Editor: Pat Williams. E-mail pwilliams@creditman.co.uk
John Arnold. E-mail jarnold@creditman.co.uk
Site: Business Credit Management UK
URL: http://www.creditman.co.uk
Issue: 59
Dated: 26th April1998
Welcome to the Business Credit News UK.
In this weeks edition you will find the following topics.
UKSLIGHT FALL IN PAY SETTLEMENTS - CBI
The latest CBI Pay Databank Survey shows that manufacturers' pay settlements averaged 3.7 per cent provisionally in the three months to March 1998, which compares with 3.8 per cent for the three months ending December 1997 and 3.2 per cent for the three months to March 1997.
Since August 1997, 42 per cent of manufacturers said that increases in living costs had put upward pressures on their settlement levels, and 22 per cent pointed to the need to recruit and retain employees. Thirty-nine per cent of manufacturers said that their inability to raise prices was keeping pay awards down, and 25 per cent cited low profits.
Pay awards in service firms are also falling. They averaged 4.1 per cent provisionally in the three months to March 1998. This compares with the 4.4 per cent average for the three months to December 1997, and the 3.6 per cent average for the three months to March 1997. Increases in living costs were considered to be the most influential factor on upward pay pressure (45 %) followed by the need to recruit and retain employees (37 %).
INTEREST RATES EASING FOR EXPORTS
Britain's exporters cheered as the pound eased amid a growing belief that British interest rates have peaked. Sterling slipped below 3.00 D- marks, more than 11 pfennigs down on its nine-year high of 3.11 on March 31st. British Steel plans to insure against a rebound by paying some suppliers in euros.
Source: The Economist
BATTLEFIELD TAXI
Europe's arms industry took another step towards consolidation. A consortium led by Germany's Krauss-Maffei, and also including Britain's GKN, won a 3 billion pounds ($5 billion) contract to build a "battlefield taxi" for Europe's armies. But the really big prize for would-be streamliners -- a single European military-aerospace company -- remains elusive.
Source - The Economist
NEW RIGHTS OF AUDIENCE FOR LEGAL EXECUTIVES
The Institute of Legal Executives (ILEX) has been designated an 'authorised body' for the purposes of the Courts and Legal Services Act 1990.
The necessary Order in Council was made by Her Majesty at a meeting of the Privy Council last week. ILEX's application for 'authorised' status had previously been approved by the Lord Chancellor and the designated judges under the 1990 Act, and by both Houses of Parliament.
The Institute of Legal Executives now joins the Bar Council and the Law Society, both as an authorised body in its own right and as a fully-fledged part of the legal profession."
The application was originally launched by ILEX in November 1993 and formally made to the then Lord Chancellor in March 1996.
As an authorised body, ILEX will be able to grant limited rights of audience before courts and tribunals to suitably qualified Fellows. Rights of audience certificates will be granted for civil proceedings, matrimonial proceedings and coroners' courts proceedings.
As part of the approval process, ILEX's handling of any complaints by members of the public will be brought within the remit of the Legal Services Ombudsman, Ms Ann Abraham, by an order under section 22 of the Courts and Legal Services Act 1990.
This free service resumes this week.
Please go to http://www.creditman.co.uk/insolven/petition.html
Thanks go to our friends at http://www.insolvency.co.uk for providing the information.
JAPAN'S NEW OPPORTUNITIES: Lord Clinton-Davis
A new campaign to highlight trade opportunities in Japan was launched last week by Minister for Trade Lord Clinton-Davis.
The drive will build on the achievements of Action Japan over the last four years while introducing a range of new initiatives to strengthen and expand support for business.
Speaking at the British Festival Spring Ball for Action Japan, at Grosvenor House, Lord Clinton Davis said:
"British business must receive the best possible support to help it succeed in key markets like Japan. Japan is one of our main trading partners - our tenth largest market. The renewed emphasis is now on mutual benefit, on partnership with Japan, which elements of this new campaign clearly portray."
The campaign will feature:
The Campaign is supported by the Action Japan Committee of leading industrialists, under the Presidency of HRH the Duke of Kent KG, and the Chairmanship of Sir Michael Perry, CBE, former Chairman of Unilever plc.
Japan is the world's largest economy after the United States, and is essentially an open market. Most of the formal barriers to trade, which existed until the 1980s, have now disappeared.
LORD CLINTON-DAVIS PRAISES EXPORTS TO TURKEY INITIATIVE
An innovative plan to help small firms export to Turkey last week won the support of the Minister for Trade, Lord Clinton-Davis at a seminar on Exporting to Turkey, hosted by Birmingham University's Business School and organised by Business Link Shropshire.
Lord Clinton-Davis said:
"One of the best ways of learning about a country is by talking to its people. An even better way is to visit.
"I welcome this initiative for three main reasons. Firstly, I am delighted to see a University and a Business Link working in partnership on an initiative designed to help companies. Business Links are beginning to form valuable associations with academic institutions. The solid relationship between Business Link Shropshire and the Birmingham University Business School is a splendid example of a productive collaboration.
"Secondly, the initiative has been designed by Export Development Counsellors to help small to medium-sized companies (SMEs). Although it is the large companies winning large contracts, that grab the headlines, I know what a vital role the numerous SMEs play in our economy. They lie at the heart of a successful enterprise economy and are a crucial source of new and innovative products, processes and services.
"The market is the third reason why I welcome this initiative. It will help to strengthen our commercial relationship with Turkey, not just exports. Of course exports are important, but in today's global economy, we must also consider joint ventures, technology transfer agreements, manufacture under licence and investment overseas.
"There remain a large number of untapped opportunities in Turkey. The demand for British products, British technology and British investment is still greater than we are supplying. I hope that many of those who attend the seminar follow up by visiting Turkey. I have no doubt it will repay the effort."
The event is part of a new programme designed to help SMEs with some international experience to develop a strategy to enter the Turkish market. Companies attending the seminar will be asked to provide details of their company, which will then be forwarded to business partners in Turkey for a market assessment. Those whose products look likely to be able to gain a market share will be invited to take part in the programme.
The Export Development Counsellor (EDCs) for the Business Link will then hold a series of workshops to enable the SMEs to develop a strategy. These will focus on issues such as using an agent, getting paid or legal requirements. In the mean time, agents in Turkey will look for potential business partners. Finally, there will be a visit to the market to establish contacts. The EDCs will provide support throughout and follow up afterwards. For further details, contact Howard Gladwell on 0345 543210.
The Birmingham Business School will also be running a research programme in tandem with the scheme which aims to examine the influences surrounding SME international relationships.
Turkey is one of ten named markets which were identified by the Export Forum in a report last November as being suitable for further export development. Bilateral trade between Turkey and the UK is now approaching #3 billion annually. UK exports to Turkey increased by 12% last year to #1.75 billion. Turkish imports into the UK also went up by 12% to just over #1 billion.
In March, the DTI announced a package of new measures to help companies to export, including SMEs.
On 21 April 1998, the Secretary of State for Trade and Industry, Margaret Beckett, presented a petition in the High Court of Justice in London to wind up, in the public interest, North West Holdings PLC following enquiries made by the DTI under the provisions of Section 447 of the Companies Act 1985.
On the application of the Secretary of State, the Court appointed the Official Receiver as provisional liquidator of North West Holdings PLC on 22 April 1998 pending the hearing of the petition on 6 June 1998.
North West Holdings PLC was incorporated in September 1987 to trade as a holding company from Liverpool, Merseyside.
The company promoted a scheme which was described as the "Flexible Savings and Investment" scheme that represented to clients an attractive return on investments which could not be met. Some of the company's clients opened interest bearing savings accounts at a bank and paid for life and critical illness insurance policies and other services provided by the company from that bank account. The company also arranged life and critical illness insurance policies for other clients who did not enter the scheme.
PLC represented that it was not trading, but the enquiry found that although the company's audited accounts stated that the principal activity of the company was to "act as a licence holder and a holding company" it was collecting premiums from its clients and charging excessive fees for the services it provided through a bank account operated under the style of "Premium Collection Services" from which substantial sums had been withdrawn for the benefit of the officers of the company.
The registered office and principal trading address of the company is at Beetham House, Tithebarn Street, Liverpool.
All public enquiries concerning the business affairs of the company should be made to the Official Receiver at the following address:
The Official Receiver
The Insolvency Service
PO Box 203
21 Bloomsbury Street
London
WC1B 3QW
Tel: 0171 637 6414 (Mr Bradshaw)
*** Forthcoming Creditors Meetings ***
Contributed byhttp://www.insolvency.co.uk
For more detailed information and ALL the British Isles insolvency's (liquidation's, receiverships, administrations, dividends, creditors) please visit http://www.insolvency.co.uk
From 27/04/98 to 05/05/98
Number of Creditor meetings : 156
Section Company Time Venue
138 Scotland - Interim Liquidator calling Creditors Meeting
28/04/98
Thompson Leisure Ltd 12.00 pm Glasgow
29/04/98
Paint & Equipment Supplies Ltd 12.00 pm Glasgow
Voice & Data Ltd 10.30 am Glasgow
01/05/98
Demfield Ltd 12.00 pm Glasgow
John S Morrison (Tapes) Ltd 11.00 am Glasgow
Scot Air Distribution Ltd 11.00 am Glasgow
Smillie Storage Equipment Ltd 12.00 pm Glasgow
W J & D (Contracting) Ltd 03.00 pm Glasgow
05/05/98
Balmore Home Improvements Ltd 11.00 am Glasgow
23 Administrator Calling a meeting of Creditors
28/04/98
Moseley Football Club Ltd 10.30 am Birmingham
29/04/98
St Margarets Home (Hawick) 1997 Ltd 10.00 am Edinburgh
48 Receiver calling unsecured Creditors Meeting
27/04/98
High Row Haulage Ltd 03.00 pm Manchester
29/04/98
Ring Sights Defence Ltd 12.00 pm London
01/05/98
Cast Aristo Ltd 02.30 pm Sheffield
Light FX Ltd 10.00 am London
R G Horton Joinery Ltd 11.00 am Brierley Hill
67 Scotland - Receiver calling Meeting of unsecured Creditors
30/04/98
Lewis Lloyd Holdings Ltd 11.00 am Glasgow
84 N. Ireland - Creditors Voluntary Liquidation
29/04/98
Happythoughts Ltd 11.00 am Belfast
98 Creditors Voluntary Liquidations
27/04/98
A G S S Scaffolding Ltd 11.30 am Sleaford
A Ornstin Ltd 10.30 am Watford
Admix Systems Ltd 02.30 pm Haydock
Adventure Concepts Ltd 11.30 am Preston
Advice In Mortgages Ltd 12.00 pm Cirencester
Automotive Ltd 12.30 am Billericay
Durdans Ltd 11.00 am Uckfield
Fewings Farms Ltd 11.00 am Billericay
Formsound Ltd 02.00 pm Manchester
G H Consultants Ltd 02.30 pm London
Galmay Ltd 12.00 pm Moorhouse
Hallhart Ltd 11.00 am Birmingham
In-Store Photos Ltd 11.30 am Manchester
Macros International (UK) Ltd 11.15 am Leeds
Outdoor Power Products Ltd 11.30 am Manchester
Page Electrical Services Ltd 11.30 am Northampton
Poltonbrae Services Ltd 10.00 am Glasgow
Ravita International Ltd 04.00 pm London
Sagrani Ltd 12.00 pm London
Sanwest Ltd 10.30 am Edgware
Sound Dimension Ltd 11.00 am London
Warner Computer Service Ltd 03.15 pm South Croydon
West Central Enterprises Ltd 03.00 pm London
28/04/98
Alpha Connection Ltd 10.45 am Southampton
Ardul Ltd 11.00 am Leicester
Automated Process Controls Ltd 12.00 pm Southampton
Cadogan Fashions Ltd 12.00 pm London
Capitoline UK Ltd 11.00 am London
Churchward Construction Ltd 11.00 am Tonbridge
City Couriers (North West) Ltd 03.00 pm Manchester
Cobden Building Maintenance Ltd 11.30 am Manchester
Colour Surface Coatings Ltd 12.00 pm Manchester
Coombe Hill Tools Ltd 10.30 am Gloucester
Copy & Drafting Services Ltd 12.00 pm Liverpool
Craig Engineering Ltd 12.00 pm Cardiff
Cyborg Data Management Ltd 10.30 am London
E H Brown (Peckham) Ltd 10.30 am Sidcup
Fast Track Ltd 10.30 am West Byfleet
Fastlane Motor Co Ltd 11.30 am Sileby
Glenside Motors (Upstreet) Ltd 11.30 am Chatham Maritime
Hazelgrove Developments Ltd 10.30 am Darlington
Information 11.15 am London
Iver Ltd 10.00 am London
J Ray Flowers Ltd 02.30 pm Bromley
Lees Garden Supplies (Barkingside) Ltd 04.00 pm London
Lichfield Spires Elec & Mec Contra Ltd 11.00 am Birmingham
Lumsdon Storey Design Co Ltd 11.00 am Sunderland
M & M Durrant Ltd 11.00 am York
N P H Ltd 11.30 am Altrincham
New Age Glass (Midlands) Ltd 02.00 pm Halesowen
S Fisher (Burlington Arcade) Ltd 03.00 pm London
Space Conecta Systems Ltd 11.00 am Sheffield
Swanwick Engineering Ltd 11.00 am Eastleigh
Trancity Coaches Ltd 10.45 am Maidstone
Treble Ltd 01.00 pm Havant
Vale Plant Ltd 11.30 am Cardiff
29/04/98
Allied Knitting (Leicester) Ltd 11.00 am London
Automated Programming Techniques Ltd 11.00 am London
Band Of Gold Ltd 11.00 am Egbaston
Bigland Ltd 11.00 am London
Choice Range Ltd 02.00 pm London
Crescent Care Services Ltd 12.00 pm Manchester
Dorking Beers & Soft Drinks Ltd 11.00 am London
Fisk Catering Ltd 11.30 am London
Full Gate Ltd 04.00 pm London
Harlec Electrical Services Ltd 10.30 am Birmingham
Hire-Tech (Small PLant) Ltd 10.00 am Glasgow
Hobbs Choice Ltd 11.00 am London
Minoa Ltd 12.00 pm London
Roseela Fashions Ltd 11.00 am London
Smith & Sons Butchers Ltd 11.30 am Hornchurch
Solitaire Investments Ltd 12.00 pm London
Strand Furnishings Ltd 02.30 pm Warrington
Surelock Windows (Commercial) Ltd 11.00 am Lancaster
W & S Shoe Repairs Ltd 10.15 am Leeds
30/04/98
3RD Process Ltd 04.00 pm London
Acushla Computers Ltd 11.45 am Guildford
Corniche Computers Ltd 11.30 am Guildford
Electrical Contract Serv (Widnes) Ltd 11.00 am Liverpool
Geoffrey Thompson (Hull) Ltd 11.00 am Hull
Goodlooking Designs Ltd 11.00 am London
HGFL Colour Ltd 11.00 am London
Hillbridge Properties Ltd 10.00 am London
Icon Consultants Ltd 11.00 am Marlow
James Scott Meats Ltd 11.30 am Birmingham
John Hibbert Timber Company Ltd 11.30 am Manchester
Klang Ltd 02.30 pm Halesowen
Leaderline Artists Ltd 11.00 am London
Lincoln (UK) Ltd 11.00 am Glasgow
Morris Merryweather Fire Protect Plc 11.00 am Manchester
Oak Smoked Products Ltd 02.15 pm Hortonwood
P J Livestock Ltd 02.30 pm Northampton
Print 7 Ltd 02.30 pm London
Redline Frieght Services Ltd 10.30 am Southend-on-Sea
Riverside Advertising & Marketing Ltd 10.30 am Yarm
Simply Unique Ltd 12.00 pm Cardiff
Transmission Systems Ltd 12.00 pm London
Westworld Ltd 11.30 am Crawley
X L Transport Ltd 10.30 am Bristol
XL Auto Eletrics Ltd 10.00 am Glasgow
01/05/98
Bevan Commercial Vehicles Ltd 03.00 pm Swansea
Crest Removals Ltd 03.30 pm London
David Scott-Moncrieff Ltd 11.00 am Newcastle
Donview Ltd 10.00 am London
Echo Holdings Ltd 12.00 pm London
Elegance At Home Ltd 03.00 pm London
G & M Poultry Ltd 12.00 pm London
Industrial Waste Water Services Ltd 02.30 pm Leeds
M S E Mechanical Swiss Embroid Co Ltd 02.00 pm Newport
Marner (UK) Ltd 03.45 pm Crawley
Masterglass Glazing Ltd 10.00 am Northampton
Michael Parkes Tyre Company Ltd 11.00 am Aldridge
Multi-Net International Ltd 11.00 am Barnet
Park Lane Contract Services Ltd 02.30 pm Edgware
Precision Ata Ltd 11.30 am Southend-on-Sea
RDJ Engineering Ltd 12.00 pm Cardiff
Rapier Press Ltd 11.00 am London
Redrose European Ltd 11.00 am Darlington
S & M Windows Ltd 03.00 pm Newcastle-u-Tyne
Salcres Construction Ltd 12.00 pm Manchester
Searchmodel Ltd 12.00 pm Liverpool
Supproting Management Ltd 11.00 am London
Vibroflotation Ltd 12.00 pm Preston
03/05/98
Cartwright Builders Ltd 11.30 am Liverpool
05/05/98
Arlcom Ltd 10.15 am Worthing
Autoprint Communications Ltd 10.30 am Crawley
Brittons Fish Ltd 11.15 am Poole
Corporate Graffiti Ltd 11.00 am London
Excellance Productions Ltd 12.00 pm London
J B C Builders Ltd 11.00 am London
Leisurecourse Ltd 12.00 pm London
New Star Promotions Ltd 11.30 am London
North Kent Bowling Club Ltd 12.00 pm London
Phoenix Design London Ltd 11.30 am Birmingham
Protocol Promotions Ltd 12.00 pm London
Townbroke 2000 Ltd 11.30 am Ashford
Trasar Ltd 03.00 pm Northwood
Tube World Ltd 10.30 am Gloucester
TW LW TW LW
USA 1.6731 1.6874 Canada 2.3937 2.4258
Austria 21.1361 21.4317 Portugal 307.497 312.135
France 10.0685 10.2138 Belgium 61.9830 62.8730
Finland 9.1130 9.2460 Italy 2968.35 3012.35
Germany 3.0050 3.0470 Sweden 12.8631 13.1563
Holland 3.3834 3.4313 Switzerland 2.4873 2.5250
Spain 255.170 258.680 Ireland 1.1911 1.2056
Australia 2.5664 2.6071 Denmark 11.4587 11.6269
Hong Kong 12.9657 13.0757 ECU 1.5174 1.5369
Africa Com 8.4492 8.4927 Saudi Arabia 6.2748 6.3283
India 66.3810 67.0070 Malaysia 6.3111 6.2909
Singapore 2.66564 2.6998 Norway 12.4715 12.7068
Japan 218.250 219.220
TW This week LW Last week.
Quadramatic Plc - 1997 UPDATE http://www.corpreports.co.uk/sectors/engineer/quadramatic_97/quadramatic_97.htm
Securicor Plc - 1997 UPDATE http://www.corpreports.co.uk/sectors/telecom/securicor_97/securicor_97.htm
Eurocamp Plc - 1997 UPDATE http://www.corpreports.co.uk/sectors/leisure/eurocamp_97/eurocamp_97.htm
Stratagem Group Plc - 1997 UPDATE http://www.corpreports.co.uk/sectors/industrials/strategem_97/strategem_97.htm
United Utilities Plc - 1997 UPDATE http://www.corpreports.co.uk/sectors/water/united_util_97/united_util_97.htm
S & U Plc - 1997 UPDATE http://www.corpreports.co.uk/sectors/otherfin/s&u_97/s&u_97.htm
Cliveden Plc - 1997 UPDATE http://www.corpreports.co.uk/sectors/leisure/cliveden_97/cliveden_97.htm
London Merchant Securities Plc - 1997 UPDATE http://www.corpreports.co.uk/sectors/property/lms_97/lms_97.htm
Goode Durrant Plc - 1997 UPDATE http://www.corpreports.co.uk/sectors/transport/goodedurrant_97/goodedurrant_97.htm
SDX Business Systems Plc - NEW THIS YEAR http://www.corpreports.co.uk/sectors/electronic/sdx_97/sdx_97.htm
Bellway Plc - 1997 UPDATE http://www.corpreports.co.uk/sectors/electronic/sdx_97/sdx_97.htm
Estates & General - NEW THIS YEAR http://www.corpreports.co.uk/sectors/property/estates_g_97/estates_g_97.htm
Bryant Group Plc - 1997 UPDATE http://www.corpreports.co.uk/sectors/buildcon/bryant_97/bryant_97.htm
Manchester United Plc - 1997 UPDATE http://www.corpreports.co.uk/sectors/leisure/man_utd_97/man_utd_97.htm
Kunick Plc - 1997 UPDATE http://www.corpreports.co.uk/sectors/leisure/kunick_97/kunick_97.htm
Lynx Holdings Plc - 1997 UPDATE http://www.corpreports.co.uk/sectors/support/lynx_97/lynx_97.htm
Scottish Radio Holdings Plc - 1997 UPDATE http://www.corpreports.co.uk/sectors/media/srh_97/srh_97.htm
Dawson Holdings Plc - 1997 UPDATE http://www.corpreports.co.uk/sectors/aim/dawson_97/dawson_97.htm
Partco Group Plc - NEW THIS YEAR http://www.corpreports.co.uk/sectors/distributors/partco_96/partco_96.htm
Leeds Group Plc - 1997 UPDATE http://www.corpreports.co.uk/sectors/textiles/leeds_97/leeds_97.htm
Associated British Foods - 1997 UPDATE http://www.corpreports.co.uk/sectors/food/abfoods_97/abfoods_97.htm
Heritage Bathrooms Plc - 1997 Update http://www.corpreports.co.uk/sectors/housegoods/heritage_97/heritage_97.htm
Source: Corporate Reports
Britain's GECis bidding to make a splash in the defence-electronics market by buying Texas-based Tracor for $1.4 billion. GEC also declared an interest in Northrop Grumman, whose merger with Lockheed Martin America's regulators are trying to block.
Source: The Economist
MARGARET BECKETT DECIDES NOT TO REFER BID BY TEXAS UTILITIES FOR THE ENERGY GROUP
Margaret Beckett, President of the Board of Trade and Secretary of State for Trade and Industry, has decided not to refer to the Monopolies and Mergers Commission (MMC) the proposed acquisition by TU Acquisitions plc, a subsidiary of Texas Utilities Company, of The Energy Group plc.
Mrs Beckett's decision is in accordance with the advice of the Director General of Fair Trading (DGFT) and the views of the Director General of Electricity Supply (DGES).
Announcing her decision, Mrs Beckett said:
"I have said that my general policy is that I will refer mergers primarily on competition grounds, but that where important regulatory issues are raised I may decide that a reference is warranted.
"In August 1997 I referred PacifiCorp's proposed acquisition of The Energy Group to the MMC because I had concerns over whether it would be possible to maintain adequate regulatory control over the merged company, and considered that the issues in that the regulatory issues arising in that case would benefit from a thorough investigation by the MMC. In that case, the MMC found that the financial structure of PacifiCorp's proposed acquisition would result in a significant risk of financial pressure on PacifiCorp which, in the absence of anything to prevent it, would lead to a demand for support from Eastern Electricity, leading it turn to inadequate investment or service standards. The MMC therefore considered carefully whether existing controls were sufficient to protect the UK public interest. They concluded that these existing controls, including the powers and duties of the DGES, and the amendments to Eastern Electricity's licence which would result from assurances previously agreed between the DGES and PacifiCorp, were sufficient to address the risk that Eastern Electricity would be adversely affected by any such financial pressures resulting from that proposed merger. The MMC concluded that the proposed acquisition by PacifiCorp of the Energy Group may be expected not to operate against the public interest.
"The DGES and the DGFT have considered Texas Utilities' proposed acquisition of The Energy Group on its individual merits. Their view is that this merger situation gives rise to concerns which are similar to the concerns which arose in respect of PacifiCorp's proposed acquisition of The Energy Group. In particular, their view is that the financial arrangements associated with the bid by Texas Utilities are such that, in the absence of anything to prevent it, there would be a risk of a major detriment to Eastern and its customers arising from the additional burden of financing arrangements on its cash flow. Their advice, however, is that existing regulatory controls, coupled with licence amendments which the DGES would propose to make should the merger proceed and assurances from Texas Utilities in advance of these amendments, aresufficient to prevent any detriment from arising.
"Texas Utilities have given me assurances to address the regulatory concerns of the DGES. These include assurances relating to Eastern Electricity plc's (Eastern's) financial and management resources, and to maintaining Eastern's financial status, and cross-default provisions within the Texas Utilities group. They also include an assurance that Texas Utilities would ensure that Eastern agree to appropriate licence amendments, including the draft licence amendments proposed by the DGES in his consultation paper "Modifications to Public Electricity Supply Licences following Take-over", and which are intended further to strengthen ring-fencing provisions following acquisitions.
"Taking into account the assurances given by Texas Utilities and the licence amendments which the DGES would propose to make if this acquisition proceeds, I agreed with the DGFT and the DGES that in this case there were no competition or regulatory concerns which warranted a reference to the MMC for further investigation.
"I shall continue to consider any further mergers in this sector on their merits, in the light of the advice of the DGFT. Further mergers may raise regulatory issues, or competition issues which were not present in this case, for example where an acquisition would give rise to an enhanced degree of vertical integration, or result in the common ownership of the businesses of two or more Regional Electricity Companies."
A copy of the assurances given by Texas Utilities is attached.
ASSURANCES GIVEN TO THE PRESIDENT OF THE BOARD OF TRADE BY TEXAS UTILITIES COMPANY
Texas Utilities Company assures the President of the Board of Trade that if its proposed acquisition of The Energy Group plc is successful it will:
The Secretary of State for Trade and Industry has been asked to consent, (under section 58(4) of the Fair Trading Act 1973), to the transfer to Newsquest Media Group Limited of the newspapers and related assets of Kinsman Reeds Limited, publisher of the Warrington Mercury and Newton and Earlestown Mercury, without a report from the Monopolies and Mergers Commission (MMC). Anyone wishing to comment on the proposed transfer should write by Tuesday 5 May to:
Consumer Affairs and Competition Policy Directorate 3
Department of Trade & Industry
Room 6.R.16
1 Victoria Street
London
SW1H 0ET
Fax: 0171 215 6565
NIGEL GRIFFITHS REFERS TO MMC ACQUISITION BY TOMKINS PLC OF ASSETS OF KERRY GROUP PLC
Nigel Griffiths, Competition and Consumer Affairs Minister, has decided, in accordance with the advice of the Director General of Fair Trading, to refer the acquisition by Tomkins of assets of the Kerry Group plc to the Monopolies and Mergers Commission for investigation and report under the provisions of the Fair Trading Act 1973. The MMC are required to make their report by 29 July 1998.
The Minister considers that the acquisition raises competition concerns in respect of the market for the supply of flour in Great Britain. The decision to make a reference does not in any way prejudge the question of whether or not the merger would be against the public interest. It is for the MMC to report on this after its investigation.
The Fair Trading Act 1973 empowers the Secretary of State to refer to the MMC for investigation and report actual or proposed mergers which create or intensify a market share of 25 per cent of the supply in the United Kingdom, or a substantial part of the United Kingdom, of particular goods and services or involves the take-over of assets exceeding #70 million pounds.
The assets of the Kerry Group acquired by Tomkins are the assets and businesses of six Spillers flour mills and the Fleming Howden business.
A $30m action against AOL for defamation has been thrown out of court because US law rules that Internet service providers are not accountable for the content of web sites using their service.
GOVERNMENT SECURE INTRANET GOES LIVE: CLARK LAUNCHES GLOBAL IT NETWORK
A new Government IT system which enables Government Departments to talk to each other securely and gives access to the global Internet network was launched last week by Public Service Minister Dr David Clark.
Dr Clark said:
"A year ago I was amazed that it was not possible to electronically communicate securely about everyday things with other Government Departments. So today I very much welcome this exciting new IT system which allows all Departments who connect to the Government Secure Intranet to have this facility.
"My own Department, the Cabinet Office, and the offices in No.10 Downing Street are now connected and can talk easily with each other in a secure way, with other Departments and with anyone on the Internet.
"The GSI is a vital component in our plans for Better Government.
It is the technical key that will make the vision of seamless delivery of Government services a reality. It will revolutionise the way Government Departments work together in a secure environment with greater efficiency to make sure that people get the quality services they deserve simply and quickly."
The technology behind the Government Secure Intranet system offers the benefits of a private Internet for Government Departments. It allows previously independent Government computer systems to link together securely and provides a well-protected access point to the Internet. It has been tested extensively using pilot groups from Departments, and others are already connecting and using it. All major Departments are to be connected during the course of this year.
Other Government Departments and agencies who are already connected to the GSI include the Treasury, the Department for Education & Employment, the Department of Trade & Industry and the Central Computer and Telecommunication Agency. Further Departments are expected to join over the next few weeks.
The GSI was developed through partnerships forged with the private sector and Government Agencies and other bodies.
The GSI network is managed by Cable & Wireless. Security products were developed by Zergo, TIS and Sapher Servers. IT companies, Digital and Microsoft provided technical expertise. The GSI contract was managed by the Government Agency, CCTA, with innovative work provided by the technical security arm of GCHQ and the Defence Evaluation & Research Agency.
CITU, the Central Information Technology Unit (part of the Office of Public Service), is responsible for advising Ministers on IT strategy across Whitehall departments and agencies. For media enquiries on the work of CITU, contact Cabinet Office press office, details below.
CCTA, the Central Computer and Telecommunications Agency (also a part of the Office of Public Service) is an Agency with the aim of helping government to improve the delivery of its services through the best use of IT.
DTI PROMOTES INTELLIGENT SYSTEMS TO INFORM BUSINESS
Few companies can remain competitive without taking practical steps to ensure that the skills of the workforce are used intelligently throughout the business. This is the warning issued by Small Firms Minister, Barbara Roche as DTI launches 'Intelligent Systems in Business', a new interactive CD-ROM created to advise businesses on integrating intelligent systems into their core business processes.
Intelligent systems are crucial to every area of work - from production and mainstream services, to sales, IT and accounts. In today's increasingly competitive business environment important facts can become obscured by the mass of data that is available. Just having the know-how is not enough: it's how that know-how is applied that really matters. Intelligent systems help businesses achieve this.
Intelligent systems use software that acts in a similar way to the human mind, selecting and sifting relevant information, learning from experience and building on knowledge. Intelligent systems can help identify problem areas, select relevant data and consider the pros and cons of different options. They help automate trivial, but time consuming, tasks and help achieve a consistent quality in completed work. They also help businesses ensure that critical knowledge is preserved when key staff move on.
The CD-ROM features over 100 diverse industry case studies, detailing how expertise and 'know-how' of skilled staff can be incorporated across the enterprise through the use of intelligent systems. Many frequently asked questions (FAQs) are also answered by experts. The package also features over 20 software programme demonstrations as well as comprehensive reference materials ranging from technology briefings to practical advice.
The CD-ROM is part of the DTI's Information Society Initiative Programme for Business and aims to encourage business to integrate intelligent systems with other business systems and build a co-ordinated 'knowledge' enterprise.
The CD-ROM has been produced from the #13 million joint industry, DTI and Engineering and Physical Science Research Council programme on Intelligent Systems Integration, involving 12 universities and 28 companies. This programme is part of the Information Society Initiative Programme for Business.
The 'Intelligent Systems in Business' CD-ROM is available to the public FREE on request from the Infoline, telephone 0345 15 2000 or e-mail info@isi.gov.uk. More information is available on the website at www.isi.gov.uk/isip. Press copies of the CD ROM can be obtained from Jackie Whalley at the DTI on 0171 215 1374.
The Information Society Initiative (ISI) Programme for Business is a partnership between Industry and Government to help British businesses, especially small and medium sized enterprises, compete successfully in the emerging global information society. The specific aim of the programme is to promote the use and development of information and communication technologies (ICTs), thereby giving British industry as a whole a competitive edge. Through a series of awards and challenges, extensive support materials, partnership with industry and a national network of Local Support Centres, ISI Programme for Business is reaching out to all sectors and areas of the economy. ISI Programme for Business Publicity Centre can be contacted on 0171 828 1593 (Fax 0171 931 9640).
27 April Norfolk Branch meeting of the ICM Time TBA Creative Accounting - The Balance Sheet Which Lies Presentation by Cork Gully - how unscrupulous directors try to mislead the users of financial statements. Venue TBA 6 May West Midlands Branch meeting of the ICM 6.30 for 7.00pm An Evening of Light Entertainment by Carl Chinn Tickets are available at £2.50, at each monthly meeting Members and guests welcome. Venue as 1 April + Wine & Buffet 11 May Stoke on Trent Branch meeting of the ICM 6.30 for 7.00pm The Internet Presentation by Equifax Europe Ltd Chamber of Commerce. Etruria, Stoke-on-Trent + Refreshments 12 May London Branch meeting of the ICM 6.00 for 6.30pm Forensic Accounting - an Inside Perspective Rick Helsby, partner in charge of Cooper & Lybrands forensic accounting division. London Transport Property. 55 Broadway, London SW1 Nearest tube St. James Park 12-14 May UK Spring Internet World National Hall, Olympia, London 01865-388-000 www.interworld.co.uk 19th May The ICM 1998 National Conference and Exhibition World Trade - The Credit Perspective The Cumberland Hotel, Marble Arch, London W1 Attendees and Exhibitors please call the Training Department at the ICM. Tel 01780-721888
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