Key Developments in UK Finance and Business - Financial Times Highlights

British finance minister Rachel Reeves aims to keep UK banks competitive by foregoing a proposed Budget tax hike while also planning to reduce household energy bills. The US warns of pharmaceutical withdrawal unless drug prices rise, and Unilever questions the suitability of Ben & Jerry’s chair.

In a strategic move to maintain competitiveness in the financial sector, British finance minister Rachel Reeves is opting to forgo a punitive Budget tax raid on UK banks. This decision correlates with a broader push to support economic growth within the country.

The UK government is devising plans to reduce household energy costs by up to £200 annually. This initiative aligns with Chancellor Rachel Reeves' commitment to address the cost of living crisis and work towards reducing inflationary pressures on citizens.

In other business news, American pharmaceutical firms have threatened to exit the UK market unless the nation increases its drug prices. Additionally, Unilever has raised concerns about Ben & Jerry's chair, Anuradha Mittal, deeming her 'unsuitable' for her current board role, amidst ongoing corporate disagreements.

(With inputs from agencies.)