UK Liberal Democrats to elect new leader after Swinson loses seat

General election: The big winners – and the big beasts who lost their seats

Unprecedented Conservative gains across England made it an incredible election night for Boris Johnson – and a nightmare for Jeremy Corbyn and Labour.

Swipe through the cards below to see all the biggest winners and losers from the night, with more being added as the results filter through.

Veteran UK Labour lawmaker Dennis Skinner loses to Conservatives

LONDON, Dec 13 (Reuters) – Veteran Labour lawmaker Dennis Skinner lost the seat he had held since 1970 on Friday, as another brick in the “Red Wall” of traditional Labour support fell to British Prime Minister Boris Johnson’s Conservatives and their pledge to deliver Brexit.

The 87-year-old, who was the party’s longest continuously serving lawmaker, was defeated by Conservative Mark Fletcher, who overturned his 5,288 majority to win Bolsover with 21,791 votes against Skinner’s 16,492.

UK PM Johnson's Conservatives have won a majority -ITV

LONDON, Dec 13 (Reuters) – British Prime Minister Boris Johnson’s Conservatives have won an outright majority in parliament, according to a tally of seats won so far by broadcaster ITV.

The official exit poll projected the Conservatives would win a total of 368 seats. With 595 or parliament’s 650 seats declared, the Conservatives have won 326, ITV said. (Reporting by Kylie MacLellan; Editing by Guy Faulconbridge)

Citi: British election result ‘probably as good as it gets’

Equity strategists at Citi said the U.K. election result "is probably as good as it gets." The bank said the FTSE 250 MCX, +0.71% could rally even more than the FTSE 100 UKX, +0.79% given its higher exposure to the domestic economy. Citi has an 8,100 target on the FTSE 100 for the end of 2020. That said, the bank says it remains concerns about the implications of Brexit for the U.K. economy and is forecasting a mild recession in 2021. The bank also expects more debt-financed M&A and share buybacks as the U.K. cost of equity, at 8.2%, is far higher than the cost of debt, at 2.5%.

Fox News host delivers a scathing rebuke of Trump? Yes, it happened… again

If Donald Trump had a problem with Chris Wallace before (he did), then he’s really not going to like the Fox News host after his latest critique.

That’s Wallace sharing his thoughts on the presidency at an event on Wednesday night celebrating the First Amendment at Washington, D.C.’s Newseum.

Wallace pointed to this Trump tweet, in particular, from back in 2017 that “said far more about him than it did about us”:

“Let’s be honest, the president’s attacks have done some damage,” the longtime broadcaster and son of journalist icon Mike Wallace said, pointing to a poll that found 77% of Americans believe fake news is a serious threat to our democracy.

Wallace also warned the media that it’s a “big mistake” to use the president’s attacks as rationale to push back too hard and cross the line.

“I see it all the time on the front page of major newspapers and the lead of the evening news: fact mixed with opinion, buzzwords like ‘bombshell’ and ‘scandal,’” he said. “The animus of the reporter and the editor as plain to see as the headline.”

Here’s the clip of Wallace’s speech:

Wallace has strayed from the prevailing political bias on Fox News before. Of course, it hasn’t gone unnoticed by Trump, the “counterpuncher”:

Futures point to stronger gains for German DAX and French CAC 40 than U.K. FTSE 100

Futures prices pointed to better gains for the German DAX DAX, +0.57% and French CAC 40 PX1, +0.40% than the U.K. FTSE 100 UKX, +0.79%, as the surge in sterling weighs on British-headquartered multinationals. Futures pointed to a 0.3% gain for the FTSE 100 but a 1.3% jump for the German DAX and the 1.5% for the French CAC 40.

Genentech: Phase III IMspire150 Study Of Tecentriq Meets Primary Goal

Genentech, a member of Swiss drug maker Roche Group (RHHBY), announced Friday that the Phase III IMspire150 study of Tecentriq Plus Cotellic and Zelboraf in people with previously untreated BRAF V600 mutation-positive advanced melanoma met its primary endpoint of progression-free survival.

The study showed adding Tecentriq (atezolizumab) to Cotellic (cobimetinib) and Zelboraf (vemurafenib) helped to reduce the risk of disease worsening or death, compared to placebo plus Cotellic and Zelboraf.

The company noted that a significant and clinically meaningful improvement in PFS was demonstrated in the study. The safety profile observed in IMspire150 was consistent with the known safety profiles of the individual medicines.

The company will present the results from the study at an upcoming medical meeting and discuss with health authorities, including the U.S. Food and Drug Administration and European
Medicines Agency.

Genentech said it has an extensive clinical trial development program for Tecentriq, with more than 50 ongoing studies, including multiple Phase III studies across lung, kidney, skin, breast, colorectal, prostate, ovarian, bladder, blood, liver and head and neck cancers.

Studies are evaluating Tecentriq alone and in combination with other medicines.

UK Liberal Democrats to elect new leader after Swinson loses seat

LONDON, Dec 13 (Reuters) – Britain’s Liberal Democrats said they would elect a new leader next year after Jo Swinson lost her seat in parliament at Thursday’s general election.

“In the weeks ahead we will elect a new leader and our party will continue to be the rallying point for anyone who believes in a country where everyone has the chance to get on in life,” party President Sal Brinton said in a statement.

The party said Brinton and lawmaker Ed Davey would be joint acting leaders. (Reporting by William James and Costas Pitas)