Chinese economy slows as Trump tariffs bite; FTSE 100 on track to hit new record – business live | Business
Key events
Kingsmill Owner and Hovis Toast Toast Deal Deal
The owner of Kingsmill has agreed to buy his rival baker business HovisIn a deal that could make the largest bread in the country if it gets the green light from regulators.
Associated British foodA FTSE 100 Company that has the retailer primarily, has agreed to buy Hovis of the private equity company Endless.
The Deal between the second and third largest bread-marks in the country is expected to attract attention of the Competition and marks authority.
Both companies have recently been difficulty Warburnedonsthe largest market in the industry. Revenue at Hovis almost 3% fell to £ 447m in the year to 28th September 204 million, compared to a loss of £ 3.6m the year prior to a loss of £ 3.6 million. That included £ 530,000 in one-time cost, largely related to restructuring.
The Bak Bakery, Allied Bakeries (which include Kingsmill's and Sun and Sunny maze, you made a year loss over £ 30 million over £ 400m last year, according to the real estate Panmure Liberum.
Abf said that the deal combine the production and distribution and distribution and distribution saves savings and efficients so that it would make in a “rendable bread that is in the long run.
George WestonAbf's Chief Executive, said:
This transaction will create a UK Bakeries business that is both profit and more durable of the long run. Supporting the Hovis and Kingsmill marks with well invested and efficient operations will also ennah innovation and growth. This solution will create value for shareholders, provide a larger choice for consumers and internal efficiences are increasing for customers.
Introduction: Chinese economy slow or trump rates bite
Good morning, and welcome to our scrolling coverage, the financial markets and the world economy.
New Data suggest the Chinese economy in July Stadis, as Donald Trump's trade began to bite at the second largest economy in the world.
Figures that came out of the Beijing Chinese Industrial Production, and expanded with the slowest rate and expanded by 5.7% compared to the same point last year, worse than an expected 6%.
Meanwhile Chinese retail sale grew by 3.7% year in July, his slowest pace so far and down from 4.8% the previous month.
Yuhan Zhangchief economist at The Conference Board's China Centersaid,
Business can run in existing capacity instead of building new plants … The industrial value tells a more nuanced story than the weak fixed assets investment path.
He pointed to the China's automobel production of the China, aerospace and other transportation device or “Outliers (that) provide policy drizzle policy, high tech and strategic sectors still attracted.”
The Chinese CSI 300 Stock index Rose 0.8% to the release of the economic data, because it could make food speculation that preve in the market.
Meanwhile in the UK, the FTSE 100 Blue chip Share index is set to end the week at a new record high. It is ready to rise to rise by 0.5% when the market opens at 8:00, leaves through profits in the finance and defense horses.
The Defensive China has been one of the best artists in London's stock market, thanks to a wave of the rewemamens over a large part in the Ukraine.
All eyes will be on Alaska later today, when Vladimir Putin is set to meet Donald Trump. The US president has said he believes that the Russian leader is willing to make a deal on the Ukraine war.
