April 23 - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
DRUGS STOCKS SOAR AS GLAXO BETS THE PHARMA ON NOVARTIS DEAL
A blizzard of deals in the pharmaceuticals industry sent drugs stocks flying as GlaxoSmithKline conducted a complex asset swap with Novartis, of Switzerland, and AstraZeneca shored up its defences against a possible American takeover.
JJB FRAUD TRIAL ABANDONED DUE TO SIR DAVID JONES’ ILL HEALTH
The fraud trial of the former executive chairman of JJB Sports has been ‘abandoned for the time being’, owing to his ill health.
VINCE CABLE TELLS TOP UK FIRMS: CRACK DOWN ON BONUSES OR FACE NEW LAWS Business secretary urges companies to rethink pay deals to regain public trust and move focus off short-term success.
TESCO LAUNCHES FRESH ROUND OF PRICE CUTS Market leader to also offer free click-and-collect grocery orders as it inches toward Asda’s “everyday low price” model.
QUINDELL SHARES CRASH 50 PCT ON DAMNING GOTHAM NOTE Insurance outsourcer Quindell’s shares plunge after Gotham Research calls it a “country club built on sand.”
Barclays will this week suffer a sizeable City rebellion over its decision to hike bonuses last year while simultaneously receiving overwhelming shareholder backing for its future pay plans. (Compiled by Karen Rebelo in Bangalore; Editing by Lisa Shumaker)