Tuesday newspaper round-up: AstraZeneca, Thames Water, Funding Circle

(Sharecast News) - The UK's science minister, Chris Bryant, has described AstraZeneca's decision to scrap plans for a �450m expansion of its vaccine plant in Merseyside as "deeply disappointing". The pharmaceutical company announced on Friday that it was axing the planned expansion of its factory in the Liverpool suburb of Speke, citing factors "including the timing and reduction of the final offer compared to the previous government's proposal". - Guardian

The UK's science minister, Chris Bryant, has described AstraZeneca's decision to scrap plans for a �450m expansion of its vaccine plant in Merseyside as "deeply disappointing". The pharmaceutical company announced on Friday that it was axing the planned expansion of its factory in the Liverpool suburb of Speke, citing factors "including the timing and reduction of the final offer compared to the previous government's proposal". - Guardian

A group of investors has accused Thames Water of putting "a gun to the head" of London's high court by threatening to go into temporary nationalisation if it does not receive approval for a rival �3bn debt offer. The court heard the first day of arguments deciding between two rival plans to lend emergency cash to Thames Water, Britain's biggest water company. Thames provides water and sewerage services to nearly a quarter of the UK population in London and south-east England. - Guardian

Construction activity has slumped across Britain's biggest regional cities, underscoring the depth of the challenge facing Angela Rayner as she seeks to trigger a building boom. Developers made a start on 47 new projects in cities outside London last year according to Deloitte's regional crane survey, which monitors construction in the central areas of Leeds, Belfast, Manchester and Birmingham. - Telegraph

A US hedge fund tycoon has failed in his latest attempt to seize control of two UK investment funds after facing a backlash from shareholders. Investors in the two funds run by Baillie Gifford on Monday voted against a series of proposals put forward by Boaz Weinstein's hedge fund, Saba Capital Management, which called for a complete overhaul of the two funds' boards. - Telegraph

Claims that defects in Funding Circle's documentation and processes have left a firm owned by the hedge fund Elliott Management unable to pursue small business owners over personal guarantees are to be heard by the High Court. Azzurro Associates, which is owned by one of the world's largest hedge funds, is pursuing two directors of a business borrower in a closely watched case which will test claims that payment under the guarantees is not due to Azzurro despite its contentious acquisition of loans from Funding Circle. - The Times