(Reuters) -Fevertree Drinks trimmed its annual profit forecast on Tuesday after first-half earnings halved on higher glass costs and a wet summer in the UK, sending shares in the British tonic maker down as much as 7%. The company has been grappling with spiralling costs and shortages of glass bottles in Britain forcing it to …
Tonic maker Fevertree’s profit fizzles on high glass costs Read More »
By James Davey LONDON (Reuters) -Associated British Foods raised its full-year profit outlook on Tuesday for the second time in four months, driven by resilient trading at its Primark fashion business and a strong performance from its food operations in its latest quarter. Shares in the group were up 5% in morning trading, extending 2023 …
Primark owner AB Foods raises profit outlook again Read More »
By Mateusz Rabiega GDANSK (Reuters) -European discount retailer Pepco Group on Tuesday said that CEO Trevor Masters will resign from the role with immediate effect, without providing a reason for the decision. Andy Bond, chair of the board of directors, will assume the role of executive chair and will lead the overall management of the …
Pepco Group CEO resigns; firm lowers EBITDA guidance Read More »
By Bansari Mayur Kamdar (Reuters) – European shares were flat on Tuesday as losses in technology stocks offset gains by healthcare companies, while Germany’s biggest software maker SAP fell after U.S. peer Oracle’s disappointing revenue forecast. The pan-European STOXX 600 index was little changed as of 0812 GMT, while weakness in tech stocks weighed on …
European shares muted, SAP drags Germany’s DAX down Read More »
LONDON (Reuters) – Ithaca Energy agreed to acquire Shell’s 30% stake to take full control of the undeveloped Cambo oil and gas field in the West of Shetland region of the British North Sea, the smaller oil producer said on Tuesday. In late 2021, Shell pulled its support for Cambo citing economic reasons, after the …
Ithaca Energy acquires Shell’s stake in UK Cambo field Read More »
By Andy Bruce and David Milliken LONDON (Reuters) -Another record month for British pay growth put the Bank of England on track to raise interest rates once again, perhaps for the last time in the current cycle, as data on Tuesday also pointed to a cooling labour market. Average weekly earnings growth in the three …
UK wage growth points to another rate hike but jobless rate rises Read More »
LONDON (Reuters) – Primark expects most of its prices to be stable in its 2023/24 year, the boss of its owner Associated British Foods said on Tuesday. Primark’s 15% sales growth in its 2022/23 year was partly driven by some price increases. “There’s a little bit of carry over benefit next year (2023/24) from pricing …
Primark prices to be stable in 2023/24 year -AB Foods CEO Read More »
DUBLIN (Reuters) – Europe’s largest paper and packaging producer Smurfit Kappa and U.S. rival WestRock agreed to merge on Tuesday to create the world’s largest listed paper and packaging company worth nearly $20 billion Packaging firms benefited from a boom in demand for goods and e-commerce during COVID-19 lockdowns, but have struggled to match those …
Smurfit Kappa, WestRock agree merger to create $20 billion packaging giant Read More »
LONDON (Reuters) -Failed retailer Wilko will disappear from British high streets next month, as its entire chain of homeware stores are expected to close with the loss of at least 9,100 jobs, its administrators PwC said on Monday. Wilko, which started as a hardware store in 1930 in Leicester, central England, succumbed to Britain’s tougher …
All of UK retailer Wilko’s stores to shut, with over 9,000 job losses Read More »
(Reuters) -Scandinavian airline SAS, battling to emerge from bankruptcy protection, said on Monday it was extending the deadline for final bids for its equity fundraising by a week to Sept. 25 at the request of bidders. The Sweden-listed company reiterated that it aims to complete court approval of its U.S. court-supervised restructuring by the end …
Airline SAS extends deadline for equity fundraising Read More »
