1 Hopes have been raised for men with prostate cancer after early results from an AstraZeneca drug trial beat expectations. The use of olaparib— Lynparza — alongside the existing cancer drug abiraterone can delay progress of cancer in men not responding to other treatments.
2 The Spirit of Innovation, a single-seat all-electric aircraft powered by 6,000 battery cells and motors developed by Rolls-Royce, will attempt to hit a record average air speed of more than 300mph — and build a new future for the British engineering group.
3 Petrofac has struck a plea deal with the Serious Fraud Office as it seeks to draw a line under an inquiry into suspected corruption. The agency said that the oil services group intended to plead guilty on Monday to seven charges of failing to prevent bribery in the Middle East.
4 Chris O’Shea, the boss of British Gas, the energy supplier, has executed a U-turn and admitted that “price regulation has helped the consumer” and has blamed smaller companies that are going bust for their own demise.
5 China has declared that all transactions in the country involving cryptocurrencies are “illegal”, dramatically escalating a crackdown on bitcoin and other digital money. Bitcoin, the world’s largest digital asset, dropped in value by almost 8 per cent.
6 Over the past decade industrial groups and experts argued for more gas storage to prevent supply shocks. Those warnings have fallen on deaf ears, with Britain’s reserves dwindling. Now, as a global gas shortage sends prices to record highs, this could be the winter those decisions come back to bite.
7 Draken International, a US defence contractor, is in dispute with residents of North Devon over claims that it is illegally using a private rural airstrip as a training ground for military helicopter pilots, some from foreign states.
8 Market concerns over the fate of Evergrande resurfaced as it emerged that the property developer’s offshore bondholders had failed to receive interest payments. Shares in the Chinese group slumped 11.6 per cent in Hong Kong and the FTSE 100 finished the week down.
9 Jerome Powell, chairman of the US Federal Reserve, has praised the “flexibility and ingenuity” of America’s smaller companies during the pandemic as the US central bank prepares to dial back its economic support, possibly in November.
10 The stock market flotation of Peel Hunt has valued the City stockbroker at £280 million and has raised more than £70 million for staff and backers who reduced their stakes. Yesterday’s initial public offering on Aim was priced at 228p a share and put 40 per cent of Peel Hunt stock in public hands.