Press Digest: Financial Times - May 22
22/05/2024 02:30
May 22 (Reuters) - The following are the top stories in
the Financial Times. Reuters has not verified these stories and
does not vouch for their accuracy.
Headlines
- AstraZeneca to build Chinese supply chain as US-Sino
tensions increase
- Chanel to increase investment in retail sites as brands
vie for key locations
- Bank of England governor predicts 'quite a drop' in UK
inflation in April figure
- THG’s activist investor to vote against chair Charles
Allen
Overview
- AstraZeneca AZN.L is building a separate Chinese supply
chain to try to get around increased U.S.-China tensions, as
chief executive officer Pascal Soriot said Chinese drug sales
and innovation would help the drugmaker hit a new $80 billion
revenue target by 2030.
- Chanel plans to increase investment in its retail network
and real estate by at least 50 percent this year, as the French
label competes with other luxury brands in a hot market for
prime locations.
- The Bank of England is expecting "quite a drop" in
inflation to levels around its 2 percent target when official
numbers are released on Wednesday, governor Andrew Bailey said,
as he predicted the next move in official interest rates by the
central bank would be a cut.
- Activist investor Kelso KLSO.L said it would vote
against the reappointment of British ecommerce company THG's
THG.L chair Charles Allen, in protest at what it said was the
lack of progress in reviving the group’s share price.
(Compiled by Bengaluru newsroom)
((globalnewsmonitoring@thomsonreuters.com))