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British Business - Oct. 22

PRESS DIGEST-British Business - Oct. 22 Oct 21 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times - British engineering company Ricardo RCDO.L said it is divesting its defence business as part of a five-year strategic shift to become an "engineering consultancy in environmental and energy transition".
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Ocado lines up ex-Microsoft executive to take over as chairman, Sky News says

UPDATE 1-Ocado lines up ex-Microsoft executive to take over as chairman, Sky News says Adds details from report in paragraph 2, Ocado's reply in paragraph 3 Oct 21 (Reuters) - Ocado Group OCDO.L is lining up Adam Warby, a former Microsoft executive, to replace Rick Haythornthwaite as the grocery technology company's chairman, Sky News reported on Monday.
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Ocado lines up ex-Microsoft executive to take over as chairman, Sky News says

Ocado lines up ex-Microsoft executive to take over as chairman, Sky News says Oct 21 (Reuters) - Ocado Group OCDO.L is lining up Adam Warby, a former Microsoft executive, to replace Rick Haythornthwaite as the grocery technology company's chairman, Sky News reported on Monday. Warby currently serves as the chair of executive search firm Heidrick & Struggles HSII.O and as a senior advisor to KKR, a U.S.-based investment firm.
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Ocado Group Lines Up Ex-Microsoft Exec Adam Warby As Next Chairman- Sky News

BRIEF-Ocado Group Lines Up Ex-Microsoft Exec Adam Warby As Next Chairman- Sky News Oct 21 (Reuters) - OCADO GROUP LINES UP EX-MICROSOFT EXEC ADAM WARBY AS NEXT CHAIRMAN- SKY NEWS Source: https://tinyurl.com/zz4kusye
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UK supermarket sales growth picks up as consumers start Christmas shopping

UK supermarket sales growth picks up as consumers start Christmas shopping UK supermarket sales up 4.7% in four weeks to Oct. 5 -NIQ Households spreading cost of Christmas General merchandise sales return to growth Ocado and M&S are fastest growing grocers Asda remains the laggard By James Davey LONDON, Oct 16 (Reuters) - Sales growth at British supermarkets picked-up over the last month, helped by consumers starting to make purchases for Christmas, industry data showed on Wednesday.
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Adidas AG, Covivio SA, L'Oreal

EUROPE RESEARCH ROUNDUP-Adidas AG, Covivio SA, L'Oreal Oct 16 (Reuters) - Securities analysts revised their ratings and price targets on several European companies including Adidas AG, Covivio SA and L'Oreal, on Wednesday. HIGHLIGHTS * Adidas AG ADSGn.DE : RBC raises target price to EUR 265 from EUR 260 * Covivio SA CVO.PA : JP Morgan raises to overweight from neutral * L'Oreal OREP.PA : JP Morgan cuts to underweight from neutral * OCI NV OCI.AS : JP Morgan cuts to neutral from overweight * Wizz
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UK grocery inflation edges higher, says Kantar

UPDATE 1-UK grocery inflation edges higher, says Kantar UK grocery inflation was 2.0% in four weeks to Sept. 29 -Kantar Grocery sales up 2.0% over four week period year-on-year Ocado and Lidl are fastest growing grocers Tesco market share hits 28%, highest since 2017 Adds table, detail in paragraphs 10 to 12 By James Davey LONDON, Oct 8 (Reuters) - British shoppers faced increased pressure on their budgets last month after grocery price inflation edged higher, industry data showed on Tuesday.
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UK grocery inflation edges higher, says Kantar

CORRECTED (OFFICIAL)-UK grocery inflation edges higher, says Kantar Corrects paragraph 7 after Kantar corrected its release to state Tesco achieved its largest share since December 2017, not its largest annual share gain this period since December 2017 LONDON, Oct 8 (Reuters) - British shoppers faced increased pressure on their budgets last month after grocery price inflation edged higher, industry data showed on Tuesday.
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Burberry, Hermes, Spectris

EUROPE RESEARCH ROUNDUP-Burberry, Hermes, Spectris Sept 20 (Reuters) - Securities analysts revised their ratings and price targets on several European companies including Burberry, Hermes and Spectris on Friday. HIGHLIGHTS * ASML Holding NV ASML.AS : Morgan Stanley cuts to equal-weight from overweight * Burberry BRBY.L : Jefferies cuts to underperform from hold * Hermes HRMS.PA : Jefferies cuts target price to EUR 2,200 from EUR 2,470 * Intercontinental Hotels IHG.L : HSBC cuts target price to 7
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UK stocks end higher after BoE keeps rates on hold

UPDATE 2-UK stocks end higher after BoE keeps rates on hold For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window FTSE 100 up 0.9%, FTSE 250 addds 1.6% BoE keeps rates on hold, maintains pace of QT Sterling hits highest since march 2022 versus dollar Ocado Retail lifts revenue outlook S4 Capital hit by tougher revenue outlook, shares slip Updated at 1540 GMT By Khushi Singh and Lisa Pauline Mattackal Sept 19 (Reuters) - The UK's benchmark stoc
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Miners do heavy lifting as STOXX rises ahead of BOE

LIVE MARKETS-Miners do heavy lifting as STOXX rises ahead of BOE STOXX 600 up 0.9% Fed cuts by 50 bps, eyes on BoE Ocado top index after results Miners surge 3%, utilities down Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com MINERS DO HEAVY LIFTING AS STOXX RISES AHEAD OF BOE The STOXX 600 .STOXX is up 1% as markets digest the first rate cut in four years from the U.S's Federal R
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European shares advance as global markets cheer Fed's outsized rate cut

UPDATE 2-European shares advance as global markets cheer Fed's outsized rate cut For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Germany's DAX clocks record closing high Poland's Allegro slides after Q2 results Bank of England, Norway's c.bank hold rates steady STOXX 600 up 1.4% Updated at 1600 GMT By Shubham Batra and Shashwat Chauhan Sept 19 (Reuters) - European stocks jumped on Thursday after the U.S.
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UK's Ocado soars after retail JV's outlook upgrade

BUZZ-UK's Ocado soars after retail JV's outlook upgrade Updates with share move, milestones ** Shares in British online grocer Ocado OCDO.L up 16.7% to 408.1p, highest in seven weeks ** Stock is biggest percentage gainer on FTSE midcap index .FTMC which is up 0.77% ** Ocado Retail lifted its forecast for 2023-2024 year after reporting a 15.5% increase in revenue in its latest quarter that reflected growth in customer numbers ** The joint venture between Ocado and Marks & Spencer MKS.L now sees l
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UK's Ocado seen opening 10% higher on retail JV's outlook upgrade

BUZZ-UK's Ocado seen opening 10% higher on retail JV's outlook upgrade ** Shares in British online grocer Ocado OCDO.L are seen opening 10% higher, according to premarket indicators from brokerage ** Ocado Retail lifts its forecast for 2023-2024 year after reporting a 15.5% increase in revenue in its latest quarter that reflected growth in customer numbers ** The joint venture between Ocado and Marks & Spencer MKS.L now sees low double-digit percentage growth in FY24 revenue, compared with its p
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UK Stocks-Factors to watch on Sept 19

UPDATE 1-UK Stocks-Factors to watch on Sept 19 Adds new items, updates futures Sept 19 - Britain's FTSE 100 .FTSE index is seen opening higher on Thursday, with futures FFIc1 up 0 .8%. * NEXT: British clothing retailer Next NXT.L said it was on track to make annual profit of almost 1 billion pounds ($1.3 billion) as it raised its outlook for the second time in two months after better-than-expected recent trading.
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UK's Ocado Retail lifts revenue outlook after shopper numbers grow

UPDATE 2-UK's Ocado Retail lifts revenue outlook after shopper numbers grow Q3 shopper numbers up 10.3% Q3 retail revenue rises 15.5% Lifts annual revenue guidance Sticks to annual margin guidance Recasts with CEO comments By Sarah Young LONDON, Sept 19 (Reuters) - British online supermarket Ocado Retail said it was focused on competitive pricing as it sticks with its strategy of prioritising customer growth after a strong third quarter helped lift its annual revenue guidance.
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STOXX eyes jubilant start after Fed's bumper cut

LIVE MARKETS-STOXX eyes jubilant start after Fed's bumper cut Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com STOXX EYES JUBILANT START AFTER FED'S BUMPER CUT European stocks are heading for a jubilant start to Thursday, rising 1% as markets digest Wednesday's larger-than-usual 50 bps rate cut from the U.S.
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Ocado Lifts Retail FY24 Revenue Guidance To Low Double Digit Percentage Growth

BRIEF-Ocado Lifts Retail FY24 Revenue Guidance To Low Double Digit Percentage Growth Sept 19 (Reuters) - Ocado Group PLC OCDO.L : OCADO GROUP PLC - TRADING STATEMENT OCADO: FOR OCADO RETAIL Q3 RETAIL REVENUE GREW BY 15.5% TO £658M OCADO GROUP PLC - RETAIL Q3 VOLUMES GREW 15.4% YOY, AVERAGE ORDERS PER WEEK UP 14.7% OCADO GROUP PLC - RAISING RETAIL
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UK's Ocado Retail lifts guidance on customer growth

UK's Ocado Retail lifts guidance on customer growth LONDON, Sept 19 (Reuters) - British online supermarket Ocado Retail lifted its guidance for its 2023-2024 year after reporting a 15.5% increase in revenue in its latest quarter that reflected growth in customer numbers. Reporting by Sarah Young; Editing by Kate Holton
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UK Stocks-Factors to watch on Sept. 19

REFILE-UK Stocks-Factors to watch on Sept. 19 Removes extraneous word from headline Sept 19 - Britain's FTSE 100 .FTSE index is seen opening higher on Thursday, with futures FFIc1 up 0.89%. * BOE: The Bank of England looks set to keep interest rates on hold on Thursday as it awaits signs that inflation risks are quashed, putting the focus instead on a decision about bond sales that could feed into Finance Minister Rachel Reeves' first budget.
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