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AstraZeneca slips on talk of possible £7bn bid for US cancer specialist

AstraZeneca has slipped back following weekend reports it was considering a £7bn bid for San Francisco cancer treatment specialist Medivation. The US company has already rejected an approach from France’s Sanofi, and is said to have hired advisers to help fend off any hostile move. Analysts believe there is likely to be interest from other pharmaceutical businesses, withAstraZeneca just one ... Read More »

India world’s largest recipient of remittances in 2015: World Bank

India remained the world’s largest recipient of remittancesfrom abroad in 2015, despite a $1 billion drop from the previous year, the first such decline since 2009, the World Bank said on Thursday. It attributed the decline to the impact of falling oil prices on remittances from the Gulf countries and depreciation of major sending country currencies. In 2015, the country ... Read More »

Aldi scraps name of ‘rape yellow’ paint after complaints from sexual assault victim

Aldi has changed the name of one of its paint colours after a sexual assault victim said it made her choke. “Rape yellow” paint caused an Aldi woman to become “furious and upset” when she saw it in a store in Coventry. The customer, who cannot be named for legal reasons, told theCoventry Telegraph: “I looked at the paint and thought it can’t ... Read More »

5 charts that show the UK economy is in the middle of a ‘lost decade’

The damage wrought by the financial crisis on the UK economy has been immense – and bigger than just about anyone feared seven years ago. Previous recessions in the 1990s, the 1980s and the 1970s were followed by periods of relatively rapid above-trend growth as the natural resilience of the economy kicked in. But not this time. In almost every ... Read More »

The map that shows which companies are worth more than the stock markets of entire countries

Netflix is worth around $40 billion, McDonald’s is worth $109 billion and Google and Amazon combined are worth $747 biliion. You may already know that these companies are worth billions, but it can be hard to give context to such big sums. But Bank of America Merrill Lynch has come up with a solution to illustrate exactly what the value ... Read More »

Royal Bank of Scotland pays back £1.2bn to the Treasury

Edinburgh-based bank makes payment to government under scheme agreed in 2009 George Osborne is hoping to generate £25bn of revenue from the sale of RBS shares in this parliament. Photograph: John Keeble/Getty Images Royal Bank of Scotland is paying £1.2bn to the Treasury to buy out a crucial part of its £45bn bailout in a step towards returning the bank ... Read More »

ANZ’s bad loans to miners are just ‘tip of the iceberg’, analysts say

Bank says writedowns have risen $100m to $900m in a month thanks to commodity prices but analysts point to a crisis for coal industry ANZ increased its projected costs associated with lending to the mining and resources industries from $800m to $900m. Photograph: Greg Wood/AFP/Getty Images An announcement today that ANZ is absorbing a bigger than expected loss as a ... Read More »

Two-thirds of banks fear Brexit, according to UK industry poll

British Bankers Association says more than 60% of respondents to its survey said they would be significantly worse off if Britain left the European Union Seventy-four banks responded to the BBA’s survey on EU membership. Photograph: Dan Kitwood/Getty Images The majority of banks operating in Britain said they think they would be worse off if the UK leaves the European ... Read More »

Bernard Hogan-Howe is wrong: victims of online fraud are not to blame

The Met police chief’s suggestion that victims of online fraud should no longer be refunded by banks was an astonishing misjudgment. Sir Bernard Hogan-Howe’s talk of careless customers being “rewarded for bad behaviour” ignores a far greater problem with online security. When Which? investigated last year, we found that too often banks were dragging their feet when dealing with cases ... Read More »

EU referendum: 250 business leaders sign up as backers of Vote Leave

Ex-HSBC boss, Wetherspoons chairman and Carphone Warehouse co-founder among those wanted to leave the EU A group of 250 business leaders, including the former boss of HSBC, have added their voice to the Brexit campaign, saying that EU membership harms the UK’s economic prospects. The Vote Leave campaign said the list of business people showed that while many of Britain’s ... Read More »