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☆ UK's Frasers plans to buy SportScheck assets out of administration
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +1 min

'SportScheck' store is seen closed due to the coronavirus disease (COVID-19) pandemic in Munich, Germany, February 5, 2021. REUTERS/Michaela Rehle/File Photo Acquire Licensing RightsNov 30 (Reuters) - British sports and fashion group Frasers (FRAS.L) said on Thursday it will seek to buy SportScheck's business and assets out of administration after the German sporting goods retailer filed for insolvency. Signa on Wednesday filed for self-administered reorganisation proceedings, and media reports followed on Thursday that SportScheck would also file for insolvency. Frasers confirmed SportScheck's administration in its statement and said it exercised its rights under its agreement with Signa to withdraw from the deal. However, the London-listed group said it intends to work with SportScheck's appointed administrator to purchase its business and assets.

Persons: Michaela Rehle, Frasers, Signa, SportScheck, SportScheck's, Sri Hari, Krishna Chandra Organizations: REUTERS, SportScheck, Retail, Sports, Sri, Thomson Locations: Munich, Germany, London, SportScheck, Bengaluru

[1/4] A United Auto Workers (UAW) union member wears a pin while picketing outside Ford's Kentucky truck plant after going on strike in Louisville, Kentucky, U.S. October 12, 2023. It is in discussions with GM about the parameters of a deal to include battery plant workers under a master labor agreement. Analysts at Wells Fargo estimated that Ford will lose about $150 million per week in core profit from the Kentucky plant strike. Some analysts said the decision to shut down Kentucky Truck and other high-profit Detroit Three operations is a sign that the endgame could be starting in the labor dispute. The tens of thousands of Ford workers with no retirement security."

Persons: Luke Sharrett, Shawn Fain, “ We’re, ”, Fain, We're, Ford, Jim Farley's, Farley, ” Ford, Arthur Wheaton, Stellantis, Kumar Galhotra, who's, Todd Dunn, who've, Dunn, Galhotra, David Shepardson, Joseph White, Abhirup Roy, Pushkala Aripaka, Shivansh, Amna, David Gaffen, Jamie Freed, Ben Klayman, Matthew Lewis Organizations: United Auto Workers, UAW, REUTERS, Rights, Detroit Three, Ford, Kentucky, General Motors, Chrysler, Detroit automakers, GM, Detroit, Cornell University, Reuters, Ford Bronco, EV, Thomson Locations: Ford's Kentucky, Louisville , Kentucky, U.S, F.N, Kentucky, Wells, Milan, Louisville, Ford's Michigan, Washington, Detroit, San Francisco, Bengaluru

☆ Apple unveils iPhone 15 Pro with titanium case, holds line on prices
▼ + stars: | 2023-09-12 | by ( Stephen Nellis | ) www.reuters.com time to read: +5 min

IPHONE 15 LAUNCHBoth the Pro and other iPhone 15 models will have a brighter display and a 48-megapixel camera as well as 100% recycled cobalt in their batteries. [1/6]New iPhone 15 and iPhone 15 Plus are displayed during the 'Wonderlust' event at the company's headquarters in Cupertino, California, U.S. September 12, 2023. Apple said that USB-C charging cables are coming to both its iPhone 15 and the charging case of its AirPods Pro devices. She said the shift "brought some differentiation to the iPhone Pro, because there's faster throughput for data transfer. The iPhone 15 costs $799, the iPhone 15 Plus starts at $899 and the Pro series starts at $999.

Persons: Apple, Jeff Williams, Loren Elliott, Carolina Milanesi, Milanesi, Greg Joswiak, Bob O'Donnell, Pro Max, Lisa Jackson, Stephen Nellis, Aditya Soni, Pushkala, Raechel, Yuvraj Malik, Peter Henderson, Lisa Shumaker Organizations: Apple, Huawei Technologies, Huawei, Securities Times, REUTERS, American Automobile Association, AAA, Creative, TECHnalysis Research, Pro, Counterpoint Research, Thomson Locations: CUPERTINO , California, Cupertino , California, China, U.S, United States, Bengaluru

☆ Thomson Reuters, Blackstone, others to sell $2.9 bln LSEG shares
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: 1 min

Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. REUTERS/Toby Melville Acquire Licensing RightsSept 6 (Reuters) - Investors in the London Stock Exchange Group (LSEG.L), including Blackstone (BX.N) and Thomson Reuters (TRI.TO), (TRI.N), are launching a sale of roughly 28.3 million shares worth about 2.3 billion pounds ($2.9 billion), bookrunners said on Wednesday. The consortium, which includes Canada's CPPIB and Singapore's GIC, intends to sell a total of about 43.1 million shares over time in the bourse operator. Thomson Reuters, parent of Reuters News, holds a minority stake in LSEG. ($1 = 0.8002 pounds)Reporting by Pushkala Aripaka in BengaluruOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, bookrunners, Singapore's GIC, Pushkala Organizations: London Stock Exchange, REUTERS, Blackstone, Thomson Reuters, Reuters, Thomson Locations: Canary Wharf, London, Britain, bourse, LSEG, Bengaluru

☆ Fitch places Gabon on 'rating watch negative' following coup
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +1 min

Soldiers of the Republican Guard stand on their armed pick-up in a street in Libreville, Gabon August 30, 2023 REUTERS/Scott Ngokila Acquire Licensing RightsSept 5 (Reuters) - Credit ratings agency Fitch said on Tuesday it has placed Gabon on "rating watch negative" (RWN), citing high political uncertainty in the Central African nation following a military coup last month. Fitch placed Gabon's 'B-' Long-Term Foreign-Currency and Local-Currency Issuer Default Ratings on RWN in an unscheduled review. It said the coup may have weakened Gabon's financial prospects by hurting the operational capacity of institutions responsible for its treasury and debt management, and also affecting the country's access to regional debt markets. "We assume Gabon will rely more on the regional market for financing at higher interest costs as the coup heightens the market's nervousness," Fitch said. The credit ratings agency added that a resumption of the country's IMF programme was also now unlikely.

Persons: Scott Ngokila, Fitch, Ali Bongo, Bongo, Pushkala, Shailesh Organizations: Republican Guard, REUTERS, Central, IMF, Thomson Locations: Libreville, Gabon, Central, West, Bengaluru

☆ UK's Lloyds in talks with Barclay family, Carlyle over Very Group - FT
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsSept 1 (Reuters) - Britain's Lloyds Banking Group (LLOY.L) is in talks with the Barclay family and U.S. private equity firm Carlyle (CG.O) over Very Group, an online retailer and financial services provider, the Financial Times reported on Friday. "The Very Group continues to perform well and is operating as normal with robust liquidity," a Very Group spokesperson said in an e-mail. Lloyds and Carlyle did not immediately respond to Reuters' requests for comment. The Barclay family could not be immediately reached. Reporting by Pushkala Aripaka and Saikeerthi in Bengaluru; Editing by Shailesh Kuber and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Barclay, Carlyle, Pushkala Aripaka, Shailesh Kuber, Maju Samuel Organizations: Lloyds Bank, REUTERS, Lloyds Banking Group, Financial Times, Telegraph, Lloyds, Thomson Locations: Saikeerthi, Bengaluru

☆ Pershing Square unveils new stake in Alphabet
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: 1 min

May 15 (Reuters) - Billionaire investor William Ackman has built a new stake in Alphabet (GOOGL.O) worth $1.1 billion, according to a regulatory filing on Monday. According to the filing, Ackman's hedge fund Pershing Square Capital Management owned 8.1 million class C shares and 2.2 million shares class A of Alphabet at the end of the first quarter. Reporting by Pushkala Aripaka in Bangalore Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Amazon to bring fantasy game 'Warhammer 40,000' onto screens
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +1 min

Dec 16 (Reuters) - Amazon.com (AMZN.O) will bring popular fantasy game "Warhammer 40,000" to film and television screens, after the tech giant's content unit reached an agreement with Games Workshop Group (GAW.L), the British game developer said on Friday. Tolkien's "Lord of the Rings" novels - "The Rings of Power", which set a record debut in September for a Prime Video series. UK-based Games Workshop said Amazon will develop its intellectual property into film and television productions, adding that it will also grant merchandising rights to the U.S. company, beginning with the "Warhammer 40,000" universe. Games Workshop makes tabletop fantasy and futuristic battle games including "Warhammer 40,000", set in the 41st millennium. Reporting by Pushkala Aripaka in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ BMW fined by UK watchdog over information request
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +2 min

[1/2] BMW logo is seen on a vehicle at the BMW manufacturing plant in Greer, South Carolina, U.S., October 19, 2022. REUTERS/Bob Strong/File PhotoDec 8 (Reuters) - The UK's anti-trust regulator fined German luxury carmaker BMW (BMWG.DE) 30,000 pounds ($36,519) plus a further daily penalty of 15,000 pounds on Thursday over a disputed information request related to an ongoing auto industry probe. BMW said in March it would respond to regulators' information requests but the CMA said that while the company's British unit had provided information, "the wider BMW Group has failed to comply fully with the CMA's legal request, and has claimed the CMA does not have jurisdiction." BMW said in an emailed statement that the "CMA does not have the legal power to compel foreign companies to produce documents held entirely outside the UK jurisdiction". The CMA said the daily penalty will continue to accumulate until BMW provides the requested information, or the watchdog issues an infringement decision, or closes the case.

☆ Christmas tracks bring cheer to music catalogue investor Hipgnosis
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +2 min

[1/2] Mariah Carey performs at the Global Citizen Concert in New York City, New York, U.S., September 24, 2022. REUTERS/Caitlin OchsDec 8 (Reuters) - Pop stars Mariah Carey and Michael Bublé's popular Christmas songs are bolstering Hipgnosis Songs Fund (SONG.L) in the run up to the holidays, as the London-listed music catalogues investor continues to capitalise on the boom in music streaming. "In the wider music market, people continue to listen to and pay for music irrespective of today's cost of living challenges," Mercuriadis said on Thursday. Hipgnosis said underlying net revenue grew 5.8% year-on-year to $65.1 million in the six months to September. Reporting by Pushkala Aripaka and Yadarisa Shabong in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ UK retailer Next to buy collapsed rival Joules - media reports
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +1 min

Dec 1 (Reuters) - British fashion chain Next Plc (NXT.L) has secured a deal to buy collapsed retailer Joules (JOUL.L) out of administration, according to media reports on Thursday. Before Joules went into administration, Next was in talks with the company over a potential 15 million pound equity investment, but talks were eventually terminated. Last month, some reports said South African fashion retailer TFG (TFGJ.J), the owner of British brands such as Phase Eight, Hobbs, Whistles and Damsel, was also in the race to buy Joules. loadingNext, TFG, M&S, Frasers and Joules' administrator, Interpath Ltd, did not immediately respond to Reuters' requests for comment. TFG's chief executive on Wednesday had declined to comment on reports that it was buying Joules.

☆ AstraZeneca boosts cancer portfolio with $320 mln Neogene deal
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +2 min

Nov 29 (Reuters) - AstraZeneca (AZN.L) will acquire biotechnology company Neogene Therapeutics for up to $320 million, the London-listed drugmaker said on Tuesday, seeking to build its pipeline of cell-based cancer treatments. Though AstraZeneca's oncology portfolio accounted for more than a third of the company's revenue last year, it does not have an approved cell-based cancer therapy and is behind rivals such as Novartis (NOVN.S) and Gilead (GILD.O). Neogene's approach goes one step further in that its experimental T-cell receptor therapies seek to target DNA mutations specific to tumours, not only certain proteins on the surface of cancer cells. Linnemann founded Neogene in the Netherlands in 2018 along with the Netherlands Cancer Institute's Ton Schumacher. AstraZeneca will make an initial payment of $200 million to Neogene, with a further $120 million dependent on the company meeting certain targets.

[1/2] HSBC logo is seen on a branch bank in the financial district in New York, U.S., Aug. 7, 2019. REUTERS/Brendan McDermid/File PhotoLONDON, Nov 29 (Reuters) - HSBC (HSBA.L) has agreed to sell its business in Canada to Royal Bank of Canada (RY.TO) for $13.5 billion Canadian dollars ($10.04 billion) in cash. Chinese insurance company Ping An Insurance Group has been pushing HSBC to split off its Asian business to boost returns. "We decided to sell following a thorough review of the business, which assessed its relative market position within the Canadian market and its strategic fit within the HSBC portfolio," Chief Executive Noel Quinn said. Analysts had valued HSBC's Canada business in the range of C$8 billion to C$10 billion.

☆ UK begins investigation into Apple, Google's mobile browser dominance
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +1 min

Nov 22 (Reuters) - Britain's competition watchdog has launched an in-depth investigation into the market dominance of Apple (AAPL.O) and Google's (GOOGL.O) mobile browsers, months after the regulator began considering a probe. "Many UK businesses and web developers tell us they feel that they are being held back by restrictions set by Apple and Google," said Sarah Cardell, interim chief executive of the CMA, in a statement. In response to the CMA's June plans, Google had said it would continue to work with the watchdog. Apple said on Tuesday it would "constructively" engage with the CMA to explain how its approach "promotes competition and choice, while ensuring consumers' privacy and security are protected." Reporting by Pushkala Aripaka in Bengaluru and Paul Sandle in London; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Google said its Android mobile operating system gave users a greater choice of apps and app stores than any other mobile platform. "It also enables developers to choose the browser engine they want, and has been the launchpad for millions of apps," a spokesperson said. "We're committed to building thriving, open platforms that empower consumers and help developers build successful businesses." Apple said it would "constructively" engage with the CMA to explain how its approach "promotes competition and choice, while ensuring consumers' privacy and security are protected." U.S. tech giants, including Google's owner Alphabet and Apple, are drawing increasing attention from competition regulators in Brussels, London and elsewhere.

☆ GSK to stop selling blood cancer drug Blenrep in United States
▼ + stars: | 2022-11-22 | by ( Pushkala Aripaka | ) www.reuters.com time to read: +2 min

GSK said access to Blenrep in other countries where it is marketed is unaffected, including across the European Union. The company is still discussing the latest clinical data with EU health authorities, a GSK official said. The drug was given speedy approval by the FDA in 2020 and approved for patients with relapsed or refractory multiple myeloma who received at least four previous therapies. Last year the drug achieved 89 million pounds ($105 million) in global sales, about two thirds of which was from the United States. Blenrep belongs to a category of treatments called antibody drug conjugates, which are engineered antibodies that bind to tumour cells and then release cell-killing chemicals.

☆ UK lenders seek more data as consumers squeezed, Experian says
▼ + stars: | 2022-11-16 | by ( Pushkala Aripaka | ) www.reuters.com time to read: +2 min

Experian's key customers include banks, non-traditional lenders and insurance providers, which use its credit reports and scores to analyse and make decisions around credit risk, fraud prevention and lending terms. Data on Wednesday showed British inflation hit a 41-year high in October, while figures last month showed lending to British consumers rose in September by less than expected, suggesting lenders and borrowers are becoming more cautious. Experian retained its annual outlook, despite flagging tougher economic conditions ahead, sending its shares up about 2% by 0915 GMT. The company's total benchmark operating profit rose 8% to $873 million for the six months ended Sept. 30. Reporting by Pushkala Aripaka and Sinchita Mitra in Bengaluru; Editing by Sherry Jacob-Phillips and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Experian posts stronger profit, flags changing lender behaviour in UK
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: 1 min

Nov 16 (Reuters) - Experian (EXPN.L) posted a higher first-half profit on Wednesday as the world's largest credit data firm was boosted by steady demand for borrowing across its markets amid a cost-of-living crunch in the UK. The London-listed company said volatility in Britain's economic policy led to some changes in its clients' behaviour, with lenders generally focusing more on risk-based analysis and tweaking their criteria for new customer acquisition. (This story has been corrected that say that Experian is the world's largest credit data firm, not credit card firm in first paragraph)Reporting by Pushkala Aripaka and Sinchita Mitra in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

The news marks a second setback for GSK's oncology portfolio this week, after the company on Monday revealed its blood cancer drug Blenrep failed to outperform an older therapy in a key study, calling into question Blenrep's existing U.S. approval. Zejula belongs to a family of drugs called PARP inhibitors - which include AstraZeneca (AZN.L) and Merck's (MRK.N) Lynparza and Clovis Oncology's (CLVS.O) Rubraca. In September, GSK withdrew the use of Zejula in certain ovarian cancer patients who had previously undergone three or more chemotherapy regimens. For GSK, Zejula's use in the first-line setting - as a therapy designed to keep cancer at bay in ovarian cancer patients who have partially or fully benefited from platinum-based chemotherapy, remains a priority. Zejula - which GSK acquired through its $5.1 billion acquisition of U.S. cancer specialist Tesaro in 2018 - generated a total of 120 million pounds ($141.4 million) last quarter.

☆ Sanofi, GSK score late win with EU COVID booster approval
▼ + stars: | 2022-11-10 | by ( Ludwig Burger | ) www.reuters.com time to read: +3 min

The shot is based on lab-made viral proteins provided by Sanofi and an adjuvant ingredient from GSK that increases the immune response. Adapting the older protein technology chosen by Sanofi and GSK to a new virus variant requires several months longer than under the mRNA approach, which saw a breakthrough during the pandemic. Work on the shot by Sanofi and GSK, two of the world's largest vaccine makers by sales, was delayed repeatedly. The partners later pivoted to targeting the Beta variant, requiring months in additional development time. While the shot tested at the time was bivalent - meaning it was based both on original Wuhan strain of the virus and Beta - Sanofi and GSK later focused on a monovalent shot based on Beta only.

☆ UK approves Pfizer-BioNTech's COVID booster targeting BA.4/5
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +1 min

Nov 9 (Reuters) - Britain's health regulator on Wednesday approved a COVID-19 booster from Pfizer Inc (PFE.N) and partner BioNTech SE (22UAy.DE) targeting the Omicron BA.4 and BA.5 sub-variants and the original coronavirus strain. The UK's Medicines and Healthcare products Regulatory Agency (MHRA) said the vaccine was approved for use as a booster dose in people aged 12 years and older after it was found to meet safety, quality and effectiveness standards. "All approved COVID booster vaccines help to improve the protection obtained from earlier doses of the vaccine and help give longer-term protection against getting seriously ill from COVID-19," according to the MHRA. Pfizer and BioNTech last week said their so-called bivalent COVID-19 vaccine tailored for BA.4/5 produced a strong antibody response in older adults than the original shot after one month, and in October said it generated a strong immune response. Reporting by Pushkala Aripaka in Bengaluru; Editing by Shinjini Ganguli and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ GSK's blood cancer drug fails main goal of trial, shares fall
▼ + stars: | 2022-11-07 | by ( Pushkala Aripaka | ) www.reuters.com time to read: +2 min

SummarySummary Companies Data calls into question existing drug approval -analystsGSK in talks with health authorities, other trials continuingShares fall 3%Nov 7 (Reuters) - GSK's (GSK.L) blood cancer drug Blenrep failed the main goal of a late-stage study designed to show it was better than an existing treatment on the market, the company said on Monday. In April, the company agreed to buy U.S. drug developer Sierra Oncology, gaining access to its main experimental drug for a rare blood cancer and complementing GSK's Blenrep. In the trial, Blenrep was compared with a combination of pomalidomide and low doses of the steroid dexamethasone. Pomalidomide was developed by Celgene, now part of Bristol-Myers Squibb , and was approved in 2013 as a treatment for multiple myeloma. The drug belongs to a promising category of treatments called antibody drug conjugates, which are engineered antibodies that bind to tumour cells and then release cell-killing chemicals.

☆ Aston Martin flags hit to margins, deliveries from supply chain snags
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

[1/2] An Aston Martin logo is seen at a dealership in central London, Britain August 29, 2018. REUTERS/Henry NichollsNov 2 (Reuters) - British luxury carmaker Aston Martin (AML.L) on Wednesday warned that higher costs from global supply chain and logistical disruptions would hurt its margins, and lowered its wholesale delivery volume outlook for 2022. "Whilst (supply chain issue) has created short-term impacts on our performance, I am confident that with the actions we are taking, we will exit the year in a stronger position to deliver on our goals for 2023 and beyond," Chief Executive Officer Amedeo Felisa said. The London-listed company now expects to deliver 6,200-6,600 vehicles this year from more than 6,600 vehicles forecast earlier. Reporting by Pushkala Aripaka in Bengaluru; Editing by Dhanya Ann Thoppil and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ UK's Royal Mail pauses access to online service after glitch
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies Customers could see information on other users' ordersClick and drop website temporarily disabledRoyal Mail says fix "highest priority"Nov 1 (Reuters) - Royal Mail on Tuesday temporarily stopped access to its online postage and parcel tracking service after reports some customers were able to see information on other users' orders, the British company said. The problem seems to have started around 1300 GMT, according to a website tracking the developments, but Royal Mail, owned by International Distributions Services (IDSI.L), did not give details of how many customers' data may have been compromised nor how long it might take to bring the website back online. "We fully understand and apologise for the inconvenience caused by this. Royal Mail's "click and drop" service allows customers to pay for postage online, print labels, and track parcels and posts once they have been dropped off, and is used by individuals and businesses. Reporting by Pushkala Aripaka in Bengaluru; Editing by Maju Samuel and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ British furniture retailer Made.com fails as consumer squeeze bites
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 1 (Reuters) - British online furniture retailer Made.com (MADE.L) said it would appoint administrators after it ran out of cash, becoming one of the first retailers to fail as a result of the squeeze on household budgets this year. The group said on Tuesday it intended to appoint administrators after talks to find a buyer failed. The online retailer grew during the pandemic when shoppers stuck at home in lockdowns spent money on sofas, coffee tables, lamps and the other items it sold, and it listed in London in June 2021. But this year, Britain's economy has tanked, and retailers across the board are now bracing for a difficult period. Made.com said its shares had been suspended from trading and would in due course be cancelled.

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