GlaxoSmithKline has dropped plans to sell part of its HIV drugs unit and promised to hold its dividend steady for the next three years as the struggling UK pharmaceuticals group set out its strategy to revive growth.
(Noon): The FTSE 100 remains mixed at midday but shares in Sainsbury's fell 4.2% after reporting its first full-year loss for 10 years.
The pound rebounded a day ahead of the UK election after data revealed Britain's huge service sector picked up speed in April, countering signs that the economy has been slowing of late.
(Adds executive, analyst comments, share activity). By Martinne Geller. LONDON May 6 (Reuters) - Britain's Imperial Tobacco Group reported a slight acceleration in revenue on Wednesday as consumer spending picked up in some markets.
Discount chain Poundland has said it will enter into detailed talks with the competition watchdog in a bid to save its �55 million takeover of rival 99p Stores.