Source: Sharecast
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Drugmaker GSK has struck an agreement with the US to cut the cost of prescription medicines for American patients, including its broad respiratory portfolio used by more than 40m people with conditions such as asthma and COPD. GSK said on Monday that the deal met all four actions requested by Donald Trump and will see it reduce prices for certain medicines within Medicaid and introduce new products using what it described as a more balanced pricing approach. GSK will also make most of its inhaled respiratory portfolio, along with other products, available through a direct purchasing platform offering savings of up to 66%.
British bookmaker Rank Group said its Spanish businesses had been hit by a payment fraud costing it €7.1m. Rank said it had reported the incident at the Enracha and Yo business to law enforcement agencies and was supporting investigations, as well as carrying out its own internal probe with the help of an external law firm. "Given the exceptional nature of this incident, Rank Group expects to treat the financial impact as a separately disclosed item in relation to its 2025/26 performance," the company said in a short statement on Monday.
Property investor LondonMetric has sold off a further £64.4m of retail assets, taking disposals over the year-to-date to over £280m. LondonMetric said it had decided to monetise two mature out-of-town assets – the Cantium retail park in South East London and a new M&S store in Weymouth – where it has completed its business plans. Separately, LondonMetric also acquired two warehouses let to Booker for £26.2m, in Doncaster and Southend-on-Sea.
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Several of the UK's big supermarkets have been forced to source turkeys from elsewhere in Europe to keep shelves stocked this Christmas, after avian flu curtailed UK production. Asda, Lidl and Morrisons are understood to be stocking branded turkey imported from mainland Europe – a move industry sources described as "unprecedented" – to "protect availability" and ensure sufficient supply for festive meals. – Guardian
UK manufacturers are to be hit with mountains of Brexit-style paperwork in January on £7bn worth of exports to the EU after the government failed to secure an expected exemption from new green taxes. The UK had hoped to secure a carve-out by Christmas on the carbon border adjustment mechanism, but EU commissioners have confirmed this is not going to happen. – Guardian
The number of graduate jobs advertised has almost halved in just a year after Rachel Reeves pushed up the cost of hiring younger workers. Vacancies for graduate roles in November plunged by 45% compared with the same month a year earlier, according to jobs site Adzuna. At the same time advertised entry-level vacancies, for those at the very start of their careers, dropped by one-quarter. Hiring for these roles is now at its lowest level since the pandemic lockdowns. – Telegraph
Christmas is a typically boozy time of year, as work office parties and prolonged time with extended family prompt many Britons to reach for a drink. But new data suggests this season may be a slightly more sober affair after alcohol consumption fell to a record low in Britain. The typical adult consumed 10 drinks per week on average last year, according to drinks data experts IWSR, down from a peak of 14 alcoholic beverages per week in 2003. – Telegraph
A subsidiary of one of the world's largest insurers was told by the City regulator it could not increase how many customers it had until it improved how it treated them. Axa Partners UK, which sells travel insurance, home emergency, and breakdown cover, and has about 6.5m policies in force, can be revealed as the unnamed insurer that the Financial Conduct Authority said last Thursday it had taken action against for poor performance. – The Times
Two of the world's largest technology companies have advised some employees not to travel outside the United States as President Trump's tightening of social media vetting raises the risk of significant delays. Google and Apple have told some workers on US work visas to avoid international travel as a result of delays in visa-stamping appointments at embassies and consulates, according to Business Insider. – The Times
US CLOSE
Major indices closed higher on Friday, with strong performances in the tech sector resulting in another surge on the Nasdaq, while the S&P 500 neared its record high.
At the close, the Dow Jones Industrial Average was up 0.38% at 48,134.89, while the S&P 500 advanced 0.88% to 6,834.50, and the Nasdaq Composite saw out the session 1.31% firmer at 23,307.62.
Reporting by Iain Gilbert at Sharecast.com