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Search resuls for: "Associated British"


3 mentions found


Verizon turns on commercial private 5G in U.S.
  + stars: | 2021-06-10 | by ( Supantha Mukherjee | ) www.reuters.com sentiment -0.79   time to read: +2 min
REUTERS/Brendan McDermid/File PhotoVerizon Business (VZ.N) on Thursday launched its first commercially available private 5G network in the U.S. to offer businesses and government departments high-speed indoor or outdoor connectivity. Private 5G networks remove the need for businesses to jostle for speed with others on a public network and help enable data-intensive applications that use computer vision, augmented reality and machine learning to increase productivity. Verizon has been trialing private 5G with several customers, including Associated British Ports, and have partnered with the likes of Microsoft (MSFT.O) and Amazon (AMZN.O). The private 5G network, managed by Verizon, would keep all cellular traffic on the premises of the customer to increase security, while authorised remote users can still access applications. Verizon is seeing a lot of demand from financial institutions to increase speed of trading flows using 5G, and warehouses, which are planning to use robots and autonomous vehicles, Sampath said.
Persons: Brendan McDermid, Sampath Organizations: Verizon, REUTERS, Private, Associated, Associated British Ports, Microsoft, Corning, Tyndall Air Force Base, Marine Corps Air Station Miramar, Nokia, Samsung, Thomson Locations: New York City, U.S, Associated British, WeWork
AB Foods first half profit halves on Primark's Covid hit
  + stars: | 2021-04-20 | by ( ) www.cnbc.com sentiment -1.00   time to read: 1 min
The new Primark store at Downtown Crossing in Boston on Sept. 8, 2015. Associated British Foods on Tuesday reported a halving in first-half profit, hurt by Covid-19 lockdowns which shuttered its Primark fashion stores. The group, which also owns major sugar, grocery, agriculture and ingredients businesses, said it made adjusted profit before tax of 319 million pounds ($446 million) for the six months to Feb. 27, down from 636 million pounds reported for the same period of its 2019-20 year. Group revenue fell 17% to 6.3 billion pounds driven by the loss of retail sales as a consequence of the trading restrictions placed on Primark. Primark's adjusted operating profit slumped 90% to 43 million pounds.
Organizations: Associated British Foods Locations: Downtown Crossing, Boston
Primark's total loss from store closures could reach £1.05 billion ($1.43 billion), it said. Store closures could cost British fast-fashion giant Primark £1.05 billion ($1.43 billion) in lost sales, parent company Associated British Foods (AB Foods) announced Thursday. It attributed this to lockdown measures both in the UK and its international markets, ranging from restricted trading hours to compulsory store closures. But performance varied between stores, AB Foods said. Its CEO blamed compulsory store closures during the UK's national lockdowns.
Persons: Boris Johnson, Read, Tritton, Primark Organizations: Associated British Foods, Foods, Amazon, Arcadia, Debenhams Locations: British, Germany, Ireland, Netherlands, Portugal, Austria, England
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