The British business pages are buzzing with a variety of stories covering a range of topics from pharmaceutical sales agreements to tax cuts and real estate.
In the pharmaceutical industry, news broke that the body representing Britain’s pharmaceutical industry has reached an NHS branded sales agreement with the government. This 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 has warned that UK interest rates will need to stay high for some time despite a sharp fall in the annual inflation rate.
Rishi Sunak, Prime Minister of UK is hinting at potential business tax cuts to boost economic growth, promising to reduce the tax burden “carefully and sustainably” and “over time”. In real estate, EY is in talks to abandon its London headquarters as working from home continues to transform professional life. Additionally, the founder of Cazoo, an online car seller may see his shareholding in the company almost wiped out as bondholders take control.
In media industry, former boss of media regulator Ofcom 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 CEO states that his top priority along with Microsoft Chief Executive Satya Nadella is to ensure that OpenAI continues to thrive.