AssociatedBritishFoods

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Reuters - 3 days ago

UK retail sales dived before new government's budget, ONS says

UPDATE 3-UK retail sales dived before new government's budget, ONS says UK retail sales -0.7% m/m vs Reuters poll -0.3% Timing of school holidays possibly a factor - ONS Warmer weather hurt clothing sales, retailers say Consumer confidence picked up in November - GfK Adds analyst paragraphs 11-12, details and background throughout By William Schomberg LONDON, Nov 22 (Reuters) - British retail sales fell by much more than expected in October, according to official data that added to other signs o

Reuters - 4 days ago

UK firms flag over $1 billion in costs from increase in national insurance, wages

FACTBOX-UK firms flag over $1 billion in costs from increase in national insurance, wages Adds details on Mitie's cost estimates Nov 21 (Reuters) - British companies have flagged an increase of about 820 million pounds ($1.04 billion) in costs related to a rise in employers' social security contributions following Finance Minister Rachel Reeves' maiden budget in October.

Reuters - 1 week ago

UK firms flag hundreds of millions in costs from increase in national insurance, wages

FACTBOX-UK firms flag hundreds of millions in costs from increase in national insurance, wages Adds Young & Co Brewery's statement in paragraph 12 Nov 15 (Reuters) - British companies have flagged a rise of about 520 million pounds in costs following Finance Minister Rachel Reeves' maiden budget in October, which included an increase in employers' social security contributions.

Reuters - 2 weeks ago

Shein margin wobble takes bite out of IPO value

RPT-BREAKINGVIEWS-Shein margin wobble takes bite out of IPO value The author is a Reuters Breakingviews columnist. The opinions expressed are her own. By Aimee Donnellan LONDON, Nov 14 (Reuters Breakingviews) - Shein’s planned stock-market float has always seemed dicey. The Singapore-headquartered fast-fashion group, which has Chinese roots, is exposed to rising Sino-U.S.

Reuters - 2 weeks ago

UK discounter B&M says well set for Christmas with trading on improving trend

UPDATE 2-UK discounter B&M says well set for Christmas with trading on improving trend First half core earnings up 2% to 274 mln stg Forecasts 620-660 mln stg for full year Built up stock early for Christmas trading Shares up 4% Adds shares in paragraph 6, analyst in 8, details in 11-13 By James Davey LONDON, Nov 14 (Reuters) - British discount retailer B&M BMEB.L said it was "well positioned" for the key Christmas quarter, having built up stock early to remove the risk of supply chain disruptio

Reuters - 2 weeks ago

Shein margin wobble takes bite out of IPO value

BREAKINGVIEWS-Shein margin wobble takes bite out of IPO value The author is a Reuters Breakingviews columnist. The opinions expressed are her own. By Aimee Donnellan LONDON, Nov 14 (Reuters Breakingviews) - Shein’s planned stock-market float has always seemed dicey. The Singapore-headquartered fast-fashion group, which has Chinese roots, is exposed to rising Sino-U.S.

Reuters - 2 weeks ago

Retail boss calls for UK tax rises to be staggered to avoid stoking inflation

UPDATE 1-Retail boss calls for UK tax rises to be staggered to avoid stoking inflation UK retail sector facing 5 bln stg hit, says BRC chairman Says tax rises should be phased over three years UK govt says budget took tough but necessary choices Adds comment from Prime Minister's spokesperson in paragraph 6 LONDON, Nov 13 (Reuters) - The new Labour government must re-think the timing of tax rises imposed in last month's budget and instead phase them in if it wants to avoid fuelling inflation, th

Reuters - 2 weeks ago

Retail boss calls for UK tax rises to be staggered to avoid stoking inflation

Retail boss calls for UK tax rises to be staggered to avoid stoking inflation LONDON, Nov 13 (Reuters) - The new Labour government must re-think the timing of tax rises imposed in last month's budget and instead phase them in if it wants to avoid fuelling inflation, the chairman of the British Retail Consortium said on Tuesday. The budget raised employers' National Insurance, or social security, contributions by 1.2 percentage points to 15% from April, and also lowered the threshold for when fir

Reuters - 2 weeks ago

Sainsbury's and BT warn of price hikes from UK budget

RPT-CORRECTED-UPDATE 1-Sainsbury's and BT warn of price hikes from UK budget Repeats earlier story without change By James Davey, Paul Sandle LONDON, Nov 7 (Reuters) - Two of Britain's biggest businesses, BT BT.L and Sainsbury's SBRY.L , said tax changes in last week's budget would fuel inflation, a view already playing into the Bank of England's longer term interest rate plans.

Reuters - 3 weeks ago

Sainsbury's and BT warn of price hikes from UK budget

CORRECTED-UPDATE 1-Sainsbury's and BT warn of price hikes from UK budget Corrects to remove reference to minimum wage in paragraph 7 By James Davey and Paul Sandle LONDON, Nov 7 (Reuters) - Two of Britain's biggest businesses, BT BT.L and Sainsbury's SBRY.L , said tax changes in last week's budget would fuel inflation, a view already playing into the Bank of England's longer term interest rate plans.

Reuters - 3 weeks ago

Elisa, Nexus, Telia

EUROPE RESEARCH ROUNDUP-Elisa, Nexus, Telia Nov 6 (Reuters) - Securities analysts revised their ratings and price targets on several European companies including Elisa, Nexus and Telia on Wednesday. HIGHLIGHTS * Elisa Oyj ELISA.HE : Barclays raises to overweight from underweight * Inficon Holding AG IFCN.S : Berenberg raises to buy from hold * Nexus AG NXUG.DE : Stifel cuts to hold from buy * Telenor ASA TEL.OL : Barclays cuts to equal weight from overweight * Telia TELIA.ST : Barclays cuts to u

Reuters - 3 weeks ago

M&S turnaround gathers traction with first-half profit beat

UPDATE 3-M&S turnaround gathers traction with first-half profit beat H1 proﬁt before tax and adjusting items up 17.2% Food sales up 8.1%, clothing and home sales up 4.7% Trading in H2 so far 'remains on track' Confident of 'further progress' in remainder of year Shares up 6% to over eight-year high Adds shares in paragraph 3, investor comment 7 and 8, CEO comments 9, 10 By James Davey LONDON, Nov 6 (Reuters) - British retailer Marks & Spencer forecast strong Christmas trading after reporting a

Reuters - 3 weeks ago

FTSE 100 ends down as AstraZeneca slumps, US election in focus

UPDATE 1-FTSE 100 ends down as AstraZeneca slumps, US election in focus FTSE 100 down 0.1%, FTSE 250 down 0.5% AstraZeneca falls on potential China probe All eyes on U.S. election British services PMI at 52 in Oct Schroders slumps after Q3 results Updated at 1650 GMT By Pranav Kashyap and Nikhil Sharma Nov 5 (Reuters) - Britain's benchmark FTSE 100 edged lower on Tuesday, hurt by AstraZeneca's fall on a potential China probe, while investors remained cautious as U.S.

Reuters - 3 weeks ago

Ethiopia to issue $7.5 bln local bonds to pay state firms' debts, parliament document shows

Ethiopia to issue $7.5 bln local bonds to pay state firms' debts, parliament document shows ADDIS ABABA, Nov 5 (Reuters) - Ethiopia plans to issue 10-year local Treasury bonds worth 900 billion birr ($7.50 billion), whose proceeds will be used to pay off debts state-owned firms owe the Commercial Bank of Ethiopia, also state-owned, according to a document approved by parliament on Tuesday.

Reuters - 3 weeks ago

Primark expecting a good Christmas, says parent's boss

UPDATE 1-Primark expecting a good Christmas, says parent's boss Says consumers have a little more spending power Primark trading improved after Sept. 5 update Trading strong in Sept. and most of Oct. UK govt tax changes to cost 'tens of millions' of pounds Adds more comments from AB Foods CEO paragraphs 4 to 12 By James Davey LONDON, Nov 5 (Reuters) - Budget clothing retailer Primark is expecting to trade well in the run-up to Christmas, the boss of its parent said on Tuesday.

Reuters - 3 weeks ago

Primark expecting good Christmas, says parent's boss

Primark expecting good Christmas, says parent's boss LONDON, Nov 5 (Reuters) - Budget clothing retailer Primark is expecting to trade well in the run-up to Christmas, the boss of its parent said on Tuesday. "We think that Christmas is going to be good," George Weston, CEO of Associated British Foods ABF.L , told Reuters after the group reported annual results .

Reuters - 3 weeks ago

Britain's AB Foods hits 2-month high on FY24 profit jump

BUZZ-Britain's AB Foods hits 2-month high on FY24 profit jump ** Primark-owner Associated British Foods ABF.L gains 2.2% to 2,340p, highest since Sept. 5 ** FY24 adj operating profit jumps to ~2 bln pounds ($2.59 bln) vs year-ago 1.51 bln pounds ** Co notifies further share buyback of 500 mln pounds ** Announces declared dividend of 42.3p and speci

Reuters - 3 weeks ago

Primark and groceries fuel profits at Britain's AB Foods

UPDATE 3-Primark and groceries fuel profits at Britain's AB Foods Full-year adjusted operating profit up 32% Outcome driven by grocery and Primark Expects good Christmas at Primark Reiterates caution on outlook for sugar Shares up 3% Adds shares and Primark story link in paragraph 2, detail in 9 and 10 By James Davey LONDON, Nov 5 (Reuters) - Associated British Foods ABF.L said it was well set-up for medium term growth, as it reported a 32% rise in full-year profit, driven by robust performances

Reuters - 3 weeks ago

UK Stocks-Factors to watch on Nov 5

UPDATE 1-UK Stocks-Factors to watch on Nov 5 Adds new items, updates futures Nov 5 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening lower on Tuesday, with futures FFIc1 down 0.2%. * VODAFONE: The $19 billion merger between Vodafone VOD.L and Hutchison's 0001.HK Three UK is likely to be given the go ahead as investment commitments outweigh competition concerns, the British regulator said in a provisional ruling on Tuesday.

Reuters - 3 weeks ago

Primark owner AB Foods profit up 32% but sugar weighs on outlook

CORRECTED-UPDATE 1-Primark owner AB Foods profit up 32% but sugar weighs on outlook Corrects paragraph 1 to say "accelerating weakness" in sugar business not "falling profits" LONDON, Nov 5 (Reuters) - Associated British Foods ABF.L reported a 32% rise in full-year profit, with a robust performance from its grocery division and a solid outcome from its Primark clothing business partially offset by accelerating weakness in its sugar operations.

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