BP has said it will review its investments in the North Sea after the government unveiled a windfall tax on oil and gas operators. The chancellor, Rishi Sunak, laid out plans on Thursday for a 25% tax increase to taxes on North Sea energy companies, in a move that is expected to raise £5bn. A sunset clause in the legislation means that Sunak’s “energy profits levy” will only be phased out when oil and gas prices return to historically more normal levels or by December 2025.
UK pharma giant GSK said China's National Medical Products Administration has approved a two-dose vaccine schedule for its Cervarix treatment in girls aged between 9 to 14 years for the prevention of cervical cancer.
Housebuilder Vistry has launched a £35. 0m share buyback programme as part of an effort to return surplus capital to investors and reduce the group's overall share capital.
Wall Street stocks closed well into positive territory on Thursday, as investors continued to digest minutes from the FOMC's latest meeting, a second GDP estimate, and a number of retail earnings.
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