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The Markets
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Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Pharma & Biotech

Most followed: VW, Hinkley Point, EDF Energy, Apple..

The crisis engulfing global carmaker VW shows no sign of abating any time soon....

The crisis engulfing global carmaker VW shows no sign of abating any time soon and financial repercussions for the group could match the scale of BP's Gulf of Mexico spill five years ago, according to experts.

In focus now is a supervisory board meeting today likely to appoint a successor to Martin Winterkorn, the chief executive, who fell on his sword last night - forced out by the emissions rigging scandal.

The chatter is the next man in the hot seat (not an enviable position) will be head of Porsche - Matthias Mueller, but the talk is other heads will roll in the next few days as this PR disaster looks very far from over.

VW has already said it has set aside €6.5bn, but that may well be nowhere near enough, when one considers BP (LON:BP.) has shelled out US$18.7bn for the Deep Water Horizon tragedy.

Interestingly, VW has hired the same legal team, which the oil major used.

The news that VW was rigging diesel emissions tests in the US has blown open the whole debate about the pitfalls of using the fuel, which though it produces lower carbon dioxide throws out dangerous particulates and nitrogen oxides.

What we pump into the atmosphere is of course a big issue and one greener technology, though not welcomed, of course by many , is nuclear power.

Also gaining hits in web-world was news that the owner of the Hinkley Point nuclear power station has defended its plan to build a new plant in Somerset, UK, despite its giant cost of £24.5bn

The chief executive of France's EDF Energy has told the BBC the project was not too expensive, adding power form the plan would cut customer bills by at least 10% by 2026.

Chancellor George Osborne this week secured investment from the Chinese by guaranteeing a £2bn deal.

Osborne's five day tour in China has been well publicised and received, no doubt, but has not been on the scale that Pope Francis has received in the USA.

Indeed, such is the security and added traffic on streets, that it has meant Apple customers, will have to wait a little longer for their brand new iPhone 6S', due to go on sale today (Friday).

Deliveries of the 'must have" tech to Washington DC, New York City and Philadelphia are going to be delayed, it was rerported.

In company news, travel giant Thomas Cook (LON:TCG) was in focus, and up almost 3% after reporting a strong summer's sales and that it was on course to meet full year profits it had already warned would be lower.

In the smaller cap arena, Independent Oil & Gas (LON:IOG) was a big mover - up almost 22% - as it told investors it had made significant progress towards drilling the planned Skipper well in the North Sea.

The oil and gas junior, which has been working to secure funding for a number of months, said it has commitments amounting to around £7mln for the project.

Advanced discussions are ongoing with the oilfield service companies - such as the rig owner, well operator, subsea equipment supplier and an essential rig services provider – and they have all committed to either part-fund, defer payment or provide loans.

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