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Tullow buys six exploration licences in East Africa to repeat Ugandan oil find

first_img Tullow buys six exploration licences in East Africa to repeat Ugandan oil find Share Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndoDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaUndo whatsapp Thursday 2 September 2010 7:40 pm Show Comments ▼ KCS-content center_img More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org whatsapp OIL explorer Tullow is buying 50 per cent stakes in six exploration licences in Kenya and Ethiopia as the hunt for oil in East Africa gathers pace.Tullow said yesterday the positions it is acquiring are in the East African Rift Basin, which has a similar geology to Uganda’s Lake Albert Rift Basin where it has discovered oil fields big enough to turn Uganda into a top-50 oil producer.London-listed Tullow will become the operator of five licences as part of a deal with Canadian explorer Africa Oil Corp, building on a farm-in agreement on a sixth block in the same region announced in August with Canada’s Centric Energy.Interest in East Africa, which is much less explored than West Africa, has been rising on the back of Tullow’s Ugandan discovery and a gas find by US firm Anadarko off the coast of Mozambique in February.Oil major Exxon Mobil and BG Group both farmed into Tanzanian blocks earlier this year, while explorer Afren in June bought a Canadian company with 12 blocks in Ethiopia, Kenya, Madagascar and the Seychelles.Under the terms of the deal, which is subject to formal government approvals, Tullow said it would reimburse pro-rata past costs in each block and pay Africa Oil’s future costs up to $23.75m (£15.4m).Shares in Tullow closed down four per cent at £11.85 yesterday. Tags: NULLlast_img read more

US announces state probe of practices among mortgage firms

first_img All 50 US states yesterday launched a joint investigation of the mortgage industry, a move some experts fear will cause uncertainty and threaten the recovery of the fragile housing market.The state attorneys general are looking at allegations some banks used shoddy or fraudulent paperwork to remove struggling borrowers from their homes during a foreclosure crisis that is one of the most visible wounds of the 2007-2009 recession.Industry experts warn the investigation could put the brakes on foreclosure proceedings. One of every four homes sold in the second quarter was a foreclosed property and any slowing could have an impact on the broader economy, as the housing market traditionally drives recoveries after a downturn. The US has an $11 trillion (£6.9 trillion) residential mortgage market. KCS-content Share US announces state probe of practices among mortgage firms whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp Show Comments ▼ Wednesday 13 October 2010 8:02 pm Tags: NULLlast_img read more

Barclays profit hit by weak investment banking

first_img More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comColin Kaepernick to publish book on abolishing the policethegrio.com Tuesday 9 November 2010 2:44 am Barclays said key investment banking income remained weak in the past four months, countering a sharp improvement in bad debts that lifted the British bank’s underlying third-quarter profit.Barclays, whose chief executive John Varley will be succeeded by investment bank boss Bob Diamond at the end of March, said it made an underlying July-September pretax profit of £1.27bn.Including a charge on its own credit its pretax profit was £327m in the quarter, down over 1 billion pounds.But income at Barclays Capital fell to £2.83bn in the third quarter, down 14 per cent from the previous quarter, to extend a first-half slowdown as capital markets activity weakened.BarCap’s income in October was consistent with the run rate of the third quarter, the bank said.Barclays has emerged as one of the relative winners from the financial crisis after steering clear of a taxpayer bailout, but there has been growing concern about BarCap’s slowing momentum.Losses on bad debts in the first nine months were down 31 per cent to £4.3bn, putting Barclays on target to beat its 2010 guidance that bad debts would fall 15-20 percent.The bank said it was “well equipped” to deal with regulatory changes as tougher global capital rules are implemented, and its core Tier 1 capital ratio held at 10 percent at end-September. whatsapp John Dunne Share center_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Barclays profit hit by weak investment banking Tags: NULL Show Comments ▼last_img read more

BG Group in a $3.5bn Brazil drilling deal

first_img KCS-content Thursday 11 November 2010 8:39 pm whatsapp Tags: NULL Show Comments ▼ BG GROUP has signed a $3.5bn (£2.bn) contract to build eight giant floating drilling platforms to help pump oil from a string of discoveries off the coast of Brazil.BG and Petrobras, Brazil’s state oil company, said the joint order for the new vessels had been placed with private Brazilian company Engevix Engenharia. BG will pay $911m of the total, with the balance coming from Petrobras, Repsol of Spain and Portugal’s Galp, joint venture partners in Brazil’s Santos Basin oil project.The floating production units known as FPSOs will have the capacity to process up to 150,000 barrels per day of oil and 6m cubic meters of gas per day and are expected to be in operation by 2017, Petrobras said in a statement.Construction of the hulls will start in March at a shipyard in the southern state of Rio Grande do Sul with 70 per cent of their content sourced in Brazil. The first two should be delivered in 2013 and the rest completed by 2015. Of the eight units, six will be used in the Santos Basin blocs where the Tupi and Iracema fields are located and which are operated by Petrobras, BG Group and GALP. The other two will be used in a bloc containing the Guara and Carioca fields. BG Group in a $3.5bn Brazil drilling deal center_img Share Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDirect HealthyKate Silverton’s PartnerDirect Healthythedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter Centerlast_img read more

Job security vital to wellbeing

first_imgSunday 9 January 2011 10:34 pm Job security vital to wellbeing Show Comments ▼ Jobs, health and family are the most important factors for people’s wellbeing, the government announced today. The results are part of an ongoing “debate on how to measure national wellbeing,” already involving more than two thousand respondents. “We want to encourage people to tell us what matters to them,” said programme director Paul Allin. Yet the coalition should not be “collecting swathes of information to try and manipulate how people live,” said a spokesperson for the Institute of Economic Affairs, a think tank that has criticised the social wellbeing study. KCS-content More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Sharecenter_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusWomenTales.com20 Pieces of Clothing Older Women should AviodWomenTales.comDental Implants | Search AdsNew Dental Implant Prices For Seniors May Surprise YouDental Implants | Search AdsY-Jesus.comJesus’s Resurrection was a Reality. Here’s WhyY-Jesus.comLoveMyFamilyMag.comTop 15 Natural Foods to Control High Blood PressureLoveMyFamilyMag.comStudent SeaWoman’s Car Gets Vandalised, Then She Finds Out It’s Much More DeadlyStudent Sea whatsapp Tags: NULLlast_img read more

Inflation stays steady in France

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definitionthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Inflation stays steady in France More From Our Partners UK teen died on school trip after teachers allegedly refused her pleasnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMark Eaton, former NBA All-Star, dead at 64nypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPuffer fish snaps a selfie with lucky divernypost.com French consumer price inflation remained steady at 1.7 per cent year-on-year in February after increasing 0.47 per cent month-on-month. “Despite higher oil prices, inflation is easing marginally for the second month in a row,” commented economist Dominique Barbet of BNP Paribas. whatsapp Sharecenter_img Tuesday 15 March 2011 8:21 pm KCS-content whatsapp Tags: NULL Show Comments ▼last_img read more

Flight insurance on the rise

first_img Show Comments ▼ Read This NextWATCH: Shohei Ohtani continues home run tear, Los Angeles Angels winSportsnautYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Airline industry predictions of a passenger increase in 2011 combined with fleet investment has led to a four per cent jump in insurance premiums, says Aon Risk Solutions. Passenger forecasts for 2010-11 have picked up in every region of the world including a likely 12 per cent improvement in the Asia Pacific region. whatsapp Tags: NULL Flight insurance on the rise KCS-content center_img whatsapp Monday 4 April 2011 7:12 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Sharelast_img read more

Cameron says Brown is not the right man to lead IMF

first_img Show Comments ▼ DAVID Cameron effectively ended Gordon Brown’s hopes of leading the IMF yesterday after a scathing attack on his economic record.The Prime Minister said: “It does seem to me that if you have someone who didn’t think we had a debt problem in the UK, when we self-evidently do have a debt problem, then they might not be the most appropriate person to work out whether other countries around the world have debt and deficit problems.”Under current rules the EU proposes the IMF’s managing director, giving Cameron the right to veto a candidate. He said the next IMF boss should probably come from outside the EU, adding it should be someone who “understands the dangers of excessive debt”. In a further swipe at Brown he said the candidate should not be a “washed up politician”.Although Brown has not officially stated his intention to apply for the post, which may soon be vacant if the incumbent Dominique Strauss Kahn steps down as expected, his recent speeches suggest he is gearing up for a role in international finance, and he has close ties with the IMF.Have your say on whether Brown should lead the IMF KCS-content whatsapp Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMoneyPailShe Was An Actress, Now She Works In ScottsdaleMoneyPailMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comcenter_img whatsapp Cameron says Brown is not the right man to lead IMF Tuesday 19 April 2011 9:02 pm More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKansas coach fired for using N-word toward Black playerthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Sharelast_img read more

BAA warns on Heathrow traffic as losses increase

first_img BAA warns on Heathrow traffic as losses increase Show Comments ▼ whatsapp Tags: NULL BRITISH airports operator BAA scaled back its forecasts for passenger traffic at Heathrow during the peak summer season and said higher interest costs pushed it deeper into the red in the first-quarter, wiping out the benefits of revenue increases and lower costs.BAA, majority owned by Spanish infrastructure group Ferrovial , said yesterday that its outlook for passenger traffic at Heathrow was more cautious, reflecting “an expectation of somewhat lower traffic than previously projected over the peak summer season”.It said higher retail income from duty free shops, restaurants and car parking should limit the damage.The warning on Heathrow traffic volumes came as BAA posted a pre-tax loss for the first three months of the year of £211.5m – worse than the £195.5m posted a year earlier. whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof Wednesday 27 April 2011 7:59 pm Share KCS-content last_img read more

UK to cut FOBT stake to £2 and raise remote tax

first_img UK to cut FOBT stake to £2 and raise remote tax Casino & games 17th May 2018 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: UK & Ireland Subscribe to the iGaming newsletter Topics: Casino & games Finance Legal & compliance Tech & innovation Slots Tags: OTB and Betting Shops Slot Machines The UK government today (Thursday) confirmed the max stake on fixed-odds betting terminals (FOBTs) will be cut to £2 (€2.29/$2.71) with remote duty raised to cover the budget shortfall The UK government has today (Thursday) confirmed that the maximum stake on fixed-odds betting terminals (FOBTs) will be cut to £2 (€2.29/$2.71), with Remote Gaming Duty raised to fill the resulting hole in the pubic finances.The government has not revealed what level it plans to raise the online tax to at this November’s Budget, but an increase to 20% from the current 15% would appear to be the minimum, and it may opt for parity with the existing Machine Gaming Duty of 25%.Campaign groups have long been pushing for changes in regulation for FOBTs, which currently allow punters to wager up to £100 per spin.In March, the UK Gambling Commission (UKGC) published recommendations to support the government with its review of FOBTs, including limiting stakes on slot games to £2 and non-slot games to £30. Despite warnings from a number of major gambling operators that such changes would lead to significant job losses across the industry, Tracey Crouch, Minister for Sport and Civil Society, said that new rules will now be put in place.The UKGC will now be tasked with taking forward discussions with the industry to enhance player protection measures on B1 and B3 category machines, with a key focus on both spend and time limits. “Problem gambling can devastate individuals’ lives, families and communities. It is right that we take decisive action now to ensure a responsible gambling industry that protects the most vulnerable in our society,” Crouch said in a statement. “By reducing FOBT stakes to £2 we can help stop extreme losses by those who can least afford it. “While we want a healthy gambling industry that contributes to the economy, we also need one that does all it can to protect players. “We are increasing protections around online gambling, doing more on research, education and treatment of problem gambling and ensuring tighter rules around gambling advertising. “We will work with the industry on the impact of these changes and are confident that this innovative sector will step up and help achieve this balance.” Changes to the stake will be through secondary legislation and remain subject to parliamentary approval, while the government said it will also engage with the gambling industry to ensure operators are given enough time to implement and complete the technological changes. Matt Hancock, Secretary of State for the Department for Digital, Culture, Media and Sport, added: “When faced with the choice of halfway measures or doing everything we can to protect vulnerable people, we have chosen to take a stand. “These machines are a social blight and prey on some of the most vulnerable in society, and we are determined to put a stop to it and build a fairer society for all.” Responding to the changes, Philip Bowcock, chief executive of William Hill, said: “The government has handed us a tough challenge today and it will take some time for the full impact to be understood, for our business, the wider high street and key partners like horseracing. “We will continue to evolve our retail business in order to adapt to this change and we will support our colleagues as best we can.” As part of the wider review, the government has also announced a series of other measures it said will help to protect punters, with the Gambling Commission charged with  bolster protections around igaming, including stronger age verification rules and proposals to require operators to set limits on consumers spending until affordability checks have been conducted. A major, multi-million pound advertising campaign promoting responsible gambling will launch later this year, while the Industry Group for Responsible Gambling has amended its code to ensure responsible gambling messages appear for the duration of all television gambling adverts. Elsewhere, Public Health England will review evidence relating to public health harms of gambling, while, as part of the next licence competition, the age limit for playing National Lottery games will be reviewed.Related articles: Betfred MD urges final rethink of FOBT changes Shares plunge as Chancellor accepts FOBT limit UKGC makes recommendations for FOBT review Email Addresslast_img read more