Reuters UK Business

LONDON (Reuters) -Ocado, the British online supermarket and technology group, forecast faster growth this year after an improved performance at its automated warehouse technology unit helped it deliver better-than-expected annual core earnings. Its shares rose 5% in early Thursday trading. FTSE 100-listed Ocado runs an online supermarket in Britain through a joint venture with Marks …

Ocado sees growth picking up as technology arm shines Read More »

By Matthias Inverardi and Linda Pasquini (Reuters) -Nivea maker Beiersdorf on Thursday forecast a slowdown in organic sales growth to a mid-single-digit percentage in 2024, after reporting a 10.8% increase in the past year. Shares were down 3.9% to 132.4 euros at 0816 GMT. Full-year sales rose to 9.5 billion euros ($10.3 billion) from 8.8 …

Beiersdorf warns of slowing sales growth Read More »

(Reuters) -Videogame maker Electronic Arts said on Wednesday it would reduce 5% of its workforce and expects to incur about $125 million to $165 million in charges as part of the restructuring plan. The company had about 13,400 people, with 65% located internationally as of March 31, 2023, according to a regulatory filing. (Reporting by …

Electronic Arts to lay off 5% of workforce Read More »

LONDON (Reuters) – The spending habits of wealthy Britons who are immune to the pressure of higher interest rates is making it harder to curb inflation, Bank of England (BoE) policymaker Catherine Mann said on Wednesday, according to the Financial Times. Mann told a Financial Times event that those on higher incomes who still had …

BoE’s Mann says rich consumers are making it harder to curb inflation Read More »

By Dagmarah Mackos (Reuters) -Universal Music Group will cut jobs and streamline operations to save 250 million euros ($271.03 million) by 2026, the company said on Wednesday, a month after a lucrative licensing deal with social media platform TikTok expired. The first phase of the plan, in effect immediately, targets savings of 125 million euros …

UMG targets 250 million euros in savings by 2026, flags job cuts Read More »

By Anirban Sen and David French NEW YORK (Reuters) -Fiserv and Amadeus IT Group are competing to acquire Shift4 Payments, a payments processor that has a market value of nearly $7 billion, according to people familiar with the matter. Fiserv and Amadeus are the two main contenders in a sale process that Shift4 has been …

Exclusive-Fiserv, Amadeus vie to acquire Shift4 Payments, sources say Read More »