Latest news with #SSE
Mint
2 days ago
- Business
- Mint
SAP Wins Early Round in US Legal Fight With Celonis
S SE won an early round in a lawsuit filed in the US by one of Europe's most valuable startups accusing the German technology giant of illegally wielding its market power. A federal judge in San Francisco on Monday dismissed antitrust claims by Celonis SE that S blocked access to data in its systems to give an unfair advantage to its own Signavio unit. The judge said Celonis can try to revise and refile the claims. Celonis and Signavio both offer process mining software to find inefficiencies within business enterprise systems and eliminate them. S is the world's largest vendor for Enterprise Resource Planning software, including bookkeeping and procurement solutions. The companies did not immediately respond to a request for comment. After the court held a hearing a week ago and the judge spoke about how he intended to rule, a spokeswoman for Celonis said via email the company was pleased interference claims would move forward. 'We believe that businesses should have the freedom to select the best technology solutions' without 'interference, misinformation or unfair restrictions,' she said, adding Celonis would continue to defend these principles. A spokeswoman for S said in an email at the time that 'S continues to reject Celonis' claims' and S would 'continue to vigorously defend' itself and its innovations. US District Judge Vince Chhabria allowed a claim of interference with contractual relations to move forward and said that pretrial fact-finding known as discovery can begin immediately. Chhabria wrote in his ruling that Celonis alleged 'that S's conduct has caused multiple Celonis customers to consider not renewing their contracts and has required Celonis to reassure those customers to prevent them from doing so.' The judge said this was 'plausibly a disruption to Celonis's contractual relationships.' William Kovacic, a law professor at George Washington University, said Celonis appeared to be testing a novel antitrust theory. 'It's a theory of harm that hasn't been broadly accepted by the courts, and it's a theory of harm that's been developed to try to overcome earlier jurisprudence that gives dominant firms a lot of freedom to do what they want,' he said. The case is Celonis SE v. S SE, 3:25-cv-02519, US District Court, District of Northern California . This article was generated from an automated news agency feed without modifications to text.
The Herald Scotland
2 days ago
- Business
- The Herald Scotland
SNP Government insists renewable energy jobs boom on cards
The Government is seeking views on proposals which could see up to 40 gigawatts (GW) of new capacity added by 2040, which it reckons would be enough to power 45 million homes. The current ambition is between 8-11GW by 2030. 'We need to update our ambition for offshore wind to reflect and firmly underline our commitment to economic growth and investment offered by the sector,' said Ms Martin. She added: 'Scotland's offshore wind sector is already creating significant opportunities, delivering jobs and attracting major investment across the country.' Her comments look like a fresh attempt by SNP ministers to claim credit for a development that reflects the influence of geography and other factors beyond its control. READ MORE: Just transition furore reignited as SNP Government flounders As much of Scotland is surrounded by windy waters it has been an obvious focus of investor interest in offshore wind developments. The SNP Government's role in promoting growth has been minimal. It has control over planning but has faced criticism for delays in approval of the giant Berwick Bank development planned by SSE. The Scottish Government has held two offshore wind licensing rounds since taking control of the acreage concerned from the UK Crown Estate in 2017. It claims the ScotWind and INTOG rounds were big successes. However, successful applicants made clear that their interest reflected the availability of generous revenue support under schemes run by the UK Government such as the Contracts for Difference programme. The costs of this are added to the bills of households across the UK. Ms Martin did not refer to the subsidies but colleagues have underlined their importance. In a letter to then chancellor Jeremy Hunt in November 2023, finance secretary Shona Robison wrote: 'The Contracts for Difference programme has been very successful in supporting the deployment of renewables in Scotland.' She called on Mr Hunt to increase the amount of support provided to 'include allocating sufficient budget to develop Scottish projects at scale'. Ms Robison also said the UK Government should urgently accelerate the development of an appropriate market support mechanism to encourage firms to develop the huge energy storage facilities that will be needed to maximise the potential of windfarms. Households pay a fortune to compensate firms which operate Scottish windfarms that are switched off in times of low demand. Last year the Labour Government launched a revenue support scheme to encourage investment in large scale storage facilities but developers such as SSE have said it is not generous enough. READ MORE: Scottish hydropower boom hopes fade amid threats to major projects Ms Martin's statement did not include any evidence in support of her claim that Scotland's offshore wind sector is delivering jobs. The Scottish Government doesn't have the statistics required to support that claim. Boosters rely on estimates that renewables supported 42,000 jobs in Scotland in 2021 produced by academics at the University of Strathclyde - who warned they came with a moderately large margin of error and should not be over-interpreted. Industry leaders admit that job creation in Scotland has been disappointing. This is despite successive SNP Governments launching sector support schemes with big budgets culminating in the £500m offshore wind supply chain initiative announced by former first minister Humza Yousaf in October 2023. Ms Martin said the SNP Government would invest up to that amount over five years to 'support market certainty, create a highly productive, competitive offshore wind economy and support thousands of jobs, while embedding innovation and boosting skills'. But her announcement included further indications that the current SNP Government badly needs ideas about how to turn the grand vision into a reality. READ MORE: SNP Government green jobs failure seen in English city's success A section in the offshore wind consultation document entitled 'delivering ambitions' hailed the ScotWind and INTOG licensing rounds without explaining how they would translate into activity that would benefit the Scottish supply chain. The announcement asks: 'What additional actions do you believe should be taken by the Scottish Government, UK Government and agencies in order to realise the full potential of Scotland's offshore wind sector?' The consultation period is open until August 13. The launch of the consultation process came soon after the SNP Government was forced to admit that some of its climate ambitions were fanciful. In April last year then energy secretary Mairi McAllan scrapped the target to reduce emissions by 75% by 2030 after being forced to accept it was not credible. The Scottish Government adopted a system of five-year carbon budgets to replace emissions reductions targets. In a recent report on those budgets, the Climate Change Committee highlighted the extent to which advances made so far have been due to UK Government support. 'Progress to date has largely come from electricity decarbonisation, reflecting Scotland's abundant renewable resources,' said the expert body, which advises the UK and devolved governments. 'This is a reserved area of policy and Scotland has benefited from measures across Great Britain's electricity system.' While independence supporters pin the blame for everything on 'London', the Committee highlighted failings in areas where the Scottish Government is clearly in control. These include actions it could take to reduce demand for energy. The demand side of the equation seems to get forgotten amid the posturing of SNP ministers. READ MORE: North Sea jobs cull looms after blockbuster oil and gas deals The CCC appears to think the move to carbon budgets will be helpful at some point. However, interim chair Piers Forster, warned: 'We do need to see action now.' He noted: 'The Scottish Government has devolved powers to deliver the necessary emissions reductions in key sectors, particularly buildings, surface transport, agriculture, and land use. We encourage them to exercise these powers as quickly and fully as possible.' Underlining the scale of emissions from buildings, the Committee lamented the fact that plans to tackle these were left in limbo in April when the Scottish Government scrapped proposals for a scheme that would have cost householders a fortune. The Committee said: 'It is therefore disappointing that the proposals for regulations to upgrade properties at the point of sale have been abandoned, with, as yet, no specific alternative measures to deliver the target for heating to be zero emissions by 2045.' Ms McCallan assumed the housing brief after returning from maternity leave this month. The Committee also said the Scottish Government needs to do more to promote public transport and low carbon farming. 'Long-term certainty is needed on public funding for farming practices and technologies to reduce emissions from managing crops and livestock,' it said. The Committee recommended the Scottish Government support farmers in woodland creation, peatland restoration, agroforestry, and renewable energy. READ MORE: Israeli-owned firm takes control of UK's biggest gas field But the Scottish Government decided to reject the advice on farming, which could alienate supporters in SNP heartland areas such as North-East Scotland. Ms Martin said: 'While we welcome the UK CCC's advice … it is always for Scotland to decide whether those policies are right for us. She noted: 'To ensure we protect rural communities and have a thriving rural economy, we will not adopt all their recommendations on agriculture and peatland and will instead meet our targets in a way which works for rural Scotland, including supporting and protecting our iconic livestock industries.' But cosying up to farmers may only help the SNP Government recover some of the support it lost after abandoning the oil and gas industry as it courted the green vote under former FM Nicola Sturgeon. She led the 2014 independence campaign alongside Alex Salmond on the claim the North Sea's reserves would power an independent Scotland to prosperity.
Yahoo
4 days ago
- Business
- Yahoo
Scottish Power plots Ovo merger to create Britain's third-largest energy supplier
The Spanish owner of Scottish Power has held talks about a merger with Ovo to create Britain's third-largest energy supplier. Iberdrola has been in preliminary discussions with Ovo about a tie-up to combine the two companies' 6.4m customers, Sky News reported, potentially creating a new business to rival British Gas and Octopus, the UK's two largest gas and electricity suppliers. Ovo was launched in 2009 as a challenger to the traditional 'big six' and became Britain's fourth-largest energy provider in 2020 when it acquired SSE for £500m. The business now has 4m customers, although it has faced criticism for customer service failings and overcharging households in recent years, which have led to fines from Ofgem, the regulator. Scottish Power was bought by Spanish energy giant Iberdrola in 2007 for £11bn, but customer numbers have declined in recent years. It now serves 2.4m households, according to the latest data. Any potential tie-up would involve Ovo's shareholders and Iberdrola retaining stakes in the combined group, with the Spanish company potentially putting more cash into the business. No announcement is believed to be imminent and one source suggested that a deal between the two was unlikely. However, if successful, it would become the third-largest household energy supplier in the UK. Speculation of a potential merger comes after Ovo hired bankers at Rothschild last year to raise hundreds of millions of pounds in new investment. Ovo's shareholders, including the Japanese conglomerate Mitsubishi and the investment funds Mayfair Equity Partners and Morgan Stanley Investment Management, are willing to raise cash either through a sale or by bringing in a new backer. Stephen Fitzpatrick, the company's founder, also remains a significant shareholder but is no longer involved in running day-to-day operations. The company has brought in Justin King, the former Sainsbury's chief, to chair the company and David Buttress, the former Just Eat boss who served as Boris Johnson's cost of living tsar, as its chief executive. Meanwhile, Scottish Power's owners have increasingly focused on its renewables business in recent years, turning it into one of Britain's biggest wind power providers. Scottish Power and Ovo declined to comment. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Telegraph
4 days ago
- Business
- Telegraph
Scottish Power plots Ovo merger to create Britain's third-largest energy supplier
The Spanish owner of Scottish Power has held talks about a merger with Ovo to create Britain's third-largest energy supplier. Iberdrola has been in preliminary discussions with Ovo about a tie-up to combine the two companies' 6.4m customers, Sky News reported, potentially creating a new business to rival British Gas and Octopus, the UK's two largest gas and electricity suppliers. Ovo was launched in 2009 as a challenger to the traditional 'big six' and became Britain's fourth-largest energy provider in 2020 when it acquired SSE for £500m. The business now has 4m customers, although it has faced criticism for customer service failings and overcharging households in recent years, which have led to fines from Ofgem, the regulator. Scottish Power was bought by Spanish energy giant Iberdrola in 2007 for £11bn, but customer numbers have declined in recent years. It now serves 2.4m households, according to the latest data. Any potential tie-up would involve Ovo's shareholders and Iberdrola retaining stakes in the combined group, with the Spanish company potentially putting more cash into the business. No announcement is believed to be imminent and one source suggested that a deal between the two was unlikely. However, if successful, it would become the third-largest household energy supplier in the UK. Speculation of a potential merger comes after Ovo hired bankers at Rothschild last year to raise hundreds of millions of pounds in new investment. Ovo's shareholders, including the Japanese conglomerate Mitsubishi and the investment funds Mayfair Equity Partners and Morgan Stanley Investment Management, are willing to raise cash either through a sale or by bringing in a new backer. Stephen Fitzpatrick, the company's founder, also remains a significant shareholder but is no longer involved in running day-to-day operations. The company has brought in Justin King, the former Sainsbury's chief, to chair the company and David Buttress, the former Just Eat boss who served as Boris Johnson's cost of living tsar, as its chief executive. Meanwhile, Scottish Power's owners have increasingly focused on its renewables business in recent years, turning it into one of Britain's biggest wind power providers.
Business Wire
25-06-2025
- Business
- Business Wire
BeOne Medicines Receives Positive CHMP Opinion for Tablet Formulation of BRUKINSA ®
BASEL, Switzerland--(BUSINESS WIRE)-- BeOne Medicines Ltd. (NASDAQ: ONC; HKEX: 06160; SSE: 688235), a global oncology company, today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency issued a positive opinion recommending approval of a new film-coated tablet formulation of BRUKINSA ® (zanubrutinib) for all approved indications. The CHMP positive opinion will now be reviewed by the European Commission, which will grant the marketing authorization for the tablet formulation in the European Union and in the European Economic Area countries Norway and Iceland. 'The CHMP's positive opinion of our new tablet formulation of BRUKINSA is an important step toward bringing this thoughtful, patient-centered innovation to people facing certain B-cell cancers across Europe,' said Giancarlo Benelli, Senior Vice President and Head of Europe, BeOne. 'We look forward to a potential approval later this year and remain committed to delivering our impactful medicines to more patients in the region.' The BRUKINSA tablets have been shown to be bioequivalent to the BRUKINSA capsules based on the results of two single-dose, open-label, randomized Phase 1 crossover studies in healthy subjects. The recommended dose of BRUKINSA remains – 320 mg daily. The BRUKINSA tablets are 160 mg each, allowing patients to halve their daily pill intake and take two tablets daily. The new tablet formulation maintains BRUKINSA's dosing flexibility by providing patients and prescribers with the option of once- or twice-daily dosing and is designed to simplify management of dose reductions as per label recommendation. Additionally, the BRUKINSA tablets are smaller than the capsules and have a film coat, which makes them easier to swallow. BeOne Medicines will begin to convert BRUKINSA from capsules to tablets in regions outside China in 2025 as part of our commitment to sustainable business practices, including reducing our impact on the environment. This adjustment will decrease the bottle size by ~70% while also enabling the shipment of this medication with reduced temperature controls, which we expect to reduce energy needs, greenhouse gas emissions, and global transport costs. Today's announcement follows the U.S. Food and Drug Administration (FDA) approval of the new tablet formulation of BRUKINSA for all five approved indications earlier this month. In the U.S., BRUKINSA is the leader in new patient starts for chronic lymphocytic leukemia (CLL) across all lines of therapy, and for the first time, has become the overall BTK inhibitor market share leader. 1 Important Safety Information The current European Summary of Product Characteristics (SmPC) of BRUKINSA is available from the website of the European Medicines Agency. This information is intended for a global audience. Product indications vary by region. About BeOne Medicines BeOne Medicines is a global oncology company domiciled in Switzerland that is discovering and developing innovative treatments that are more affordable and accessible to cancer patients worldwide. With a portfolio spanning hematology and solid tumors, BeOne is expediting development of its diverse pipeline of novel therapeutics through its internal capabilities and collaborations. With a growing global team of more than 11,000 colleagues spanning six continents, the Company is committed to radically improving access to medicines for far more patients who need them. To learn more about BeOne, please visit and follow us on LinkedIn, X, Facebook and Instagram. Forward-Looking Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including statements regarding the future potential approval of the tablet formulation of BRUKINSA by the European Commission and the timing of such approval; and BeOne's plans, commitments, aspirations, and goals under the heading 'About BeOne.' Actual results may differ materially from those indicated in the forward-looking statements as a result of various important factors, including BeOne's ability to demonstrate the efficacy and safety of its drug candidates; the clinical results for its drug candidates, which may not support further development or marketing approval; actions of regulatory agencies, which may affect the initiation, timing, and progress of clinical trials and marketing approval; BeOne's ability to achieve commercial success for its marketed medicines and drug candidates, if approved; BeOne's ability to obtain and maintain protection of intellectual property for its medicines and technology; BeOne's reliance on third parties to conduct drug development, manufacturing, commercialization, and other services; BeOne's limited experience in obtaining regulatory approvals and commercializing pharmaceutical products and its ability to obtain additional funding for operations and to complete the development of its drug candidates and maintain profitability; and those risks more fully discussed in the section entitled 'Risk Factors' in BeOne's most recent quarterly report on Form 10-Q, as well as discussions of potential risks, uncertainties, and other important factors in BeOne's subsequent filings with the U.S. Securities and Exchange Commission. All information in this press release is as of the date of this press release, and BeOne undertakes no duty to update such information unless required by law. To access BeOne media resources, please visit our Newsroom.
