Reuters UK Business

Cost savings drive Philips’ Q2 profit beat, flags insurance payout

By Stephanie Hamel and Charlotte Eugenie Yvette Bawol (Reuters) -Philips reported second-quarter results that exceeded analysts’ expectations on Monday, boosted by savings from job cuts, and flagged a big insurance payout linked to its Respironics product liability claims, sending its shares more than 10% higher. The Dutch medical device maker said its adjusted earnings before …

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Meat producer Cranswick’s quarterly revenue grows on strong demand

(Reuters) -British meat producer Cranswick reported higher first-quarter revenue on Monday as strong demand for its premium ranges offset lower meat prices in Asia and Europe. Cranswick, which produces fresh pork, bacon, gourmet sausages, poultry items and continental foods and supplies to supermarkets, said its revenue growth was led by strong volumes. “Export sales volumes …

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Heineken’s shares slide as first-half results miss forecasts

LONDON (Reuters) -Dutch brewer Heineken reported a 12.5% rise in half-year operating profit on Monday after an anticipated boost from sporting events in June and July did not materialise, missing analyst estimates and sending its shares down 7%. The results and an 874-million euro ($948 million) impairment related to its Chinese partner China Resources Beer …

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London’s FTSE 100 boosted by energy stocks; US, UK rate decisions in focus

(Reuters) – London’s FTSE 100 inched higher on Monday, boosted by energy shares as well as investor optimism around interest rate cuts in the U.S. and the UK, while weakness in Pearson limited gains. The blue-chip FTSE 100 index was up 0.5%, hitting its highest since early June. The mid-cap FTSE 250 was flat at …

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Reckitt Benckiser shares hit lowest since 2013 on Abbott trial verdict

LONDON (Reuters) – Shares in British consumer goods company Reckitt Benckiser hit their lowest in over 11 years on Monday, after a U.S. jury found Abbott Laboratories formula caused a girl to develop a dangerous bowel disease. The jury found Abbott must pay $495 million in damages. Close to 1,000 lawsuits have been filed against …

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Apple’s artificial intelligence features to be delayed, Bloomberg News reports

(Reuters) -Apple’s upcoming artificial intelligence features will arrive later than anticipated and will miss the initial launch of upcoming iPhone and iPad software overhauls, Bloomberg News reported on Sunday. The iPhone maker is planning to begin rolling out Apple Intelligence to customers as part of software updates coming by October, the report added, citing people …

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Struggle for skilled workers in spotlight at Farnborough Airshow

By Tim Hepher, Allison Lampert and David Shepardson FARNBOROUGH, England (Reuters) -Germany’s Lilium Jet has a queue of young engineers and students waiting to board thanks to the interest of a five-year-old boy. The futuristic flying taxi is one of many high-tech projects on display as the Farnborough Airshow turns its attention to the aerospace …

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Six banks settle European bond price fixing litigation in New York

By Jonathan Stempel NEW YORK (Reuters) – Six banks including Bank of America and Citigroup agreed to pay $80 million to settle antitrust litigation in New York accusing them of conspiring to rig prices of European government bonds. A preliminary settlement with Bank of America, Citigroup, Jefferies, NatWest, Nomura and UBS was filed late Friday …

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