Reuters UK Business

By Savyata Mishra (Reuters) -McDonald’s reported a surprise drop in sales worldwide on Monday, its first decline in 13 quarters, as deal-seeking consumers shy away from higher priced menu items, including Big Macs. Persistent inflation has forced lower-income consumers to shift to more affordable food options at home. That has led fast food chains such …

McDonald’s sales fall globally for first time in more than three years Read More »

MADRID (Reuters) – Spanish construction firm Sacyr hired Santander and Deutsche Bank as financial advisers to find a partner for new unit Voreantis as a way to raise cash and better compete with larger rivals for contracts in countries such as the United States, a company source told Reuters on Monday. The motorway concession company …

Sacyr hires Santander and Deutsche Bank as advisers to find partner Read More »

LONDON (Reuters) – Britain’s new finance minister Rachel Reeves said on Monday she would axe universal winter fuel payments for pensioners, saying they will now only go to those who receive welfare support. Reeves said this would better target support for heating costs at those who need it, while all pensioners will still benefit from …

UK’s Reeves scraps universal heating support for pensioners Read More »

LONDON (Reuters) – Britain’s Office for Budget Responsibility will initiate a review into how a March budget held by the last government was prepared after the new finance minister said it would have led to a 22 billion pound ($28.27 billion) overspend. Rachel Reeves announced spending cuts worth 13.5 billion pounds over the next two …

UK’s OBR to review last budget preparations after new government identifies overspend Read More »

MILAN (Reuters) – Italian fashion house Giorgio Armani managed to keep its operating profit steady last year and grow net sales by 6% at constant currencies, despite a ‘single-digit’ slowdown in revenues in the second half which continued this year. The weakening in sales observed through the first six months of 2024 reflects “an adjustment …

Armani posts ‘single digit’ sales drop in first half Read More »

LONDON (Reuters) – Ocado, the British online supermarket and technology group, is extending the maturity of its debt by raising 600 million pounds ($771 million) in bonds due for 2029 repayment to finance a tender offer of existing bonds due in earlier years. The group said on Monday it had launched an offering of 250 …

Britain’s Ocado moves to extend its debt maturities Read More »