Guernsey taxpayers 'not expected' to fund Aurigny's 2024 losses
He said: "We expect Aurigny to be able to trade their way out of that and so the last injection of money from the tax payer remains at 2021."Facing questions in the States meeting, Roffey said the issues faced by Aurigny were not due to the company selling its Embraer jet in 2024 and things may have been worse if that had not been done.On the total of the losses, he said: "I have not seen any actuarial figure yet... but I know it will run into several million pounds."
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The Guardian
21 hours ago
- The Guardian
UK recovers position in EU's Horizon Europe science research programme
The UK is quickly recovering a prime position in the EU's £80bn science research programme 18 months after becoming a participating member following the resolution of Brexit problems, data shows. The country was frozen out of Horizon Europe for three years in a tit-for-tat row with the then prime minister, Boris Johnson, over the Northern Ireland trading arrangements. While the UK has to play catch-up, entering three years into the seven-year 2020-27 funding programme, data shows British scientists are punching above their weight with €735m (£635m) in grants in 2024. That ranks the UK as the fifth most successful country in the programme, which is open to 43 nations: the 27 EU member states and 16 non-EU associate members also including New Zealand, Canada and Norway. Germany, the top participant in Horizon in 2024, won €1.4bn (£1.21bn) in grants and Spain, which came third, got €900m (£777m). Scientists have said previously they were 'over the moon' to be back working with EU colleagues. They said they knew it would take time to return to the top three because of the time it took to build multinational consortiums to apply for funds. But in terms of grants for proposals by individual scientists, which are easier to assemble, the UK now ranks as the second-most successful participating country after Germany, with €242m (£209m) in funds. The UK is the single most successful applicant country when it comes to Marie Skłodowska-Curie Actions, one of the most prestigious grant programmes for doctoral and post-doctoral research in the world. UK scientists have said repeatedly the Brexit lockout damaged Britain's reputation on the world stage and made it difficult for universities to recruit researchers from the EU. In terms of recipients, the universities of Oxford and Cambridge are neck and neck, with awards of over €65m each, followed by University College London and Imperial College. With projects ranging from the research to develop brain catheters inspired by wasps to efforts to create aviation fuel from yeast and greenhouse gases, the UK has been catapulted to the top of the league of non-EU beneficiaries by number of grants. Sign up to Headlines Europe A digest of the morning's main headlines from the Europe edition emailed direct to you every week day after newsletter promotion Ferdinando Rodriguez y Baena, a professor in medical robotics at Imperial College London recently completed a 15-year Horizon-backed research project creating a cranial catheter inspired by a conversation he had with the renowned zoologist Julian Vincent about wasps' ability to penetrate hard tree bark to lay eggs. Smaller grantees have included individual projects on topics such as textile recycling, conservation and robots on farms. The UK was one of the leading beneficiaries of Horizon, earning more in grants than it contributed in funds before Brexit.
The Herald Scotland
a day ago
- The Herald Scotland
Aberdeen oil jobs at risk as BP reviews operations
'The North Sea: We have a proud history and we're proud of the team producing for more than 60 years now, and it's been a tremendous piece of business for us,' the head of BP's oil and gas production unit Gordon Birrell enthused. He added: 'I would say the North Sea performance this year in terms of safety, production, costs has been tremendous. They really have stepped up … so kudos to the team up there.' Mr Birrell was speaking in a presentation to analysts fronted by BP chief executive Murray Auchincloss, who is leading a campaign to help the company retain its independence amid investor dissatisfaction with its performance. As BP's share price has trailed behind rivals such as Shell and US giants ExxonMobil and Chevron, some sector watchers think the firm could be vulnerable to a takeover bid. READ MORE: As Chevron closes Aberdeen office, what now for North Sea jobs? Mr Auchincloss decided to refocus BP on the oil and gas business after succeeding Bernard Looney, who championed a drive to turn the company into a renewables powerhouse. As the company posted $2 billion (£1.5bn) second quarter profits last week, Mr Auchincloss said he had agreed with chairman designate Albert Manifold that BP should conduct a thorough review of its portfolio of businesses to ensure it maximizes shareholder value. The decision to launch the review will cause concern among sector-watchers in Scotland amid fears that firms will slash investment in the North Sea in response to a series of tax hikes in recent years. Chancellor Rachel Reeves sparked outrage when she increased the rate of the windfall tax in her first Budget in October. The move gave added impetus to a shakeup in the area which has seen giants combining their North Sea businesses in a bid to reduce costs. The consolidation process will have worrying implications for jobs. Israeli-owned Ithaca Energy announced plans for lay offs in March months after it merged with the bulk of the North Sea portfolio amassed by Eni of Italy. READ MORE: Israeli-owned firm takes control of UK's biggest gas field Shell and Norwegian giant Equinor are in the process of combining their North Sea operations. Asked why BP had not made a similar move, Mr Birrell told analysts: 'The reason we haven't jumped into a joint venture is we believe we've got the best portfolio up there and that's been our view for quite a while.' His comments underline BP leaders' belief in the long-term potential of the company's North Sea assets and may help to dispel fears that the company is cooling on the area. The North Sea portfolio includes stakes in the giant Clair oil field West of Shetland and four big developments off Aberdeenshire. Mr Birrell has noted the potential to achieve a significant increase in production off Shetland where BP has been considering plans for a third phase of development of the Clair field. READ MORE: Just Transition Fund farce deepens as Scottish firms fight over windfarm scraps In the results presentation, BP noted that the Murlach oil field development in the North Sea is one of 10 major upstream projects that it expects to start up by the end of 2027. The list includes projects in the Americas, West Africa and Egypt. Murlach will be linked to the ETAP production platform 140 miles east of Aberdeen. However, Mr Birrell signalled that BP's enthusiasm for the North Sea may wane if Ms Reeves does not offer some concessions to the industry in the Budget she will announce later this year. 'We're also monitoring any potential changes to the fiscal situation in the North Sea which we expect to get some clarity on at some point this year,' he noted, adding: 'Once we've got clarity on the fiscal situation we'll then make decisions.' North Sea industry leaders have warned that the increase in the windfall tax that was announced in October will lead to big cuts in investment in the area. They have focused their campaigning efforts on a call for the Government to bring forward the expected end date for the windfall tax to 2026 from 2030. READ MORE: SNP Government green jobs failure seen in English city success The case for change has been boosted by the fall in the crude price in recent weeks amid concern about the outlook for global demand. Brent crude is selling for around $66 per barrel compared with $80/bbl in June. It fetched more than $120/bbl in 2022 when the windfall tax was introduced by the former Conservative Government. The OPEC oil exporters organisation has caused complications by agreeing to a significant increase in members' total production quotas. However, Ms Reeves has limited room for manoeuvre given her need to boost tax revenues to fund the Government's spending plans. The case for oil and gas tax cuts may have been undermined by ExxonMobil boss Darren Woods in comments reported by the FT this month. Mr Woods told reporters that ExxonMobil wanted to increase oil and gas production saying: 'Frankly if you look at the price environment we're in it's very attractive. So I think if you can't make money and generate good returns … you probably have a bigger, more fundamental issue.' READ MORE: Scotland set for surge in windfarm developments amid Donald Trump opposition Against that backdrop the Chancellor may not feel she needs to give much ground. It seems unlikely that BP would resort to a dramatic move such as a complete exit from the North Sea if hopes for significant tax changes are disappointed. If the company decided to sell off some North Sea assets bargain hunters might have the upper hand. However, BP is unlikely to commit to large scale developments such as an extension of the Clair field so long as its tax concerns are not addressed. BP provided a reminder last week that the outlook for jobs at the firm and in the wider sector will remain bleak regardless of what Ms Reeves does. The company said it planned to shed 6,200 jobs globally, including 4,700 under an existing programme of cuts, without specifying where. Mr Auchincloss highlighted the potential for AI to help the firm boost the efficiency of its exploration and production operations. News that the redundancy programme could result in a 15% cut in the number of office jobs at BP will spark alarm in Aberdeen. The company remains a major employer in the granite city despite axing hundreds of North Sea jobs during the downturns the industry has weathered in recent years.
Daily Mirror
2 days ago
- Daily Mirror
UK's 'worst' broadband officially confirmed - full list of winners and losers
The latest Ofcom stats are out and here are the best and worst broadband, TV and phone providers when it comes to complaints. The latest stats have arrived, and we now know who is winning and losing when it comes to broadband. Ofcom has just released its very latest figures for complaints and it's bad news for those signed up to TalkTalk. The UK internet Service Provider (ISP) has come bottom of the charts, with it receiving the most gripes compared to its rivals. Ofcom's report shows that TalkTalk gets 13 complaints per 100,000. It might not sound too bad but that figure is more than double the moans made to BT-owned Plusnet. Confirming the news, Ofcom said: "TalkTalk was the most complained-about broadband provider, with complaints figures remaining at similar levels to the previous quarter. "Plusnet was the broadband provider that generated the fewest complaints." Virgin Media wasn't far behind TalkTalk with the ISP getting result of 12. This was followed by EE, Vodafone and and BT who all scored 11. PLUSNET • 5 complaints per 100,000 SKY • 7 complaints per 100,000 NOW • 9 complaints per 100,000 BT • 11 complaints per 100,000 VODAFONE • 11 complaints per 100,000 EE • 11 complaints per 100,000 VIRGIN MEDIA • 12 complaints per 100,000 TALKTALK • 13 complaints per 100,000 In response to Ofcom's stats, a TalkTalk spokesperson said: "We're very disappointed with this latest report and are working hard to improve how we handle customer complaints as well as reducing the need for them in the first place. "We continue to invest heavily in a range of projects focused on our customers, giving our frontline colleagues better tools to understand problems, and improving the way we communicate with our customers. We believe these efforts will be reflected in future reports.' This latest update isn't just about broadband. Ofcom's team also looks into Landline, Mobile and Pay-TV complaints as well. If you want the best Landline, Utility Warehouse wins with just 1 complaint per 100,000. Sadly EE and TalkTalk both came bottom of the league with a score of 8 complaints per 100,000. Those paying for TV might want to switch to Sky with the provider winning in the Pay-TV category with just 2 complaints per 100,000. Virgin Media came with the worst score of all TV content providers. Vodafone and Tesco both came out on top for Mobile with these platforms both getting the fewest complaints. According to Ofcom, complaints about fixed broadband and pay-TV increased, and complaints about landline and mobile stayed the same, which clearly shows that service providers need to improve. Speaking about the new stats, Natalie Hitchins, Which? Head of Home Products and Services, said: "These findings highlight just how many broadband and mobile firms are continuing to fall short of their customers' expectations. "Year after year, our research shows that smaller providers are outshining the biggest broadband and mobile firms and out-of-contract customers who switch could make significant savings. On average, out-of-contract TV and broadband customers could save £160 by switching and mobile customers could save £67. 'Any telecoms customers who are nearing the end of their contract and are unhappy with their current provider, or could stand to make savings, should not hesitate to vote with their feet and move to a different provider.'
