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U.K. aviation authority probes August air traffic control issues; GSK reduces Haleon stake

EditorHari G
Published 10/06/2023, 04:59 AM
© Reuters.

In recent business news, the UK Civil Aviation Authority has launched an investigation into widespread flight disruptions that occurred due to air traffic control issues on August 28. The probe is being led by an independent review panel chaired by Jeff Halliwell.

GlaxoSmithKline (NYSE:GSK) has sold a portion of its stake in Haleon, the world's largest consumer healthcare firm, for £885.6 million. This move reduces GSK's holding in Haleon to 7.4%. The sale is part of GSK's broader strategy to streamline its business and focus on core operations.

JD (NASDAQ:JD) Wetherspoon, a leading pub operator in the UK, has reported a swing to an annual pre-tax profit of £42.6 million. This financial rebound was driven by cost efficiencies and strong demand for the company's competitively priced offerings. Despite concerns about potential lockdowns, JD Wetherspoon's chairman Tim Martin remains optimistic about the company's performance.

In other news, both the FTSE 100 and FTSE 250 have shown growth, with Metro Bank notably rebounding. Investors are closely watching the US non-farm payrolls data for clues on interest rate trends.

Amazon (NASDAQ:AMZN) and Microsoft (NASDAQ:MSFT) are facing a probe by the Competition and Markets Authority (CMA), instigated by Ofcom, due to competition concerns in the UK's cloud computing sector. Meanwhile, Pandora (OTC:PANDY) is enjoying robust sales while HS2 train builder Alstom (EPA:ALSO) is grappling with project delays.

Wealth Club's Charlie Huggins has praised JD Wetherspoon's resilience amidst rising costs and challenging market conditions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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