Glaxo claiming lead over Gilead in HIV drug race
Brentford-based pharmaceutical company GlaxoSmithKline is touting a significant step forward in their race to develop an HIV medication with increased results and lower side-effects. The race is contested between Glaxo and rival company Gilead to see which company can take the lead in the HIV drug market, worth around £20 billion. Gilead has had the […]
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Tesco pulling big brands from shelves as part of “Project Reset”
The UK’s largest supermarket is making radical changes in their ranging, as thousands of well-known brands disappear from the shelves. The move is part of an initiative dubbed “Project Reset”. Beginning in 2015, it entails an attempt by Tesco to streamline their brand choices. With the market dominated more and more by discount retailers such […]
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Lloyds face questions with release of HBOS report
An internal report published this week has raised significant questions for Lloyds’ banking group over their handling of their HBOS Reading unit. The report, written in 2013, was initiated by a former Lloyds manager and backed by the group, looked into Lloyds’ knowledge and handling of fraud in the Reading branch. The fraud scandal came […]
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“Difficult times” ahead as Debenhams issues profit warning
Debenhams shares dropped almost 20 percent at one point today, as the retailer announced a third profit warning this year. Citing an increase in discounting from competitors along with weak market conditions, the company said that trading in May and June so far has been below plan, despite modest comparisons from the same period last […]
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McCarthy & Stone CEO stepping down amid profit warning
Retirement housebuilder McCarthy & Stone CEO announced he is walking away from the company this year, as the company’s shares fell after it issued a profit warning. Declining reservation rates have lead to a revised profit forecast of between £65 million and £85 million, a drop from the £96 million recorded last year and the […]
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Amazon shareholders pressure company to stop sale of facial recognition tech
A number of Amazon’s shareholders have voiced concern over the company’s facial recognition technology. The group penned a letter to CEO Jeff Bezos, asking the company to stop sales of the tool called “Rekognition” to police and government organisations. The pressure comes after a report from the American Civil Liberties Union (ACLU) earlier this year, […]
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Energy regulator tightening checks on new companies
Energy watchdog Ofgem is planning changes that will make it tougher for smaller companies to enter the market. The regulator cites issues for consumers in a review into their licensing procedures, identifying that smaller companies bring a lack of financial stability, and risk providing poor customer service and unsustainable business models, leading to some customers […]
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Property prices in Scotland surging to record levels
New research is showing significant growth in the Scottish property, increasing at the fastest since 2015. According to a report from The Property Monitor, the nation’s average house price sits at £166,075, a 7 percent increase from January to March – the largest jump since the beginning of 2015. The figure was up around £11,000 […]
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Pressure from climate change groups around new Heathrow runway
The government’s support for a third runway at Heathrow airport is coming under scrutiny from leading environmental groups. While parliament has come out and backed the airport’s expansion plans, the groups are concerned about potential climate change implications, as increased traffic likely brings increased greenhouse gas emissions. Government advisory group the Committee on Climate Change, […]
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Ryanair set to open new base at Southend Airport
Budget airline Ryanair have announced plans to launch a brand new base at London Southend Airport in Essex. The £225m base, which will open in April 2019, will feature three new aircraft and add almost 60 flights per week. The destinations feature eight countries and 13 cities altogether, including Barcelona, Venice, Malaga and Dublin. “We […]
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