Sat. Apr 20th, 2024

LIVE BUSINESS: Haleon to sell ChapStick;  Workspace boss to retire;  Wizz Air losses increase<!-- wp:html --><div> <p class="author-section byline-plain">By live comments </p> <p class="byline-section"><span class="article-timestamp article-timestamp-updated"> <span class="article-timestamp-label">Updated:</span> 03:09 EST, January 25, 2024 </span> </p> <p> <!-- ad: https://mads.dailymail.co.uk/v8/us/money/moneymarkets/article/other/para_top.html --> <!-- CWV --><!--[if !IE]>>--> <!-- <!--[if IE]>--></p> <p> <!--[if !IE]>>--> <!--<!--[if IE]>--></p> <p> <!--[if !IE]>>--> <!--<!--[if gte IE 8]>>--> <!-- <!--[if IE 8]>--></p> <p> <!--[if IE 9]>--></p> <p> <!--[if IE]>--></p> <p> <!--[if !IE]> --> <!--</p> <p> <!-- SiteCatalyst code version: H.20.3. Copyright 1997-2009 Omniture, Inc. More info available at http://www.omniture.com --> </p> <p> <!-- End SiteCatalyst code version: H.20.3. --> <!--[if IE]>--></p> <p> <!--[if !IE]> --> <!--<!--[if IE]>--></p> <p> <!--[if !IE]> --> <!-- </p> <p> <!-- CWV --></p> <div> <p class="mol-para-with-font">The FTSE 100 will open at 8am Companies with trading reports and updates today include Haleon, Workspace, Wizz Air, Dr Martens, Foxtons, Fever-Tree and PPHE. Read the Business Live blog from Thursday 25 January below.</p> <p class="mol-para-with-font">> If you are using our app or a third-party site, click here to read Business Live</p> <div class="mol-web-desktop moneymarkets"> <div class="postListLayout_1lOeW_RO money"> <div class="postListWrapper_23sqoxd2 postListWrapperActive_1iHlOecK"> <div> <div class="postItemWrapper_3neUe0_U"> <div class="rowLayout_1DHYN8qE"> <div class="postItem_1uUs-hu4"> <h2 class="postItemTitle_1WqUGhNH">Netflix wins the crown in the streaming wars as it experiences the biggest increase in customers since the first lockdown<br /> </h2> <div> <div> <p class="embedParagraph_1I1nW9oF">Netflix shares soared as it cemented its status as the world’s largest streaming service.</p> </div> <div> <p class="embedParagraph_1I1nW9oF">In a bullish update yesterday, the US giant revealed another 13.1 million subscribers signed up in the final three months of last year, the biggest increase in customers since the start of lockdowns in early 2020.</p> </div> <div> <p class="embedParagraph_1I1nW9oF">Total customers rose to 260 million, far ahead of rivals Amazon Prime Video and Disney Plus.</p> </div> <div> <div class="embedDMWrapper_c6nJ9xDY"> <div class="embed-dm-image_32IWLKV6"><a target="_blank" href="https://www.thisismoney.co.uk/money/markets/article-13002665/Netflix-wins-Crown-streaming-wars-sees-biggest-rise-customers-lockdown.html" rel="noopener"></a></div> </div> </div> </div> </div> </div> </div> <div class="postItemWrapper_3neUe0_U"> <div class="rowLayout_1DHYN8qE"> <div class="postItem_1uUs-hu4"> <h2 class="postItemTitle_1WqUGhNH">Wizz Air losses increase<br /> </h2> <div> <div> <p class="embedParagraph_1I1nW9oF">Wizz Air’s losses widened in the third quarter as the low-cost carrier grapples with capacity issues related to engine inspections that have grounded parts of its fleet and the suspension of flights due to the Middle East conflict.</p> </div> <div> <p class="embedParagraph_1I1nW9oF">The airline, however, maintained its net income expectations for fiscal 2024 after a positive start to its fourth quarter that ended in March.</p> </div> <div> <p class="embedParagraph_1I1nW9oF">Chief József Váradi said: </p> </div> <div> <p class="embedParagraph_1I1nW9oF">‘At the beginning of the quarter we faced geopolitical crises in Israel and the Middle East and have responded by canceling affected flights to protect our passengers, employees, assets and the general public.</p> </div> <div> <p class="embedParagraph_1I1nW9oF">‘Despite associated flight cancellations and redeployment of capacity at short notice, we managed operations well, achieving improved on-time performance and significantly better utilization, year on year.</p> </div> <div> <p class="embedParagraph_1I1nW9oF">‘While a portion of our fleet will remain grounded this year, our key markets continue to grow and evolve. “We remain committed to stimulating demand in smaller markets and have relaunched inbound operations to Chisinau, Moldova in December, while delivering additional aircraft to Kutaisi, Georgia.”</p> </div> </div> </div> </div> </div> <div class="postItemWrapper_3neUe0_U"> <div class="rowLayout_1DHYN8qE"> <div class="postItem_1uUs-hu4"> <h2 class="postItemTitle_1WqUGhNH">Workspace boss to retire</h2> <div> <div> <p class="embedParagraph_1I1nW9oF">Workspace Group chief executive Graham Clemett will retire in 2024 after five years in the role and 16 years at the office space provider. </p> </div> <div> <p class="embedParagraph_1I1nW9oF">The search for his successor will be led by chairman Duncan Owen, who will lead a “formal and rigorous selection process for the new CEO”, the group said.</p> </div> <div> <p class="embedParagraph_1I1nW9oF">Clemett said: ‘The business is in very good shape and well positioned in the current market.</p> </div> <div> <p class="embedParagraph_1I1nW9oF">“I am confident that with the fantastic team we have across the business, Workspace has an exciting future and will continue to go from strength to strength.”</p> </div> </div> </div> </div> </div> <div class="postItemWrapper_3neUe0_U"> <div class="rowLayout_1DHYN8qE"> <div class="postItem_1uUs-hu4"> <h2 class="postItemTitle_1WqUGhNH">Haleon to sell ChapStick</h2> <div> <div> <p class="embedParagraph_1I1nW9oF">Consumer healthcare giant Haleon has agreed to sell ChapStick to Suave Brands for $430 million in cash and an $80 million stake in the private equity-backed group. </p> </div> <div> <p class="embedParagraph_1I1nW9oF">Haleon said the sale of ChapStick, which generated £112 million in revenue last year, will be used to help pay down debt.</p> </div> <div> <p class="embedParagraph_1I1nW9oF">Chief Brian McNamara said: </p> </div> <div> <p class="embedParagraph_1I1nW9oF">‘Today’s announcement is consistent with Haleon being proactive in managing our portfolio and being rigorous and disciplined when divestment opportunities exist. </p> </div> <div> <p class="embedParagraph_1I1nW9oF">‘While ChapStick is a great brand, loved by consumers around the world, it is not a central focus for Haleon. Selling the brand allows us to simplify our business and pay off debt more quickly. </p> </div> <div> <p class="embedParagraph_1I1nW9oF">“We are confident the brand will continue to thrive under its new ownership.”</p> </div> </div> </div> </div> </div> <div class="postItemWrapper_3neUe0_U"> <div class="rowLayout_1DHYN8qE"> <div class="postItem_1uUs-hu4"> <h2 class="postItemTitle_1WqUGhNH">Billionaire hedge fund manager Bill Ackman takes stake in Tel Aviv stock exchange<br /> </h2> <div> <div> <p class="embedParagraph_1I1nW9oF">Billionaire hedge fund manager Bill Ackman and his Israeli-born wife, Neri Oxman, have agreed to buy a nearly 5 percent stake in the Tel Aviv stock exchange.</p> </div> <div> <p class="embedParagraph_1I1nW9oF">One of the largest investments in Israel since the outbreak of war in Gaza, the deal was part of a share sale to raise funds to invest in stock market technology.</p> </div> <div> <p class="embedParagraph_1I1nW9oF">The call for cash attracted interest from investors in Israel, the United States, Europe and Australia, “reflecting a strong vote of confidence in both the Tel Aviv Stock Exchange and the Israeli economy.”</p> </div> <div> <div class="embedDMWrapper_c6nJ9xDY"> <div class="embed-dm-image_32IWLKV6"><a target="_blank" href="https://www.thisismoney.co.uk/money/markets/article-13002793/Billionaire-hedge-fund-manager-Bill-Ackman-takes-stake-Tel-Aviv-stock-exchange.html" rel="noopener"></a></div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <p> <!-- ad: https://mads.dailymail.co.uk/v8/us/money/moneymarkets/article/other/inread_player.html --></p> <div class="column-content cleared"> <div class="shareArticles"> <h3 class="social-links-title">Share or comment on this article: LIVE BUSINESS: Haleon to sell ChapStick; Workspace boss to retire; Wizz Air losses increase</h3> </div> </div> <p class="mol-style-italic byline-section justify">Some links in this article may be affiliate links. If you click on them, we may earn a small commission. That helps us fund This Is Money and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.</p> </div><!-- /wp:html -->

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The FTSE 100 will open at 8am Companies with trading reports and updates today include Haleon, Workspace, Wizz Air, Dr Martens, Foxtons, Fever-Tree and PPHE. Read the Business Live blog from Thursday 25 January below.

> If you are using our app or a third-party site, click here to read Business Live

Netflix wins the crown in the streaming wars as it experiences the biggest increase in customers since the first lockdown

Netflix shares soared as it cemented its status as the world’s largest streaming service.

In a bullish update yesterday, the US giant revealed another 13.1 million subscribers signed up in the final three months of last year, the biggest increase in customers since the start of lockdowns in early 2020.

Total customers rose to 260 million, far ahead of rivals Amazon Prime Video and Disney Plus.

Wizz Air losses increase

Wizz Air’s losses widened in the third quarter as the low-cost carrier grapples with capacity issues related to engine inspections that have grounded parts of its fleet and the suspension of flights due to the Middle East conflict.

The airline, however, maintained its net income expectations for fiscal 2024 after a positive start to its fourth quarter that ended in March.

Chief József Váradi said:

‘At the beginning of the quarter we faced geopolitical crises in Israel and the Middle East and have responded by canceling affected flights to protect our passengers, employees, assets and the general public.

‘Despite associated flight cancellations and redeployment of capacity at short notice, we managed operations well, achieving improved on-time performance and significantly better utilization, year on year.

‘While a portion of our fleet will remain grounded this year, our key markets continue to grow and evolve. “We remain committed to stimulating demand in smaller markets and have relaunched inbound operations to Chisinau, Moldova in December, while delivering additional aircraft to Kutaisi, Georgia.”

Workspace boss to retire

Workspace Group chief executive Graham Clemett will retire in 2024 after five years in the role and 16 years at the office space provider.

The search for his successor will be led by chairman Duncan Owen, who will lead a “formal and rigorous selection process for the new CEO”, the group said.

Clemett said: ‘The business is in very good shape and well positioned in the current market.

“I am confident that with the fantastic team we have across the business, Workspace has an exciting future and will continue to go from strength to strength.”

Haleon to sell ChapStick

Consumer healthcare giant Haleon has agreed to sell ChapStick to Suave Brands for $430 million in cash and an $80 million stake in the private equity-backed group.

Haleon said the sale of ChapStick, which generated £112 million in revenue last year, will be used to help pay down debt.

Chief Brian McNamara said:

‘Today’s announcement is consistent with Haleon being proactive in managing our portfolio and being rigorous and disciplined when divestment opportunities exist.

‘While ChapStick is a great brand, loved by consumers around the world, it is not a central focus for Haleon. Selling the brand allows us to simplify our business and pay off debt more quickly.

“We are confident the brand will continue to thrive under its new ownership.”

Billionaire hedge fund manager Bill Ackman takes stake in Tel Aviv stock exchange

Billionaire hedge fund manager Bill Ackman and his Israeli-born wife, Neri Oxman, have agreed to buy a nearly 5 percent stake in the Tel Aviv stock exchange.

One of the largest investments in Israel since the outbreak of war in Gaza, the deal was part of a share sale to raise funds to invest in stock market technology.

The call for cash attracted interest from investors in Israel, the United States, Europe and Australia, “reflecting a strong vote of confidence in both the Tel Aviv Stock Exchange and the Israeli economy.”

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