Financial Times Highlights: AstraZeneca, Chanel, Bank of England, and THG

AstraZeneca builds a China supply chain amid U.S.-China tensions. Chanel boosts investment in retail. Bank of England predicts a drop in UK inflation. Activist investor opposes THG's chair reappointment.

Reuters | Updated: 22-05-2024 07:02 IST | Created: 22-05-2024 07:02 IST
Financial Times Highlights: AstraZeneca, Chanel, Bank of England, and THG

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 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 said it would vote against the reappointment of British ecommerce company THG's 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)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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