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ASX 200 Falls To Fresh Six-Week Low As Iran Tensions Push Oil Toward $100 A Barrel This Wednesday Morning

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Australia Housing Market 2026: Two-Speed Boom Persists as Prices Hit

SYDNEY — Australian shares extended their recent slide Wednesday, with the benchmark S&P/ASX 200 index falling 25.7 points, or 0.29%, to 8,895.1 by early afternoon, dropping to a fresh six-week low as renewed violence in the Middle East pushed oil prices toward $100 a barrel and reinforced fears of another Reserve Bank interest rate hike.

The Australian share market had opened slightly higher Wednesday before dipping into negative territory, according to ABC News’ live market coverage. By mid-morning, the index had fallen to a fresh six-week low, with roughly 120 of the 200 constituent stocks trading lower. The decline followed reports of explosions near Iran’s Kharg Island, alongside separate reports that Iran-backed Houthi forces in Yemen had attacked Saudi Arabian energy facilities, setting oil installations ablaze.

Gold miners were among the session’s hardest-hit stocks despite the broader flight-to-safety dynamics that typically accompany geopolitical escalation. Shares of Westgold Resources, Evolution Mining, Resolute Mining, Kingsgate Consolidated and Northern Star Resources all fell between 3% and 6.5%, coming after the spot price of gold dropped more than 1% overnight to $4,360 an ounce.

Wednesday’s losses extend a difficult run for the local market. The ASX 200 closed at 8,920.80 on Tuesday, down 90.1 points, or 1.00%, marking its lowest closing level in six weeks and extending the index’s decline for September to 1.71% month-to-date, according to The Bull. Tuesday’s session saw only the energy and utilities sectors finish in positive territory, with consumer discretionary stocks bearing the sharpest losses, falling 1.90% as deteriorating household sentiment weighed heavily on retail names.

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A sharp deterioration in Australian consumer confidence data has served as a central trigger for this week’s selloff. The Westpac-Melbourne Institute Consumer Sentiment Index for September fell 5.2% to 84.4, down from 88.9 in August, reversing almost all of the prior month’s recovery and pushing sentiment back toward the deeply pessimistic levels recorded earlier in the year. Westpac head of Australian macro-forecasting Matthew Hassan said the reading reflects mounting pressure on household finances tied to both fuel costs and interest rate expectations.

“The falls takes sentiment back towards the deeply pessimistic levels seen earlier in the year,” Hassan said, noting that both fuel prices and interest rate concerns again appeared to be driving the shift.

According to survey data cited in coverage of the report, nearly two-thirds of consumers now expect mortgage rates to rise within the next 12 months. Assessments of family finances dropped 9.2% overall, with homeowners specifically reporting a steeper 13% decline in how they view their financial position.

That shift in expectations has been reflected directly in economist forecasts. Westpac has moved its own official forecast to anticipate a Reserve Bank rate rise in November, joining both ANZ and Commonwealth Bank of Australia in projecting further tightening later this year. That repricing followed June-quarter national accounts data showing the Australian economy grew 0.4% for the quarter and 2.1% over the year, stronger figures that have reinforced the case for additional RBA action among economists at the country’s major banks.

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Retail stocks bore some of the most direct consequences of the shifting rate outlook and weaker consumer sentiment. JB Hi-Fi shares fell 2.25% Tuesday to $66.07, while Harvey Norman similarly featured among the session’s weaker performers, according to Motley Fool Australia’s coverage of the retail sector’s reaction to the confidence data.

Banking stocks also continued facing pressure across the week. The big four banks fell between 0.7% and 1.4% during Tuesday’s session, according to Trading Economics, while resource names showed a mixed picture, with BHP Group down 0.6%, Fortescue down 1.6% and Bluescope Steel falling a steep 5.5%. Rio Tinto separately declined 0.76% to $176.00 after reports emerged that Beijing’s state-backed iron ore price negotiator had directed some Chinese steel mills to delay purchases of the miner’s iron ore.

Copper prices have continued climbing to fresh record highs on the London Metal Exchange, driven by strong demand tied to data center construction, ongoing concern that President Trump could expand existing U.S. tariffs to include copper, and a lack of major new copper discoveries globally, according to IG’s market analysis. That commodity strength has provided only limited offset to the broader weakness across Australian equities this week, given the simultaneous pressure from deteriorating domestic sentiment and rising rate expectations.

Beyond the immediate market moves, Wednesday’s session unfolded against the backdrop of a broader escalation in the conflict between the United States, Iran and allied forces across the Middle East, following the weekend’s exchange of strikes involving oil tankers and warships in and around the Strait of Hormuz. That continued volatility in the region has kept energy markets on edge, with oil prices climbing to a four-month high overnight ahead of Wednesday’s session, according to ABC News.

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Investor attention now turns to China’s August trade data, due for release later Wednesday, which traders are watching closely for further signals on demand conditions across Australia’s largest trading partner. With the ASX 200 having now fallen for a third consecutive session and briefly touching its lowest level since late July, market participants are likely to remain focused in the coming days on how escalating events in the Middle East continue to affect global oil markets, alongside any further commentary from the Reserve Bank ahead of its next policy decision, as Australian equities look to stabilize following one of the more difficult stretches the local market has experienced in recent weeks.

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Aussie shares wobble, oil price keeps traders on edge

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Local shares dip, miners slump as Hormuz tensions flare

Australia’s share market has narrowed an early loss to end the session lower, after commodity prices bolstered energy stocks and miners.

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tribunal backs warehouse pay rates

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tribunal backs warehouse pay rates

Next has won an appeal against a 2024 employment tribunal ruling that its mostly female shop-floor staff suffered sex discrimination because the retailer paid its warehouse workers a higher hourly rate. The Employment Appeal Tribunal has found that the difference was justified by the need to recruit and retain warehouse staff.

The judgment, handed down by Mr Justice Bourne, reverses a decision won by more than 3,500 current and former Next employees, represented by the law firm Leigh Day, at an employment tribunal in August 2024, in a ruling Business Matters reported at the time could leave the retailer facing compensation costs of more than £30m.

Next described the outcome as a “victory for common sense” and said it would seek permission to take the outstanding issues in the case, including overtime, night pay and paid rest breaks, to the Court of Appeal. Leigh Day said it also intends to appeal.

Shop staff at Next are mostly women, while the gender split among its warehouse workers is more even, and lawyers for the store workers argued that the gap in pay between the two groups amounted to a form of sex discrimination.

In his judgment, Mr Justice Bourne said the average gender split of retail workers was 77.5 per cent female and 22.5 per cent male, while in warehouses it was about 47 per cent female and 53 per cent male.

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“Next paid a higher market rate for warehouse work because of recruitment and retention factors which did not apply to the retail workers. Therefore, this was not a case of simply paying more for what was perceived by the market as typically men’s work,” he said.

He added: “Next paid the rates to warehouse staff which it needed to pay for sound business reasons, and no more, and those business reasons did not apply to the retail staff.”

Asda, Sainsbury’s and Tesco are at varying stages of similar litigation brought on behalf of shop-floor workers, with the risk of multibillion-pound compensation bills. Leigh Day has claimed that the final bill for Tesco could be as much as £4bn, while Tesco, Britain’s largest supermarket, has put the figure at £1.7bn.

Next, whose shares were broadly level after the announcement, said in a statement that the judgment “affirms a principle at the heart of any effective employment market, that employers must be able to pay what is necessary to recruit the people they need, and that doing so does not oblige them to raise the pay of other employees where there is no reason to do so”.

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The retailer said an unfavourable ruling would have had the “perverse effect of putting retailers who operate their own warehousing at a material disadvantage to competitors who contract out their warehouse operations, which makes no sense”.

The FTSE 100 clothing and homeware chain, which employs more than 20,000 store staff across 458 stores in the UK and Ireland, warned that it may have been forced to close stores if the ruling had gone the other way. It said that if its appeal had failed, it would have represented a “hammer blow to retail employment in the UK”.

Next said the judgment came “at the right time” for the British economy amid concerns about unemployment and the implications of higher labour costs and new workers’ rights legislation, and claimed to have won the “vast majority” of the litigation.

Elizabeth George, a partner at Leigh Day, said: “I am pleased that the Employment Appeal Tribunal rejected Next’s arguments that its pay practices do not disadvantage women. They plainly do, and the appeal tribunal firmly recognised that.” She said the conclusion on basic pay was “disappointing”.

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She added: “While the store staff and their legal team welcome many aspects of this appeal judgment, we respectfully disagree with this approach to justification. We remain confident in our clients’ position and intend to appeal.”


Amy Ingham

Amy Ingham

Amy Ingham is a reporter at Business Matters, covering UK business news with a focus on breaking news, business policy, late payments and insolvency. She joined the magazine in 2026 after completing the NCTJ Diploma in Journalism at Harlow College’s journalism school. Her recent reporting includes British Steel’s nationalisation and its impact on SME suppliers, the decline in late payments by large firms, and Insolvency Service director disqualifications. Reach her at aingham@cbmeg.co.uk.

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Energean shares jump on better-than-expected H1 results

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Energean shares jump on better-than-expected H1 results

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Campbell’s targets cost cuts after tough year

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Campbell’s targets cost cuts after tough year

CAMDEN, NJ. — A challenging year culminating in a difficult fourth quarter that included a 12% decline in sales in the company’s Snacks unit has executives at The Campbell’s Co. searching for answers heading into 2027.

Net income in the fiscal year ended Aug. 2 totaled $403 million, equal to $1.34 per share on the common stock, which was down 33% from $602 million, or $2.02 per share, in the 2025 fiscal year. Net sales declined 5% to $9.74 billion from $10.25 billion. An additional week in the 2025 fiscal year impacted net sales by an estimated 2 percentage points. Organic sales were down 2%, primarily due to unfavorable volume/mix.

Mick Beekhuizen, president and chief executive officer of Camden-based Campbell’s Co., acknowledged the company’s performance “is not where it needs to be,” adding “we are taking decisive actions to improve it.”

Among those actions are a reset of the quarterly dividend. The company’s board of directors on Sept. 3 approved a quarterly dividend payment of 25¢ per share, or $1 on an annualized basis, a reduction of 36% from the prior quarterly dividend payment of 39¢ per share, or $1.56 on an annualized basis.

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The company also is planning a $500 million cost-savings initiative and changing its marketing spend in fiscal-year 2027.

Campbell’s stock price on Sept. 3, the day fiscal-year results were presented, traded as low as $21.15 on the Nasdaq early in the afternoon, which was down 11% from a close of $23.78 on Sept. 2.

Highlighting Campell’s troubles were a fourth quarter loss of $69 million, which compared with net income of $145 million, or 49¢ per share, in the same period a year ago. Fourth-quarter net sales declined 8% to $2.14 billion from $2.32 billion in the same time of the previous year. An impact of 7 percentage points came from an extra week in the 2025 fourth quarter. Organic sales were down 1%.

Looking ahead to fiscal 2027, Campbell’s expects to face more challenges. The company said it expects net sales to be down 4% to 2% in fiscal 2027 and adjusted EPS to be down 24% to 17% when compared with fiscal 2026. Combined raw material and packaging inflation is expected to be 5% to 6%.

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“Our fiscal 2027 outlook reflects an external environment that we expect will remain volatile, as well as another year of elevated inflation that will continue to pressure margins, particularly in the first half,” Beekhuizen said in pre-recorded remarks on Sept. 3. “However, our outlook also reflects the benefits of productivity, cost-savings initiatives and pricing that we expect to build throughout the year and increasingly support margin recovery.

“Make no mistake. Our results remain unacceptable, but instead of waiting for the environment to

improve around us, we are addressing reality head-on. The initiatives we are laying out today are designed to improve performance and put us on a path back to a sustainable long-term value-creation mode.”

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The Campbell’s Co. is planning national advertising campaigns for the Rao’s, Goldfish and Pepperidge Farm brands.

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| Photo: ©STEVE CUKROV – STOCK.ADOBE.COM

$500 million in cost savings

Beginning in the 2027 fiscal year, Campbell’s is launching a program targeting $500 million in cost savings by fiscal 2030. The program will include initiatives remaining under a prior program, an overhead savings initiative announced in the third quarter of fiscal 2026 and an enterprise spend optimization that will change how Campbell’s manages and deploys its direct and indirect spending. Actions already underway are plant closures in Hyannis, Mass., and Jeffersonville, Ind., and approximately a 13% reduction in the workforce through a voluntary early-retirement program and involuntary reductions, said Todd Cunfer, chief financial officer.

Beekhuizen added that the company also is changing its approach to marketing support.

“Specifically, we will direct a majority of this year’s marketing budget toward our best opportunities, moving away from what has historically been a balanced approach across our portfolio,” he said. “Let me be clear: We are not walking away from any business or brand. However, our marketing investments must work harder for us.”

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Campbell’s in fiscal 2027 has national advertising campaigns planned for Rao’s, Goldfish and Pepperidge Farm, he said. The use of social media, influencer and e-commerce channels will expand as well as platforms enabled by artificial intelligence (AI), he said.

Refocusing Goldfish

In Campbell’s Snacks business, fiscal 2026 operating earnings plunged 28% to $386 million from $538 million. Net sales fell 6% to $3.82 billion from $4.07 billion in the previous fiscal year.

Particularly troublesome for the Snacks business was a 12% decline in sales during the fourth quarter, including a 6% drop in organic net sales. Segment operating earnings, at $101 million, were down 34% from the previous year’s fourth quarter.

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Campbell’s in fiscal 2026 refocused the Goldfish brand as a leader in snacking for families and children, but more work remains to be done, Beekhuizen said.

“Core consumption returned to growth, supported by double-digit e-commerce growth and our collaboration with Pokémon, reinforcing our confidence in the strategy,” he said.

In Meals & Beverage, fiscal 2027 earnings fell 14% to $943 million from $1.1 billion. Sales of $5.93 billion were down 4% from $6.18 billion in the previous year.

Semi-scratch cooking consumption increased by 5% in the fourth quarter, led by Swanson, Pacific and Rao’s, Beekhuizen said. Rao’s sauce consumption increased by 9.4% in the year and 8.9% in the fourth quarter, largely driven by sustained distribution and velocity growth, he said.

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“Within eating soups, declines eased relative to Q3 for Chunky and Campbell’s red and white condensed,” Beekhuizen said. “At the same time, premium brands Pacific and Rao’s sustained strong double-digit growth, up 14% and 25.3%, respectively.”

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activity up in 7 of 12 UK regions

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activity up in 7 of 12 UK regions

Business activity increased in seven of the 12 UK nations and regions in August, led by Northern Ireland and London, according to the latest NatWest Growth Tracker. The survey also found that growth expectations for the year ahead improved in the majority of areas, even as cost pressures picked up from July.

The Tracker’s headline measure is the Business Activity Index, where any reading above 50.0 signals growth and a higher reading indicates a faster rate of expansion.

Northern Ireland topped the rankings with a reading of 55.5, its strongest performance for almost two years, followed by London on 54.9. Output was unchanged in the West Midlands at 50.0, while the North West (49.7), North East (49.6), East Midlands (49.5) and Scotland (48.9) each recorded slight decreases in activity.

The July edition of the tracker had reported growth in 10 of the 12 areas, with London on 55.3 at the top.

Sebastian Burnside, NatWest chief economist, said: “It was encouraging to see business activity growth being sustained across most parts of the UK in August, despite a backdrop of renewed inflationary pressures. Business expectations towards future output have also continued to recover in the majority of areas, with confidence getting closer to the levels seen at the start of the year before the recent bout of geopolitical uncertainty and volatility in oil markets.”

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Costs and prices

Cost pressures increased across most UK nations and regions in August, the Tracker found, although rates of input price inflation remained below the highs seen in the second quarter of the year. Firms in Northern Ireland again recorded the steepest rise in operating expenses, followed by those in Yorkshire & Humber. Scotland saw the slowest pace of cost inflation, its weakest for six months.

Burnside said: “Higher prices at the fuel pumps in August contributed to quicker increases in input costs in most UK nations and regions, the first time this has been the case since April, but rates of inflation in both costs and output prices remained below the highs seen in the second quarter of the year, perhaps giving policymakers some breathing room to keep interest rates unchanged for now.”

The Bank of England held Bank Rate at 3.75 per cent at its meeting on 30 July, with the Monetary Policy Committee’s next decision due on 17 September.

Prices charged for goods and services also generally rose at faster rates, according to the survey, with Northern Ireland recording the steepest increase. Output price inflation was unchanged in London and the South West and dipped to a five-month low in the South East.

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The second-quarter peak in costs followed an energy price shock earlier in the year linked to the Middle East conflict, and pump prices have drawn calls for a cut in fuel duty from campaign group FairFuelUK.

Demand and employment

New business presented a mixed picture, with six of the 12 areas recording growth and the rest seeing a decline. Firms in London and Yorkshire & Humber jointly posted the most marked increases in new work, followed by those in the South West. Scotland remained at the bottom of the rankings but saw its rate of decline ease to the weakest for five months.

Labour market conditions generally remained subdued, the Tracker said, with only pockets of employment growth. Scotland saw workforce numbers rise for a third straight month, while the South West recorded its first increase since April. Staffing levels fell elsewhere, with Wales recording the most marked decline.

Burnside said: “Whilst we’re still only seeing pockets of employment growth across the UK, there are further signs that labour market conditions are at least beginning to steady, with several regions seeing rates of decline in employment either slow or remain broadly unchanged since July.”

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Outstanding business fell across the board in August, which the survey described as a sign of generally weak capacity pressures. The reduction in Northern Ireland was negligible, while firms in Wales recorded a sharp drop in backlogs of work.

Business expectations for the next 12 months improved in the majority of areas, with the West Midlands the most optimistic, ahead of London and the South East. Sentiment was weakest in Northern Ireland, though still positive overall.


Jamie Young

Jamie Young

Jamie Young is Senior Reporter at Business Matters, covering SME finance, employment law and Westminster policy since 2016. He has reported on every Budget and Autumn Statement since 2018, helped make sense of the ‘covid era’ and the bounce-back loan scheme from launch through the fraud investigations, and broke the magazine’s coverage of the 2024 late-payment reforms. He joined Business Matters straight from completing his BA in Administration from Exeter University and is NCTJ-qualified. Reach him at jyoung@cbmeg.co.uk

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Consumers changing their approach to buying bread

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Consumers changing their approach to buying bread

WASHINGTON — A longtime US household staple, bread is undergoing a consumer shift as shoppers gravitate from traditional white/wheat loaves to other category segments, new research from the Grain Foods Foundation (GFF) shows.

A GFF-commissioned survey of 1,043 US adults by market research and polling firm Ipsos found that consumers have become more diverse in their bread product selections, exhibiting a rising preference for artisan and sourdough varieties and sharpening their focus on ingredients and nutrition. Titled “Consumer Perspectives on Bread,” the study also revealed shoppers increasingly have branched out in bread formats beyond conventional loaf slices.

“Bread’s story is being shaped as much by media and dietary conversations as by what’s on the shelf, and independent, best-in-class insights have never mattered more,” said Erin Ball, executive director of the Grain Foods Foundation. “Consumer Perspectives on Bread gives our industry a clear, credible picture of where bread stands with today’s shopper as well as where it’s headed.”

Of the polled households’ primary bread purchasers, 53% said they purchased traditional sandwich bread in the past three months, compared with 22% buying artisan bread, 14% alternative bread formats and 11% better-for-you bread offerings.

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Among specific bread items purchased in that time frame, tortillas/wraps led the field, with 71% of respondents buying them. Next were rolls (57%), sliced wheat/whole wheat sandwich bread (53%), sliced white sandwich bread (50%), sourdough bread (45%), artisan sliced bread (37%), baguette bread (31%), grains and seeds traditional sliced bread (30%), sandwich thins and flatbreads (23%) and ciabatta (20%).

Other varieties bought by at least 10% of those surveyed included rye/pumpernickel European-style bread (19%), high-protein/keto bread (14%), ancient grain loaves (12%) and focaccia (12%).

Still, traditional white/wheat sliced sandwich bread stood as the top bread purchase for the three-month period, cited by 78% of consumers polled. Interestingly, however, 72% of traditional bread primary purchasers said they bought tortillas/wraps during that time span, and 59% bought rolls.

“Traditional sliced sandwich bread remains the primary anchor for households, but its core buyers are actively diversifying with alternative formats like tortillas/wraps and rolls,” the GFF study said.

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GFF-bread-study_chart_JPG.jpgSource: Sosland Publishing Co.

Consumption evolves

Bread consumption has stayed relatively level among consumers. Sixty-seven percent said they’ve eaten about the same amount of bread over the past year, compared with 18% reporting they eat less and 15% saying they eat more, according to the GFF/Ipsos research.

“Overall bread consumption remains largely flat, indicating that growth in the bakery aisle is a battle for share rather than increased volume,” the report said.

But changes in bread consumption clearly show a growing consumer predilection for artisan and better-for-you items, the study noted. For example, over the past year, 46% of respondents said they were eating more high protein/keto bread versus 46% eating about the same and 8% eating less, for a net shift of 38% — the sharpest of the varieties in the research. Next in terms of a net shift toward eating more were boule/batard (27%), sourdough (17%), sprouted grain (16%), ancient grain loaves (14%), sliced grains and seeds (11%), sandwich thins and flatbreads (4%), artisan-style sliced (3%), tortillas/wraps (2%) and focaccia (2%).

Sliced wheat/whole wheat bread and rye/pumpernickel showed no net shift in consumption. Meanwhile, 12% of those surveyed said they eat more sliced white bread versus 61% eating about the same and 27% eating less, for a negative net shift of 15%. Other varieties showing a net shift toward less consumption included rolls (-10%), ciabatta (-8%) and baguette (-4%).

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“While traditional sliced white and wheat loaves remain flat or decline, many have actively increased their intake of functional, seeded and fermented breads and artisan types like sourdough,” the GFF study said.

Nevertheless, bread remains a “resilient staple” and a “nutritional anchor,” the report noted. Among respondents, 59% agreed bread and bread products are an affordable way to eat nutritiously, while 39% agreed that a good meal isn’t complete without bread or another bread product.

Changes in choice

But many of the consumers polled also agreed with the following: bread with visible grains/seeds is significantly better for health than traditional white bread (62%), sourdough bread is better for gut health/digestion than regular bread (53%), traditional sliced bread is boring compared to other bakery options (50%), artisan or grainy breads have less added sugar than traditional white bread (48%) and a standard loaf is too much to finish before it goes bad (28%).

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In addition, 43% said they worry about carbs/weight gain and are trying to limit bread intake. Yet 36% said they are looking for a new bread type as their household’s staple, and 62% like to use alternative breads, such as wraps, to make different kinds of sandwiches.

“Despite nearly half actively limiting their intake due to carb and weight fears, a majority still view bread as an affordable way to eat nutritiously, highlighting the category’s enduring relevance for today’s shopper,” the study said.

On the health and nutrition front, whole wheat (36%) and simple/clean label (35%) topped the list of “healthy bread descriptors” that catch consumers’ eyes when shopping for bread, the research found, with “clean label” defined as bread with recognizable ingredients and/or five ingredients or less. Other descriptors appealing to respondents included high fiber (30%), low/no added sugar (24%), high protein (19%), sourdough starter/naturally fermented (19%), visible seeds (16%), ancient grains (14%), low calorie (14%) and sprouted grains (9%).

“Consumers define healthy and high-quality bread through foundational health cues, prioritizing whole wheat, clean labels and high fiber over niche diet claims,” the report said.

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Those descriptors, along with sensory experience, also play into consumers’ “must-haves” when shopping for bread. Price, cited by 50% of consumers polled, was a top-three must-have when choosing bread, but more respondents cited taste (86%) and texture (55%). Other factors considered most important when bread shopping included clean ingredients (40%), shelf life (38%), healthier than other options (36%), loaf size (32%), visual appeal (28%), specific nutritional benefits (24%), low/no added sugar (24%), brand familiarity (18%), low carbs (15%) and low calorie (14%).

“While price is important, taste, followed by texture, are the ultimate ‘must haves’ that dictate the (bread) purchase decision,” the GFF study said.

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AI cancer cure in our lifetime, says Arm chief Rene Haas

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AI cancer cure in our lifetime, says Arm chief Rene Haas

Rene Haas, chief executive of the chip designer Arm Holdings, has said artificial intelligence will help cure cancer “in our lifetime”, and predicted that humanoid robots will be in widespread use within the next five years.

Haas told the BBC that modelling how a DNA marker is affected by cancer was currently “too complex” a problem for either humans or the computers that run AI, but that computers were “going to solve it” as more models are fed into them and they become more sophisticated at running them.

“AI is going to … find a cure for cancer that today you and I, other humans [could] not in our lifetimes. I believe in our lifetime, AI will help cure cancer,” he said.

“Modelling how a DNA marker is impacted by cancer, it’s too complex a problem, not only for humans today, but the computers that run AI. However, going forward, as we feed more and more of the models into these computers, and the computers get more sophisticated to run the models, they’re going to solve it.”

AI already in use in NHS diagnosis

AI tools are already being used in NHS cancer diagnosis. The Department of Health and Social Care said on 10 June 2026 that more than four million patients had received a faster lung cancer diagnosis or all-clear thanks to AI tools, and announced £20m to roll out AI-powered X-ray tools to every NHS trust in England by 2029.

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The department said early data showed the technology, which acts as a virtual “second pair of eyes” for radiologists, helped them analyse scans in an average of four days, compared with eight days for the most complex cases previously. The NHS is also using an AI forecasting system across 50 organisations to identify likely surges in A&E attendances days and weeks in advance.

Haas predicts humanoid robots within five years

Haas said AI would also pave the way for widespread humanoid robots within the next five years, but that chip shortages were stunting growth in the area.

“With artificial intelligence, these robots can see, learn, and essentially be reprogrammed for new tasks,” he said. “So, in the service industry, the robot that was programmed to make a bed can also learn how to arrange the towels in a room, or clean the dustbins, or whatever you want to go off and do.”

A report by Royal Bank of Canada has estimated that the global market for humanoid robots could be worth as much as $9tn by 2050, with basic household models potentially entering homes within the next five years but widespread adoption of fully capable domestic robots unlikely for up to 20 years.

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Arm, which is listed in New York but keeps its global headquarters in Cambridge, has about 500 users of its chip designs worldwide, including Apple, Samsung, Qualcomm and Nvidia. The company says more than 350bn Arm-based chips have been shipped to date.

It employs more than 7,000 staff, including about 3,000 in the UK, and is the biggest technology company headquartered in Britain, with a stock market value of about $269bn (£199bn).

Haas joined Arm in 2013 and became chief executive in 2022. He has also been named chief executive of the international business of SoftBank, the Japanese group that is one of the biggest technology investors in the world and holds a stake in ChatGPT maker OpenAI. He stepped down from the board of the pharmaceutical group AstraZeneca in April 2026.

Earlier in 2026, Arm proposed a pay scheme for Haas that could make him a billionaire if he hits targets to turn the chip designer into a trillion-dollar company.

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Amy Ingham

Amy Ingham

Amy Ingham is a reporter at Business Matters, covering UK business news with a focus on breaking news, business policy, late payments and insolvency. She joined the magazine in 2026 after completing the NCTJ Diploma in Journalism at Harlow College’s journalism school. Her recent reporting includes British Steel’s nationalisation and its impact on SME suppliers, the decline in late payments by large firms, and Insolvency Service director disqualifications. Reach her at aingham@cbmeg.co.uk.

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C.H. Guenther’s new UK center of excellence makes debut

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C.H. Guenther’s new UK center of excellence makes debut














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C.H. Guenther’s new UK center of excellence makes debut | Food Business News

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Billionaire Ian Wace Helping Fund Harry And Meghan’s UK Return, Sources Tell Page Six Amid $1.2B Fortune

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Nancy Guthrie & Savannah Guthrie

LONDON — Prince Harry and Meghan Markle’s return to the United Kingdom has been financially supported in part by British hedge fund billionaire Ian Wace, a longtime friend of the couple, according to multiple sources cited by Page Six in the days following the family’s relocation from California.

Wace, 63, is the founding partner, chief executive and chief risk officer of Marshall Wace LLP, one of the world’s largest hedge fund firms, founded in 1997. His estimated net worth stands at roughly $1.2 billion, according to Page Six’s reporting. Two sources told the outlet that Wace has been helping finance the Sussexes’ move back to Britain, though he is not believed to be covering the full cost of their relocation or ongoing expenses.

Harry, Meghan and their two children, 7-year-old Prince Archie and 5-year-old Princess Lilibet, flew privately from Los Angeles to Birmingham on Aug. 26, a trip Page Six reported cost approximately $120,000. The couple’s plans to return to the UK were first reported Aug. 20, with details of Wace’s financial involvement emerging in the days that followed.

Wace and Harry’s friendship extends beyond financial support and reportedly carries deep personal significance for both men. In 1994, Wace’s first wife, Joanna, and their two young children, 4-year-old Guy and 11-month-old Alice, were killed in a car accident in Hampshire. Wace himself had been sitting in the passenger seat of the vehicle at the time of the crash. Harry, of course, lost his own mother, Princess Diana, in a car crash in Paris in 1997, a shared experience that sources say helped forge a particularly close bond between the two men over the years.

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Harry first visited Wace’s private Scottish island, Tanera Mòr, in 2017, shortly after Wace purchased the property, according to the Daily Mail. More recently, in July, Harry and Meghan brought Archie and Lilibet to the same island for a private family visit, further underscoring the closeness of the relationship between the two families.

The exact amount Wace has contributed toward the Sussexes’ relocation has not been publicly disclosed. According to AOL’s reporting on the arrangement, Harry and Meghan retain their home in Montecito, California, as well as a property in Portugal, meaning their return to Britain does not represent a complete departure from their life abroad. Their new UK residence is expected to remain private, with neither Harry nor Meghan planning to resume official royal duties following the move.

Separately, a report from tabloid outlet National Examiner, cited by RealityTea, claimed the couple has not been shy about accepting broader financial support from various backers as they resettle in Britain, describing what the outlet characterized as the Sussexes’ “5-star lifestyle” and asserting that the couple intends to eventually repay any assistance they’ve received. Those specific claims regarding a wider circle of financial backers beyond Wace remain sourced solely to that tabloid report and have not been independently corroborated by other outlets covering the family’s relocation.

Commentary from celebrity gossip site Celebitchy pushed back against a separate narrative that had circulated in British media in the weeks before Wace’s involvement became public, referencing a Times of London article questioning how Harry and Meghan would afford their new life in the UK. According to that critique, British tabloids had spent years suggesting the Sussexes were financially struggling, a narrative the site argued has since been undercut by reporting confirming the couple has generated significant income through their various business ventures since stepping back from royal duties in 2020.

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Beyond Wace’s financial support, Harry and Meghan are expected to continue pursuing their respective professional projects from their new base in Britain. Harry is anticipated to devote additional time to UK-based charitable work, including preparations tied to the 2027 Invictus Games, scheduled to take place in Birmingham. Meghan is expected to continue running her lifestyle brand, As Ever, from the UK, while some reports have also suggested she may be exploring a return to acting, though British actor Theo James recently dismissed as “hot air” specific rumors linking her to a role in the Netflix series “The Gentlemen.”

The couple also maintains an extended content partnership with Netflix, a relationship that has continued to generate revenue for the Sussexes since they signed their original deal with the streaming service following their departure from royal duties.

The financial support from Wace adds a new dimension to the broader public conversation surrounding Harry and Meghan’s return to the UK, which has already generated significant coverage of the family’s motivations, their children’s schooling arrangements, and the state of Harry’s relationship with other senior royals, including his brother, Prince William. King Charles separately issued a letter in recent days aimed at clarifying confusion over Harry and Meghan’s official royal status following their return, reaffirming that the couple remains outside the formal structure of working royal duties despite their physical relocation back to Britain.

With Harry and Meghan now settling into their new life in the UK, the disclosure of Wace’s financial support offers one of the more concrete details to emerge regarding how the family is managing the practical logistics of their transatlantic move, even as broader questions about their long-term financial arrangements, living situation and public role in Britain remain subjects of ongoing speculation across British and American media coverage of the family’s relocation.

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