The boss of pharma firm Redx has scooped up hundreds of thousands of shares in the company after its share price collapsed on the news it would ditch its listing on the London Stock Exchange. According to filings on the London Stock Exchange, Lisa Anson, chief executive of Redx, has bought some 589,000 shares in the firm over the past two weeks, worth around £38,875. She now holds a stake of around 0.2 per cent in Redx, which has a market capitalisation of about £45m. Shares in Redx plunged 70 per cent at the start of April after the company revealed it would ditch its listing on the London S ..read more

The risk that the UK will face stubborn inflation pressures is diminishing fast, according to a member of the Bank of England’s rate-setting body, suggesting interest rate cuts might soon be on the way. Dave Ramsden, one of the nine Monetary Policy Committee (MPC) members, told an audience in Washington that he was now “more confident” that inflationary pressures were receding. “I was one of eight members who voted to hold Bank Rate at 5.25 per cent,” he said. “Over the last few months, I have become more confident in the evidence that risks to persistence in domestic inflation pressures are ..read more

The FA Cup is known for its David and Goliath contests although they are usually the preserve of the third and fourth rounds – not the semi-finals, like Sunday’s match between Coventry City and Manchester United. Coventry may be just one division lower than their illustrious opponents and have their own FA Cup pedigree, having lifted the trophy in 1987, back when they were a fixture in the top flight – but they and United are worlds apart in terms of financial resources.  The disparity reflects not only United’s huge commercial clout but also how the two clubs’ fortunes have diverged dra ..read more

London Tide at the Lyttelton Theatre: ★★★★ “Every writer of fiction, though he may not adopt the dramatic form, writes in effect for the stage,” Charles Dickens announced in 1858. In the case of his particular style of fiction – lengthy, originally serialised novels crammed with characters and complex plots – this is especially fitting.  But is it fitting to lob in avant garde blues punk? Well, yes, although Dickens would surely be a little aghast at this new adaptation of his last and least popular novel, Our Mutual Friend. It introduces the disquieting music of PJ Harvey to devastating ..read more

SHA TIN in Hong Kong is under threat again of possible rain and thunderstorms when racing gets underway with a mixed card of six turf and four all-weather contests, starting at 6.00am on Saturday. Adverse weather conditions have been a regular occurrence in the territory this season, causing dismay to form-book students, and it would be worth keeping a close eye on the sky before going the action begins. Supporters of HK Derby hero Massive Sovereign, who takes his chance against reigning champion Romantic Warrior in next Sunday’s Group One FWD QEII Cup, will be keeping a close eye on the resu ..read more

WHILE all the media attention has concentrated on trainers’ title contenders Pierre Ng and Francis Lui in recent weeks, 12-time champion John Size has become a forgotten man in the championship race. The ‘master trainer’ currently trails Ng by 13 wins, but with so much fire-power in his stable and 23 race-meetings of the season remaining, it would be folly to write off his chances of adding another title. Size sends nine raiders to the track, and plenty have winning chances, notably Noble Win in the opener, the Racing for Charity handicap (6.00am) over the extended mile on the all-weather sur ..read more

Billionaire Zuber Issa is close to completing talks to sell his £500m stake in Asda to its private equity backer, TDR Capital, according to reports. First reported by Bloomberg, Issa in the final stages of negotiations to offload his 22.5 per cent stake in the Leeds-headquartered supermarket giant. The potential deal would give TDR Capital a majority stake in the company and could be announced in the coming weeks. Asda was acquired from Walmart by brothers Zuber and Mohsin Issa in a £6.8bn deal three years ago with the backing of TDR Capital. The private equity firm is also heavily inves ..read more

Media stalwart Zillah Byng-Thorne said this morning that ad agency M&C Saatchi, which she now chairs, still had “much more to do.” The former head honcho at publishing giant Future was parachuted in as executive chair at M&C Saatchi last year, after former CEO Moray MacLennan ended a decades-long association with the firm. He will be replaced on a permanent basis by former channel 4 exec Zaid Al-Qassab next month, with Byng-Thorne dropping the ‘executive’ and heading to the boardroom full time. Profit fell during the last 12 months of last year,  as client marketing budgets were ..read more

Labour have set out plans for a housebuilding drive on so-called ‘grey belt’ land in an effort to address the housing crisis. Labour leader Sir Keir Starmer and deputy leader Angela Rayner unveiled the policy today on a visit to a housing estate in Derby. It comes as the party continues to flesh out its policy offer, including a commitment to build 1.5m homes over the next Parliament, ahead of a general election expected later this year. Starmer used last year’s party conference to promise to reform planning rules at speed, to “take on the blockers and back the dream of home ownership,” in a ..read more

Britain’s biggest supermarket, Tesco, has traded in line with raised expectations, posting a total operating profit of £2.8bn for the full year.  In a statement to markets on April 10, chief Ken Murphy thanked a slew of price cut schemes for the lift, which saw profit exceed the board’s expectations by £50m last year.  This content has been developed and generated by artificial intelligence. City A.M. is not responsible for the content contained within the video ..read more