GSK steps closer to new drug milestone but R&D woes ruffle investor feathers October 31, 2022 British pharmaceutical giant GlaxoSmithKline (GSK) grew a step closer to securing its first drug approval since the split from its consumer health unit Haleon in July, but concerns over its share price remain. The US Food and Drug Administration (FDA) Cardiovascular and Renal Drugs Advisory Committee (CRDAC) have agreed that the benefit of GSK’s Daprodustat, used [...]
Slaughter and May lets lawyers clock out of emails from 10pm to 8am October 30, 2022 Magic Circle law firm Slaughter and May is set to let its lawyers log out of their emails after 10pm in a bid to prevent “unnecessary incursions” on its employees’ work-life balances. However, lawyers at the elite London firm must still be “reachable by phone” and may still be required to check emails past 10pm [...]
London keeps green finance top spot despite stiff US and European competition October 30, 2022 London has retained its crown as the greenest finance centre in the world, exclusive research shared with City A.M. has revealed. The Square Mile shook off challenges from New York, Amsterdam and Paris to keep the top spot on Z/Yen Group’s latest green finance index. The capital’s radip adoption of green finance products such as [...]
AJ Bell: Getting young people to invest isn’t easy amid cost-of-living crisis October 30, 2022 ENCOURAGING younger people to invest their hard-earned cash is not easy in the current economic climate, the chief executive of AJ Bell has said, adding that the recent launch of its investment app Dodl, which is aimed at younger investors, took place at a less than ideal time. Younger generations are seeing a “real squeeze” [...]
UK government urged to provide clarity on ‘no win, no fee’ lawsuit deals October 30, 2022 The UK government should provide clarity on “no win, no fee” lawsuit pay agreements, the Law Society of England and Wales has said. The solicitor’s trade body’s call comes after the Court of Appeals ruled in favour of personal injury lawyers CAM Legal Services, over fees it charged in a “no win, no fee” claim. [...]
Difficult decision to come from Sunak and Hunt on bank surcharge October 30, 2022 The government has not ruled out reversing a tax cut on the UK’s biggest banks as it scrambles to overfill a huge hole in the public finances. Asked today by City A.M. if chancellor Jeremy Hunt and prime minister Rishi Sunak would commit to cutting the bank surcharge, an effective windfall tax, the Treasury said [...]
NHS Trusts back out of working with Bupa over unpaid medical bills October 30, 2022 At least two NHS Trusts have reportedly backed out of working with medical insurer Bupa over claims of unpaid bills. The Royal Surrey NHS Foundation Trust has called in lawyers and is threatening court action over £400,000 worth of private patient’s medical bills, which have gone unpaid, The Sunday Times first reported. Oxford University Hospitals [...]
Airbus warns of ‘material adverse impact’ from Qatar Airways lawsuit October 30, 2022 Plane manufacturer Airbus has warned investors it faces “material adverse impact” as the result of an ongoing court battle with Qatar Airways, over the Qatari airline’s claims it was forced to ground multiple aircraft due to an underlying “design defect” in Airbus’ planes. In a financial statement, Airbus said Qatar Airways’ lawsuit could have an [...]
Revolut chief Nikolay Storonsky renounces Russian citizenship October 30, 2022 The head of London fintech giant Revolut has renounced his Russian citizenship amid the Ukrainian government’s decision to sanction his Ukrainian born father over his position at Gazprom’s research arm. Revolut co-founder Nikolay Storonsky Jr previously held both British and Russian passports, but renounced his Russian citizenship in response to the country’s invasion of Ukraine, [...]
Twitter C-suite overhaul, job cuts and a content council: Elon Musk’s first moves as new owner October 30, 2022 Twitter’s new owner Elon Musk has reportedly fired a string of top executives “for cause”, in a bid to avoid paying out lofty severance packages after finally completing a $44bn takeover. The weekend layoffs included Twitter chief executive Parag Agrawal, chief financial officer Ned Segal and legal affairs and policy chief Vijaya Gadde, Reuters reported, [...]
