UK Business News

Aspen seeks to acquire GSK thrombosis drug and plant

DURBAN / LONDON - South Africa's biggest generic drug maker Aspen Pharmacare and its subsidiary Aspen Global Incorporated have made an offer to acquire thrombosis drugs and their associated manufacturing site at Notre Dame de Bondeville, France, from GlaxoSmithKline (GSK). "AGI will acquire from GSK the Arixtra and Fraxiparine/Fraxodi brands and business worldwide, except in China, Pakistan ...
UK inflation rises to 2.7pc in May pushed by higher transport cost

LONDON - The consumer price index (CPI) inflation increased to 2.7% in May, up from 2.4% in April, mainly due to higher fuel costs pushing up transportation costs particularly airfares, the Office for National Statistics (ONS) said Tuesday. The ONS said the rise was due to a record increase in airfares and higher fuel prices. "The inflation rate has returned to the levels seen between ...
Mali Officials Tuareg Rebels Sign Accord

Mali's government has signed a deal with Tuareg rebels that will allow the army to return to a key rebel-held city ahead of next month's elections. The deal was signed Tuesday in Burkina Faso's capital, Ouagadougou, in the presence of Burkinabe President Blaise Compaore, who served as mediator. Tuareg group MNLA currently occupies the city of Kidal, the only major population ...
British banking needs radical overhaul study

LONDON (AFP) - Britain needs a "radical" overhaul of its scandal-hit banks, with reckless bankers facing jail and bonuses deferred for up to ten years, a government commission set up after the Libor scandal proposed in a final report on Wednesday.The Parliamentary Commission on Banking Standards, which is mostly composed of lawmakers, concluded that senior bankers must be made ...
Shell uses sabotage claims to avoid blame for Nigeria oil spills

Shell's persistent claims that theft and sabotage are responsible for almost all the oil spills at its operation in Nigeria could have been exaggerated, an international watchdog has ...

Movie Review

Fanfan la Tulipe [DVD]

Although largely unknown west of the Atlantic Ocean, Fanfan la Tulipe is a beloved character in France whose origins date back to jovial folk songs of the mid-18th century about a French soldier who defeated the British army. Fanfan made his way through the various media of his d ... ...

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Lord Bilimoria The world loves British goods. Its time to put some fizz in our exports

Going back to my childhood in India, the mark of "Made in Great Britain" as a guarantee of quality resonates strongly, and as a nation the UK is still capable of producing world-class products to export - such as Jaguar and Land Rover cars, sought after across the world, from the USA to China and India. Without taking away from London's status as the international finance ...
We were not leaned on over branch sale says Lloyds

The bosses of Lloyds Banking Group have denied that they were told by politicians to favour the sale of more than 600 branches to the Co-op over rival ...
Bosses of collapsed banks should be sent to jail Chancellor told

Britain's banking bosses should face jail if their decisions force fresh bailouts, the Parliamentary Commission on Banking Standards says ...
US pullout is drag on Chemring

Chemring, the maker of systems that help the army detect and safely blow up roadside bombs, has slipped into the red as the US withdraws from ...
Costa sets up a flying start at Whitbread

Whitbread has got off to a "flying start" in the new financial year, according to the chief executive of Britain's biggest hotel and restaurant group, Andy ...

More UK Business News

Did I hear right?

Our nuclear programmes are completely transparent. But we are ready to show greater transparency and make clear for the whole world that the steps of the Islamic Republic of Iran are completely within international frameworks. The sanctions are unfair, the Iranian people are suffering, and our (nuclear) activities are legal. These sanctions are illegal and only benefit Israel.

Hassan Rouhani

Iran's president-elect was speaking after his historic election victory.

Hotel Review

Thistle Charing Cross

I had stayed at this hotel once before, some years previous, so was looking forward to a new review. The ...

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No breakthrough in talks between UK and Ecuador over Assange

LONDON - Talks between the United Kingdom and Ecuador have ended without any breakthrough over WikiLeaks founder Julian Assange's fate with the Andean nation.

Ecquador said it was vowing not to succumb to diplomatic pressure and was ready to consider any request from Edward Snowden, another whistleblower, for asylum.

As the fugitive anti-secrecy advocate marks one year holed up in the London embassy of Ecuador, Foreign minister Ricardo Patino said the situation regarding him is "totally unjust" following the breakdown of talks with his British counterpart William Hague.

The British Foreign Office in London said "no substantive progress" had been made during the discussions

A Foreign Office spokesman said that the two ministers agreed that officials should establish a working group to find a diplomatic solution.

"The foreign secretary was clear once again that any resolution would need to be within the laws of the United Kingdom," the spokesman said.

As the two sides refused to budge from their stated positions, Patino said his government and Assange himself were prepared for a long haul before the WikiLeaks founder is allowed to leave the embassy and fly to Quito for asylum. ...