AstraZeneca is making a bigger push into the weight-loss drug market, striking an exclusive licence agreement with a Chinese company for an obesity and type 2 diabetes pill that is in early stage development. Britain’s biggest drugmaker said it had agreed a deal with Eccogene, based in Shanghai, for an experimental drug named ECC5004 that would also treat other cardiometabolic conditions such as heart disease and stroke. It is in phase 1 development but AstraZeneca hopes it will enter phase 2 clinical studies by the end of next year. If…
Tag: UK news
China tells UK to stop using trade to improve Taiwan ties
China’s government has accused the UK of using trade cooperation “as an excuse” to enhance its ties with Taiwan, after the announcement of a bilateral trade talks agreement. On Wednesday Taiwan’s representative to the UK, Kelly Hsieh, and his British counterpart based in Taipei, John Dennis, signed an enhanced trade partnership (ETP). The agreement paves the way for future talks on green energy, digital trade and investment, among other trade-based issues. The UK is Taiwan’s third-biggest trading partner in Europe and 21st largest overall. “The arrangement will take our trade…
The great powers signed up to Sunak’s AI summit – while jostling for position
Sitting in a purpose-built hut in the grounds of the historic Bletchley Park country estate, British officials believed they had pulled off a diplomatic coup. On stage in front of them was the UK’s technology secretary, Michelle Donelan, and behind her were high-level representatives from the US and China, together for the first time to discuss the international regulation of artificial intelligence. Even better, both countries were among 28 signatories to the “Bletchley declaration”,an agreement to work together on safety standards that may prevent AI systems turning on humanity. Rishi…
UK, US, EU and China sign declaration of AI’s ‘catastrophic’ danger
The UK, US, EU and China have all agreed that artificial intelligence poses a potentially catastrophic risk to humanity, in the first international declaration to deal with the fast-emerging technology. Twenty-eight governments signed up to the so-called Bletchley declaration on the first day of the AI safety summit, hosted by the British government. The countries agreed to work together on AI safety research, even amid signs that the US and UK are competing to take the lead over developing new regulations. Rishi Sunak welcomed the declaration, calling it “quite incredible”…
Banks pumped more than $150bn in to companies running ‘carbon bomb’ projects in 2022
Banks pumped more than $150bn last year into companies whose giant “carbon bomb” projects could destroy the last chance of stopping the planet heating to dangerous levels, the Guardian can reveal. The carbon bombs – 425 extraction projects that can each pump more than one gigaton of carbon dioxide into the atmosphere – cumulatively hold enough coal, oil and gas to burn through the rapidly dwindling carbon budget four times over. Between 2016 and 2022, banks mainly in the US, China and Europe gave $1.8tn in financing to the companies…
High interest rates help double HSBC profits
HSBC will hand more than $3bn (£2.5bn) to shareholders, after higher interest rates helped to more than double quarterly profits, despite taking a financial hit on China’s property crisis. The London-headquartered bank said it was launching the share buyback, and pay a dividend worth 10 cents a share, after what its chief executive, Noel Quinn, hailed as “three consecutive quarters of strong financial performance”. The move came as HSBC revealed it had made $7.7bn in pre-tax profits between July and September. While it fell short of average analyst forecasts for…
China’s economy grows faster than expected as retail sales rise
China’s economy grew at a faster than expected rate in the third quarter, suggesting the recent flurry of policy measures is helping to bolster a tentative recovery in the world’s second-biggest economy. Rapidly weakening growth in China since the second quarter has prompted authorities to step up support, with Wednesday’s data indicating the stimulus is starting to gain traction, although a property crisis and other problems continue to pose risks. Gross domestic product (GDP) grew 4.9% in July-September from a year earlier, data released by the National Bureau of Statistics…
Scottish Water admits solar farms could use parts linked to China’s forced labour camps
Scottish Water has admitted that its solar farms could use components linked to forced labour camps in China, “in clear conflict” with its anti-slavery policies. Scottish Water, a state-owned monopoly, has installed tens of thousands of solar panels it suspects are linked to Chinese slave labour at 66 sites around the country, bought for tens of millions of pounds. They include a “super solar” scheme at its large water treatment works that supplies 565,000 people in the Glasgow area with drinking water. It said the 8,448 panels at Balmore in…
20,000 Britons approached by Chinese agents on LinkedIn, says MI5 head
An estimated 20,000 Britons have been approached by Chinese state actors on LinkedIn in the hope of stealing industrial or technological secrets, the head of MI5 has said. Ken McCallum said industrial espionage was happening at “real scale”, and he estimated that 10,000 UK businesses were at risk, particularly in artificial intelligence, quantum computing or synthetic biology where China was trying to gain a march. “Week by week, our teams detect massive amounts of covert activity by the likes of China in particular, but also Russia and Iran,” the MI5…
How Chinese water deer found a home in the English countryside
A long, thin, pearly white tusk found while walking in Bedfordshire was identified (with the help of a warden from the local country park) as having fallen from the jaw of a Chinese water deer (Hydropotes inermis). The deer is a shy Asian species that is firmly established in the east of England. Like the slightly smaller muntjac, it escaped almost a century ago from the Duke of Bedford’s collection at Woburn Abbey, Bedfordshire. The species does not have antlers but long canine teeth that males use for seeing off…