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Oxford Nanopore names new CEO, Harbour Energy agrees to sell Indonesian operations
By Iain Gilbert
Date: Monday 08 Dec 2025
(Sharecast News) - LONDON PRE-OPEN
The FTSE 100 was expected to open 13.4 points lower ahead of the bell on Monday after wrapping up the previous session 0.45% weaker at 9,667.01.
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Oxford Nanopore Technologies has appointed Francis Van Parys as chief executive, succeeding Gordon Sanghera, who has led the company since its inception in 2005. Van Parys is currently president and CEO of acute care diagnostics company Radiometer, part of Danaher Corporation. Sanghera will step down from the board on 2 March and remain as an employee of in an advisory capacity through to early 2027.
Oil and gas company Harbour Energy has agreed to sell its operated interests in the Natuna Sea Block A field and the Tuna development project in Indonesia to Prime Group for $215m in cash. The FTSE 250-listed firm said the sale was subject to customary regulatory approvals, while completion was targeted for the second-quarter of 2026.
Medical devices group Smith & Nephew unveiled plans to downsize its portfolio on Monday, alongside an increase in full-year guidance. Updating shareholders ahead of a capital markets day in London, S&N said it had identified opportunities to "simplify" its product range. Long-term, it expects the rationalisation to reduce gross inventory by around $500m and lead to a "significant" reduction in capital requirements. It will, however, take a non-cash provision in the 2025 accounts of $200m as a result of the shake-up.
NEWSPAPER ROUND-UP
Britain's energy system operator is pulling the plug on hundreds of electricity generation projects to clear a huge backlog that is stopping "shovel-ready" schemes from connecting to the power grid. Developers will be told on Monday whether their plans will be dismissed by the National Energy System Operator - or whether they will be prioritised to connect by either the end of the decade or 2035. - Guardian
Local authorities in England and Wales have warned their finances are at "breaking point" with more councils expected to fall into bankruptcy in future, as they face a nervous wait to discover their government funding this month. Council leaders expect changes to annual funding arrangements will result in steep cuts for many local authorities, preventing many from balancing their books and providing basic services to citizens. - Guardian
One in three Gen Z workers expects to retire early because of health problems, amid a surge in conditions like anxiety, depression and ADHD. Some 35% of employees aged 16 to 24 said they expected to have to stop working early for health reasons, a survey by Axa found. This was the highest share of any age group and Axa said it reflected widespread mental health problems among this age group. - Telegraph
Anglo American is braced for a backlash from investors over plans to award its boss a share bonus worth about £8.5m if he secures its merger with a Canadian rival. The FTSE 100 mining group is seeking approval from shareholders this week to guarantee the share awards to Duncan Wanblad under long-term incentive plans if the company delivers the $50bn deal with Teck Resources. - The Times
Jobs, investment and Britain's energy security are under threat from punitive taxes on North Sea oil and gas producers, the chairman of Ineos's energy division has warned. Brian Gilvary lambasted the government for "leading by ideology without debate or logic" after ministers decided to maintain a levy of 38% on the profits of North Sea oil producers in the recent budget. This means the headline rate of tax on UK oil and gas operations stands at 78%. - The Times
US CLOSE
Wall Street trading finished with modest gains on Friday as interest rate cut speculation continued to prop up equity markets, with the S&P 500 settling just inches below all-time highs.
At the close, the Dow Jones Industrial Average was up 0.22% at 47,954.99, while the S&P 500 had advanced 0.19% to 6,870.40 and the Nasdaq Composite saw out the session 0.31% firmer at 23,578.13.
Reporting by Iain Gilbert at Sharecast.com
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