Crypto News: The London Rush: Sell-it Bang

Hi, I'm Leo from Bloomberg UK's breaking news team, catching you up on this morning's business stories.

Bang and the non-core units are gone. Consumer giant Reckitt plans to sell some of its homecare brands, including Cillit Bang and Airwick, which generate almost £2 billion in revenue.

CEO Kris Licht said Reckitt wants to focus on "powerbrands" like Strepsils and Durex, and some homecare brands like Harpic, Vanish, as well as Dettol and Lysol — disinfectant products which boomed during the pandemic.

Reckitt is also considering options for its infant formula unit, which has been hammered by legal woes in the US — and is arguably the main reason that its shares had sunk nearly 20% since the beginning of the year.

The stock rose about 5% at the open, outweighing any negative impact of the cut to its annual sales outlook it also announced this morning, largely due to supply disruption caused by a tornado in Indiana.

Photographer: Chris Ratcliffe

What's your take? Ping me on X, LinkedIn or drop me an email at lkehnscherpe@bloomberg.net.

A correction to yesterday's edition: Fuller, while associated by many with the London Pride beer, isn't actually making it anymore as it sold its brewing business to Asahi in 2019.

Aston Martin shares popped 10% after the carmaker stuck with its guidance for the year — despite a plunge in SUV deliveries.

EasyJet said ticket prices are holding up during the summer and capacity for the first quarter of next year is ramping up too. That's a stark contrast to rival Ryanair, which warned of a material decline in fares.

And Informa agreed to buy London-listed Ascential, the owner of the Money20/20 and Cannes Lions conferences, for about £1.2 billion in cash. Informa said it plans to push Money20/20 into the Middle East and Africa to take advantage of investor interest in fintech and payments.

Tesla profit falls short again as Musk demands investor patience.
LVMH growth slows as China's slump weighs on luxury spending.
Singapore has the world's number one passport, unseating Europeans.

Here's your daily snap analysis from Bloomberg UK's Markets Today blog:

Going into this summer, pub companies were telling us that the Euros and better weather were key to their outlook.

The Great British Summer might have not played ball, but for Marston's at least, England's (ultimately doomed) journey to the final delivered the goods.

The chain said says sales were 2.4% higher in the latest 16 week period, thanks to a "considerable uplift from Euro 2024." It said like-for-like sales for the week of the semi-final and final rose by 8%, which helped "to lessen the impact of recent unseasonably wet weather."

The firm, which is set to become a "pure-play pub company" after announcing earlier this month it will sell its remaining non-core brewing assets to Carlsberg, said performance this year is set to be in line with expectations.

Whether the same can be said for England's tournament is another question entirely.

— David Goodman

Check Bloomberg UK's Markets Today blog for updates all day.

We're in for a big Thursday morning with Unilever, Lloyds, BAT, AstraZeneca, Vodafone, and Anglo American all due to report.

Shipbuilder Harland & Wolff has been in the news a lot lately. The company owns a Belfast yard that's known for having built which famous (for the wrong reasons) ship…?

Photographer: Paulo Nunes dos Santos/Bloomberg

[Yesterday's answer: The European country that's become a wedding destination for couples keen to avoid too much paperwork is Denmark.]

Enjoy The London Rush? Subscribe here if you haven't already.

Already subscribed? Here are a couple newsletters we think you might like:

The Readout for essential UK insights on the stories that matter
Money Distilled for John Stepek's daily newsletter on what market moves mean for your money
Explore more Bloomberg newsletters at Bloomberg.com.

Like getting this newsletter? Subscribe to Bloomberg.com for unlimited access to trusted, data-driven journalism and subscriber-only insights.

Before it's here, it's on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can't find anywhere else. Learn more.

Want to sponsor this newsletter? Get in touch here.