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Meanwhile, the Impact trade union – which represents cabin crew, pilots and some ground staff at Aer Lingus – said it has written to the government about its concerns about the planned takeover, warning that 1,200 jobs were at risk in the deal.
Khalid Mahmood, Labour MP for Birmingham's Perry Barr constituency, said the takeover warning was a "complete and utter political move" by the government.
Similar(56)
Halliburton and Transocean, which were also involved in the Deepwater Horizon project, were found to be negligent, but not grossly so.Jack Lew, America's Treasury secretary, once again urged Congress to pass legislation to stop tax inversion takeovers, warning that the relocation of American corporate profits to lower-taxed countries threatened the progress made on reducing the budget deficit.
The boss of Home Retail Group has insisted the company does not need a takeover despite warning that poor sales at its Argos chain would hit profits.
Veterans of Gamaa al-Islamiya, the ultraconservative Islamist group that waged a terrorist campaign in Egypt two decades ago and later renounced violence, said that since the military takeover they had been warning angry jihadis to shun their group's former tactics.
The Spanish electric company Endesa yesterday criticized a condition the government placed on its proposed takeover of rival Iberdrola, warning that the cost of complying could endanger the deal.
"Argentina has just shot itself in the foot in a really bad way," said Spain's foreign minister, José Manuel García-Margallo, warning that the takeover would hamper Argentina's access to international credit and export markets.
In the memo he voiced concern that Cable, the business secretary, had referred the takeover to media regulator Ofcom, warning him that James Murdoch was "pretty furious" and that the government "could end up in the wrong place in terms of media policy as a result".
The CBI supports some of the report's recommendations but is warning that changing takeover rules would be a "big step" which should not be rushed and that remuneration of company directors should be a matter for shareholders, not government.
However, a potential takeover drew warnings on cuts to jobs and scientific research from trade unions and scientists.
John Walden, Home Retail's boss, insisted recently that Argos would be able to survive on its own, but the group's ability to fend off a takeover was damaged by its profits warning after a tough christmas.
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