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The Latest Breaking News from Associated British Foods

FTSE 100 thrives but tariff threat hurts Europe

US President Donald Trump on Saturday said major trading partners Mexico and the EU would face a 30% tariff starting next month.

Evening Standard

Britain’s biggest biofuel plant could close over impact of UK-US trade deal

ABF threatens to shut Vivergo site in Hull in September amid warnings bioethanol industry could collapse

The Guardian - UK

Baking a deal? Hovis and Kingsmill owners in talks about historic merger

Associated British Foods’ sale of Allied Bakeries would bring together two of the UK’s biggest breadmakers

The Guardian - UK

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Hovis and Kingsmill owners in takeover talks about historic merger

A deal between the bread-making titans could potentially draw the attention of competition regulators

The Independent UK

Kingsmill owner confirms talks with Hovis parent company over bread takeover

Associated British Foods said its Allied Bakeries business ‘continues to face a very challenging market’ and that it is in talks with Hovis’s owner.

Evening Standard

Consumer caution dampens Primark results as owner ABF reports profits hit

ABF group revenue was down 2% at $12.7 billion, and adjusted profit before tax was also down 10% from $1.2 billion the previous year to £818 million $1.09 billion.

Fortune

Around 150 jobs at risk as ABF warns bioethanol plant could close

The Vivergo fuels site in Saltend, near Hull, swung to a loss in recent months after it cut production levels in light of low bioethanol prices.

Evening Standard

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Primark says it is not raising prices despite tax and wage cost hikes

It came as parent firm Associated British Foods said it saw ‘weaker sales’ across the budget fashion chain’s UK and Ireland stores.

The Independent UK

Primark Boss Resigns After Inappropriate Behaviour Allegation

Primark chief executive Paul Marchant has resigned following a company investigation into his behaviour toward a woman "in a social environment", the budget fashion chain's owner Associated British Foods (ABF) announced Monday.

International Business Times

Who is Paul Marchant? Primark boss steps down after allegations of inappropriate behaviour

Under his leadership, Primark launched the Supporting Women for Life initiative

Evening Standard

Primark boss steps down over inappropriate behaviour allegation

Paul Marchant “acknowledged his error of judgement”, said Primark owner Associated British Foods on Monday.

Euronews

Primark boss Paul Marchant resigns over inappropriate behaviour

The retailer’s parent firm Associated British Foods said the chief executive admitted to an ‘error of judgment’.

Evening Standard

Primark boss Paul Marchant quits over ‘behaviour towards woman’

Marchant had led the fast fashion chain since 2009

The Independent UK

Primark boss admits ‘error of judgment’ and resigns after woman’s allegation

Paul Marchant accepts behaviour fell below standards expected at owner Associated British Foods

The Guardian - UK

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Evening Standard

Primark owner to shed light on high street Christmas trading

Associated British Foods (ABF) will also reveal whether the consumer group has been affected by recent weakness in sugar prices.

Evening Standard

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.

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Evening Standard

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.

The Guardian - UK

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 Independent 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 Guardian - UK

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

Birmingham Post

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

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