Manchester-based beauty and nutrition e-commerce firm posts revenue growth of 7% for the first quarter of 2026

THG shares surged on Tuesday as the Manchester-based firm defied broader gloom across the retail sector, delivering its strongest quarterly performance in five years.

The beauty and nutrition e-commerce giant posted revenue growth of 7 per cent for the first quarter of 2026, noting that growth was only “modestly impacted” by disruption in the Middle East.

The London-listed company recorded revenue of £393.1m, driven by 8.1 per cent growth in its nutrition division to £159.8m, as reported by City AM.

“It is energising for everyone at THG to see such a strong start to 2026,” said chief executive Matt Moulding.

“While the geopolitical backdrop remains uncertain, we enter Q2 with confidence after a better-than-expected Q1, giving us a stronger base against any unforeseen risks later in the year.”

THG shares climbed 9.5 per cent to 42.2p in early trading.

“Positive underlying revenue momentum was maintained in both divisions,” said analysts at Panmure Liberum.

“Three consecutive quarters of mid-to-high single-digit organic growth are encouraging, but the business still needs to demonstrate consistent translation into higher profits and cash generation, particularly given raw material cost volatility.”

LOS ANGELES — Luka Doncic continues progressing in his recovery from a Grade 2 left hamstring strain, rejoining the Los Angeles Lakers in Los Angeles after specialized treatment in Europe and participating in limited practice sessions as the team battles the Houston Rockets in the first round of the 2026 NBA playoffs.

The 27-year-old superstar suffered the non-contact injury on April 2 during a blowout loss to the Oklahoma City Thunder, exiting in visible discomfort. An MRI the following day confirmed the partial tear, sidelining him for the remainder of the regular season and initially casting doubt on his availability for the postseason.

Lakers coach JJ Redick described Doncic as “out indefinitely” in mid-April updates, offering no firm timeline while emphasizing caution with the high-risk muscle injury. Grade 2 hamstring strains typically require four to six weeks for recovery, involving partial tearing of muscle fibers and careful rehabilitation to avoid recurrence.

Doncic traveled to Spain shortly after the diagnosis for advanced medical interventions, including multiple injections aimed at accelerating healing. He was spotted courtside at a Real Madrid EuroLeague game alongside Novak Djokovic before reportedly spending time with family in Slovenia. The trip drew significant attention, reflecting the Slovenian star’s determination to return for a deep playoff run with his new team.

By April 17-18, Doncic had returned to Los Angeles and rejoined the Lakers. Redick noted in a pregame session that the player was “in good spirits” after landing, though the coach joked about not having seen him yet in person. Recent reports indicate Doncic has resumed light practice activities, marking a positive step in his rehabilitation protocol.

As of April 21, Doncic remains officially ruled out for Game 2 against the Rockets on Tuesday night. The Lakers opened the series without their top scorer, relying on LeBron James, supporting cast members and strong performances from role players such as Luke Kennard to compete in the Western Conference matchup.

Insiders have offered measured optimism about a potential return. Lakers reporter Jovan Buha suggested there is a chance Doncic could rejoin the lineup toward the middle of the first-round series if it extends, potentially in Games 5, 6 or 7. Austin Reaves, sidelined with a Grade 2 oblique strain suffered in the same April 2 game, faces a longer projected timeline.

Medical experts caution that rushing a hamstring return carries significant re-injury risk, particularly for a player whose game relies heavily on explosive movements, deceleration and lateral quickness. History shows mixed results with similar injuries in the playoffs; some stars have returned successfully with limited minutes, while others have aggravated the issue and missed extended time.

Doncic’s season statistics underscore his value. In 64 games, he averaged approximately 33.5 points, 7.7 rebounds and 8.3 assists, positioning him as a leading MVP candidate before the injury. His absence forced the Lakers to adjust their offensive scheme, with increased reliance on James’ playmaking and perimeter shooting from others.

The timing of the injury complicated award eligibility. Doncic fell short of the 65-game threshold for certain postseason honors, though his representatives filed for an “extraordinary circumstances” exception citing personal reasons earlier in the season, including travel for the birth of his second daughter.

For the Lakers, managing Doncic’s return involves balancing short-term playoff ambitions with long-term health. The franchise acquired the former Dallas Mavericks star in a major trade, betting on his pairing with James and Anthony Davis — though Davis has also dealt with availability questions in recent seasons. A healthy Doncic could transform Los Angeles into a legitimate title contender, blending elite scoring, vision and clutch performance.

Rehabilitation protocols for Grade 2 strains generally progress from rest and inflammation control to isometric strengthening, then dynamic loading and sport-specific drills. Doncic has not yet resumed full running, according to the latest updates, keeping him in the controlled rehab phase.

Team sources indicate no expectation of Doncic or Reaves returning during the opening round, but the door remains open if the series extends deep into early May. A potential Game 6 would fall around May 1 and Game 7 on May 3, overlapping with the outer edge of a conservative four-to-six-week recovery window from April 2.

Fan reaction has been a mix of concern and hope. Social media buzzes with highlight reels of Doncic’s pre-injury dominance alongside speculation about his return date. Some analysts argue the Lakers should prioritize caution to preserve Doncic for future rounds or even next season, while others point to his competitive drive and history of playing through discomfort.

The broader playoff picture adds pressure. The Western Conference remains stacked, with Oklahoma City, Denver and other contenders posing significant challenges. Without Doncic, the Lakers have shown resilience but lack the offensive firepower and creation that the Slovenian provides.

Doncic’s injury history includes previous hamstring and lower-leg issues, though none exactly mirroring this Grade 2 strain. His meticulous approach to conditioning and access to top medical resources — including the specialized European treatment — could prove pivotal in shortening the timeline safely.

As the series progresses, daily monitoring will continue. Redick and the medical staff have emphasized a day-to-day evaluation without committing to specific games. Any return would likely involve minutes restrictions and a gradual ramp-up to avoid setbacks.

Beyond the immediate playoffs, Doncic’s recovery carries implications for the Lakers’ long-term roster construction and salary cap management. His presence elevates the ceiling of a team built around veteran experience and star power.

In the coming days, expect further updates from practice sessions and injury reports. If Doncic shows continued progress in on-court work without setbacks, optimism will grow for a mid-to-late first-round appearance or readiness for a potential second-round series.

For now, the focus remains on smart rehabilitation. The Lakers have navigated the early series without their star, but his eventual return — whenever it occurs — could shift momentum dramatically.

Doncic’s journey from Dallas to Los Angeles already marked one of the offseason’s biggest storylines. This hamstring setback tests his resilience once more, adding another chapter to a career defined by remarkable production and occasional physical challenges.

As April 21 unfolds with Game 2 on the horizon, all eyes in Lakers Nation remain fixed on the latest signals from Doncic’s recovery. Cautious progress in practice offers hope, yet the medical realities of a Grade 2 strain demand patience.

Whether he returns in this series or later, Luka Doncic’s presence will be felt. The superstar’s drive to contribute, combined with advanced treatment and careful management, positions him for a potential impactful comeback when cleared.

The NBA postseason often hinges on health as much as talent. For the Lakers and their fans, the waiting game continues — with measured optimism that the wait may not be as long as initially feared.

CIMB Thai Bank’s Q1 net profit rose 8.4% to 908.2 million baht, driven by lower credit losses and operating expenses, despite a decline in net interest income due to low rates.

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Key Points

• Profit Growth: CIMB Thai Bank reported an 8.4% net profit increase in Q1 FY2026, reaching 908.2 million Thai baht. This rise was primarily due to a significant reduction in expected credit losses (down 21.1%) and a slight decrease in operating expenses (down 0.6%).
• Revenue Challenges: Despite profit gains, operating income declined 3.1% to 3.47 billion Thai baht. This was attributed to a drop in net interest income caused by lower asset yields in a low interest rate environment and a 22.7% fall in net fee and service income, particularly from insurance and underwriting.
• Strategic Outlook: CIMB Thai remains committed to its Forward30 strategy, focusing on balance sheet strength, deposit growth, and quality expansion. The bank aims to leverage its ASEAN network to capture regional flows and support evolving customer needs, despite a more uncertain operating environment.

Profit Growth Driven by Cost and Loss Reduction

CIMB Thai Bank PCL, a subsidiary of CIMB Group Holdings Bhd, has reported a notable 8.4% increase in net profit for the first quarter of fiscal year 2026. This positive performance was primarily fueled by a significant reduction in expected credit losses, which decreased by 21.1% year-on-year, and a marginal 0.6% dip in operating expenses. These efficiencies, particularly lower employee-related costs, contributed to a more favorable bottom line. Despite a challenging economic climate, the bank has demonstrated its ability to manage costs effectively and mitigate potential financial risks.

Income Challenges and Strategic Outlook

While profit saw an uptick, operating income for CIMB Thai declined by 3.1%. This contraction is largely attributed to a 7.1% fall in net interest income, a direct consequence of lower asset yields amid a prevailing low interest rate environment. Furthermore, net fee and service income experienced a significant 22.7% decline, impacted by reduced insurance brokerage and underwriting fees. The bank’s cost-to-income ratio also rose to 48.9%. Nevertheless, CIMB Thai remains steadfast in its commitment to delivering resilient returns by focusing on deeper customer engagement, cross-selling initiatives, and robust risk management as part of CIMB Group’s Forward30 strategy.

Financial Position and Capital Strength

CIMB Thai maintains a healthy financial position and strong capital adequacy. Total gross loans saw a modest increase of 1.6% by the end of March, while deposits saw a decline. Importantly, the bank improved its gross non-performing loan (NPL) ratio to 2.1%, reflecting sound credit management. The loan loss coverage ratio significantly strengthened to 178.0%, exceeding regulatory requirements. CIMB Thai’s total consolidated capital funds stand at 58.6 billion Thai baht, with a robust BIS ratio of 19.6%, underscoring its financial stability and capacity to support future growth and evolving customer needs within the ASEAN region.

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As President Donald Trump‘s nominee to lead the Federal Reserve, Kevin Warsh is stepping back into the spotlight – and in the hot seat – as he faces lawmakers Tuesday in a high-stakes confirmation hearing that could shape the future of U.S. monetary policy. 

Trump announced Warsh to succeed Jerome Powell at the Fed in January, ending months of speculation over who he’d pick to head the world’s most powerful central bank. Powell is set to complete his term as chairman in May.

TRUMP NOMINATES KEVIN WARSH TO SUCCEED JEROME POWELL AS FEDERAL RESERVE CHAIR

“I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best,” Trump wrote on Truth Social. “On top of everything else, he is ‘central casting,’ and he will never let you down. Congratulations Kevin!”

Here’s what to know about Warsh and his path to the Fed’s top job:

Warsh, born in 1970, earned a bachelor’s degree in public policy from Stanford University and later earned a law degree from Harvard University. Like Powell, Warsh does not have a formal economics degree (Powell earned a bachelor’s degree in politics from Princeton University and a law degree from Georgetown).

Warsh spent time working in the private sector at Morgan Stanley before joining President George W. Bush’s administration in 2002, burnishing his credentials in Republican policy circles until Bush nominated him to the Fed’s Board of Governors in 2006. At age 35, he became the youngest Fed governor in history.

Since leaving the Fed in 2011, Warsh has served as a Shepard Family Distinguished Visiting Fellow in Economics at the Hoover Institution and a visiting scholar at Stanford’s Graduate School of Business. He also serves on the board of UPS and is a trustee of the Group of Thirty and the Panel of Economic Advisers of the Congressional Budget Office.

In 2017, he was considered by Trump to replace Janet Yellen as Fed chair. The president instead chose Powell as her successor. Warsh was also in the running to serve as treasury secretary last fall before Trump nominated hedge fund manager Scott Bessent.

TRUMP VS THE FEDERAL RESERVE: HOW THE CLASH REACHED UNCHARTED TERRITORY

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Perhaps no finalist for Fed Chairman was as critical of Powell as Warsh. He has advocated for wholesale changes to the Fed’s approach to policy, calling the central bank’s economic models outdated and opaque while railing against the build-up of its balance sheet.

Despite generating a reputation as one of the Fed’s foremost inflation “hawks” during his stint on the Board of Governors, Warsh had said as recently as last fall that the Fed has room to ease borrowing costs.

“Prices can be lower,” Warsh told Fox News’ “Special Report” in October, “but it’s going to require regime change at the Fed.”

Though he has echoed Trump’s calls for Powell to lower interest rates throughout his candidacy for the central bank’s top job, Warsh has been notably less specific about what his preferred path for monetary policy would be. Members of the Senate Banking Committee are likely to press Warsh on those views during his confirmation hearing before the panel.

As the Fed wrestles with how to set rates and adapt to Trump’s tariffs, Warsh – once a critic of protectionist trade policies – said last summer that tariffs would not cause lasting inflation. 

Following last spring’s tariff announcements, inflation trended higher over the course of the year and remains closer to 3% than the Fed’s 2% target, though policymakers anticipate it trending closer to target over the course of 2026 barring further tariff announcements. Elevated inflation along with a slowing labor market has complicated the outlook for rate cuts and that dynamic may persist late into this year.

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Still, any notion that Warsh would adopt a dovish approach to handling policy would stand in contrast to his record at the Fed, where he was critical of the central bank’s plan to continue buying Treasury bonds while keeping interest rates low for an extended period of time as the job market languished during the 2008 housing crisis.

Warsh’s ties to Wall Street, which reportedly remain strong today, allowed him to serve as the Fed’s chief liaison to the banking sector during that period.

A Uninterruptible Power Supply (UPS) is a vital electrical device that provides backup power during outages, ensuring that businesses continue to run smoothly without interruption.

In today’s fast-paced business environment, any downtime can lead to significant financial losses. A reliable UPS can prevent such disruptions, protecting vital systems and equipment from sudden power failures.

Organizations prioritize a UPS to safeguard equipment and reduce downtime because reliable backup power supports operational continuity during outages and voltage disturbances.

They focus on how a UPS keeps critical loads running long enough for safe shutdowns or seamless transfer to backup sources. Let’s explore 7 ways a UPS can prevent downtime in businesses and enhance operational reliability.

7 Ways a UPS Defends Your Business Against Power Failures

UPS systems provide businesses with an additional layer of protection against unexpected power failures, ensuring reliable performance for critical equipment.

1. Preventing Equipment Damage During Power Outages

Power failures can cause significant damage to sensitive electrical instruments and devices. A UPS provides backup power during these disruptions, allowing businesses to shut down equipment or switch to auxiliary power safely. This process helps protect valuable equipment from potential electrical damage due to sudden power interruptions.

2. Maintaining Data Integrity

For businesses that rely on data, such as financial institutions or IT companies, maintaining data integrity is paramount. A UPS ensures that during power fluctuations or failures, data remains uncorrupted and safe. The backup power provides enough time for systems to execute proper shutdown procedures, preventing data loss or corruption.

3. Ensuring Continuous Network Availability

For organizations that depend on uninterrupted internet access, a UPS is vital. Many businesses use cloud-based services and require continuous connectivity. By deploying UPS systems, businesses can ensure that their network infrastructure remains operational during power disruptions, avoiding delays in communication and work.

4. Supporting Critical Systems During Power Surges

Power surges can disrupt and damage sensitive electrical devices, causing them to malfunction. A UPS is designed to smooth out these surges, ensuring that only a stable voltage is provided to critical systems. By incorporating this system, businesses can safeguard their essential equipment from harmful power spikes, reducing the likelihood of equipment breakdowns.

5. Ensuring Uninterrupted Manufacturing Processes

In industries like manufacturing, continuous operations are essential. A power interruption can halt production lines, leading to delays and financial losses. With a UPS in place, manufacturing systems can continue to run smoothly, even when the main power supply is interrupted. This is especially important for industries where downtime can lead to high operational costs.

6. Extending the Life of Electrical Equipment

A UPS doesn’t just protect systems from power loss; it also utilizes Automatic Voltage Regulation (AVR) to extend the life of electrical equipment by correcting sudden voltage fluctuations. By deploying this reliable power backup system, businesses can reduce wear and tear on their electrical equipment, ensuring longevity and fewer repairs.

7. Supporting Emergency Services and Safety Systems

In emergencies, such as fire alarms or security systems, having a reliable backup power supply is essential. A UPS can provide backup power to these critical safety systems, ensuring they remain operational during a power outage. This is especially important for businesses in sectors like healthcare, where uninterrupted operation of emergency equipment is non-negotiable.

Strengthening Your Business Resilience With Trusted UPS Solutions

UPS power supplies are essential for ensuring continuous operations and safeguarding critical infrastructure from power disruptions. They provide businesses with protection against data loss, reduce downtime, and extend equipment lifespan. By partnering with a reputable electrical brand, businesses can access high-quality, reliable UPS systems supported by professional maintenance services.

These systems are crucial for maintaining data integrity, protecting sensitive devices, and supporting an uninterrupted workflow. Explore advanced UPS solutions today to enhance your business resilience, prevent costly downtime, and keep your operations running smoothly, ensuring long-term success and stability in a power-dependent world.

Indian benchmark indices Sensex and Nifty sharply jumped up to 1% on Tuesday, extending gains for the third consecutive session as cooling oil prices, Iran-US peace talk hopes and other factors continue to support bulls in the market.

Sensex jumped 666 points, or 0.85%, to 79,186.35, while Nifty 50 gained more than 167 points to 24,532, as of 12.48 pm. The sharp gains today added more than Rs 3 lakh crore to the total market capitalisation of all companies listed on BSE, taking it to nearly Rs 469 lakh crore.

The benchmark indices are extending gains for the third consecutive session, with Sensex gaining around 1,200 points (1.5%) and Nifty rising around 1.4% during the period so far. The sharp gains over these three sessions have added more than Rs 8 lakh crore to the total market capitalisation of all companies listed on BSE.

Trent shares were the top gainers on Sensex, jumping more than 4% as investors await the company’s bonus issue announcement scheduled for tomorrow. Bajaj Finance shares followed, rising nearly 3%. ICICI Bank, HDFC Bank and Adani Ports shares, meanwhile, gained around 2% each. Bucking the trend, Bharat Electronics (BEL), Titan and Reliance Industries shares declined up to 1%. This came as India VIX, which measures market volatility, declined nearly 6% to 17.75.

The optimism spilled over to the broader markets as well, with Nifty Smallcap 100 and Nifty Midcap 100 indices gaining 0.7% each. Sectorally, the Nifty Realty index jumped around 3% to emerge as the top sectoral gainer.

In the near term, the market will continue to be news-driven, oscillating between hope and fear, according to VK Vijayakumar, Chief Investment Strategist at Geojit Investments. “Reports of a second round of talks between the US and Iran are keeping hopes of a resolution to the conflict alive. Brent crude at $95 and declining spot prices of crude reflect market confidence that the conflict may not last long. But if it does, crude prices will again spike, impacting stock markets,” he said.
“A prolonged war means slower growth and higher inflation for long. Such a scenario will push the market down. In brief, uncertainty looms large. During such periods of uncertainty, the only thing investors can do is remain calm and exercise utmost discipline in investing. Fairly valued, fundamentally sound stocks will be available at reasonable prices during this period of uncertainty and fear. Such stocks can be accumulated in a calibrated manner for the long term,” he added.

Here are 4 key factors boosting markets today.

1) Iran-US peace talk hopes Trump’s ceasefire deadline for the Iran war is set to expire tomorrow, April 22, keeping investors on edge. However, markets are increasingly expecting an early end to the war. Officials from the two countries are likely to meet this week for the second round of negotiations, after the previous round failed to culminate in a long-lasting peace deal earlier this month.

Yet, some caution is warranted. Iranian Foreign Minister Abbas Araqchi said “continued violations of the ceasefire” by the US are a hindrance to further negotiations. Iran’s top negotiator and Speaker of Parliament, Mohammad Baqer Qalibaf, reiterated that Tehran would not negotiate under threats.

US President Donald Trump, meanwhile, took to Truth Social to criticise previous US leaders for brokering what he claimed to be a terrible deal with Iran. “If a deal happens under ‘TRUMP’, it will guarantee peace, security and safety, not only for Israel and the Middle East, but for Europe, America and everywhere else. It will be something that the entire world will be proud of, instead of the years of embarrassment and humiliation that we have been forced to suffer due to incompetent and cowardly leadership!” he added.

2) Oil prices hold near $95 per barrel

Oil prices cooled slightly, with Brent crude futures hovering near $95 per barrel and WTI crude futures declining to $88 per barrel. Oil prices continue to sustain comfortably below the crucial $100 per barrel mark, which they had crossed for the first time since Russia’s invasion of Ukraine in 2022.

The decline in oil prices comes amid rising expectations of an Iran-US peace deal and the subsequent possibility of complete resumption of trade through the Strait of Hormuz, a critical chokepoint for global oil and trade. Meanwhile, Kuwait declared force majeure on oil shipments due to the strait’s blockade, Bloomberg News reported.

3) Global markets in the green

The optimism on Dalal Street comes amid an overall relief rally in global markets. Japan’s Nikkei gained around 1%, while South Korea’s Kospi rallied nearly 3%. Hong Kong’s Hang Seng gained more than 0.6%, while China’s Shanghai Composite erased all morning losses to move into the green.

European markets opened in the green, with the UK’s FTSE and France’s CAC trading with marginal gains and Germany’s DAX rising over 0.6%. Wall Street ended the previous session in the red, with the tech-heavy Nasdaq declining 0.26% after hitting new record highs. Dow Jones futures are, however, in the green today.

4) FII selling softens

After net purchasing Indian equities for three consecutive sessions, foreign investors turned net sellers on Dalal Street again on Monday. FIIs net sold Indian equities worth nearly Rs 1,060 crore on Monday, after net buying shares worth Rs 1,731 crore over three consecutive sessions last week.

However, the quantum of FII selling has reduced significantly following the massive selloff in March, which spilled over into April as well. For example, FIIs net sold Indian equities worth Rs 8,692 crore on April 7, more than Rs 11,163 crore on March 30 and over Rs 10,414 crore on March 23. Yesterday’s net selling is significantly lower than previous FII selling sprees seen recently.

Yet, some caution is warranted. Bond yields remain elevated, and the rupee has weakened against the US dollar. The Indian rupee declined 0.3% against the US dollar to 93.45, weighed down by a partial rollback in the RBI’s FX measures and uncertainty over the US-Iran talks.

(With inputs from Reuters)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)