PRESS DIGEST- British Business - Aug 5
The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
One of Britain's biggest drug companies, Shire, has initiated a $30 billion hostile takeover of Baxalta Inc , an American rival, as it seeks to become the world's leading supplier of medicines for rare diseases. (thetim.es/1KPcj96)
The British housing market may have had a brief summer lull, but prices are on the rise again. The latest figures from mortgage lender Nationwide indicate that house prices increased by 0.4 percent last month, pushing the annual rate of house price growth up to 3.5 percent. (thetim.es/1KPctNF)