Top Stories in the Financial Times: AstraZeneca's Milestone, Legal Disputes, and Market Movements

Financial Times highlights significant events: AstraZeneca reaches a 200 billion pound valuation; Hipgnosis sues Barry Manilow over bonus payments; Bellway drops its bid for Crest Nicholson; and Brussels conflicts with Thierry Breton over a letter to Elon Musk concerning harmful content on social media.

AstraZeneca has hit a remarkable milestone, becoming the only current UK-listed firm to achieve a 200 billion-pound valuation, driven by its focus on cancer drug development.

In the music industry, Hipgnosis Songs Fund has filed a lawsuit against American singer Barry Manilow, seeking bonus payments related to its acquisition of his back catalogue.

In real estate, British housebuilder Bellway has unexpectedly abandoned its 720 million-pound bid to acquire Crest Nicholson, causing a steep near-20% drop in Crest's shares.

In regulatory news, Brussels reproached internal market commissioner Thierry Breton for sending a punitive letter to Elon Musk about potentially harmful content on social media, a move seen as rogue by the EU.