(Bloomberg) — Here’s the key business news from London-listed companies this morning:
Fevertree Drinks Plc: The tonic water maker cut its full year Ebitda expectations in the wake of higher commodity prices caused by the war in Ukraine.
- Disruption in the global supply chain also impacted the company’s gross margin
Computacenter Plc: The IT services company said the war in Ukraine is likely to exacerbate supply chain issues already being experienced due to the coronavirus pandemic.
ITM Power Plc: The energy storage company delayed the schedule of one of its contracts after it experienced a constraint in the local supply chain of tooling for the scale up of stack manufacture.
Outside The City
Russia and Ukraine are scheduled for another round of talks today. Vladimir Putin said yesterday that Ukraine’s leadership was not “serious” about resolving the conflict, while the Ukraine army said Russia continued to strike infrastructure targets.
Boris Johnson arrived in the United Arab Emirates today seeking help with the country’s energy crisis. After meeting with the de facto leader of the UAE, Johnson will travel to Saudi Arabia for a meeting with Saudi Crown Prince Mohammed bin Salman. From Abu Dhabi, Johnson said talks on the release of British-Iranian charity worker Nazanin Zaghari-Ratcliffe from Iran are “moving forward.”
In Case You Missed It
The U.K. government announced a ban on exporting luxury goods to Russia and slapped new tariffs on Russian imports, like vodka and steel, yesterday. More sanctions were placed on individual Russians, with Alfa Bank founder Mikhail Fridman and former President Dmitry Medvedev now included in the regime.
Meanwhile, U.K. unemployment dropped below its pre-pandemic level for the first time as redundancies fell to a record low and job vacancies hit an all-time high.
Looking Ahead
Food delivery giants Deliveroo Plc and Ocado Group Plc will publish results tomorrow. Later on Thursday, the Bank of England will announce whether it’s raising its key interest rate in a bid to contain inflation.
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
