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The Latest Breaking News from Associated British Foods

BT reveals prices will be reviewed under efforts to offset £100m Budget blow

The group joins the likes of Sainsbury’s, Marks & Spencer and Primark owner Associated British Foods in revealing soaring costs from Budget measures.

Evening Standard

Primark boss says weight of Budget tax rises ‘falling on high street’

George Weston, the chief executive of Primark owner Associated British Foods, said it was preparing for a big jump in business costs.

Evening Standard

Primark earnings jump higher despite weather hit to summer ranges

Owner Associated British Foods reported a 53% rise in operating profits at Primark, to £1.1 billion over the year to September 14.

Evening Standard

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FTSE 100 Live 05 November: Vodafone merger boost, Primark owner rallies but ASOS posts big loss

The merger of Vodafone and Three today moved a step closer after the companies were told a huge 5G rollout could alleviate competition concerns.

Evening Standard

FTSE 100 Live 23 January: London top flight closes down two points after borrowing comes in below expectations

Low-cost airline easyJet today revealed a £40 million hit from the Middle East crisis but still reduced losses to £126 million in the final quarter of the year.

Evening Standard

UK food inflation may be gone by Easter, claims boss of major retailer

Upbeat comments by Associated British Foods CEO come as grocery price rises fall to single digits for first time in 18 months

The Guardian - UK

Primark drives strong sales at AB Foods as shoppers shrug off price hikes

Associated British Foods which also runs large grocery, ingredients and agriculture operations, said the backdrop is still ‘challenging’.

The Independent UK

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Primark owner upgrades profit outlook as shoppers seek holiday outfits

Associated British Foods says group sales rose by 16% with steeper prices helping to drive Primark’s growth

The Guardian - UK

UK fixed mortgage rates rise to seven-month highs – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

Primark owner Associated British Foods buys National Milk Records for £48m

NMR, which has its head office in Wiltshire, provides provides milk and cow health testing and data services for farmers, milk buyers and vets

Birmingham Post

FTSE 100 Live: ‘Unease is spreading across the banking sector again’; FTSE closes at 7,891.13

GSK, housebuilder Persimmon and the consumer products group Reckitt Benckiser are among the blue-chips updating investors today.

Evening Standard

Primark expects higher profits as people shop early for summer

Associated British Foods says six-month figures helped by stronger-than-expected clothing performance

The Guardian - UK

FTSE 100 Live: Pound tops $1.20 as Brexit NI deal reached, new Ofgem energy price cap revealed

Associated British Foods today said it had been boosted by better-than-expected trading at retail division Primark.

Evening Standard

Greater Manchester's lost supermarkets we no longer see on the high street

For many, these were the first places we ever shopped

Manchester Evening News

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The Guardian - UK

UK grocery inflation hits 14.7%; recession looms as housing market weakens – as it happened

UK households face £682 rise in annual grocery bill as prices soar, and there’s ‘no peak in sight’

Evening Standard

FTSE 100 Live: Food price inflation hits record 14.7%, Binance acquires crypto exchange FTX

Marks & Spencer today revealed a 24% drop in half-year profits and said its Ocado Retail joint venture will be loss making this year.

The Guardian - UK

Primark owner expects lower profits as energy bills rise by £100m

Associated British Foods warns of hit from soaring costs and drop in customer spending at fashion chain

Evening Standard

Associated British Foods appoints M&S finance boss Tonge as CFO

He replaces John Bason who will head up strategic advisory board at fast fashion retailer

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Manchester Evening News

Primark boss makes bleak confession about all of the items being stocked in stores

He's admitted to being full of 'regret'

Glasgow Live

Primark to raise prices amid cost of living crisis leaving shoppers 'gutted'

John Bason, finance director at Primark's parent company Associated British Foods said the clothing and beauty retailer were committed to 'affordability for everyone' despite the price hikes.

Daily Mirror

Primark boss says he 'regrets' decision to raise prices on clothing this year

Fashion giant Primark has a reputation for value, but now the retailer says it is being forced into a series of price hikes because the rising cost of living is hiking its own costs

Daily Mirror

Primark hints at new click and collect shopping ahead of website launch this month

Primark is preparing to launch a new website this month and the finance director of its parent company, Associated British Foods, says "click and collect" may be a possibility in the future

The Independent UK

Primark sales to jump 60% after pandemic recovery

Associated British Foods said its sales and profits are ‘strongly ahead’ of last year.

Daily Record

Primark to slash 400 shop floor jobs under major new restructuring proposals

Associated British Foods, which run Primark, have also stated they are launching a new website that will display more of their products.

Manchester Evening News

Primark to cut 400 shop floor jobs across UK stores amid major restructuring plans

It comes as Primark's Owner, Associated British Foods revealed a hit to trading as Omicron kept shoppers away

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