Impact of Trump Trade Deal on UK's Bioethanol Industry
The UK's bioethanol industry faces collapse due to the trade deal with Trump, leaving the government opting not to intervene. Soleno Therapeutics' shares drop as Scorpion Capital discloses a short position. A draft report from Trump's commission avoids a pesticide crackdown feared by the agricultural sector.
The UK government has decided against financially bailing out the beleaguered bioethanol industry, which is grappling with challenges from a trade agreement with former U.S. President Donald Trump. This decision places thousands of jobs at risk and could become a political obstacle for Prime Minister Keir Starmer, who previously praised the agreement as beneficial for business growth and employment protection.
Meanwhile, Scorpion Capital has publicly declared a short position in Soleno Therapeutics, citing concerns over its newly approved drug Vykat XR, intended to treat Prader-Willi syndrome. This announcement led to a 7.8% decline in Soleno's share value, following its March approval by the U.S. FDA.
In another unfolding story, drafts from the Trump administration's 'Make America Healthy Again' commission indicate no immediate tightening of pesticide regulations, despite health concerns associated with children's welfare. The report instead suggests focusing on promoting healthier diets and scrutinizing vaccines and prescription drugs.
(With inputs from agencies.)
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