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Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

Shares in Sir Martin Sorrell’s S4 Capital fell to a record low after the UK marketing group warned that earnings and revenues would be lower than expected this year.

Sorrell said technology clients continued to cut marketing spending amid challenging global macroeconomic conditions and high interest rates, but promised to cut costs in the group so that headcount matched the new lower revenues.

S4 shares dropped almost 15 per cent in early trading on Thursday after the profit warning, its second in less than two months, which is likely to raise further questions among executives in the advertising industry about the long-term future of the group. S4 has had approaches from rivals in the past, including New York-listed Stagwell.

Overall the group’s shares have plunged by almost half in the past 12 months.

The advertising group, which was created by Sorrell after he left WPP in 2018, said net revenue for 2024 would fall “by low double digits” and earnings would be slightly lower than last year.

S4 said it would continue to cut costs, with a “significant reduction in the number” of staff reflecting the lower revenues.

Revenue fell 19.3 per cent reported to £198.4mn in the third quarter, S4 said in a trading update. The company is heavily exposed to clients in the tech sector and has sought to use new technology such as artificial intelligence in its processes.

Sorrell said: “Trading in the third quarter reflected the continued impact of trends we saw in the first half, namely challenging global macroeconomic conditions and high interest rates, as well as some underperformance when compared to our addressable markets.”

Analysts at Peel Hunt said trading at S4 was slower than expected in the third quarter, which would lead them to trim their estimates for earnings in 2024 by between 4 and 6 per cent.

SAINSBURY’S has discontinued a popular breakfast item, leaving shoppers devastated and paying more at the till.

Eagle-eyed customers have noticed the supermarket has axed its two-litre carton of orange juice.

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Confused shoppers took to X, formerly known as Twitter, to find out more.

One said: “Very simple question, why have you stopped selling 2L orange juice, forcing us to pay more for 2 x 1L?”

Sainsbury’s shoppers could previously pick up a large carton of the citrus-flavoured juice for £1.99.

But now, if they want a bigger serving, they have to purchase two one-litre cartons, priced at £1.19 each.

This works out at £2.38 for two litres of orange juice, a 38p increase compared to when they could buy it as a single item.

Sainsbury’s confirmed on social media that the product was no more and apologised for the inconvenience.

But one disgruntled shopper warned they would take their business to discounter Aldi.

They said: “Aldi sells [two-litre cartons], and this leaves me no alternative but to go to them.”

The discounter sells orange juice for £1.99, the same price as Sainsbury’s before it was discontinued.

The Sun has approached Sainsbury’s for comment.

It is not the only time the grocer has axed a popular drink from its shelves.

Earlier this year, Sainsbury’s waved goodbye to its full-sugar lemonade, disappointing customers.

The saccharine drink was one of the few left on the market which did not contain sweeteners and was red-rated for its high levels of sugar.

Customer Claire-Louise complained on X: “Not everyone can tolerate sweeteners and some people choose to avoid them. Very disappointing.”

A representative for Sainsbury’s said at the time: “We regularly review our ranges so that we dedicate space in our stores to the products which are most popular with our customers.”

Vanishing products

Grocers regularly pull items from shelves if they do not perform well or make way for new items.

M&S confirmed last month that it axed its Cocoa & Cherry Bircher pot.

The tub was a popular breakfast snack for many customers who like to eat on the go.

Meanwhile, we can reveal eight nostalgic foods that have disappeared from supermarket shelves over the years.

There is everything from Campbell’s soup to Caramac, and while we won’t know for sure if these loved snacks will ever return, it is worth keeping an eye out.

What is new at Sainsbury’s

Thankfully it is not all doom and gloom at Sainsbury’s.

The retailer has unveiled its Christmas range much to the delight of shoppers.

Some items are currently available to buy but a handful of festive meats and desserts will not land in stores until December.

The popular Sticky Toffee liqueur is back this Christmas, too, quickly becoming a family favourite last year.

Its slots for Christmas shopping delivery have also opened for all customers.

You can get a look at the full range by clicking the link here.

Why are products axed or recipes changed?

ANALYSIS by chief consumer reporter James Flanders.

Food and drinks makers have been known to tweak their recipes or axe items altogether.

They often say that this is down to the changing tastes of customers.

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There are several reasons why this could be done.

For example, government regulation, like the “sugar tax,” forces firms to change their recipes.

Some manufacturers might choose to tweak ingredients to cut costs.

They may opt for a cheaper alternative, especially when costs are rising to keep prices stable.

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For example, Tango Cherry disappeared from shelves in 2018.

It has recently returned after six years away but as a sugar-free version.

Fanta removed sweetener from its sugar-free alternative earlier this year.

Suntory tweaked the flavour of its flagship Lucozade Original and Orange energy drinks.

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While the amount of sugar in every bottle remains unchanged, the supplier swapped out the sweetener aspartame for sucralose.

TUI has launched its first ever flights to a popular African city.

Luxor is now much easier to get to for Brits wanting some winter sun in Egypt.

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Previously having to travel from Hurghada or Sharm el Sheikh, easyJet also announced its first direct flights earlier this year.

TUI has since joined with the new direct Luxor route, operating from both Manchester and London Gatwick airports.

Two flights a week will see them depart to Luxor on Thursdays, and returning on a Tuesday.

The season route, starting today, will run until April 24th next year, before returning in November 2025.

Lucie Hinton, Head of Aviation Business Development at Manchester Airport, said: “We are thrilled to see TUI launching this new service to Luxor.

“Manchester Airport is proud to connect the North with over 200 destinations worldwide – but this is our first Luxor service and will offer holidaymakers an unforgettable experience delving into the history and culture of Ancient Egypt.”

TUI has eight hours in the Luxor area, including a Hilton Luxor, as well as package tours exploring the tombs and temples.

The new flights are also part of TUI’s River Cruises, with the newly refurbished five-star ship, TUI Al Horeya, on it’s maiden voyage along the River Nile.

Passengers can book seven night, all-inclusive sailings from Luxor, that work with the new TUI flights.

Stopping at destinations such as Edfu, Kom Ombo, Aswan, onboard is a swimming pool, dining space and even two Egyptologists.

Want to do both cruise and holiday? The Legends of the Nile package has seven-night cruise and seven night hotel stays included.

Katy Berzins, Head of TUI River Cruises at TUI River Cruises, stated: “We are excited to be welcoming our first passengers onto our first river cruise ship down the River Nile, TUI Al Horeya, this winter season on these inaugural flights from Manchester and London Gatwick airports.”

Also launching this week are easyJet‘s first flights to Luxor for the first time in a decade.

Starting on November 11, the new route will connect London Gatwick to the Egyptian city.

While holidaymakers often head to Sharm el Sheikh and Hurghada – both being beach resorts, Luxor is home to some of Egypt’s most famous attractions.

Previously named Thebes, it was the ancient capital, and now said to be one of the world’s “greatest open-air museums”.

It is home to the huge Valley of the Kings, as well as the tomb of Tutankhamun.

It isn’t a pricey destination either, with the average spend per day being between £20 and £40.

Also in Egypt is the world’s biggest museum, with the £1billion Grand Egyptian Museum opening in Giza earlier this year.

Egypt could soon be home to a new £84billion city the size of Barcelona with holiday resorts and even its own airport.

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The Indian rupee fell to an all-time low of 84.195 versus the US dollar, inching down 0.1 per cent from Tuesday’s close as other Asian currencies got pummeled. The rupee muted response could be the Reserve Bank of India possibly selling dollars. Sensex and Nifty both gained in Wednesday morning trade, with markets betting on an impeding Trump win.

Sensex and Nifty were lifted mostly by rallying IT stocks on the US sentiment, with Sensex jumping more than 338 points and Nifty climbing 101 points. IT scripts of Infosys, TCS, Tech Mahindra, and HCL Technologies were comfortably in the green, along with NTPC, Maruti, Bajaj Finserv, Sun Pharma, and Bajaj Finance. All of the 13 major sectors traded in the green, with IT leading.

was the top sectoral gainerALSO READ | US Elections 2024: Donald Trump bags hattrick win in swing-state North Carolina

JSW Steel and Tata Steel traded in the red with the impending tariff scare. Despite foreign investors offloading almost Rs 2,570 crore worth of shares on Tuesday, markets recovered, with domestic investors buying more than Rs 3,030 crore in equities.

Going further east, only Tokyo and mainland China exchanges traded in the green, while the Korean and Hond Kong markets went red. The Malaysian ringgit, Thai baht, Korean won, and even the Chinese yuan fell by more than 1 per cent, in morning trade with Trump projected to win more battleground states in a tight US Presidential elections.

During the Republican campaign, Trump did invoke India charging high tariffs and hinted at a possible rebuttal. He has only assured at least a 10 per cent tariff imposition on all imports, and much higher on imports from China.

Fintech provider Intelliflo has teamed up with estate planning firm Estgro to transform how advisers handle generational wealth planning.

The partnership will bridge the gap between financial and legal services, making estate planning and inheritance processes easier for both advisers and their clients.

It will allow Estgro, part of the Arken Group, to integrate its tools with the Intelliflo Office platform, pulling crucial client data and enriching it with comprehensive features like the “Estate Health Check.”

This combination allows financial advisers to provide tailored recommendations for wealth transfer and inheritance tax strategies.

Advisers can then refer clients digitally to their preferred legal suppliers—or select from Estgro’s accredited network—to complete the estate planning process.

Additionally, advisers can engage clients’ beneficiaries, fostering early discussions to protect family portfolios for future generations.

Intelliflo’s chief customer officer, UK & AU, Richard Wake, said “The integration with Estgro represents a significant advancement in our partner ecosystem. By bridging financial and legal services, we enable advisers to deliver holistic financial advice.

“Estgro’s innovative approach to using Intelliflo data for actionable estate planning recommendations is impressive, we encourage our users to explore the trial and simplify estate planning for their clients.”

Estgro co-founder and CEO, Dave Newick, emphasised the importance of timely estate planning.

He said: “Establishing the right estate structure is crucial for minimising tax and ensuring loved ones inherit the maximum possible.

“With the Great Wealth Transfer seeing £5.5trn set to pass between generations over the next 30 years, advisers must act now to protect significant assets from their portfolios.

“Our integration with intelliflo allows advisers to prioritise intergenerational wealth planning, safeguarding their clients’ legacies and their own business futures.”

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

Rolls-Royce has stuck to its guidance for profit growth this year as a surge in international travel continues to drive demand for its aircraft engines despite persistent supply chain challenges.

Shares in the FTSE 100 group fell nearly 4 per cent in early trading in London on Thursday after hitting a new 52-week high of 572.8p on Wednesday.

The stock has nearly doubled since the start of the year as investors have bought into a sweeping turnaround plan under chief executive Tufan Erginbilgiç to improve profitability and cut costs. The company in August said it would resume dividend payments for the full year.

Rolls-Royce on Thursday reiterated its goal of delivering underlying operating profit of £2.1bn to £2.3bn and free cash flow of as much as £2.2bn for the full year.

The company said large engine flying hours — a key metric as Rolls-Royce makes most of its money from servicing and maintaining its engines when they are in operation — grew 18 per cent year on year to 102 per cent of 2019 levels for the 10 months to the end of October. It expects engine hours to reach 100 to 110 per cent of 2019 levels for the full year.

Erginbilgiç, however, cautioned that the supply chain environment “remains challenging”. A range of issues including labour shortages and a lack of parts have hampered the industry’s attempt to increase production. The company said it was focusing on 15 suppliers to improve performance.

The aerospace industry was among the hardest hit by the Covid-19 pandemic, but bounced back sharply amid resurgent demand from airlines for new aircraft amid a post-pandemic travel boom.

Rolls-Royce has said it will invest more than £1bn over the coming years to improve the durability and performance of its Trent family of engines which power long-haul passenger planes such as Boeing’s 787 and the Airbus A350. It said on Thursday it was also continuing to invest to increase its maintenance and overhaul capacity by 2030.

The group said demand across its other two main divisions, defence and power systems, had also remained strong.

Rolls-Royce has a medium-term goal of achieving up to £2.8bn in annual operating profit and up to £3.1bn free cash flow by 2027.