Fabergé Sold: Gemfields has sold the luxury brand Fabergé to US investment firm SMG Capital for $50 million (£37.1 million). New owner Sergei Mosunov pledged to preserve the brand’s prestige while expanding its reach in jewelry, accessories, and timepieces. Gemfields said the sale streamlines operations and strengthens its balance sheet.
Oxford Nanopore CEO to Step Down: Co-founder Gordon Sanghera will leave his role as chief executive by the end of next year after leading the FTSE 250 biotech since 2005. The company, now valued at £2 billion, has seen its share price double since April but remains below its 2021 IPO level.
GSK Drug Advances: rose 1% to £1,411.45 after the FDA granted priority review to gepotidacin, an oral antibiotic for gonorrhea, with a decision expected by December 2025.
Sorrell’s S4 Capital in Merger Talks: Advertising group S4 Capital, founded by Sir Martin Sorrell, confirmed preliminary merger discussions with MSQ Partners. Reports also suggest interest from US private equity firm New Mountain Capital.
