Wednesday newspaper round-up: Covid testing, Vectura, Tesco, Avast

(Sharecast News) - The new low-cost long-haul Norwegian airline Norse Atlantic Airways has announced plans to fly between Europe and the US from early 2022, as it aims to fill the gap in budget transatlantic air travel left by Norwegian's departure from long-haul routes. Norse, which was formed in March by Norwegian airline industry veterans, will initially fly from Oslo, London and Paris to New York, Los Angeles and Fort Lauderdale. - Guardian The government is coming under pressure to intervene amid concerns that its Covid testing regime for travellers is close to collapse, with thousands failing to be properly tested on their return. As photos posted online showed drop-off boxes run by Randox, the UK's largest PCR testing provider, overflowing with unprocessed swabs, growing numbers of returning holidaymakers are reporting that their test kits are failing to arrive, or are taking up to six days to process. - Guardian

A takeover auction for Vectura has been scrapped at the 11th hour after one of the drugmaker's suitors declared that it would not increase its bid. American private equity firm Carlyle declared that its 155p-a-share offer for Vectura is final on the eve of a five-day auction against rival bidder Philip Morris International (PMI), the tobacco titan behind Marlboro cigarettes. - Telegraph

Tesco has been criticised for a "shock" decision to leave a code that promotes fair treatment of small suppliers just before a stricter regime began. It has quit the government-backed Prompt Payment Code after deciding that it could not adhere to a tightening of the code's terms designed to speed up payment to small businesses. - The Times

NortonLifeLock confirmed last night that the American cybersecurity company would buy Avast in a deal that values its London-listed British rival at up to $8.6 billion. In a statement the two companies said that shareholders in the Prague-based FTSE 100 group would receive a combination of cash and newly issued shares in Norton, with alternative options available. - The Times