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Share Price: 52.18
Bid: 52.26
Ask: 52.30
Change: 0.12 (0.23%)
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Open: 52.38
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Shell wants Scotland to remain in UK for investment stability

Thu, 06th Mar 2014 08:31

LONDON, March 6 (Reuters) - Royal Dutch Shell Plc has become the second oil heavyweight to urge Scotland to stayin the United Kingdom, a new setback for the campaign forScottish independence.

Shell Chief Executive Ben van Beurden said a vote forindependence on Sept. 18 would mean greater uncertainty for theenergy industry, given the important role of North Sea oil andgas.

His concerns follow comments by some of Britain's leadingfinancial services firms about the risks to their operationsfrom a vote for independence.

Van Beurden said on Wednesday at a company event in Londonthat he valued "the continuity and stability" that the UKoffered, arguing for its continued membership of the EuropeanUnion and Scotland remaining part of the country.

"We're used to operating in uncertain political and economicenvironments. But, given a choice, we want to know as accuratelyas possible what investment conditions will look like 10 or 20years from now," he said, in comments reported by the BBC.

"That's the chief reason we're in favour of the UKmaintaining its long-established place at the heart of theEuropean Union: it provides greater investment stability andcertainty ... It's for similar reasons that we'd like to seeScotland remain part of the United Kingdom."

Shell is the second oil major to voice doubts about theimpact of Scottish independence.

The boss of BP, a big investor in the North Seawaters and Britain's country's second-biggest oil company,warned last month that Scottish independence could cause"uncertainties" for his company.

Several financial services companies have also raisedconcerns publicly about the risks of Scotland ending its307-year tie with England.

State-backed Lloyds Banking Group said on Wednesdayit could face significant cost increases if Scotland votes tobecome independent.

Edinburgh-based insurance and pensions heavyweight StandardLife and part-nationalised Royal Bank of Scotland have also warnied of the risks of Scottish independence.

Standard Life is so far the only major company to warn itcould move partly out of Scotland if Scots split from the UK.

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4 Jan 2024 12:56

Royal London tabling bid to buy bulk annuities from Lloyds - report

(Sharecast News) - Life insurance, pensions and investments group Royal London is in discussions to purchase Scottish Widows' bulk annuities arm, according to Sky News.

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2 Jan 2024 22:01

Top-rated US companies raise over $29 billion in new-year bond supply rush

Jan 2 (Reuters) - Top-rated U.S. companies raised over $29 billion in debt on Tuesday, giving the corporate bond market a strong start to the new year, as the companies tapped demand from investors anticipating lower interest rates later this year.

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20 Dec 2023 09:25

LONDON BROKER RATINGS: UBS cuts DS Smith; Kepler likes Genus

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

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19 Dec 2023 16:06

UK banks face 'step change' rule to reimburse defrauded customers

LONDON, Dec 19 (Reuters) - Britain's banks and other payment firms must reimburse defrauded customers to a maximum of 415,000 pounds ($529,000) from October next year to help combat scams, the Payment Systems Regulator (PSR) said on Tuesday.

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19 Dec 2023 15:11

UK banks face 'step change' rule to reimburse defrauded customers

LONDON, Dec 19 (Reuters) - Britain's banks must reimburse defrauded customers to a maximum of 415,000 pounds ($529,000) from October next year to help combat scams, the Payment Systems Regulator (PSR) said on Tuesday.

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18 Dec 2023 10:51

Business travel emissions drop as many firms fly less -survey

LONDON, Dec 18 (Reuters) - Almost half of 217 global firms cut their business travel carbon emissions by at least 50% between 2019 and 2022, analysis published on Monday found, as corporate air travel returned at a much slower pace since the pandemic than leisure flights.

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17 Dec 2023 23:01

Business travel emissions drop as many firms fly less -survey

LONDON, Dec 18 (Reuters) - Almost half of 217 global firms cut their business travel carbon emissions by at least 50% between 2019 and 2022, analysis published on Monday found, as corporate air travel returned at a much slower pace since the pandemic than leisure flights.

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14 Dec 2023 12:00

Fnality completes 'world's first' blockchain payments at Bank of England

LONDON, Dec 14 (Reuters) - Fnality, a blockchain-based wholesale payments firm, said on Thursday that shareholders Lloyds Banking Group, Santander and UBS had completed the "world's first" live transactions that digitally represent funds held at a central bank.

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12 Dec 2023 09:10

UK lenders face smaller impact from Basel rules than rivals, BoE says

LONDON, Dec 12 (Reuters) - The Bank of England said on Tuesday that implementing the final leg of the global Basel bank rules will increase capital requirements at UK banks by 3%, far less than for their European Union and U.S. peers.

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12 Dec 2023 07:16

BoE says UK lenders to be hit less than EU, U.S. rivals by Basel capital rules

LONDON, Dec 12 (Reuters) - The Bank of England said on Tuesday that implementing the final leg of the global Basel bank rules will increase capital requirements at UK banks by 3%, less than for their European Union and U.S. peers.

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8 Dec 2023 09:39

LONDON BROKER RATINGS: Goldman likes Sainsbury's; RBC cuts Imperial

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

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7 Dec 2023 10:16

LONDON BROKER RATINGS: JPMorgan lowers IAG; Exane BNP cuts Vodafone

(Alliance News) - The following London-listed shares received analyst recommendations Thursday and Wednesday:

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4 Dec 2023 13:42

Barclay family repays debt to Lloyds amid potential sale of Telegraph

(Alliance News) - The Barclay family has repaid the nearly GBP1.2 billion that it owed to Lloyds Banking Group PLC, opening up its chance to transfer control of the Telegraph newspaper to an Abu Dhabi-backed fund.

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30 Nov 2023 09:57

Lloyds to shut 45 branches

(Sharecast News) - Lloyds Banking Group is to shut another 45 branches, it was confirmed on Thursday, as lenders continue to downsize their estates.

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30 Nov 2023 09:18

Lloyds, Halifax and Bank of Scotland to shut another 45 branches

(Alliance News) - Lloyds Banking Group PLC is shutting another 45 branches across its network and the Halifax and Bank of Scotland brands amid the ongoing shift away from high street banking.

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