A former chief executive of Barclays has secured a £40m capital injection for the banking technology platform he launched a decade ago.
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Former Barclays chief Jenkins raises £40m for tech platform 10x BankingSky News Business
The Anglo-Swedish drugmaker’s flirtation with a grand combo with US group Bristol Myers Squibb is baffling • AstraZeneca shares fall 8.9% over merger talks with US cancer drug firm Sir Pascal Soriot, chief executive of AstraZeneca, starts with huge credit in the bank, obviously. His long tenure has been a triumph, starting with the against-the-odds victory over Pfizer’s charmless accountants in 2014. The $39bn (£29bn) purchase of Alexion in 2021 looked a little over-priced at the time, but you could see how it sat well with Soriot’s sermons on the importance of backing science. The deal got AZ into the field of medicines for rare diseases, which should offer decades of growth. Continue reading...
The former department store closed in 2016.
Rolling coverage of the latest economic and financial news The yen has hit its highest level in three months after Japan and the US launched a combined operation to support the Japanese currency. The yen strengthened to ¥155 to the US dollar on Monday, its highest level since early May, after Tokyo and Washington confirmed they had carried out a rare joint currency intervention late last week. They have a weakening yen, and they wanted a little bit of help. And we’re always there for Japan.” We expect the sector to endure a difficult period in the latter half of this year. The conflict in the Middle East is the key wildcard, but the breakdown of the ceasefire has led to a resurgence in both oil and gas prices and increased business uncertainty. Higher energy prices will filter through into higher business costs while demand will be hit by the squeeze on disposable incomes from rising inflation and weakening wage growth. Output price inflation cooled to a four-month low in July, with manufactures noting that an easing of supply chain tensions had slowed the rise in input costs. However, just as with the wider economy, we anticipate that this relief will be temporary. The impact of the recent rise in oil and gas prices, along with indirect effects of higher energy costs, will push up goods prices, although the inflation outlook is highly dependent on the situation in the Middle East.” Continue reading...