Turbulent Times: Major Deals and Tax Hikes Dominate Headlines

The Financial Times highlights potential tax changes in Britain, major corporate deals, and legal challenges in the pharma sector. Key stories include a possible income tax rise in Britain, Orsted's wind farm sale, Pfizer's lawsuit against Novo Nordisk, and AstraZeneca's New York listing approval.

In Britain, Prime Minister Keir Starmer is preparing Labour MPs for potential income tax hikes as part of efforts to manage the national debt, while avoiding drastic public spending cuts.

Meanwhile, Denmark's Orsted has agreed to a $6.5 billion sale of half its offshore wind farm to Apollo, navigating through the industry's rising costs and political hurdles.

In the pharmaceutical sector, Pfizer is intensifying its legal battle against Novo Nordisk's $9 billion Metsera acquisition bid, citing competitive violations, as AstraZeneca secures approval for a significant New York market listing.

(With inputs from agencies.)