1 Pfizer and Flynn Pharma, a British distributor, have been accused of exploiting a loophole to increase the price to the NHS of an epilepsy drug by 2,600 per cent. The Competition and Markets Authority ruled on the case in 2016, but now has reinvestigated and issued new findings.
2 Two in three demands issued by HM Revenue & Customs for not paying the correct amount or for a fine after late filing are overturned on appeal. More than 10,000 people challenged HMRC in the last financial year and in only 3,475 cases was the taxman’s demand upheld.
3 Fear of inflation has caused the Bank of England to call an end to its pandemic stimulus. Amid claims that its monetary policy committee was complacent, it declared that “some modest tightening of monetary policy is likely to be necessary” — although interest rates will remain unaltered this year.
4 Amazon has put back its plans to recall staff to the office in the face of the resurgent Delta variant of the coronavirus. The giant retail group had intended to recall its American workers next month; now corporate staff will largely continue to work from home until January.
5 Mike Ashley has announced his succession plans, with Michael Murray, 31, his daughter’s fiancé, taking the reins at Frasers Group next year. He faces a tough task: profits have slumped by 94 per cent.
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6 The post-lockdown boom in construction has been slowed by the pingdemic as “shrinking sub-contractor availability”, matched with shortages of building materials, meant expansion of the sector grew at its weakest pace since February.
7 The less-than-stellar reopening of international travel has weighed heavily on Rolls-Royce, which said that it would miss a target to deliver £750 million in free cashflow next year. It did return to profit, turning around a loss of £1.63 billion to a profit of £307 million in the first half of the year.
8 London will be hit most by the lack of foreign tourists because of pandemic restrictions as overseas travellers stay away and domestic holidaymakers prefer country and seaside breaks to taking in the sights of the capital.
9 Hammerson plans to reposition its urban shopping centres to as little as 50 per cent retail space. The remaining units will be given over to homes, hotels and workspaces, the commercial landlord said.
10 Booming commodities prices, from metals to oil, have lifted profits at Glencore and investors are set to benefit, with an additional $1.2 billion returned to them, on top of the $1.6 billion payday already announced.