Higher price of milk warning issued by Cravendale maker Arla Foods amid shortage August 28, 2024 Arla Foods, the maker of brands including Cravendale, Skyr and B.O.B milk, has warned that customers will face higher prices in the coming months amid a shortage of milk on a global level. The company said it “anticipates that volatile market conditions driven by geopolitical tension and uncertainty” will continue but that a positive trend [...]
Focusrite: Music tech firm’s bottom line hit by shipping and logistical woes August 28, 2024 Shares in UK-based music software company Focusrite plunged 16.7 per cent after it reported that, while demand for its products remains strong, shipping and logistics challenges are squeezing its bottom line. Revenue is expected to come in around £157m, in line with current market expectations, as overall demand for its suite of audio tech products [...]
UK financial regulator to review pure protection insurance market August 28, 2024 The City watchdog has announced a probe into the sale of pure protection insurance products amid concerns that "competition is not working well in the market".
Pharma giants GSK, Pfizer and Sanofi granted supreme court hearing in Zantac cancer lawsuits August 28, 2024 Delaware’s top court is set to hear an appeal from GSK and other pharmaceutical giants to throw out over 70,000 lawsuits alleging that the now-discontinued heartburn drug Zantac caused cancer. The companies, which also include Pfizer and Sanofi, are challenging a lower court ruling that allowed expert testimony claiming Zantac causes cancer – a link [...]
Naked Wines ‘in much better shape’ despite further losses August 28, 2024 Online wine seller Naked Wines has reported a slump in profit and a higher loss despite “significant strides” made over the past few months to restructure the business. Total sales fell by 18 per cent year on year to £290m in the 52 weeks ended 1 April 2024, while the company’s statutory loss before tax widened [...]
Prudential hopes sluggish first half won’t stand in the way of ambitious targets August 28, 2024 The firm reported that new business profit fell three per cent in Hong Kong compared to last year, when there was strong growth in the wake of the pandemic.
Incoming HSBC boss weighs middle management shake-up August 28, 2024 HSBC's incoming chief executive is reportedly considering measures like removing layers of middle management in a sign that he is looking to streamline Europe's biggest bank.
St James’s Place: How high fees hide the wealth manager’s real performance August 28, 2024 Investors who want to know how a St James’s Place fund compares to any other vehicle in the market have a problem: they just can’t do that. Traditionally, funds can be compared by taking into account the performance of their assets, minus the fees on the fund, and comparing that with other funds in their [...]
What role does foreign talent have in some of Britain’s fastest-growing companies? August 28, 2024 Foreign-born talent has once again been found leading a significant portion of the UK’s fastest-growing companies.
Kurt Geiger: London luxury brand enjoys Taylor Swift Eras Tour boost amid record handbag sales August 28, 2024 A surge in demand for denim handbags and footwear linked to Taylor Swift‘s global Eras Tour have helped sales at luxury brand Kurt Geiger jump by 35 per cent since the start of its latest financial year. The London-headquartered business said that Western and Americana-themed products have helped boost its turnover further between February and [...]