Sweeping job cuts at GSK to fund £400m Cambridge campus Pharma GSK is poised to slash its back office headcount to help fund a £400m mega-campus in Cambridge, in a move it hopes will bolster its drugs pipeline anFd stave off a looming patent cliff-edge. In his first major update as chief executive, Luke Miels unveiled plans to find £1.9bn of savings over the next three [...]
As it happened: Stocks jump as oil drops; Unilever shares soar on decade-best sales Markets Welcome back to the Morning Wire FTSE 100 liveblog. It’s Tuesday and the UK’s blue-chip index has made strong gains following a peaky start to the day. The markets took a boost yesterday after oil dropped back after reaching two-month highs of more than $100 per barrel last week when the Iran backed-Houthis took responsibility for tanker [...]
Podcast: Palantir to sue Sadiq Khan, GSK’s $10bn mega-deal, and could the World Cup rescue pubs? Podcast In today’s episode of Morning Wire’s Business As Usual podcast, we get stuck in the top stories of the day – from a major pharma M&A deal to a US software giant poised to take legal action against the Mayor of London. City Editor Simon Hunt gives his round up of major markets stories, as Pharma giant [...]
GSK says AI is reshaping drug pipeline as Nuvalent deal hits shares June 9, 2026 GSK has said agentic AI is already affecting every asset in its pipeline, as pharmaceutical firms race to use the technology to cut the cost and risk of developing new medicines. Speaking at London Tech Week in Tuesday, Eyal Itskovits, GSK’s director of AI and machine learning, said that the technology has officially become a [...]
GSK shares slip after buying US cancer treatment firm Nuvalent for $10.6bn June 9, 2026 Pharma giant GSK has sealed a $10bn deal to snap up Boston-based biopharmaceutical company Nuvalent. The FTSE 100 titan said it will pay $124 per share in cash in the agreement, marking a 40 per cent premium over what Nuvalent’s stock was trading at just before this announcement. The deal is expected to officially close [...]
Astrazeneca ploughs £300m into UK in surprise U-turn April 29, 2026 British drugs giant Astrazeneca has promised to plough £300m into its UK operations, just months after cancelling a nine-figure investment in a new lab after getting in a spat with the UK government over drug pricing. In a stunning volte-face, the UK’s largest pharmaceutical company said it would revive its £200m investment into a megalab [...]
FTSE 100 Live: Stocks drop as oil holds firm over $110; UK growth slashed April 29, 2026 Good morning and welcome back to the Morning Wire liveblog. Oil prices are holding firm tipping over the $110 mark, bringing the cost of a barrel closer to the highs of $118 it peaked at earlier in the Iran war. Brent crude – the international benchmark for oil – advanced another one per cent on [...]
Global Counsel to be placed into administration February 19, 2026 Global Counsel’s 130 staff have been informed that the lobbying company founded by Peter Mandelson will be placed into administration as soon as tomorrow. Morning Wire understands that despite a number of clients deciding to stay with the firm, the loss of business following the former US ambassador’s fall from grace has been substantial. A [...]
Global Counsel loses more clients as Epstein scandal deepens February 11, 2026 The crisis engulfing the lobbying firm founded by Peter Mandelson, Global Counsel, deepened on Tuesday, after three more of its blue-chip clients parted ways with the advisory over its links to co-founder Mandelson and the convicted sex trafficker Jeffrey Epstein. Morning Wire understands that pensions giant Phoenix, Tesco and Bank of America have all severed [...]
GSK to acquire US biotech group for $2.2bn January 20, 2026 FTSE 100 giant GSK has reached an agreement to acquire US based biotech group Rapt Therapeutics. The deal values the company, which develops therapies for treating people with inflammatory and immunologic diseases, at $2.2bn (£1.6bn), and marks the first major deal for new GSK chief executive Luke Miels, coming just weeks after he took charge [...]