LONDON FTSE 100 index advanced on Wednesday, with Hikma Pharmaceuticals leading the market higher on positive broker comments and GlaxoSmithKline gaining after reporting a lower-than-expected fall in quarterly earnings.
GlaxoSmithKline's sales in China fell 14% in the latest quarter. Photograph: Peter Parks/AFP/Getty Images. Julia Kollewe. Wednesday 29 July 2015 11.03 EDT Last modified on Wednesday 29 July 2015 12.40 EDT.
LONDON New Bank of England policymaker Gertjan Vlieghe will retain a financial interest in one of the world's biggest hedge fund firms while he sets interest rates, an arrangement which Britain's finance ministry said posed no conflict of interest.
A surge in overdraft repayments by larger companies pushed down sharply the value of outstanding loans to non-financial businesses in June.
Banks are failing to improve their oversight of market benchmarks, despite the nearly $20bn of fines levied on lenders over the Libor and foreign-exchange rigging scandals, the UK's financial watchdog said on Wednesday.