Financial Times - Oct 18
Oct 18 (Reuters) -The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
Headlines
- EY slims workforce for first time in 14 years
- Sanofi joins rivals investing in nuclear cancer treatment
- EU considers including Elon Musk's business empire to calculate potential X fine
- UK plans to place 'buy now, pay later' lenders under FCA rules
- UK explores plans for new rail line as alternative to axed HS2 northern leg
Overview
- Accounting firm Ernst & Young (EY) trimmed its global workforce in the past year as a slowdown in demand for its consulting services led the Big Four firm to post its weakest revenue growth since 2010.
- French drugmaker Sanofi SASY.PA has struck a deal in the hotly competitive radiopharmaceuticals sector, buying a $300 million stake in OranoMed, a subsidiary of French nuclear fuel company Orano, that is developing a new cancer treatment.
- Elon Musk could face a hefty fine as the European Commission look at including revenues from the billionaire's business empire to calculate a potential fine against social media platform X.
- The UK government has launched a highly anticipated consultation to bring "buy now, pay later" lenders under the scrutiny of the Financial Conduct Authority and the Consumer Credit Act.
- The UK government is exploring proposals for a Birmingham to Manchester railway line as an alternative to the axed northern leg of HS2 high-speed rail network.
(Compiled by Bengaluru newsroom)
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