Glaxo sells stake in S. Africa’s Aspen

GlaxoSmithKline Plc ended its seven-year run as an investor in Aspen Pharmacare Holdings Ltd, selling the final portion of its stake in the South African company for about $619 million. Shares of the Durban-based company, Africa’s biggest maker of generic drugs with sales in more than 150 countries, have risen sixfold during that period, Glaxo said on Wednesday in a statement. Since Glaxo last sold Aspen shares, the stock has declined about 21 percent. Aspen fell to its lowest intraday level since May on Thursday.

Two women take a photo of a basket of flowers, vegetables and fruits at an flower expo in Fuyang, Anhui province. The event opened on Wednesday and will last for eight days.

to cut interest rates further, an official said on Wednesday. “It seems likely to me that further monetary stimulus will be required at some point in order to help ensure that a slowdown in economic activity doesn’t turn into something more pernicious,” said Minouche Shafik, the deputy governor of the Bank of England. “However, the likely timing of that stimulus will depend on the continued evolution of the data over the coming weeks and months.” leave the European Union on the British economy will not be known until the end of the year, a leading economics professor said on Wednesday at a briefing on the implications of the British exit from the EU. “Nobody knows if the economy is taking a hit or not. We see one survey saying it is looking rosy, and another saying it is bad. We will not have any real data until the end of October when the first GDP estimates are produced — and even then Brexit will not have yet happened,” said Professor Iain Begg, of the London School of Economics. Begg was speaking at a briefing held at King’s College in central London arranged by The UK in a Changing Europe, a thinktank, was attributed to continuous decline industry and mining while growth of agriculture growth is also lower than that of the same period last year,” said Nguyen Bich Lam, GSO head.