Morning Wrap: today's top business stories

Business news from around the web.

New Statesman

Gulf in fees paid by council pensions (FT)

Huge disparities in the fees paid by the UK’s local authority pension funds to their fund managers have been revealed in Financial Times research, with some councils paying three times as much as funds the same size elsewhere in the country.

AstraZeneca buys Omthera in $443m 'heart drug' deal (Telegraph)

The British drugmaker said on Tuesday it had agreed to buy the Nasdaq listed company for $12.70 a share, or around $323m. This is a premium of 88pc on Omthera's closing price on Friday.

George Osborne: Seven departments agree new spending cuts (BBC)

George Osborne has reached agreement with seven Whitehall departments on savings ministers want to make in 2015.

The chancellor said he had found 20% of the £11.5bn he wants to cut spending by in the year from April 2015.

Trident UK’s best option, says review (FT)

Britain will have to continue with the submarine-launched Trident weapons system, the long-awaited Whitehall review into the UK’s deterrent has concluded after officials rejected other options.

Half of EU members 'oppose China solar tariffs' (BBC)

The UK and Germany are among at least 14 European Union members opposed to punitive tariffs on Chinese solar panel imports, according to diplomats.