• Wed. Nov 29th, 2023

British Business News and Updates for November 21st


Nov 21, 2023

November 21st – According to Reuters, the business pages of British newspapers cover a wide range of topics including pharmaceutical sales agreements, tax cuts, real estate and more.

A major breakthrough has been made in the pharmaceutical industry with the signing of an NHS branded sales agreement by the body representing Britain’s pharmaceutical sector. This follows months of disputes and warnings that the country’s key growth sector was losing ground internationally.

Meanwhile, in the realm of finance, Bank of England governor Andrew Bailey has warned that UK interest rates will need to stay high for some time despite a sharp fall in annual inflation rate. On the other hand, Prime Minister Rishi Sunak has hinted at potential business tax cuts to boost economic growth, promising to reduce the tax burden “carefully and sustainably” over time.

In terms of real estate, EY is reportedly in talks to abandon its London headquarters as working from home continues to transform professional life. Meanwhile, Cazoo founder may see his shareholding almost wiped out as bondholders take control. In addition, RedBird IMI is being secretly lobbied for by the former boss of media regulator Ofcom as they are in advanced talks to take control of The Daily Telegraph. Lastly, OpenAI CEO Sam Harris and Microsoft Chief Executive Satya Nadella have stated that their top priority is ensuring OpenAI continues to thrive after OpenAI CEO was ousted recently.

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