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☆ Entain shares slide after deal to buy Poland's STS Holdings
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: 1 min

LONDON, June 14 (Reuters) - Entain (ENT.L) shares fell to the bottom of the London blue-chip index (.FTSE) on Wednesday after the betting company announced deal to buy Poland-based sports betting operator STS holdings (STH1.WA). Entain shares fell 10% to their lowest since March 29, in their biggest daily decline in four months. After the European market close on Tuesday, the sports-betting and gaming company said it will pay 24.8 Polish zlotys ($5.97) for each STS shares in a 750 million pounds ($946 million) deal, which will further its footprint in Europe. STS shares surged to December 2021 high, last up 12.3%. Reporting by Joice Alves; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.

Persons: Entain, Joice Alves, Amanda Cooper Organizations: Thomson Locations: Poland, . WA, Europe

☆ European shares open flat ahead of Fed decision; Entain plunges
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +1 min

June 14 (Reuters) - European shares opened flat on Wednesday ahead of a broadly priced-in pause in interest rate hikes by the U.S. Federal Reserve, while Entain shares fell sharply after announcing a deal. The pan-European STOXX 600 index (.STOXX) held steady at 463.49 points by 0709 GMT, with the travel & leisure index (.SXTP) falling 0.9%. Ladbrokes-owner Entain (ENT.L) plunged 10.0%, falling to the bottom of the STOXX 600 after it said on Tuesday it will buy Poland-based sports betting operator STS Holdings (STH1.WA) for 750 million pounds ($946 million),Traders have all but fully priced in the Fed holding rates at the 5.00%-5.25% range later in the day, while giving it a 63% chance of a rate hike in July, according to the CME FedWatch tool. The European Central Bank will hold its policy meeting on Thursday, where it is expected to hike rates by another 25 basis points to tame stubborn inflation. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Entain, Shreyashi Sanyal, Nivedita Organizations: U.S . Federal Reserve, Holdings, Traders, European Central Bank, Thomson Locations: Poland, . WA, Bengaluru

Under the terms, Vodafone will own 51% and Hutchison 49% of the combined group, which will be led by current Vodafone UK boss Ahmed Essam. The finance chief of Hutchison's Three UK, Darren Purkis, will take the same role in the new group. The combined operator will have about 27 million customers, overtaking BT's (BT.L) EE and VM O2, jointly owned by Telefonica (TEF.MC) and Liberty Global (LBTYA.O). Vodafone, which is currently Britain's third-biggest mobile operator, and fourth-placed Hutchison will have options which would allow Vodafone to acquire the Hong Kong-based conglomerate's 49% stake in the future. Shares in Vodafone, which fell to a 25-year low of 71 pence on Tuesday, rose 3.6% after the deal was announced.

Persons: CK Hutchison, Canning Fok, Ahmed Essam, Darren Purkis, Hutchison, Vodafone's Essam, Robert Finnegan, Gail Cartmail, Paul Sandle, Clare Jim, Kate Holton, Sharon Singleton, Kirsten Donovan Organizations: Vodafone, CK, HK, Hutchison, Hutchison's, BT's, VM O2, Telefonica, Liberty Global, Britain's Competition, Markets Authority, CMA, Unite, Thomson Locations: HONG KONG, Britain, Hong Kong, China, London

An internal Union Investment document seen by Reuters shows that the firm received just 30 responses to its outreach. Although consumer goods manufacturers are particularly exposed, other sectors that import goods associated with deforestation, including commodities houses and industrials companies, will also face scrutiny. Consumer goods makers are counting on technology such as satellites and artificial intelligence to help eradicate deforestation from their supply chains. Several large consumer goods companies say they are close to meeting their ambitious zero-deforestation goals. "The EU rules make deforestation a financial risk as well as an environmental risk."

Persons: Ueslei Marcelino, Henrik Pontzen, Pontzen, Janus Henderson, Jonathan Toub, haven't, Snorre Gjerde, Christophe Hansen, Magdi Batato, Kit Kat, Nestlé, David Croft, Reckitt's, Arild Skedsmo, Richa Naidu, Kate Abnett, Matt Scuffham, David Evans Organizations: REUTERS, Reuters, EU, Germany's, Investment, Unilever, ESG, Union Investment, Nestle, Pepsico, Danone, L'Oreal, KLP, Aviva, Fidelity International, Reckitt, UN Food and Agriculture Organization, Consumer, Thomson Locations: Uruara, Para State, Brazil, NBIM, Nescafe, London, Brussels

☆ Fact Check-Clip of Donald Trump boarding Air Force One filmed in September 2020
▼ + stars: | 2023-06-08 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

A clip of Donald Trump boarding Air Force One was filmed in September 2020, and not in June 2023 as claimed online. The video, filmed at night, shows former U.S. President Donald Trump walking up the steps to board the presidential plane, Air Force One, while his daughter Ivanka, her husband Jared Kushner and their children wait at the bottom of the stairs. The C-SPAN video shows Trump’s visit to Pittsburgh for a campaign rally on Sept. 22, 2020 at Pittsburgh International Airport, including boarding Air Force One afterwards. Trump can also be seen boarding Air Force One in a livestream uploaded by Right Side Broadcasting on Sept. 22, 2020 (timestamp 5.03.45s) (bit.ly/43rFZqI). The clip shows Donald Trump boarding Air Force One after a Sept. 22, 2020 rally in Pittsburgh.

Persons: Donald Trump, Ivanka, Jared Kushner, “, ”, Trump, Jared, Read Organizations: Air Force, TRUMP, SPAN, Pittsburgh International Airport, Right Side Broadcasting, New York Times, Agence France, Reuters Locations: Pittsburgh

☆ London stocks inch higher on mining and energy push; Vodafone slumps
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 up 0.1%, FTSE 250 flatJune 8 (Reuters) - UK's main stock indexes edged higher on Thursday, supported by a boost from mining and energy stocks, although a sharp drop in the shares of British mobile operator Vodafone capped gains. The resource-heavy FTSE 100 (.FTSE) was up 0.1% as of 0718 GMT, while the domestically-focused FTSE 250 (.FTMC) midcap index was little changed. Oil and gas (.FTNMX601010) and miners (.FTNMX551020) were the top sector gainers, while precious metals (.FTNMX551030) and chemicals (.FTNMX552010) took the worst hit. Wizz Air (WIZZ.L) gained 1.8% after the European low-cost airline forecast a net profit of 350 million euros to 450 million euros ($374.57 million to $481.59 million) in its current financial year. ($1 = 0.9344 euros)Reporting by Ankika Biswas in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Crest, Ankika Biswas, Rashmi Organizations: British, Vodafone, Reuters, Hutchison, HK, Wizz, Crest Nicholson Holdings, Thomson Locations: Bengaluru

☆ Exclusive: Vodafone and Hutchison to announce UK merger as soon as Friday
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

[1/2] FILE PHOTO: The company logo of CK Hutchison Holdings is displayed at a news conference in Hong Kong, China March 17, 2016. REUTERS/Bobby YipHONG KONG/LONDON, June 7 (Reuters) - Vodafone (VOD.L) and CK Hutchison (0001.HK) are in the final stages of agreeing to merge their British operations, with a long-awaited announcement expected as soon as Friday or early next week, three sources have told Reuters. Including debt the deal could be valued at around 15 billion pounds ($18.6 billion), according to analysts. The deal will face intense scrutiny from regulators who have previously opposed deals that reduce the number of networks in major markets from four to three. ($1 = 0.8061 pounds)Reporting by Clare Jim in Hong Kong and Paul Sandle in London; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

Persons: Bobby Yip HONG, CK Hutchison, Hutchison, Clare Jim, Paul Sandle, Kate Holton Organizations: CK Hutchison Holdings, REUTERS, Vodafone, CK, HK, Reuters, British, Hutchison, BT's, VM O2, Telefonica, Liberty Global, Thomson Locations: Hong Kong, China, Bobby Yip HONG KONG, London

☆ BT CEO pay to be frozen until retirement - Sky News
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

June 7 (Reuters) - BT Group's (BT.L) CEO Philip Jansen is to freeze his salary of 1.1 million pounds ($1.4 million) until he retires from Britain's largest telecoms group, Sky News reported on Wednesday. The BT Group chief's base pay will be maintained at the level it was set when he joined the company in 2019 and is expected to be published in the telecoms group's annual report due Thursday, according to Sky News. Jansen's annual salary had been fixed for five years upon assuming the role in 2019, which would have expired this year. His salary was to be renewed on a rolling basis until he eventually left the company, said a source to Sky News. BT Group did not immediately respond to a Reuters request for comment.

Persons: Philip Jansen, Patrick Drahi, Shreyaa Narayanan, Krishna Chandra Organizations: BT, Sky News, BT Group chief's, Franco, BT Group, Thomson Locations: Bengaluru

☆ Indivior opioid settlement makes purer M&A case
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 5 (Reuters Breakingviews) - Indivior (INDV.L) is one step closer to becoming a takeover target. Litigation risks have weighed down Indivior in the years following the company’s spinoff from Reckitt Benckiser (RKT.L) in 2014. The group still has lawsuits to settle over the same charges with insurers and patients. With its litigation risks easing, Indivior could soon lure larger cash rich pharmaceutical companies keen to access a market that is sadly showing no signs of decline. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Reckitt, Roche, Indivior, Aimee Donnellan, Neil Unmack, Streisand Neto Organizations: Reuters, Suboxone, AstraZeneca, U.S . Centers for Disease Control, Twitter, Toyota, Thomson Locations: U.S

☆ Telco tycoons’ UK bets look stuck underwater
▼ + stars: | 2023-05-25 | by ( Pamela Barbaglia | ) www.reuters.com time to read: +5 min

Set those complications aside, however, and his stake-building may have cost about 4.2 billion pounds overall since 2021. That’s according to Breakingviews calculations which use the share price from the day before each stake increase became public. The holding is now worth 3.6 billion pounds, implying a nearly 560 million pound or 13% loss. That’s mild compared with some of Vodafone’s investors. But UK consolidation would hardly move the needle as Vodafone is haggling to retain control of the merged entity.

☆ Fact Check-No proof Ukraine’s defence ministry tweeted Zelenskiy was ‘naked clown’
▼ + stars: | 2023-05-18 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

A fake screenshot of a Ukrainian Ministry of Defence tweet that criticises Ukrainian President Volodymyr Zelenskiy is being shared online. However, an advanced Twitter search produced no evidence that such a tweet exists on the verified account of Ukraine’s defence ministry (bit.ly/42EgDFv). Media outlets would likely cover the country’s defence ministry posting such strong wording about a prospective president. Reuters also found no evidence of the tweet existing within archived versions of the ministry’s verified Twitter profile (here). Search engines and social media searches produce no proof that Ukraine’s ministry of defence posted the tweet on its verified Twitter account.

☆ BT to reduce workforce by up to 55,000 jobs by 2030
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +1 min

LONDON, May 18 (Reuters) - BT Group (BT.L), Britain's biggest broadband and mobile provider, said on Thursday it would reduce its workforce by up to 55,000 jobs by the end of the decade to become a much leaner business. The announcement came after it met market expectations with a 5% rise in full-year adjusted core earnings of 7.9 billion pounds ($10 billion) after growth in networks and consumer offset a decline in enterprise. "New BT Group will be a leaner business with a brighter future," he said. He said BT had grown both pro forma revenue and core earnings for the first time in six years in the year to end-March, while navigating an "extraordinary macro-economic backdrop". The group said it expected to grow both revenue and core earnings on a pro forma basis this year.

☆ BT to cut up to 55,000 jobs by 2030 as fibre and AI arrive
▼ + stars: | 2023-05-18 | by ( Paul Sandle | ) www.reuters.com time to read: +2 min

By that time, the bulk of its full-fibre network build will be completed. But free cash flow (FCF) fell 5% to 1.3 billion pounds, at the lower end of its guidance, due to increased cash capital expenditure. Forecasts for free cash flow for 2024 were also lighter than analysts had expected. It has been investing heavily to build out its fibre network faster than rival Virgin Media O2 and smaller "alt nets". BT said it expected to grow both revenue and core earnings on a pro forma basis this year.

☆ UK equities rise on upbeat global mood, BT Group tumbles on weak cash flow
▼ + stars: | 2023-05-18 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

"There's clearly a lack of real strategy and it's not enough to just say we're going to cut costs. Vodafone Group Plc (VOD.L) earlier this week said it would cut 11,000 jobs globally over three years after it warned that a poor performance in its biggest market Germany would hit cash flow. The blue-chip FTSE 100 (.FTSE) rose 0.6%, reflecting an upbeat mood in global markets on hopes that Washington is edging closer to a deal to raise the U.S. debt ceiling and avert a default. Among other movers, luxury group Burberry Group Plc (BRBY.L) fell 6.2% as continued weakness in the United States overshadowed a stronger-than-expected fourth quarter sales driven by a rebound in China. EasyJet Plc rose 1% after the airline posted a first-half loss in line with its guidance.

☆ BT’s miss may spur big investors into action
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +2 min

LONDON, May 18 (Reuters Breakingviews) - Trumpeting massive job cuts is usually one way to boost a share price. The 14 billion pound telco said on Thursday it would shed 55,000 jobs over the next seven years, but shares slumped 8%. That will stretch the patience of Deutsche Telekom (DTEGn.DE) and Patrick Drahi’s Altice, which collectively control 30% of the UK group. The catch for Drahi and Höttges is that it’s not obvious what they should demand to reinvigorate BT’s share price. Still, if the two bigwigs decide to join forces, BT’s job cuts may yet move up to the company’s C-suite.

☆ Fact Check-Protest footage predates arrest of former Pakistan PM Imran Khan
▼ + stars: | 2023-05-11 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

Footage of a protest on a central London street predates the arrest of former Pakistan Prime Minister Imran Khan. The 13-second clip, which dates to at least April 2022, has been falsely presented as showing demonstrations in the British capital in May 2023 against Khan’s arrest in Pakistan. They’re kicking off at the arrest of the country’s former Prime Minister Imran Khan.”Similar posts can be seen on Facebook (here) and Twitter (here). Longer versions of the circulating clip can be seen in tweets from April 17, 2022 (here and here), which describe the scenes as relating to separate protests against another former Pakistan Prime Minister, Nawaz Sharif. The video shows a protest in London taking place more than a year before former Prime Minister Khan’s arrest.

☆ Fact Check-Video of migrants rushing back to Ciudad Juárez at border dates to at least March 2023
▼ + stars: | 2023-05-10 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

The at least two-month-old video is recirculating as the United States is preparing to end a COVID-19 border restriction known as Title 42. The video circulating depicts people crossing El Paso del Norte International Bridge into Ciudad Juárez (bit.ly/42JUKV7), (ibb.co/mHMRmr4), but dates to at least March this year. Reuters video shows the group trying to cross the bridge towards El Paso, Texas (here). Reuters addressed other miscaptioned footage falsely linked to the U.S.-Mexico border in May 2023 (here), (here). This footage showing migrants at El Paso del Norte International Bridge in Ciudad Juárez is not new, rather it dates to at least March 2023.

☆ Fact Check-Video shows people climbing Spain-Morocco fence, not US-Mexico border
▼ + stars: | 2023-05-05 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

A clip depicting people climbing a high border fence separating the Spanish city of Melilla in North Africa from Morocco traces to March 2022. The footage has been miscaptioned in social media posts claiming it was recorded at the U.S.-Mexico border as a COVID-19 border restriction known as Title 42 is due to end later this month. A video on Instagram features on screen text that says, “This is what the border really looks like. Many Republicans and a few Democrats fear its expiry will result in a rise in immigration to a level border authorities cannot manage. Videos in this clip were recorded in Spain’s Melilla border fence in 2022.

☆ Ending the retailers’ crisis has a high price tag
▼ + stars: | 2023-05-02 | by ( Aimee Donnellan | ) www.reuters.com time to read: +5 min

BARCELONA, May 2 (Reuters Breakingviews) - High-street retailers are facing a heavy bill to weather the cost-of-living crisis. The cost of heating stores and staff requests for pay rises are squeezing operating margins at top players like H&M (HMb.ST) and Next (NXT.L). Shrinking disposable income is making it hard for these retailers to boost sales to protect margins. Most bricks-and-mortar retailers trade on higher multiples than they did before the war in Ukraine sparked soaring inflation. But that leaves a squeezed middle of retailers like H&M exposed to the brunt of the retail crisis.

☆ Fact Check-Ocean pulled to Earth by force of gravity
▼ + stars: | 2023-04-27 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

The ocean is pulled down to Earth due to gravity, despite a viral post shared online falsely claiming that the planet’s oceans are held inside a “container,” with Antarctica forming the external ridge. The posts allude to flat earth conspiracies. OUR CONTAINER.”The ocean is pulled down to the irregular ellipsoid-shaped Earth due to gravity (here), however, and is not held together by containers on a flat surface. On Earth, per the National Oceanic and Atmospheric Administration (NOAA), “gravity pulls all objects ‘downward’ toward the center of the planet” (bit.ly/41XcxYq). The ocean is pulled to Earth due to gravity.

Cost inflation rose during the COVID-19 pandemic and was exacerbated by Russia's invasion of Ukraine, which sent energy prices to record highs last year. Energy costs have since dropped, however, while global prices for some commodities are rising more slowly. Companies like Nestle (NESN.S), Reckitt Benckiser (RKT.L) and Danone (DANO.PA) continued to raise prices sharply in the first quarter even though input costs are easing. First quarter price/mix, a basket of variables the company uses to help determine what prices to charge, rose 12.4% while sales volumes declined 4.5%. Similarly, Nestle increased its prices by 9.8% during the quarter and sales volumes - which the company calls real internal growth - fell only 0.5%.

☆ Fact Check-Claim Budweiser beverages were banned from Oktoberfest stems from satire
▼ + stars: | 2023-04-26 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

The claim that beverages by Budweiser, a brand owned by brewing company Anheuser-Busch, have been banned from the Oktoberfest beer festival in Munich, Germany stems from a satirical website, but some have mistaken it as authentic online. Budweiser has never been served at the beer festival, a spokesperson for the event told Reuters. “Budweiser Brands Won’t Be Welcome at Oktoberfest For The 1st Time in 75 Years,” reads one post (here) and (here). A spokesperson for Oktoberfest told Reuters that Budweiser brands have never been served at the beer festival. A spokesperson for the festival told Reuters that Budweiser, a lager brand, has never been served at the beer festival.

☆ Reckitt names Kris Licht as CEO, beats sales estimates
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 26 (Reuters) - Reckitt Benckiser (RKT.L) has named company insider Kris Licht as CEO designate to succeed Nicandro Durante, taking the helm by the end of the year after a transition period. Licht, who has served as president of Reckitt's health business and as chief customer officer since July 2020, will be appointed to the board as an executive director from June 1. Durante, a former BAT (BATS.L) chief executive, will stay with Reckitt until December "to ensure a smooth transition". The company, which makes Durex condoms and Lysol cleaning products, also reported like-for-like net revenue up 7.9% in the first quarter, beating analyst expectations of a 3.6% rise in consensus forecast provided by the company. Reckitt, which also makes Nurofen tablets, cold remedy Lemsip and Dettol hygiene products, now expects like-for-like net revenue growth of 3-5% for the year after beating sales expectations for several quarters in a row, helped by price increases.

LONDON, April 27 (Reuters) - Britain on Thursday set out long-awaited plans to crack down on problem gambling as it aims to bring regulations up to date with a rise in betting online and on smartphones. The reforms would give extra powers to gambling regulators to take down illegal betting sites and tackle unauthorised operators. Campaign group Charity Gambling with Lives, which supports families bereaved by gambling-related suicide, welcomed the changes but said they did not go far enough. It had called for an end to all gambling advertising and affordability checks at 100 pounds of monthly losses. Habits have changed significantly since then, with an exponential rise in online betting.

The blue-chip index (.FTSE) fell 0.3%, down for the third straight session, while the mid-cap FTSE 250 (.FTMC) shed 0.4% as of 0829 GMT. The FTSE 100 had a good run earlier this month, buoyed by strength in commodity stocks and defensives like pharmaceuticals. However, markets have taken to a wait-and-see mode as earnings kicked in, to assess the impact of monetary tightening on results. Oil and gas stocks (.FTNMX601010) rose 0.6% as crude prices gained on reports of falling U.S. crude oil and fuel inventories. Drax Group's shares (DRX.L) rose 3.8% after the power generator announced a 150 million pound ($187 mln) share buyback programme.

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