(Bloomberg) -- Here’s the key business news from London-listed companies this morning.
EasyJet Plc: The low-cost carrier cut its flying expectations for the last two quarters of the year after it had to cancel flights across Europe due to staff shortages and other coronavirus-related disruption.
- The airline said it is “proactively consolidating” a number of flights across airports affected by the tight labor market
- The consortium had made four other approaches, starting at £11.75 per share, eventually leading to the fifth and current approach at £14.61 per share
Associated British Foods Plc: The owner of Primark reported strong sales for the unit in summer holiday related products as well as successful Strange Things and Lilo & Stitch ranges.
- Primark, who had previously resisted moving any of its sales online, will start trialing a click-and-collect service for its children’s products in the UK
Outside The City
This week, the UK will face up to surging inflation and labor strikes as well as a rising risk of recession in a series of setbacks that have echoes of the 1970s. That’s as close to three-quarters of respondents in the latest Bloomberg MLIV Pulse survey were bearish about the UK’s future.
Meanwhile, Boris Johnson’s vote-winning power will be under scrutiny Thursday in two by-elections in areas where his “levelling up” agenda has stalled.
In Case You Missed It
UK house prices rose to a new record in June, but there’s mounting evidence the red-hot market is starting to cool.
And Glastonbury returns this week after a three-year Covid pause, and some festival goers plan to do it in style.
Looking Ahead
Packaging company DS Smith Plc and telecommunications and utilities supplier Telecom Plus Plc are due to publish updates tomorrow.
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