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[1/2] Outgoing British Prime Minister Boris Johnson delivers a speech on his last day in office, outside Downing Street, in London Britain September 6, 2022. REUTERS/Hannah McKayDAVOS, Switzerland, Jan 19 (Reuters) - Former British Prime Minister Boris Johnson on Thursday urged allies to double down on sending military equipment to support Ukraine and speed up an end to the war with Russia. The former mayor of London was made an honorary citizen of Ukraine's capital on Wednesday night by Kyiv's mayor Vitali Klitschko in Davos. 'HUMBLE BACKBENCHER'Johnson dismissed suggestions that his activism on Ukraine could be seen as undermining current British Prime Minister, Rishi Sunak, as he ramps up military support. When asked whether one day he could see himself wandering the WEF again as British Prime Minister, Johnson remained diplomatic saying he was more than happy representing his constituents as a member of parliament.

☆ Online retailer Boohoo sales drop 11% in Christmas period
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +1 min

LONDON, Jan 19 (Reuters) - British online fashion retailer Boohoo (BOOH.L) said revenue fell 11% in its key Christmas trading period, hurt by delivery disruption and tough comparatives, as it broadly stuck to annual guidance. Its forecast for a 12% decline in annual revenue was slightly behind the downgraded guidance for a 10% drop it gave in September. The sales fall during the Christmas period, the four months to the end of December, was partly due to longer delivery times, said Boohoo, and its UK market, where sales were also down 11%, was against a tough comparative period, as last year, COVID-19 meant shoppers favoured online orders. Those retailers noted that store sales benefited from delivery problems in Britain, where postal strikes, made people worry about orders turning up in time. Reporting by Sarah Young; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

☆ Deliveroo achieves breakeven in second half
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +1 min

LONDON, Jan 19 (Reuters) - British meal delivery company Deliveroo (ROO.L) said it achieved breakeven in adjusted earnings in the second half, boosting its margin for the year to a better-than-expected -1%, and it expected continued improvement in 2023. Founder and chief executive Will Shu said Deliveroo had delivered "significant improvements in profitability whilst also still delivering growth in a difficult macroeconomic environment". The loss-making company, which pulled out of Australia and the Netherlands in 2022, had previously expected its earnings margin for the year to be between -1.2% and -1.5%. The company, which competes with Just Eat Takeaway (TKWY.AS) and Uber Eats, will report its 2022 results on March 16. ($1 = 0.8110 pounds)Reporting by Paul Sandle; Editing by Kate Holton and Sarah YoungOur Standards: The Thomson Reuters Trust Principles.

☆ UK inflation drops to 3-month low of 10.5% in December
▼ + stars: | 2023-01-18 | by ( David Milliken | ) www.reuters.com time to read: +2 min

[1/2] People carry shopping bags as they walk past Christmas themed shop displays on Regent Street in London, December 4, 2022. The drop in the headline rate of inflation from 10.7% in November was in line with economists' forecasts in a Reuters poll, and moves CPI further away from the 41-year high of 11.1% struck in October. "Food costs continue to spike with prices also rising in shops, cafes and restaurants," ONS chief economist Grant Fitzner said. Core CPI - which excludes energy, food, alcohol and tobacco, and which some economists view as a better guide to underlying inflation trends - was unchanged at 6.3% in December. Finance minister Jeremy Hunt said after the figures were released that high inflation was a "nightmare for family budgets", hurt business investment and led to strike action.

☆ UK pay growth speeds up again as BoE frets about inflation
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

Economists polled by Reuters had expected total pay and the ex-bonuses measure to rise by 6.2% and 6.3% respectively. The Bank of England is worried that the acceleration in pay growth will make Britain's high inflation rate - currently running above 10% - harder to bring down. Financial markets were mostly pricing in a half percentage-point hike in Bank Rate to 4.0% on Feb. 2 but they pointed to a more than one-in-three chance of a smaller 25 basis-point increase. Sterling rose after Tuesday's data and was up by 0.1% on the day against the U.S. dollar and the euro. Private-sector total pay rose by an annual 7.1% in the three months to November compared with 3.3% in the public sector, the ONS said.

"The economy grew a little in November with increases in telecommunications and computer programming helping to push the economy forward. Pubs and bars also did well as people went out to watch World Cup games," ONS statistician Darren Morgan said. The ONS said December's GDP would need to drop by about 0.5% for fourth-quarter growth to be negative when rounded to one decimal place, assuming no other revisions. Finance minister Jeremy Hunt said after the GDP data that "the most important help we can give is to stick to the plan to halve inflation this year so we get the economy growing again". Reporting by David Milliken and Andy Bruce; editing by Sarah Young and Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

☆ Wine and sequins help UK's M&S sparkle at Christmas
▼ + stars: | 2023-01-12 | by ( Paul Sandle | ) www.reuters.com time to read: +3 min

The retailer's high-end food offer traditionally appeals to shoppers at Christmas, and 2022 was no exception despite increasing economic pressure on consumers. As a whole, it reported a better-than-expected increase in like-for-like food sales of 6.3%. "Even in clothing, we saw people trading to value, but we also saw them trading to some of the premium products as well," he said. Tesco (TSCO.L), Britain's biggest supermarket, also reported stronger than expected Christmas sales on Thursday, with like-for-like sales up 7.2% in the six weeks to Jan. 7. Machin, however, said M&S was passing on less of the inflationary pressure to customers than its competitors and it managed to grow its food volume by 1.1% in December.

☆ ASOS identifies cost savings after Christmas sales slide
▼ + stars: | 2023-01-12 | by ( Sarah Young | ) www.reuters.com time to read: +2 min

ASOS said sales in its biggest market of Britain fell 8% in the period, hurt by Christmas delivery problems and a tough comparison against last year when the pandemic favoured online shops. Liberum analysts called recent trading weak, adding there had been "progress on new strategy but we remain wary." Britain is in the midst of a cost-of-living crisis and ASOS blamed weak consumer sentiment for its UK sales fall but many other retailers, such as clothes chain Next (NXT.L), have managed to grow sales over Christmas, showing that ASOS is more challenged than others. Data from IMRG showed that online retail sales in the UK fell for the first time ever last year, down 10.5% year-on-year. In Europe, ASOS did better, growing sales more than 6% in the period.

☆ Britain's Tesco to target value offers after strong Christmas
▼ + stars: | 2023-01-12 | by ( James Davey | ) www.reuters.com time to read: +3 min

[1/2] Clubcard branding is seen inside a branch of a Tesco Extra Supermarket in London, Britain, February 10, 2022. Tesco, like Sainsbury's, is absorbing some of its cost inflation rather than passing it all on to consumers. The group maintained its forecast for 2022-23 retail adjusted operating profit of between 2.4 billion pounds and 2.5 billion pounds ($2.9-$3.0 billion), down from the 2.65 billion pounds earned in 2021-22. It expects retail free cash flow of at least 1.8 billion pounds and profit from Tesco Bank of 120-160 million pounds. Shares in Tesco have fallen 17% over the last year, but are up 7% over the last month.

☆ UK's M&S reports strong Christmas sales in food and clothing
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +2 min

LONDON, Jan 12 (Reuters) - British retailer Marks & Spencer (MKS.L) reported strong Christmas sales, with demand for turkeys helping to deliver its highest ever share of the food market and partywear boosting its clothing sales. It benefited from improved availability of seasonal lines including turkeys, where it said it retained its leading market share for the third year running. As a whole, it reported a better-than-expected increase in like-for-like food sales of 6.3%. The retailer's strong performance adds to evidence that shoppers were determined to spend at Christmas despite inflation running at 10.7% and consumer confidence close to record lows. Tesco(TSCO.L), Britain's biggest retailer, also reported stronger than expected Christmas sales on Thursday, with like-for-like sales up 7.2% in the six weeks to Jan. 7.

☆ Britain's Tesco sticks with profit outlook after strong Christmas sales
▼ + stars: | 2023-01-12 | by ( James Davey | ) www.reuters.com time to read: +3 min

SummarySummary Companies UK Q3 like-for-like sales up 4.3%Six weeks to Jan 7 UK like-for-like sales up 7.2%Expects full year profit of 2.4-2.5 bln stgHas "good momentum" going into 2023LONDON, Jan 12 (Reuters) - Tesco (TSCO.L), Britain's biggest retailer, kept its full-year profit guidance after it joined rivals in reporting stronger than expected Christmas sales despite an escalating cost-of-living crisis. The supermarket group, which has a 27.5% share of Britain's grocery market, said on Thursday UK like-for-like sales rose 4.3% in its third quarter to Nov. 26 and were up 7.2% in the six weeks to Jan. 7. 2 supermarket group Sainsbury's reported a 5.9% rise in underlying sales for its Christmas quarter, while discounters Aldi UK and Lidl GB have also reported bumper Christmas sales. The group maintained its forecast for 2022-23 retail adjusted operating profit of between 2.4 billion pounds and 2.5 billion pounds ($2.9-$3.0 billion), down from the 2.65 billion pounds made in 2021-22. It expects retail free cash flow of at least 1.8 billion pounds and profit from Tesco Bank of 120-160 million pounds.

☆ ASOS revenue down 3% in key Christmas period
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +1 min

Britain is in the midst of a cost-of-living crisis but rival retailers with physical shops such as Next outperformed ASOS in the period as consumers prioritised festive spending and chose to visit stores rather than worry about delivery issues. ASOS said UK sales were down 8% in the period which it blamed on weak consumer sentiment, earlier cut-off dates for Christmas deliveries due to the delivery problems and a tough comparison against last year when the pandemic favoured online. Britain's delivery network was hamstrung during the final months of 2022 by more than a dozen days of postal walk-outs. European sales grew 6% in the period. Reporting by Sarah Young; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

☆ Darktrace cuts revenue outlook as customers turn cautious
▼ + stars: | 2023-01-11 | by ( ) www.reuters.com time to read: +1 min

LONDON, Jan 11 (Reuters) - British cybersecurity company Darktrace (DARK.L) cut its full-year revenue forecast on Wednesday after prospective customers turned more reluctant to run product trials due to the worsening macro-economic environment. It said ARR in the six months to end-December had increased by at least 36.5% to a minimum of $556.3 million, but there had been a noticeable slowdown in new customer additions recently. Chief Financial Officer Cathy Graham said profitability had been preserved, helped by operating efficiencies that it would maintain in its second half, resulting in an improvement to its full-year core-earnings margin forecast. "Clearly, however, the current macro-economic environment is creating challenges to winning new customers, with prospects more reluctant to run product trials and, in regions with historically higher conversion rates, those rates starting to decline," she said in a statement. Reporting by Paul Sandle; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

☆ Vodafone to receive $1.8 bln from sale of Hungarian unit
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies Sells Hungarian unit to 4iG and Hungarian stateLONDON, Jan 9 (Reuters) - British telecom group Vodafone (VOD.L) said it had agreed the sale of its Hungarian business to local IT company 4iG and the Hungarian state, and would receive a total cash consideration of 1.7 billion euros ($1.82 billion) from the deal. Vodafone said on Monday that the proceeds from the sale would be used to pay down debt. Under Read, Vodafone, once one of the biggest mobile operators in the world, has been selling assets to focus on its core European and Africa operations. The group's interim chief executive Margherita Della Valle said in a statement that the Hungarian disposal would increase competition and accelerate competition in Hungary. Under the plan, 4iG will hold a majority 51% stake while the Hungarian state will hold 49%.

☆ Western Europe's first satellite launch mission takes off
▼ + stars: | 2023-01-09 | by ( Paul Sandle | ) www.reuters.com time to read: +1 min

[1/6] Technicians work on Virgin Orbit's LauncherOne rocket, attached to the wing of Cosmic Girl, a Boeing 747-400 aircraft, ahead of UK's First launch, at Spaceport Cornwall at Newquay Airport in Newquay, Britain, January 8, 2023. REUTERS/Henry NichollsSummarySummary Companies Converted Boeing 747 takes off from Newquay, CornwallRocket will be deployed over the Atlantic in next hour'Start Me Up' mission will deploy nine small satellitesNEWQUAY, England, Jan 9 (Reuters) - Virgin Orbit's "Cosmic Girl" carrier aircraft took off from Newquay's spaceport in Cornwall, southwest England on Monday night, the initial stage of Western Europe's first ever satellite launch. More than 2,000 space fans cheered when the aircraft left the runway. The "horizontal" launch has catapulted the resort in southwest England - population 20,000 and famous for its reliable Atlantic waves - into the limelight as Western Europe's go-to destination for small satellites. ($1 = 0.8213 pounds)Additional reporting by Sarah Young; editing by Nick Macfie and Sandra Maler, Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

☆ Lidl GB expects more customers to switch from rivals after bumper Christmas
▼ + stars: | 2023-01-09 | by ( James Davey | ) www.reuters.com time to read: +2 min

Lidl GB, part of Germany's Schwarz retail group, said on Monday over 1.3 million more customers shopped at its stores in the seven days to Christmas Eve. Also unlike their traditional rivals, Aldi and Lidl are still opening lots of new stores. Last week Aldi UK reported a 26% increase in December sales. However, investment to keep a lid on prices has held back profit at both Aldi and Lidl. Lidl GB highlighted strong sales of Christmas vegetables sold for 19 pence a pack, Christmas puddings, prosecco, mulled wine and cheese.

☆ Taliban criticises Prince Harry over Afghan killings comment
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: +3 min

Harry's highly personal book "Spare" went on sale in Spain days before its global launch on Jan. 10. When asked about Harry's comments, a spokesperson for Britain's Ministry of Defence said: "We do not comment on operational details for security reasons." Representatives of Prince Harry did not immediately respond to a request for comment. As is usual for the royal family, spokespeople for King Charles and Prince William have declined to comment. Some of those who were willing to talk said they thought Harry had gone too far.

☆ UK's Prince Harry declines to commit to attending King Charles' coronation
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +1 min

LONDON, Jan 5 (Reuters) - Prince Harry declined to commit to going to the coronation of his father King Charles, according to a clip from an upcoming interview with broadcaster ITV, adding that staying silent about his issues with the British royal family would not help matters. Asked if he would attend the coronation if he is invited, Harry says: "There is a lot that can happen between now and then. "There's a lot to be discussed and I really hope that they are willing to sit down and talk about it." "I don't know how staying silent is ever going to make things better," Harry said. The ITV interview and a separate appearance on U.S. broadcaster CBS's "60 Minutes" programme will be shown on Sunday, two days before publication of Harry's autobiography.

LONDON, Jan 3 (Reuters) - British rail workers kicked off the new year with a week-long strike on Tuesday, disrupting the return to work for millions of commuters in the latest bout of industrial action to hit the country. Repeated rail strikes have crippled the network in recent months while nurses, airport staff, paramedics and postal workers have also joined the fray, demanding higher pay to keep pace with inflation that is hovering around 40-year highs, reaching 10.7% in November. "Due to industrial action, there will be significantly reduced train services across the railway until Sunday 8 January," Network Rail said. "Trains will be busier and likely to start later and finish earlier, and there will be no services at all in some places." Mick Lynch, the head of the RMT rail union, said the government seemed content for the strikes to go ahead.

☆ Britain’s broken egg industry shows the price of food inflation
▼ + stars: | 2022-12-19 | by ( James Davey | ) www.reuters.com time to read: +5 min

LONDON, Dec 19 (Reuters) - In Britain, the damage wrought by rampant inflation can be seen in the fate of the humble egg. With war in Ukraine driving energy and chicken feed costs higher, farmers say what they get paid is no longer enough, upending the economics of a key food staple. Driven by consumer demand, British egg producers have for years focused on free range, which now represents 70% of the market. That, combined with a cost-of-living crisis fuelled by soaring food and energy costs, limits their room for manoeuvre, retailers say. Yet egg producers say that while the supermarkets have raised retail prices and paid farmers more, that increase is not enough to cover exploding costs.

While governments worldwide are grappling with high inflation and low growth, UK policymakers are still rebuilding fiscal and political credibility following the brief, chaotic premiership of Liz Truss. Worries about growth are leading some investors to limit their holdings of the pound and British debt. Reuters GraphicsForeign investors have traditionally been attracted by Britain's strong rule of law, stable governance and thriving financial and professional services sector. In the latest data, up to the second quarter of this year, FDI represented more than half the net outflow - a result of strong UK investment abroad but weak inward investment too. Stephen Welton, executive chairman of major growth capital investor BGF, said attracting foreign investment was like a global competitive sport - one that Britain had previously excelled at.

☆ Britain's BT combines two units in $122 mln cost savings drive
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +1 min

BT is aiming to take fibre broadband to 25 million premises by 2026 in a race with rival Virgin Media O2 and smaller alternative networks. The company said the new unit BT Business would be formed by putting together its Global and Enterprise divisions and would be led by Bas Burger, the current CEO of BT's Global unit. Philip Jansen, BT's chief executive, said that the new structure would benefit corporate customers by improving innovation and delivery. The 100 million pounds of savings would come from combining the management teams, support functions, product portfolios and systems of the two units. ($1 = 0.8197 pounds)Reporting by Sarah Young; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

☆ Four dead after migrant boat capsizes off English coast
▼ + stars: | 2022-12-14 | by ( Peter Nicholls | ) www.reuters.com time to read: +6 min

"At 0305 (GMT) today, authorities were alerted to an incident in the Channel concerning a migrant small boat in distress," a government spokesperson said in a statement. Some British politicians say migrants from Albania - a European Union candidate - have not suffered persecution but are moving for economic reasons. "I'm sure the whole House will share my sorrow at the capsizing of a small boat in the Channel in the early hours of this morning and the tragic loss of human life," Sunak said. The refugee charity Care4Calais accused the government of doing nothing to prevent migrant deaths, which it said were "wholly unnecessary and preventable". Data compiled by the Missing Migrants Project showed 205 migrants had been recorded dead or missing in the English Channel since 2014.

☆ Britain braces for winter of strike action as nurses walk out
▼ + stars: | 2022-12-12 | by ( Sarah Young | ) www.reuters.com time to read: +4 min

Unions are seeking double-digit pay rises to keep pace with inflation that hit 11.1% in October, the highest in 41 years. Union estimates forecast more than 1 million working days will be lost in December, making it the worst month for disruption since July 1989. Walk-outs in rail by RMT members, which started in June, are the union's biggest action for over 30 years, while for nurses, it is the first ever national strike action in the Royal College of Nursing's (RCN) 106-year-old history. MORE PROMINENT UNIONSThe walk-outs end decades of relatively stable industrial relations in Britain, compared to European neighbours such as France and Spain. "I think the world that we're in is one where we get more prominent union activity," Pickering said.

☆ One killed, several missing after explosion on island of Jersey
▼ + stars: | 2022-12-10 | by ( William James | ) www.reuters.com time to read: +1 min

LONDON, Dec 10 (Reuters) - One person was killed and a number of others were missing after an explosion early on Saturday morning at a block of flats on the island of Jersey, off the coast of northern France. "Tragically we have one confirmed fatality," Robin Smith, Chief Officer of the States of Jersey Police, said in a video statement. Smith confirmed fire services had been called to the property on Friday before the explosion after residents had reported the smell of gas. He did not comment on the cause of the explosion, and said that would be subject to investigation. He said 20 to 30 people had been evacuated and that there were two "walking wounded" receiving hospital treatment.

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