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FTSE remains weak as US and UK economic growth slows

The FTSE 100 remained in the red as financials, pharmaceuticals and telecoms acted as a headwind and pushed the index 0.4% lower to 7,203.

Barclays pre-tax profits more than double

Barclays' first quarter group profit before tax more than doubled to £1,682m driven by improved profitability in the core business and materially lower losses in the non-core segment of £241m (Q116: £815m).

Press Roundup

A summary of Friday's business headlines. Coverage of Brexit, sterling, US tax reforms, Trump's first 100 days, Barclays, Google, Astrazeneca, United Airlines, Amazon, RBS, Persimmon, Lloyds, and much more ...

Old Mutual sells stake in Indian life JV

Old Mutual has agreed to sell its 26% stake in Kotak Mahindra Old Mutual Life Insurance Limited to its joint venture partner Kotak Mahindra Bank Limited. Gross cash consideration for the deal, before tax, was INR 12.9bn, or about £156m. Net consideration was expected to be about INR 11.7bn.

AZ pay report opposed by over 38% of shareholders

AstraZeneca faced a major protest at its annual general meeting yesterday with more than 38% of votes cast opposing its remuneration report.