Headlines - UK manufacturers urge ministers to draw up an industrial strategy - UK energy suppliers urged to renegotiate costly contracts with small businesses - UK biotech startup Ascent raises $130 million - UK inflation holds back demand as consumers spend more on less
Overview - UK's manufacturers have appealed to the government to draw up an industrial strategy, saying that the lack of a long-term plan is holding back growth and damaging UK's competitiveness.
- A trade body has said that energy suppliers and smaller business in the UK should renegotiate their fixed contracts to reflect the drop in wholesale prices in recent months.
- Biotech group Ascend has raised $130 million to buy manufacturing facilities and expert teams from cash-strapped cell and gene therapy startups in the sector. - British consumer spending grew at around half the pace of inflation as increasing prices reduced demand, a British Retail Consortium survey showed on Tuesday.
(Compiled by Bengaluru newsroom)
