Thursday newspaper round-up: Exporters, Pfizer, Saudi Arabia

15th May 2014 07:24

Growing confidence among Britain's army of exporters has fuelled hopes that the government can meet its ambitious target of doubling overseas sales to 1trn pounds by 2020. In their latest health check of the sector, the British Chambers of Commerce and DHL Express found that 71 per cent expected turnover to improve in the second quarter, while 40 per cent hoped to increase staff, the highest on record. - The TimesPfizer's top scientist Mikael Dolsten on Wednesday embarked on a whistlestop tour of Britain's leading scientific figures to garner support for an AstraZeneca deal. Mr Dolsten is understood to have met with Sir William Castell, chairman of the Wellcome Trust. He also plans to meet with Sir Paul Nurse, President of the Royal Society. Both have sounded public warnings about a potential deal. - The Daily TelegraphSaudi Arabia and a clutch of Arab Gulf states responsible for a quarter of the world's oil supplies have been told to provide their own security as the US and the UK slash defence spending. For the last 30 years the six members of the Gulf Co-operation Council (GCC) have drawn heavily on US and British military support to safeguard their security but these unwritten guarantees are now unravelling amid cuts to defence spending and a reduced dependence on Middle East oil. - The Daily Telegraph Burberry has handed its new Chief Executive a "golden hello" in shares worth up to £7.5m and an annual pay package of up to £8.1m, according to reports. Christopher Bailey's salary includes a £440,000 allowance for clothing and other items, £53,000 more than former boss Angela Ahrendts, who is leaving the British fashion house to join US technology giant Apple as its head of retail. The difference is believed to be because Ms Ahrendts has a car and driver that Mr Bailey will not use. - The Daily Telegraph AstraZeneca's Chief Executive insisted that a buyout by Pfizer was "not inevitable" as details emerged of shares and options worth £60m that could mature for the British company's senior executives if a takeover is sealed. Pascal Soriot told MPs on the science and technology select committee yesterday that he did not intend to surrender to the US company without a fight. "We have complete confidence in our independent strategy and we are focused on delivering new drugs for patients," he said. - The Times AB