Oil prices fell 6% to below $91 a barrel on Monday after the US paused strikes on Iran, easing fears of supply disruptions. Brent crude briefly dipped below $90 earlier in the morning. Last week, prices hit $100 after Iran-aligned Houthis attacked Saudi oil tankers in the Red Sea. Iran said it had stopped retaliatory attacks after two nights without American missiles.
AstraZeneca chief warns on innovation speed
Pascal Soriot, chief executive of AstraZeneca, urged western drugmakers to adopt 'Chinese speed' to avoid falling behind innovative rivals. 'We have to make sure we don't fall behind,' Soriot said. 'What we are learning ourselves is we have to move much faster. We always talk about Chinese speed in our company, and we want to operate in Chinese speed.'
DCC Energy agrees £5.7bn private equity takeover
One of the largest energy firms on the London Stock Exchange, DCC Energy, has agreed a £5.7bn takeover by US private equity groups KKR and Energy Capital Partners. The board recommended the offer despite misgivings from its founder and biggest shareholders. The deal adds to a growing exodus of UK-listed companies being taken private.
