Financial Times - Aug 18

Financial Times - Aug 18

Aug 18 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

- Ofgem director quits in protest at changes to price cap calculation Link

- Genesis CEO exits after crypto broker took hit from Three Arrows collapse Link

- Sanofi drops experimental breast cancer drug after second trial fails Link

- Jim Ratcliffe declares interest in buying Manchester United Link

Overview

- A board member of Ofgem Christine Farnish has quit after accusing the energy regulator of prioritising companies over consumers.

- Crypto broker Genesis will cut a fifth of its staff and replace its chief executive Michael Moro as it counts the cost of lending $2.4bn to hedge fund Three Arrows Capital.

- Sanofi SA SASY.PA has abandoned development of a once-promising breast cancer drug called amcenestrant after a second failed clinical trial, dealing a blow to its pipeline of new treatments.

- Billionaire Sir Jim Ratcliffe has declared his interest in buying English football club Manchester United if its controlling owners, the Glazers, are open to a sale.

(Compiled by Bengaluru newsroom)