Thursday newspaper round-up; Pharmaceuticals, Banks, Heathrow

Optimism for a breakthrough against Alzheimer’s disease has been boosted by encouraging clinical trial data from Eli Lilly, adding to perceptions of a broader renaissance in the pharmaceuticals industry. Positive signs yesterday from a trial of the US company’s solanezumab drug appeared to increase its chances of becoming the first treatment capable of slowing the pace of the memory-wasting condition. – The Financial Times

The ousted boss of the City watchdog has taken a coded swipe at the chancellor, saying that he had “unfinished business” and that the job of tidying up investment banking was far from complete. Martin Wheatley yesterday made clear his unhappiness after George Osborne refused to renew his contract as chief executive of the Financial Conduct Authority, despite levying billions of pounds in fines and making top-level attempts to reform the culture of trading floors. – The Times

David Cameron has packed a new aviation committee with supporters of adding a third runway at Heathrow, snubbing prominent critics in a sign that expansion of the west London airport is likely to be given the green light by government. – Financial Times

Forex traders are behaving themselves in the wake of a series of fines and investigations, according to Chris Salmon, the Bank of England’s markets boss. Bankers are still reeling after UK regulators fined six lenders a total of £1.4bn for manipulating foreign exchange benchmarks, while a number of ex-traders are facing prosecution for alleged fraud related to the Libor interest rate benchmark. - The Daily Telegraph

Royal Dutch Shell has been granted two final permits to explore for crude in the Arctic this summer, but the US has banned the company from drilling for oil until emergency equipment arrives in the region. The US Interior Department's Bureau of Safety and Environmental Enforcement (BSEE) conditionally granted Shell permits for exploration in the Chukchi Sea off Alaska, in a season which sea ice limits from July until October. - The Daily Telegraph

Greece’s prime minister easily won a crucial vote on a third bailout programme for the debt-stricken nation early on Thursday, hours after the European Central Bank infused cash-starved Greek banks with further emergency liquidity. A total of 230 MPs backed the economic reforms programme demanded by Greece’s creditors, while 63 voted against the plan at the late-night vote. Alexis Tsipras again faced down rebels within his own party who oppose a third bailout. Thirty-six Syriza MPs either voted no or abstained, three fewer than at a similar vote last week. - The Guardian