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Smiths, the aerospace group, is to demerge its automotive division. The move comes after nine months of seeking a buyer for the division which it inherited from its takeover of engineering company the TI Group last year. Smiths’ management will have no involvement in the business, although it will retain a 20 per cent equity in the new company, which is at present unquoted.

BP under pressure_3

Oil company BP’s partners are understood to be attempting to force the company to use US contractors for the construction of a new oil platform. The partners, including Chevron and Conoco, claim that US shipyards offer savings of up to a third compared with UK companies, for the oilfield in Clair, west of Shetland. BP has said it will strongly argue the case for domestic contractors.

Vertical Take Off_3

In 1992, British Aerospace recorded the biggest single asset write-off in UK corporate history. Yet, by 1999, it was able to acquire its largest national rival in a £7.8 billion deal.

Commons faces bill_3

The House of Commons has been landed with a £10 million bill for damages after breaches of procurement regulations in the award of a contract for the new MPs’ offices at Portcullis House, according to a report from the National Audit Office.

Levy deadline news_3

Renewable electricity generators who want to apply for their output to qualify for an exemption from the climate change levy, due to be introduced on 1 April, must fill out an Ofgem questionnaire by 16 February. More information is available at www.ofgem.gov.uk.

‘Pay on time’ call_3

The Better Payment Practice Group, which campaigns against late and bad payment, is holding “Collect the Cash” seminars across the country this month, covering invoicing and collection, encouraging prompt payment and overcoming delaying tactics. Tickets costs £12. For more details, call 020 7369 9333 or visit www.payontime.co.uk.

Green plan blasted_3

Proposed procedures obliging energy suppliers to commit to renewable contingency plans are a bureaucratic cost burden, according to a lobby group.

Assembly wide open_3

If the halted Welsh Assembly building becomes a private finance initiative project, Grosvenor Waterside, the landowner of the assembly site, could take over construction.

Framework in place_3

Manchester Airport is offering framework deals for construction consultants for work estimated at up to £1 billion over the next 15 years. Areas to be covered include quantity surveying, project management, architecture and landscape, and structural and mechanical engineering.

NHS goes to Europe_3

The NHS is to advertise its business case for a single Internet-enabled finance and e-procurement system in the Official Journal of the European Communities in late September. Responses will be due by January and the contract awarded by December next year.