK economy. Whilst a lack of financial support for SMEs drew criticism, Mr Osborne’s budget has been broadly welcomed […]

In the weeks running up to the budget sources close to the Treasury were keen to downplay today’s budget. Following the ‘omishambles’ budget of 2012 the Chancellor was said to be hoping for a period of comparatively calm waters and for 2013’s effort to pass without notice. This perceived wisdom was soon swept away as […]

As Cyprus totters on the brink of meltdown there are glimmers of governmental sanity in the UK. This is turning into an interesting week. The market still has its motor on. Subscribe to Clem’s Premium Newsletter: Value Investing – How To Get Rich Slow.

In the last of ADVFN’s series of articles on what UK businesses want to see in this years budget Anil Stocker, Head of Policy at the NGFC & co-founder of MarketInvoice, an online SME finance provider, makes the case for the government to deliver on further support in helping SMEs gain access to finance. At […]

Ahead of the Budget this coming afternoon we asked business leaders Jason Woodford, CEO at digital marketing agency SiteVisibility and Al Bingle, Managing Director at Bishop’s Move, the UK’s largest family owned removals company, for their views on what the  Chancellor should focus on in this year’s Budget.   –  The UK needs a stamp duty […]