VENTURE CAPITAL POST

Chancellor George Osborne has announced a £1-billion rescue package for trouble-hit North Sea oil industry. The government is also extending £730 million support for renewable electricity.

The UK government and Office for National Statistics (ONS) have decided to enhance data quality. Taking central bank Governor Charlie Bean's suggestions into consideration, the British government has earmarked GBP 17 million ($24 million) investment for creating new centers of excellence.

Protests turned into a full-fledged 24-hour strike by the junior doctors of NHS when their negotiations with the government failed to yield results. The new policy failed to address payment issues and overall job security.

The British government has urged the U.S. Supreme Court to review an appeals court ruling against BP Plc (BP.L) over a 2010 Gulf of Mexico oil spill that produced one of the largest class actions in American history.

The British government will announce on Monday it has agreed a deal to sell off a portfolio of student loans worth 900 million pounds, Sky News reported on Sunday, quoting people close to the situation.