Centrica Plc’s British Gas unit won a court ruling that the way in which the U.K. regulator calculated the energy tariff price cap for the first quarter of 2019 was unfair.
British Gas’s claim, supported by Npower Ltd, SSE Plc, Electricite de France SA and EON SE, said that the way Ofgem calculated the cap, largely based on wholesale prices from a specific period, was calculated in an “insufficiently investigated, and demonstrably flawed” way.
“I am persuaded that the criticisms made by British Gas are well-founded,” Judge Geraldine Andrews said in the judicial review handed down in London on Wednesday.
The price cap was brought in during former Prime Minister Theresa May’s tenure in a bid to try to protect consumers from paying too much for gas and electricity. Centrica said in May that the cap had hit profits to the tune of 70 million pounds ($89.8 million).
“This outcome underlines the importance of transparent and rigorous regulatory processes to ensure well-designed regulation that is in the interest of a well- functioning energy market,” a Centrica spokesperson said in an emailed statement.
The first cap was 1,137 pounds a year for default tariff holders, but it was then raised to 1,254 pounds in April. It now sits at 1,179 pounds and is assessed every six months by Ofgem.
“The judgment does not change the fundamentals of the price cap, which remains in place and will continue to protect 11 million households on default deals, ensuring that they pay a fair price for their energy,” an Ofgem spokesperson said. The regulator said it is considering its options following the decision.
Ofgem altered its approach to the cap in the first period, which meant that suppliers, that had already hedged their prices to protect themselves against movements in the wrong period, faced losses when the cap was brought in, in January.
“There is no doubt that in fixing a single price cap for all suppliers, with a view to protecting current and future customers on default tariffs, GEMA had a complex and difficult task to perform. It was also put under significant time constraints,” the judge said
Indivior Launches National Campaign Informing People of an Additional Treatment for Opioid Use Disorder (OUD) and to Let Peop...
PR Newswire (US)
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Today : Monday 11 November 2019
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RICHMOND, Va., Nov. 11, 2019 /PRNewswire/ -- Indivior PLC (LON: INDV) announces the launch of a new direct-to-consumer (DTC) advertising campaign, Keep Moving Towards Recovery, which aims to heighten awareness of treatment with SUBLOCADE® (buprenorphine extended-release) injection, for subcutaneous use (CIII), as well as motivate those with moderate to severe opioid use disorder (OUD) and those who care about them to seek help from health care professionals to keep moving towards recovery. SUBLOCADE is a prescription medicine used to treat adults with moderate to severe addiction (dependence) to opioid drugs (prescription or illegal) who have received an oral transmucosal (used under the tongue or inside the cheek) buprenorphine-containing medicine at a dose that controls withdrawal symptoms for at least 7 days. SUBLOCADE is part of a complete treatment plan that should include counseling.1
The Keep Moving Towards Recovery campaign is intended to help reframe the perceptions of those struggling with moderate to severe opioid addiction. Opioid addiction isn't a moral weakness, it is a chronic disease called Opioid Use Disorder (OUD)2 in which people develop a pattern of using opioids that can lead to negative consequences.3 OUD may affect the parts of the brain that control impulses, judgment, and decision-making.3,4 Patients become trapped in a cycle of opioid use, withdrawal, and cravings, which produces changes in brain function that can reduce their ability to control their use.3,5
"Although the medical community has recognized that opioid addiction is a chronic disease, many people with OUD are still not receiving appropriate, evidence-based therapies," said Gary Mendell, Founder and CEO of Shatterproof. "Closing this gap and ensuring that people impacted have access to the combination of counseling and medication for the addiction treatment that is best for them is critical to reversing the tragic trends across the country."
Medication-assisted treatment (MAT) combines medication and counseling to treat both the physical and behavioral parts of opioid addiction, with the goal of helping people achieve and maintain recovery.3,4 The combination of medicine and psychosocial therapy have been proven successful in treating OUD and can even help extend recovery.3,4 In fact, MAT has been shown to be more effective than either medication or counseling alone.4
"While the Keep Moving Towards Recovery DTC campaign is anticipated to help raise awareness of treatment with SUBLOCADE, we also hope this campaign will contribute to the broader effort underway to help people suffering from OUD to know that medication, including counseling, is available to help them tr
Avast Named CES 2020 Innovation Awards Honoree
PR Newswire (US)
Intraday Stock Chart
Today : Friday 8 November 2019
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REDWOOD CITY, Calif., Nov. 8, 2019 /PRNewswire/ -- Avast (LSE:AVST), a global leader in digital security products, today announced that its new IoT security product, Avast Omni, has been named a Best of Innovation Honoree in the CES 2020 Innovation Awards. The product won the "Best of Cybersecurity and Personal Privacy" category for outstanding engineering and design, underscoring the company's mission to protect users everywhere they connect to the internet
LONDON, Oct. 23, 2019 /PRNewswire/ -- Telit, a global enabler of the Internet of Things (IoT), today announced a successful series of tests of its new industrial-grade 5G data card, the FN980m. Conducted on a live 5G network in Korea, the tests highlight Telit's leadership in providing businesses and other organizations with 5G solutions for industrial routers and gateways, fixed wireless access, video broadcasting, private LTE/5G networks and more.
Oct 4, 2019
Sealed Document - Defendant's Response to Government's Sur-Reply Regarding Motion to Dismiss the Indictment for Compound Grand Jury Misconduct. (flc)
Oct 4, 2019
TRANSCRIPT REQUEST (Daily Service) by Indivior Inc., Indivior PLC for Motions Hearing held on 10-4-19 reported by Court Reporter Donna Prather before Judge Judge James P. Jones. Transcript Due Deadline will be set when Financial Arrangements are made. (Bondurant, Thomas)
Oct 4, 2019
EXHIBIT LIST - Motion Hearing as to Indivior Inc., Indivior PLC; Government's Exhibit #1 Sealed at the direction of the Court after the conclusion of the hearing (lml) (Additional attachment(s) added on 10/4/2019: # 1 Defendant's Exhibit #1) (lml).
Defendant's Exhibit #1
Oct 4, 2019
Minute Entry for proceedings held before Judge James P. Jones:Arraignment as to Indivior Inc. (1) Count 1s,2s,3s-6s,7s-28s and Indivior PLC (2) Count 1s,2s,3s-6s,7s-28s held on 10/4/2019, Motion Hearing as to Indivior Inc., Indivior PLC held on 10/4/2019 re 74 SEALED MOTION, 81 MOTION to Dismiss filed by Indivior Inc. Indivior PLC. (Court Reporter: Donna Prather, OCR) (lml)
Oct 4, 2019
ORDER granting 186 Motion to Seal Defendants' Response to Government's Sur-Reply Regarding Motion to Dismiss the Indictment for Compound Grand Jury Misconduct as to Indivior Inc. (1), Indivior PLC (2). Signed by Judge James P. Jones on 10/4/19. (flc)
Order on Motion to Seal Document
An Open Letter
from Howard Pien, Chairman of the Board of Directors for Indivior PLC
As you may know, the Department of Justice has taken the unusual step of indicting Indivior for events that date almost exclusively to before the company was formed in 2014. The Indivior Board of Directors, including through a special committee of the board that I have chaired, has investigated the department’s allegations, and the board believes they are flat wrong. The board has full confidence in the management of the company, and we will fight these charges on the facts and on the law in court.
The government makes two main claims against the company: that it aided the careless and clinically unwarranted prescribing by doctors of SUBOXONE® products to too many people or in too high doses; and that it misled doctors and patients by claiming that SUBOXONE® film was safer than tablets at reducing accidental exposure to children.
Here’s what you should know:
Indivior has never deliberately diverted its product. In fact, the company went beyond what the law required through its extensive education campaign to doctors about the rules governing SUBOXONE® prescriptions and by reporting the conduct of multiple physicians to the appropriate authorities.
The federal government’s own scientific agencies have stated that Suboxone film in its unit-dose packaging reduces the risk of accidental pediatric exposure. For example, the Centers for Disease Control has found that pediatric exposure dropped dramatically after Suboxone film was introduced to the market. We are frankly surprised the Justice Department would indict a company for making claims the government’s own researchers believe are true.
I couldn’t be prouder of the work Indivior does to fight the opioid crisis. The company conducts more research into opioid addiction than any other company, and the products it has brought to market have helped millions of people struggling with opioid addiction. We partner every day with doctors, government leaders, treatment advocates and the entire healthcare community to help fight addiction, and we won’t let this misguided action slow us down.
We wish the Justice Department had taken an alternative path, because their indictment simply can’t be justified based on any fair reading of the facts or the law. But we will contest these charges vigorously and we are confident in our position. You can find more information on the Indivior website. In the meantime, we look forward to continuing our work together.
My hypothesis on why XLMedia could be a contrarian play
Since its IPO on the AIM stock exchange in 2014 XLMedia has been on a spree of acquisitions and building a big portfolio of affiliate websites. One of its biggest buys was the personal finance website moneyunder30.com for $7million.
I am presuming this website is the companies biggest earner. If you look at the chart below you can see the organic traffic of this website has grown tremendously since they purchased it.
stats from ahrefs.com
This suggest two things to me –
1) They have a team in place who knows how to grow website traffic
2) I presume the increase in traffic has resulted in more conversions and more revenue for the company
Coming from a digital marketing background I can testify how difficult search engine optimisation (getting lots of organic traffic from Google search engine) has become. This is due to increased competition and multiple changes with googles ranking algorithm.