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Westpac to layoff 300 workers in business and retail unit, says trade union
British supermarket Waitrose cuts prices on 200 products
Date: June 12, 2023
LONDON (Reuters) – British supermarket group Waitrose said on Monday it had reduced the price of more than 200 products as part of a 100 million pound ($126 million) plan announced earlier this year in the fight to retain customers struggling with high inflation. Food prices are up more than 19% over the last year,...
World shares edge up as Fed pause bets bolster sentiment
Date: June 9, 2023
NEW YORK/LONDON (Reuters) -U.S. shares struck new highs for the year on Friday, setting world stocks up for gains for the week, as rising bets that the Federal Reserve will skip a rate hike next week overshadowed worries about U.S. markets being drained of cash. Helped by a 5.7% surge in Tesla Inc, the S&P...
German media group Axel Springer eyes AI acquisitions
Date: June 9, 2023
German media group Axel Springer eyes AI acquisitions BERLIN (Reuters) – German media giant Axel Springer will establish a dedicated mergers-and-acquisitions team to look at firms specialising in artificial intelligence, CEO Matthias Doepfner said in an internal podcast to employees obtained by Reuters. The M&A competence centre “needs to entirely focus on acquisitions – early-stage...
Two-speed economy in Sweden, central bank business survey shows
Date: June 9, 2023
Two-speed economy in Sweden, central bank business survey shows STOCKHOLM (Reuters) – Sweden’s economy is split between export and manufacturing businesses which are doing well and retail-facing firms which are having a hard time, a regular survey by the central bank showed on Friday. “The business sector is clearly divided, both in terms of its...
Tesco reported to competition watchdog by consumer group over pricing concerns
Date: June 9, 2023
Tesco reported to competition watchdog by consumer group over pricing concerns LONDON (Reuters) -Tesco, Britain’s biggest retailer, has been reported to the competition regulator by consumer group Which? over its failure to provide detailed pricing information on its loyalty card offers. With UK food inflation close to record highs, Britons are shopping around and comparing...
AstraZeneca signs $2 billion agreement with Quell to develop cell therapies
Date: June 9, 2023
AstraZeneca signs $2 billion agreement with Quell to develop cell therapies (Reuters) – AstraZeneca said on Friday it had signed an agreement with Quell Therapeutics potentially worth more than $2 billion to develop cell therapies that could cure autoimmune diseases. The agreement includes developing, manufacturing and commercialising cell therapies that have the potential to be...