A LONDON-based law firm has been engaged by the Government to investigate the role played by US-based pharmaceutical firms in the blood contamination scandal.

Former Shell chairman Philip Watts today lost a showdown with the London market watchdog into how it handled the investigation into the oil giant’s reserves crisis.

Manchester United’s shares dropped by two per cent at the start of trading this morning as the Old Trafford club awaited Malcolm Glazer’s next move in his takeover battle.