UBS has lowered its price target for Associated British Foods (ABF) to 2,050p from 2,240p following the announcement of Primark's planned demerger, which is expected to complete by the end of 2027. While UBS views the spin-off as a positive strategic move that could unlock shareholder value by creating two focused businesses, near-term concerns remain due to Primark's weak like-for-like sales, which fell 2.7% in the first half, and margin pressure from heavy markdowns. UBS also downgraded its outlook on ABF's sugar division, forecasting losses in FY26 and FY27, leading to a 4-9% cut in group EBIT forecasts. The key to any share price recovery lies in stronger sales performance at Primark.
Sodexo has secured a major global contract to provide catering services across more than 130 Meta sites in over 30 countries. This large-scale partnership includes diverse locations such as headquarters, campuses, data centers, and conference centers...
Ethereum rose 3.17% to $1,923.53, outperforming Bitcoin's modest 0.18% gain to $64,588.87, signaling an early rotation toward large-cap altcoins. Despite this, overall market activity slowed, with declines in DeFi, stablecoin, and derivatives trading...
Gabriel Holding A/S has agreed to sell its European FurnMaster furniture manufacturing operations, including subsidiaries in Poland and Lithuania, to Leggett & Platt for an initial price of approximately EUR 9 million, with a possible additional paym...
A Gaza resident raised over £55,000 on GoFundMe to support his family but faced issues as the platform cannot pay directly to Gaza, forcing funds through intermediaries who failed to deliver the full amount. This highlights a broader problem in human...
Crypto investigator ZachXBT criticized all current hardware wallets as insecure and unreliable for signing transactions or storing significant funds. He highlighted Ledger as particularly problematic due to frequent updates that disrupt basic functio...
