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Markets today: Jobs boom wanes as inflation bites


The interest of the British takeover remains

Meanwhile, worries about the economy have not halted business activity with two UK companies in the sights of US buyers this morning. First cybersecurity specialist Dark Trace (DARK) caught the attention of American takeover specialists, Thoma Bravo. Although the terms of any potential deal remain under wraps at this time, investors offered the shares up 19% in early trading. Learn more here.

Retailer Ted Baker (TED), which has been actively looking for a buyer for a few months, announced an offer from Reebok owner Authentic Brands valuing the company at £211m, pushing its shares up 17% to 109p, just short of the offer.” final” of 110p per share. . Michael Fahy has more.

Watches of Switzerland experiences a boom in luxury sales

Swiss Watches (WOSG) shares soared 3% in morning trade as the luxury watch retailer said revenue rose by nearly a third to £391million for the first quarter to July 31 and reiterated its forecast for the full year.

Luxury watch sales rose 32% to £342m. Managing Director Brian Duffy said “demand for our products remains robust, with customer sign-ups on interest lists continuing to expand.”

Total UK and Europe sales increased 8% to £239m, while US sales doubled to £152m as expansion plans continued across this region.

A new 7,200 square foot Rolex boutique will open on Old Bond Street in Mayfair next year, the company has announced. California

Mondi buys a factory in Italy to serve Central Europe

packaging company Mondi (MNDI) buys a paper mill near Trieste in Italy for €40 million. The mill currently produces lightweight coated mechanical paper, but Mondi said it would spend an additional €200 million to convert it to produce recycled corrugated board to serve both the Italian market and two of its own mills. corrugated cardboard packaging in Central Europe and Turkey. The company announced on Friday the sale of its biggest Russian asset, Syktyvkar, for 95 billion rubles (£1.29 billion). Syktyvkar has a huge fine paper mill which employs about 4,500 people. It generated a turnover of 821 million euros and a cash profit of 225 million euros last year.

The sale to billionaire Viktor Kharitonin’s Augment Investments vehicle is “operationally and structurally complex and is being undertaken in an evolving political and regulatory landscape”, Mondi warned, saying there was no certainty it would proceed.

The company also has three small factories in Russia.

Mondi announced plans to pull out of the Russian market, which provided 12% of last year’s revenue and 20% of underlying earnings, in April. FM

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