Business news live: Another pharma firm criticises UK, Spanish energy company to invest €20bn in Britain – UK Times

Weight-loss drug manufacturer Eli Lilly has taken aim at the government, claiming the UK is “probably the worst country in Europe” for medicine pricing.

Dave Ricks, chief executive of the firm that makes Mounjaro, told the Financial Times that the UK pays less than other nations for its products and added, “unless that changes, I don’t think they will see many new medicines and I don’t think they will see much investment”.

One of the world’s biggest energy businesses, Iberdrola, plans to invest €20bn in the UK across the next three years.

Executive chair Ignacio Galan said the UK had “predictability and stability” in the sector and that regulator Ofgem had improved the attractiveness of investing in the region over the last five years

A total of €58bn between the Spanish company and investing partners will be spent on networks across the globe, with two-thirds of that split between the UK and US.

Iberdrola owns Electricity North West and Scottish Power in the UK among other assets.

Rachel Reeves has said the UK is getting “ahead in the global race for investment” as Revolut unveiled plans to plug £3 billion into its expansion in the country.

The Chancellor welcomed the pledge at the opening of the financial firm’s new head office in London’s Canary Wharf.

It follows major US financial firms last week announcing billions of pounds worth of investment into jobs and growth in the UK.

Ms Reeves said: “The UK is well and truly open for business under this Government.”

A bit of a boost for the London Stock Exchange today, with the business group behind beauty gadgets reportedly used by a bunch of celebrities set to IPO in October.

The listing should see the Beauty Tech Group set to be valued at up to £320 million, with shares for the IPO priced at 251p to 291p each.

Not a massive addition in market cap terms but still a notable business joining the ranks.

The Beauty Tech Group owns brands CurrentBody, ZIIP Beauty and Tria Laser.

It plans to launch the IPO in October to “position the group for the next stage of its development”.

Fancy a pint with your steak bake? Well, from this weekend, that dream is set to become a reality as Greggs prepares to open its first ever pub this weekend.

More known for sausage rolls than serving pints, the British firm have revamped one area of a prominent department store to serve up exclusive beers and a Greggs-inspired menu.

If you want a slice of the action though, you will need to head to Newcastle – The Golden Flake Tavern is located at the Fenwick shop in Eldon Square.

The FTSE 100 is down 0.34 per cent in early morning trading, after a low-key – and mixed – overnight session in the US and Asia.

Donald Trump wading back into the Ukraine war has some on edge, given energy and oil factors in the region, with the US president suggesting Russia are in “big economic trouble”, complete with a few misplaced capital letters.

However, not every UK firm is in the red today – around 30 are in the green.

Chief among them is JD Sports, with the footwear retailer up 3.1 per cent after its morning financial report.

Morning all. Oodles of business news to get through this morning.

Coming up – Revolut, Eli Lilly, Iberdrola, Greggs, JD Sports and more.