FTSE 100 Live: Reeves faces MPs grilling, blue-chip stocks fall November 4, 2025 Welcome back to City AM live blog, This morning, Rachel Reeves took to Downing Street to lay the grounds for the Autumn Budget. In a speech that raised eyebrows across the City, she attempted to offshore the blame for the country’s economic woes to the previous Conservative government. The Chancellor laid out the economic choices [...]
Temu: UK sales and profit double as Shein court battle looms September 17, 2025 Sales and profit at the UK arm of Chinese online marketplace Temu almost doubled during its latest financial year, it has been revealed. For 2024, the division achieved a revenue of $63.2m (£46.3m), up from the $32.1m it achieved in 2023. New accounts filed with Companies House also show its pre-tax profit jumped from $2m [...]
Primark owner says larger stores to come under pressure from rates changes September 15, 2025 The boss of Primark’s parent firm has warned the Government that proposed business rates changes are “mistaken” and heap pressure on big stores on UK high streets. George Weston, the billionaire boss of Associated British Foods (ABF), told the PA new agency that the Labour Government “should not increase taxes on businesses any more” in [...]
FTSE 100 Live: Trainline stock soars, BP and Shell edge higher September 11, 2025 Good morning from the City AM liveblog team. Shares in Shell, BP, Playtech and Trainline were among the biggest risers in the London markets this morning, after the latter two reported earnings that sailed past analyst expectations. The government’s growth ambitions were dealt another hammer blow last night, after US pharma giant Merck pulled the [...]
ABF: Primark owner’s shares sink as sales slow at FTSE 100 giant September 10, 2025 Shares in Primark owner Associated British Foods (ABF) have plunged after posting what analysts branded a “mixed bag” of results. The FTSE 100 warned that challenging conditions were weighing on the company’s trading, listing consumer caution, geopolitical uncertainty and inflation as top factors. Shares plunged 13 per cent on the news to their lowest value [...]
FTSE 100 Live: Stocks edge up as Primark sales hold steady; Rachel Reeves to give speech to investors September 10, 2025 The FTSE 100 is netted a marginal gain on open as a sleuth of London-listed firms providing trading updates. The blue-chip index jumped 0.2 per cent on open to around 9,262.40. But this slightly trails its European counterparts where Germany’s DAX rose 0.4 per cent gain and Italy’s MIB and France’s Cac 40 0.3 per [...]
Breadmakers Hovis and Kingsmill merger agreed August 15, 2025 A deal to merge two of Britain’s biggest bread producers – Hovis and Kingsmill – has been agreed after months of talks. Associated British Foods (ABF), the owner of Kingsmill’s parent company Allied Bakeries, has agreed a deal with investment firm Endless, which owns Hovis to acquire the brand. The financial terms of the deal have not yet [...]
Breadmakers Hovis and Kingsmill butter up £75m merger July 26, 2025 Bread producers Hovis and Kingsmill are set for a historic merger with their owners expected to ink an agreement after months of discussion. Kingsmill, whose immediate parent Allied Bakeries is owned by London-listed Associated British Foods (ABF), and Hovis could benefit from up to £50m of annual cost savings from a merger. The proposed agreement, [...]
Hovis: Losses widen amid Kingsmill merger talks July 9, 2025 Losses have widened at bread maker Hovis amid ongoing merger talks with the owner or rival Kingsmill, it has been revealed. Hovis, which is backed by private equity firm Endless, saw its pre-tax losses go from £3.6m to £4.7m in the year to 28 September, 2024. New accounts filed with Companies House also show its [...]
ABF confirms plans to shut bioethanol plant despite last-minute government negotiations June 26, 2025 Associated British Foods has confirmed plans to shut its Yorkshire bioethanol plant despite the government entering formal negotiations to rescue the site, in a blow to Labour’s new industrial strategy. The food producer, which also owns the retail giant Primark, said it had now begun consultation with employees to effect an orderly wind-down, with purchases [...]