Drugs giant GlaxoSmithKline has revealed a corruption probe in China sent sales of pharmaceuticals and vaccines in the country plummeting 61%.

Popular soft drinks brands Lucozade and Ribena are to be swallowed by Orangina Schweppes owner Suntory for €1.6bn.

Soft drinks brands Lucozade and Ribena could be bought by Japan’s Suntory Beverage & Food within days in a deal worth more than £1bn.

Drinks brands Lucozade and Ribena were today reported to be a £1bn takeover target for the owner of Irn-Bru.