Department for Business, Energy and Industrial Strategy
The Department for Business and Industrial Strategy is a department of the government of the United Kingdom, created by Theresa May on 14 July 2016 following her appointment as Prime Minister, through a merger between the Department for Business and Skills and Department of Energy and Climate Change. BEIS brought together responsibility for business, industrial strategy, science and innovation with energy and climate change policy, merging the functions of the former BIS and DECC; the Ministers in the Department for Business and Industrial Strategy are as follows: In October 2016, Archie Norman was appointed as Lead Non Executive Board Member for the Department for Business and Industrial Strategy. The department is responsible for government policy in the following areas: Some policies apply to England alone due to devolution, while others are not devolved and therefore apply to other nations of the United Kingdom; some economic policies are devolved but many aspects of several important policy areas are reserved to Westminster.
Reserved and excepted matters are outlined below. Scotland Reserved matters: The Economy Directorate of the Scottish Government handles devolved economic policy. Northern Ireland Reserved matters: Business regulation and support Climate change policy Company law Competition Consumer protection Corporate governance Import and export control Employment relations Energy Export licensing Insolvency Intellectual property Nuclear energy Outer space Postal services Product standards and liability Research councils Science and research Telecommunications Time Trade associations Units of measurementExcepted matter: Outer space Nuclear powerThe department's main counterpart is: Department for the Economy
Avocet Mining plc is a West African-focussed gold mining and exploration company with its primary operations in Burkina Faso and Guinea. The company is listed on the Oslo Børs. Avocet Mining was formed in 1995 and a year listed on LSE with a market capitalisation of £72m with gold deposits in Peru, tungsten interests in Portugal and California and an operating gold mine in Penjom, Malaysia. In 1999 the Company divested tungsten operations to focus on gold. Avocet moved onto the AIM market with a market capitalisation of £ 12m. In the same year the Company acquired 80% in North Lanut, Indonesia and a 49% interest and management control in gold mining company ZGC in Tajikistan, disposed of in 2007. In 2008 Avocet acquired the Seruyung gold exploration project in Indonesia. 2009 saw the Company acquire Wega Mining and the Inata gold project in Burkina Faso, the Company poured its first gold that year. Avocet listed on the Oslo Axess list of the OSE in 2010 while disposing of the Houndé licences in Burkina Faso to Avion.
The Company disposed of all its South East Asian assets in 2010. In May 2011 the company had to halt operations at the Inata mine due to "illegal labour unrest"; the same year, Avocet Mining listed on the Main Market of the LSE, with a market capitalisation of £434m. The company operates a gold mine at Inata in the north of Burkina Faso. Management intend to expand the mine at Inata in late 2012 such that gold production can start at the new facilities in late 2013; the Company has a pipeline of exploration projects across 21 exploration licenses in Burkina Faso and Guinea. Avocet Mining's exploration licences at Bélahouro in Burkina Faso cover 1,660 km2, whilst at its other main project, Tri-K in Guinea, it has an exploration license covering 986 km2. All of Avocet's exploration mining licenses are located within the prospective Birimian greenstone belt that dominates West Africa's geological landscape. Burkina Faso Avocet Mining’s operations in Burkina Faso are located within a 1,660 km2 land package in the Bélahouro district 220 kilometres north-east of the capital, Ouagadougou.
Outside of the Inata Gold mine license area, Avocet Mining has exploration permits over a large land package broadly known as Bélahouro. Extensive exploration work is ongoing within this area. Guinea Avocet Mining has a number of development projects across twelve exploration licences in Guinea; these include the 986km2 Tri-K Block, consisting of eight exploration licences across the Koulékoun, Kodiéran and Kodiafaran gold prospects. The most advanced is Koulékoun with a Mineral Resource of 2.15 million ounces, undergoing a feasibility study. The exploration licences in Guinea are 100% owned by Avocet Mining. Within Avocet’s Inata mine license area, a Mineral Resource of 3.985 million ounces and a Mineral Reserve of 1.85 million ounces has been proven. At the Souma project, within the Bélahouro region but outside of the Inata mine license area, a further Mineral Resource 0.56 million ounces has been defined. The Inata mine produced 167,000 ounces of gold in 2011. In 2012, the Inata mine is expected to produce 135,000 to 140,000 ounces of gold.
An exploration programme in the Tri-K Block of permits in Guinea is ongoing and is focused on three main licences - Koulékoun, Kodiéran and Kodiafaran. The most advanced of these is Koulékoun with a Mineral Resource estimate of 2.15 million ounces. Kodiéran is the second largest with a maiden Mineral Resource of 0.87 million ounces. Official site
Coins of the pound sterling
The standard circulating coinage of the United Kingdom is denominated in pounds sterling, since the introduction of the two-pound coin in 1994, ranges in value from one penny to two pounds. Since decimalisation, on 15 February 1971, the pound has been divided into 100 pence. From the 16th century until decimalisation, the pound was divided into 20 shillings, each of 12 pence. British coins are minted by the Royal Mint in Wales; the Royal Mint commissions the coins' designs. As of 31 March 2016, there were an estimated 30.14 billion coins circulating in the United Kingdom. The first decimal coins were circulated in 1968; these were the five pence and ten pence, had values of one shilling and two shillings under the pre-decimal £sd system. The decimal coins are minted in copper-plated steel, nickel-plated steel and nickel-brass; the two-pound coins, and, as from 28 March 2017 the new one-pound coins, are bimetallic. The coins are discs, except for the twenty pence and fifty pence pieces, both of which have faces that are heptagonal curves of constant width, the new one-pound coins, which have faces with 12 sides.
All the circulating coins have an effigy of Queen Elizabeth II on the obverse, various national and regional designs, the denomination, on the reverse. The circulating coins, excepting the two-pound coin, were redesigned in 2008, keeping the sizes and compositions unchanged, but introducing reverse designs that each depict a part of the Royal Shield of Arms and form the whole shield when they are placed together in the appropriate arrangement; the exception, the 2008 one-pound coin, depicts the entire shield of arms on the reverse. All current coins carry a Latin inscription whose full form is ELIZABETH II DEI GRATIA REGINA FIDEI DEFENSATRIX, meaning "Elizabeth II, by the grace of God and Defender of the Faith". In addition to the circulating coinage, the UK mints commemorative decimal coins in the denomination of five pounds. Prior to decimalisation, the denomination of special commemorative coins was five shillings, that is, 1⁄4 of a pound. Crowns, had a face value of 25p from decimalisation until 1981, when the last 25p crown was struck.
Ceremonial Maundy money and bullion coinage of gold sovereigns, half sovereigns, gold and silver Britannia coins are produced. Some territories outside the United Kingdom, which use the pound sterling, produce their own coinage, with the same denominations and specifications as the UK coinage but with local designs. In the years just before decimalisation, the circulating British coins were the half crown, two shillings or florin, sixpence, threepence and halfpenny; the farthing had been withdrawn in 1960. There was the Crown, which was, still is legal tender, worth 25p, but did not circulate. All modern coins feature a profile of the current monarch's head; the direction in which they face changes with each successive monarch, a pattern that began with the Stuarts. For the Tudors and pre-Restoration Stuarts, both left and right-facing portrait images were minted within the reign of a single monarch. In the Middle Ages, portrait images tended to be full face. From a early date, British coins have been inscribed with the name of the ruler of the kingdom in which they were produced, a longer or shorter title, always in Latin.
The English silver penny was derived from another silver coin, the sceat, of 20 troy grains weight, in general circulation in Europe during the Middle Ages. In the 12th century, Henry II established the sterling silver standard for English coinage, of 92.5% silver and 7.5% copper, replacing the earlier use of fine silver in the Middle Ages. The coinage reform of 1816 set up physical sizes for silver coins. Silver was eliminated from coins, except Maundy coins, in 1947; the history of the Royal Mint stretches back to AD 886. For many centuries production was in London at the Tower of London, at premises nearby in Tower Hill in what is today known as Royal Mint Court. In the 1970s production was transferred to Llantrisant in South Wales. Scotland and England had separate coinage. Coins were hand-hammered — an ancient technique in which two dies are struck together with a blank coin between them; this was the traditional method of manufacturing coins in the Western world from the classical Greek era onwards, in contrast with Asia, where coins were traditionally cast.
Milled coins were produced first during the reign of Elizabeth I and periodically during the subsequent reigns of James I and Charles I, but there was opposition to mechanisation from the moneyers, who ensured that most coins continued to be produced by hammering. All British coins produced since 1662 have been milled; the English penny first appeared as a silver coin. It was derived from another silver coin, the sceat, of 20 troy grains weight, in general circulation in Europe during the Middle Ages; the weight of the English penny was fixed at 22 1⁄2 troy grains by Offa of Mercia, an 8th-century contemporary of Charlemagne. The coin's designated value, was that of 24 troy grains of silver, with the difference b
Bank of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government's banker, still one of the bankers for the Government of the United Kingdom, it is the world's eighth-oldest bank, it was owned by stockholders from its foundation in 1694 until it was nationalised in 1946. The Bank became an independent public organisation in 1998, wholly owned by the Treasury Solicitor on behalf of the government, but with independence in setting monetary policy; the Bank is one of eight banks authorised to issue banknotes in the United Kingdom, has a monopoly on the issue of banknotes in England and Wales and regulates the issue of banknotes by commercial banks in Scotland and Northern Ireland. The Bank's Monetary Policy Committee has a devolved responsibility for managing monetary policy; the Treasury has reserve powers to give orders to the committee "if they are required in the public interest and by extreme economic circumstances", but such orders must be endorsed by Parliament within 28 days.
The Bank's Financial Policy Committee held its first meeting in June 2011 as a macroprudential regulator to oversee regulation of the UK's financial sector. The Bank's headquarters have been in London's main financial district, the City of London, on Threadneedle Street, since 1734, it is sometimes known as The Old Lady of Threadneedle Street, a name taken from a satirical cartoon by James Gillray in 1797. The road junction outside is known as Bank junction; as a regulator and central bank, the Bank of England has not offered consumer banking services for many years, but it still does manage some public-facing services such as exchanging superseded bank notes. Until 2016, the bank provided personal banking services as a privilege for employees. England's crushing defeat by France, the dominant naval power, in naval engagements culminating in the 1690 Battle of Beachy Head, became the catalyst for England rebuilding itself as a global power. England had no choice. No public funds were available, the credit of William III's government was so low in London that it was impossible for it to borrow the £1,200,000 that the government wanted.
To induce subscription to the loan, the subscribers were to be incorporated by the name of the Governor and Company of the Bank of England. The Bank was given exclusive possession of the government's balances, was the only limited-liability corporation allowed to issue bank notes; the lenders would give the government cash and issue notes against the government bonds, which can be lent again. The £1.2m was raised in 12 days. As a side effect, the huge industrial effort needed, including establishing ironworks to make more nails and advances in agriculture feeding the quadrupled strength of the navy, started to transform the economy; this helped the new Kingdom of Great Britain – England and Scotland were formally united in 1707 – to become powerful. The power of the navy made Britain the dominant world power in the late 18th and early 19th centuries; the establishment of the bank was devised by Charles Montagu, 1st Earl of Halifax, in 1694. The plan of 1691, proposed by William Paterson three years before, had not been acted upon.
58 years earlier, in 1636, Financier to the king, Philip Burlamachi, had proposed the same idea in a letter addressed to Sir Francis Windebank. He proposed a loan of £1.2m to the government. The royal charter was granted on 27 July through the passage of the Tonnage Act 1694. Public finances were in such dire condition at the time that the terms of the loan were that it was to be serviced at a rate of 8% per annum, there was a service charge of £4,000 per annum for the management of the loan; the first governor was Sir John Houblon, depicted in the £50 note issued in 1994. The charter was renewed in 1742, 1764, 1781; the Bank's original home was in Walbrook, a street in the City of London, where during reconstruction in 1954 archaeologists found the remains of a Roman temple of Mithras. The Bank moved to its current location in Threadneedle Street in 1734, thereafter acquired neighbouring land to create the site necessary for erecting the Bank's original home at this location, under the direction of its chief architect Sir John Soane, between 1790 and 1827.
When the idea and reality of the national debt came about during the 18th century, this was managed by the Bank. During the American war of independence, business for the Bank was so good that George Washington remained a shareholder throughout the period. By the charter renewal in 1781 it was the bankers' bank – keeping enough gold to pay its notes on demand until 26 February 1797 when war had so diminished gold reserves that – following an invasion scare caused by the Battle of Fishguard days earlier – the government prohibited the Bank from paying out in gold by the passing of the Bank Restriction Act 1797; this prohibition lasted until 1821. The 1844 Bank Charter Act tied the issue of notes to the gold reserves and gave the Bank sol
Caffyns plc are United Kingdom based motor retailers. The company is listed on the FTSE Fledgling Index of the London Stock Exchange under the ticker CFYN in the general retailers sector. Caffyns have dealerships in Ashford, Eastbourne, Tunbridge Wells & Worthing; the firm was founded in 1865 by William Morris Caffyn as a "Gas and hot water fitter, Bell Hanger, Brass Finisher Tinman & Brazier" but by 1903 began to deal in motor cars. Members of the Caffyn family are still among the board of directors. Http://www.caffynsplc.co.uk
French Connection (clothing)
French Connection is a UK-based global retailer and wholesaler of fashion clothing and homeware. Founded in the early 1970s by Stephen Marks who serves as chairman and chief executive, it is based in London and its parent French Connection Group PLC is listed on the London Stock Exchange. French Connection distributes its clothing and accessories through its own stores in the UK, US and Canada and through franchise and wholesale arrangements globally; the company became notorious for the use of the "fcuk" initialism in its advertising campaigns in the early 2000s. Other brands within the group include Great Plains, Toast and YMC. Former brands include Nicole Farhi. Stephen Marks, who started out in business in 1969 as the Stephen Marks brand, established French Connection in 1972 – a year after the film of the same name was released. Designed as a mid-market women's brand, he has said the name came about because he managed to acquire a large shipment of Indian cheesecloth shirts – via a French contact – that could be resold in the UK at a large profit.
The business expanded into menswear in 1976. In 1978, Nicole Farhi joined French Connection as a designer. In 1983, her eponymous higher-end label was launched by the French Connection parent group and this was not sold until 2010. After Marks floated the French Connection brand on the London Stock Exchange in 1984, he was listed as the 15th richest man in Britain, but by the late 1980s the company was in trouble, he took control of the direction of French Connection again in 1991. French Connection began using the branding "fcuk" in advertising after 1991 when Marks regained control; the first use of the initialism was on faxes sent between Hong Kong and London offices, headed "FCHK to FCUK". Marks said in a subsequent interview; the advertising campaign came about after he was so impressed by a bra advert featuring Eva Herzigová that he contacted the advertising executive behind it, Trevor Beattie though the company did not have a budget for an advertising campaign at the time. It was Beattie who spotted the marketing potential of the initialism and a campaign was launched around it.
Being deliberately similar to the taboo word "fuck", French Connection's use of "fcuk" caused widespread controversy. In addition, there was heavy criticism that French Connection and other advertisers are "free to put up offensive posters, gain huge impact from them, - when they are ordered down - to notch up more publicity". Following a number of complaints about advertising campaigns using the initialism, the UK's Advertising Standards Authority requested that the company submit all poster campaigns for approval before running them. In the United States, the American Family Association urged a boycott of fcuk products; the success of the branding in raising French Connection's profile led to similar tactics from other organisations. French Connection launched a trademark infringement case in the London High Court challenging the owner of "First Consultants UK Ltd", a computer company, over its use of the "fcuk" initialism; the case found that the Internet Domain fcuk.com was registered prior to French Connection applying for the UK Trademark and its claim for passing off was dismissed.
Mr Justice Rattee refused to grant an injunction, describing French Connection's use of the initialism as "a tasteless and obnoxious campaign." The company threatened legal action against the political youth organisation Conservative Future, which had adopted the spoof abbreviation "cfuk". French Connection stopped using the initialism in advertising in 2005, reduced its profile in its shops; however it is still used on in-store branding. Despite this lowering of the profile, French Connection remains known as "fcuk" by the UK press. In 2016 it was reported. While the revival of the UK brand's fortunes in the 1990s has been attributed to the success of the FCUK logo, it has had mixed financial fortunes during the 2000s, reflected in its poor share prices in the UK. After losing market share to rivals such as Zara, Topshop and ASOS – with some analysts suggesting its pricing was out of step with other competitor brands – its position improved in 2014; as of 2014 the French Connection brand had 131 stores in the Europe.
French Connection distributes its branded womenswear and menswear through a network of owned stores, through franchised stores in major markets around the world, through concessions in department stores in the UK and through other multi-brand retailers. French Connection has a variety of licensed products,including eyeglasses, toiletries, shoes and watches, which are sold through its own stores and specialist retailers, such as Boots and Specsavers. French Connection represents the majority of French Connection Group's revenue, however it owns a number of other clothing/homewear brands, including YMC, Great Plains and TOAST. Toast now has twelve UK stores. French Connection has produced perfumes as an extension to the main clothing brand; this is a partial list Eau de Fcuk No. 1, No. 2, No. 3 – men's range introduced 2000 and women's perfumes in 2001. Fcuk Her and Fcuk Him – Original women's perfume by Zirh/Shiseido and men's perfume by James Krivda. Fcuk Connect Her and Fcuk Connect Him – Men's and women's ranges with base notes including musk.
Fcuk Friction Her and Friction Him – Women's perfume includes notes of coconut and vanilla, men's includes citrus. Official website UK & Europe O
RusPetro is an independent oil and gas producer operating in the central portion of the Krasnoleninsk field in Western Siberia. It was listed on the London Stock Exchange until its privatisation in June 2016; the company was founded by Vladimir Marchenk in Cyprus in 2007 and was subsequently known as Petroltech Holdings until June 2011 when it became RusPetro Holdings. It made its Initial Public Offering in January 2012, it was de-listed from the London Stock Exchange in June 2016. The company has completed a well in the Krasnoleninsk field producing 700 barrels of oil per day; the significant shareholders as of November 2014 were: Limolines, Alexander Chistyakov, Andrey Rappoport, Schroder Investment Management Ltd, Henderson Global Investors Ltd, Mastin Sberbank Capital and Thomas Reed. Official site