Press Digest: Financial Times - October 28

Novartis AG

28/10/2026 02:01

The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
     
Headlines
     - Law firm Weil prepares for possible wind-down as crisis deepens
- Novartis takes $1.9 billion writedown on key drug after blockbuster Avidity acquisition
- Bank of England orders review of Revolut’s product approval processes
- UK aims to establish if Poundland owners are trying to force its collapse
     
Overview
     - Law firm Weil, Gotshal & Manges has tapped restructuring specialists to assess options including a possible wind-down, as the crisis deepens at one of America’s largest and most prestigious law firms.
- Novartis NOVN.S has taken a near $2 billion writedown on a drug at the centre of its Avidity BioSciences acquisition this year, after the rare disease treatment’s failure in a late-stage trial raised doubt about its viability.
- The Bank of England has ordered a review of Revolut’s product approval processes, probing its internal controls even as the fintech uses its newly won UK banking licence to expand into areas such as personal loans.
- Britain's ministers are seeking to establish if Poundland’s owners are about to unnecessarily force the embattled retailer into administration and jeopardise thousands of jobs, including in Prime Minister Andy Burnham’s constituency.
     

(Compiled by Bengaluru newsroom)
((globalnewsmonitoring@thomsonreuters.com))