November 21 (Reuters) – The leading stories on the business pages of British newspapers span a wide range of topics, from pharmaceutical sales agreements to tax cuts and real estate.
The pharmaceutical industry in Britain has reached a deal with the government to sell NHS-branded medicines, following months of disputes and warnings that the country’s key growth sector was losing ground internationally. Meanwhile, Rishi Sunak, the boss of Boodles, a luxury jewelry designer and retailer, has accused Sunak of scrapping VAT-free shopping for foreign tourists, calling it a “spectacular own goal.”
In finance, Bank of England Governor Andrew Bailey has warned that UK interest rates will need to stay high despite a sharp fall in annual inflation. Additionally, 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.
Turning to real estate, EY is reportedly considering abandoning its London headquarters as working from home continues to transform professional life. Moreover, the founder of Cazoo may see his shareholding in the company almost wiped out as bondholders take control. In the media industry, the former boss of Ofcom is acting as a secret lobbyist for RedBird IMI, which is in advanced talks to take control of The Daily Telegraph. Lastly, OpenAI’s ousted boss and Microsoft CEO Satya Nadella have stated that their top priority is ensuring that OpenAI continues to thrive.