Astrazeneca ploughs £300m into UK in surprise U-turn Pharma British drugs giant Astrazeneca has promised to plough £300m into its UK operations, just months after cancelling a nine-figure investment in a new lab after getting in a spat with the UK government over drug pricing. In a stunning volte-face, the UK’s largest pharmaceutical company said it would revive its £200m investment into a megalab [...]
FTSE 100 Live: Stocks drop as oil holds firm over $110; UK growth slashed Markets Good morning and welcome back to the City AM liveblog. Oil prices are holding firm tipping over the $110 mark, bringing the cost of a barrel closer to the highs of $118 it peaked at earlier in the Iran war. Brent crude – the international benchmark for oil – advanced another one per cent on [...]
Global Counsel to be placed into administration Business Global Counsel’s 130 staff have been informed that the lobbying company founded by Peter Mandelson will be placed into administration as soon as tomorrow. City AM understands that despite a number of clients deciding to stay with the firm, the loss of business following the former US ambassador’s fall from grace has been substantial. A [...]
Global Counsel loses more clients as Epstein scandal deepens February 11, 2026 The crisis engulfing the lobbying firm founded by Peter Mandelson, Global Counsel, deepened on Tuesday, after three more of its blue-chip clients parted ways with the advisory over its links to co-founder Mandelson and the convicted sex trafficker Jeffrey Epstein. City AM understands that pensions giant Phoenix, Tesco and Bank of America have all severed [...]
GSK to acquire US biotech group for $2.2bn January 20, 2026 FTSE 100 giant GSK has reached an agreement to acquire US based biotech group Rapt Therapeutics. The deal values the company, which develops therapies for treating people with inflammatory and immunologic diseases, at $2.2bn (£1.6bn), and marks the first major deal for new GSK chief executive Luke Miels, coming just weeks after he took charge [...]
GSK strikes deal to cut drug prices with US government December 22, 2025 GSK has struck a voluntary agreement with the US government to lower the cost of prescription medicines and expand access to treatments for millions of Americans. The move comes as pressure mounts on global drugmakers over pricing, tariffs, and domestic investment. The London-listed pharma giant said the deal covers medicines used by over 40m US [...]
UK and US agree to zero tariff deal on pharmaceuticals December 1, 2025 The government has agreed to a major deal with Washington that will see the UK become the only country to secure zero import tariffs on pharmaceutical products into the US for at least three years. The deal follows months of negotiations between the government and the Trump administration, after the June trade deal left the [...]
COP out: Big businesses swerve climate conference November 18, 2025 COP 26 in Glasgow represented a high-water mark for companies flouting their ambitious transition plans and lofty climate credentials. This year’s summit could not be more different, writes Ali Lyon. Reclining on stage at the 26th COP summit in his native Glasgow, Alan Jope was at home both literally and spiritually. The Unilever chief executive [...]
GSK shares jump as profit upgrade defies tariff gloom October 29, 2025 Shares in GSK climbed as much as three per cent to 1,705p on Wednesday morning as the pharma giant defied tariff fears with an upgrade to its profit guidance. The London-based business said it now expects turnover to increase by six to seven per cent for the full year 2025, up from its previous guidance [...]
FTSE 100 Live: Next sales jump; GSK profit upgrade October 29, 2025 Good morning from the City AM liveblog team. If there are fears about an AI bubble, no one’s telling the folk over on Wall Street. Yesterday both Apple and Microsoft saw their stocks jump, making them both $4tn companies, joining an exclusive club of which chipmaker Nvidia is the only other member. This was the [...]