AstraZeneca has struck a deal with a fast-growing UK biotech company to develop treatments that use the body’s immune system to fight cancer. The partnership with privately owned Immunocore highlights intensifying interest from big pharmaceutical groups in what many experts consider the most promising area of cancer research. – Financial Times

The International Monetary Fund will revise upward its global growth forecast in about three weeks, Managing Director Christine Lagarde has revealed. “We will be revising upwards the global forecast of the economic growth,” she told a press conference in the Nairobi, adding that it would be premature to say any more. – The Telegraph

The regulator who authorised Paul Flowers’s appointment as chairman of the Co-operative Bank faced intense criticism from MPs on Tuesday after he insisted he stood by the decision to allow the now disgraced Methodist minister to take on the role after a 90-minute interview in 2010. – The Guardian

Gatwick Airport ignored its own contingency plan when floods struck on Christmas Eve and tried to get as many passengers away as possible, even though it lacked sufficient staff or bus drivers to transfer travellers between terminals, Parliament was told yesterday. – The Times

Ford Chief Executive Alan Mulally has moved to scotch speculation that he might move to Microsoft, saying he had “no plans to do anything other than serve Ford”. The statement by Mr Mulally – who has run the second-biggest US carmaker by sales since 2006 – is aimed at ending months of speculation that he might take over from Steve Ballmer, the departing Microsoft Chief Executive. – Financial Times

One of China’s biggest developers has bought the historic Ram Brewery in Wandsworth in a deal worth £600m and plans to build a high-rise housing scheme on the site. Greenland Plc, owned by the Chinese state, said today that it had agreed to buy the site from Delancey and Ares Management in its first UK deal. – The Times

The hedge fund manager, Chris Hohn, has made billions of dollars after a record year – but, for the first time since founding The Children’s Investment (TCI), his charity may not see a penny of the profit. TCI’s flagship $7.9bn (£4.8bn) Master Fund generated a 47% return during 2013 – among the best performances of any hedge fund in the world – from investments in companies including Royal Mail. – The Telegraph