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21.04.26 - 09:06
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Primark to split from food business despite warning of Iran war impact (The Guardian)
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ABF to demerge fashion chain from firm that owns Kingsmill, Twinings and Patak's, plus a sugar companyBusiness live – latest updatesPrimark is to break free from its sister food company which owns Twinings, Kingsmill and Patak's next year despite warning that the conflict in the Middle East was likely to hit consumer spending.The fashion chain's owner, Associated British Foods (ABF), confirmed the plan to split off Primark from the rest of the group, first mooted last year. Continue reading......
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20.04.26 - 18:39
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DoJ Opens Criminal Probe Into Meatpacking Cartel As Food Stocks Slide (ZeroHedge)
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DoJ Opens Criminal Probe Into Meatpacking Cartel As Food Stocks Slide
Shares of Tyson Foods and Smithfield Foods fell in late-morning trading in New York after The Wall Street Journal reported that the Justice Department's antitrust division has opened a criminal probe into major meatpackers.
The report follows President Trump's push for an investigation into meatpackers as supermarket beef prices remain near record highs.
Criminal antitrust cases are typically brought for alleged price-fixing, collusion, or bid-rigging. While the DoJ previously disclosed an investigation into beef companies after Trump called for action, it had not provided details on whether it was criminal.
In early November, Trump publicly stated, "I have asked the DOJ to immediately begin an investigation into the Meat Packing Companies who are driving up the price of Beef through illicit collusion, price fixing, and price manipulation."
"We will always protect our American ranchers, and they are being blamed for what i...
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20.04.26 - 01:12
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ABF poised to reveal result of Primark and food business demerger plan (The Guardian)
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Retail analysts say breaking up food and fashion group would make sense in challenging business environmentPrimark may break free from Kingsmill, Twinings and the sugar business this week when Associated British Foods announces plans on a mooted demerger.The potential split comes at a tricky time for the group controlled by the billionaire Weston family, with its fashion and food arms facing tough competition and rising costs. Continue reading......
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