Thursday newspaper round-up: Merck, North Sea, life sciences

(Sharecast News) - The US drugmaker Merck has scrapped a £1bn London research centre and is laying off 125 scientists in the capital this year, in a big blow to the UK's important life science sector. Keir Starmer's government has described life sciences as "one of the crown jewels of the UK economy" and the previous Conservative government had vowed to turn the country into a "global science and technology superpower" by 2030. - Guardian

The chancellor, Rachel Reeves, has told private equity bosses that she plans to shut down more regulators across the UK as she attempts to drive growth across Britain's subdued economy. Reeves - who in July claimed regulators were a "boot on the neck" of business - highlighted her recent decisions to sack the chair of the competitions watchdog, shut down the payments regulator, and "severely" constrain the Financial Ombudsman Service, which UK banks have long lobbied to curtail. However, she said there was "still more to do". - Guardian

Ed Miliband must embrace the declining North Sea by offering subsidies to oil and gas companies operating in the basin, Dale Vince has said. Mr Vince, the green energy tycoon who is also a Labour donor, said companies that operate in the North Sea should be given a guaranteed minimum price per barrel of oil and gas to put them on an equal footing with renewable energy providers. - Telegraph

The UK is "losing the race" to attract global investment into its key life sciences and pharmaceutical sectors due to an uncompetitive operating environment, the pharmaceuticals industry has warned amid a stand-off with the government. The critical report from the Association of the British Pharmaceutical Industry "lays bare" the country's drop in rankings in attracting foreign direct investment and commercial clinical trials. - The Times