London South East | The UK's favourite investor portal.

What £83bn spending spree means for you
IT SAYS: ‘We’ll ask those who earn more than £80,000 a year to pay a little more income tax, while freezing National Insurance and income tax rates for everyone else.’

IT MEANS:

1.6 million people earning more than £80,000 will pay more income tax.
45 per cent income tax on annual incomes above £80,000.
50 per cent income tax on incomes over £125,000.
IT SAYS: ‘We will end the unfairness that sees income from wealth taxed at lower rates than income from work. VAT is a regressive tax that hits the poorest hardest and we guarantee no increases in VAT.’

IT MEANS:

Higher capital gains tax rates on share sales and second homes/buy-to-let properties – equivalent to a seller’s highest marginal rate of income tax.
A savage capital gains tax allowance cut – from £12,000 a year to a derisory £1,000.
Higher taxes on dividend income – again equivalent to an investor’s highest marginal rate of income tax.
A reduced annual dividend allowance – from £2,000 to £1,000.
... AND WHAT THE MANIFESTO FAILED TO SAY

What will happen to tax relief on pension contributions?
Will it be cut and will the lifetime allowance and annual allowances be reduced? Will tax-free cash remain?
Will Isas remain intact?
If so, will the annual limit remain at a generous £20,000 per adult or will it be trimmed back?

KeywordCompanyEPIC/TIDMSEDOL/ISINNews
Search
Price
Announcements
Fundamentals
News
Article
RSS
Petrofac Limited (PFC)
Add to Alerts list
Print Mail a friend Annual reports
Wednesday 20 November, 2019
Petrofac Limited
Petrofac secures US$120 million in EPS awards
RNS Number : 9572T
Petrofac Limited
20 November 2019

PPress Release

20 November 2019

PETROFAC SECURES US$120 MILLION IN EPS AWARDS

Petrofac Limited ("Petrofac") announces today awards and contract extensions with a combined value of more than US$120 million, delivering against the Group's strategy to position Engineering & Production Services ("EPS") for growth by diversifying into new markets and geographies.

The awards and contract extensions consist of the following:

· EPS has secured its first small-scale Engineering, Procurement, Construction (EPC) contract in Malaysia. In consortium with partner Serba Dinamik, EPS has been awarded a contract by Asean Bintulu Fertiliser (ABF) Sdn Bhd, one of Malaysia's largest fertiliser plants, for its Third Boiler Project. The ABF plant located in the central region of Sarawak, which started commercial production in 1985, is a subsidiary of PETRONAS Chemicals Group Berhad. The work scope for the 30-month project includes basic and detailed engineering, procurement, construction and commissioning of an additional package boiler (165 tonnes per hour) to improve overall plant reliability and availability and meet total steam demands of 510 tph.

· EPS has also secured a new three-year Engineering, Procurement, Construction and Commissioning (EPCC) Framework Agreement (FA) with a North Sea operator. Future projects undertaken through the FA will be supported by Petrofac's Aberdeen office, where the company is actively growing its engineering team and investing in its brownfield management system in support of its digitalisation strategy.

· The new brownfield projects awards coincide with key North Sea contract extensions for EPS, including a two-year renewal of an existing seven-asset Operations and Maintenance contract, and the extension of EPS' existing Engineering Services contract with Chevron North Sea to June 2020.

John Pearson, Chief Operating Officer, Engineering and Production Services, said: "Continued diversification into new markets, such as brownfield projects, and new geographies, such as Malaysia, are key tenets of our growth strategy. We're also once again delighted that clients in the North Sea have exercised the option to extend our support for important Operations and Maintenance and Engineering Services contracts."

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...
11/11/2019 5:43pm
PR Newswire (US)

Indivior (LSE:INDV)
Intraday Stock Chart
Today : Monday 11 November 2019

Click Here for more Indivior Charts.
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

An Open Letter
from Howard Pien, Chairman of the Board of Directors for Indivior PLC
PDF Version

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.

Latest Share Chat

Member Info for johndean

Followers

Following

Posts (Last 30 Days)

Posts (All Time)

Last Post

Member Since

Share Chat Post Distribution (Last 30 Days)

Activity Log (Last 30 Days)

Latest Share Chat

Member Info for johndean

Followers

Following

Posts (Last 30 Days)

Posts (All Time)

Last Post

Member Since

Share Chat Post Distribution (Last 30 Days)

Activity Log (Last 30 Days)

Please enter at least 2 characters

No results found

Search results

Recently viewed

Trending