Financial Titans Clash: Updates from Glencore to Novartis
The Financial Times covers major business stories: Glencore maintains its UK listing; Britain seeks clarity on China's embassy plans; Novartis considers acquiring biotech firm Avidity; Generali faces a crucial vote on Mediobanca; British doctors contemplate quitting in droves; Prince Harry's charity cleared of bullying claims.
Glencore, a global mining and trading giant, has confirmed its commitment to remain listed in London, discarding initial plans for a U.S. relocation. This decision stabilizes the company's anchored presence in the UK market.
In the diplomatic sphere, Britain's Deputy Prime Minister Angela Rayner is demanding transparency from China surrounding the latter's plans for an expansive new embassy in London, raising concerns over redacted sections of related documents.
Meanwhile, in the pharmaceuticals sector, Swiss company Novartis is eyeing a strategic acquisition of U.S.-based Avidity Biosciences, aiming to enhance its drug production pipeline. Additionally, Italy's insurance leader Generali is challenging Mediobanca's advances to acquire Banca Generali, while the UK's General Medical Council warns of a potential exodus of one in five doctors from the profession.
(With inputs from agencies.)
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