The business pages of British newspapers are packed with a diverse array of topics, ranging from pharmaceutical sales agreements to tax cuts and real estate.
In the pharmaceutical industry, there has been a significant development as the body representing Britain’s pharmaceutical industry reached an NHS-branded sales agreement with the government. This news comes after months of disputes and warnings that the country’s key growth sector was losing international ground.
Meanwhile, in finance, Bank of England Governor Andrew Bailey has issued a warning that UK interest rates will need to stay high for some time despite a sharp fall in the annual inflation rate. On the other hand, Prime Minister Rishi Sunak has hinted at potential business tax cuts to boost economic growth, promising to reduce the tax burden “carefully and sustainably” over time.
The real estate industry is also facing significant changes, with EY in talks to abandon its London headquarters as working from home continues to transform professional life. Additionally, Cazoo founder may see his shareholding in the company almost wiped out as bondholders take control. In the media industry, former Ofcom boss is acting as a secret lobbyist for RedBird IMI which is in advanced talks to take control of The Daily Telegraph. Lastly, OpenAI’s ousted boss has stated that their top priority along with Microsoft CEO Satya Nadella is ensuring OpenAI continues to thrive.