IAG Posts Operating Profit Before Exceptional Items In Q3

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TJX Recalls 108K Baby Blankets

Department store chain TJX Companies Inc. is recalling 108,000 units of Mittal International Baby Blankets citing risks to children, the U.S. Consumer Product Safety Commission said.

According to the agency, the threads in the recalled woven baby blankets can come loose and detach posing choking, entrapment and strangulation hazards. However, the Framingham, Massachusetts-based company has not received any reports of incidents or injuries related to the recalled product to date.

The recall involves Mittal International chenille weave baby blankets sold with a “Made in India” hangtag with an elephant design. They were available in cream, blush, taupe, mint, gray, lavender, ivory, ochre, pale blue, sage and terracotta colors.

The blankets have fringe around the edges and measure about 32 inches by 40 inches.

The recalled blankets were sold at HomeGoods, T.J. Maxx and Marshalls stores nationwide from September 2021 through July 2022 for between $10 and $13.

Apart from the 108,000 units sold in the United States, about 3,550 units were sold in Canada.

Consumers are urged to return the blankets to any HomeGoods, Marshalls or T.J. Maxx store for their choice of a full refund or store credit.

GSK: EMA Validates ViiV Healthcare’s MAA For Cabotegravir Long-acting Injectable For HIV Prevention

GSK plc (GSK,GSK.L) announced Friday that the European Medicines Agency or EMA has validated the marketing authorisation application by its majority owned specialist HIV company ViiV Healthcare for cabotegravir long-acting injectable for HIV Prevention.

The company seeks approval of cabotegravir long-acting injectable for pre-exposure prophylaxis or PrEP to reduce the risk of sexually acquired HIV-1. Cabotegravir long-acting for HIV prevention is administered six times per year, after initiation.

The marketing application is based on results from the HPTN 083 and 084 phase IIb/III studies in which the injectable medicine, given as few as six times per year, demonstrated superior efficacy to a daily oral PrEP option in reducing the risk of HIV acquisition.

The two phase IIb/III multicentre, randomised, double-blind, active controlled studies, HPTN 083 and HPTN 084, evaluated the safety and efficacy of cabotegravir long-acting for PrEP in HIV-negative men who have sex with men, transgender women, and cisgender women who were at increased risk of HIV.

Cabotegravir long-acting for PrEP is currently approved in the US, Australia and Zimbabwe as Apretude.

ViiV Healthcare is owned by GSK, along with Pfizer and Shionogi as shareholders.

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Electrolux Posts Loss For Q3, But Sales Rise

Electrolux AB (ELUXY.PK), a Swedish home appliance major, said in a third-quarter interim report that it has recorded a loss for the period, primarily driven by weak business performance in North American markets, that reported a substantial loss.

For the third quarter, the Stockholm-headquartered firm posted a loss of SEK 605 million or SEK 2.23 per share, compared with a profit of SEK 1.143 billion or SEK 3.98 per share of last year.

Operating loss amounted to SEK 385 million, compared with earnings of SEK 1.639 billion, posted for same period of 2021. Operating income includes a negative non-recurring item of SEK 350 million, related to the exit from the Russian market, impacting business in European market.

Weaker market conditions and supply chain hurdles resulted in a significantly elevated cost mainly in North American business segment that reported a loss of SEK 1.2 billion.

Electrolux’s third-quarter net sales, however, rose to SEK 35.244 billion from last year’s SEK 30.929 billion.

Looking ahead, the company said: “Consumer sentiment is also next year assessed to be negatively impacted by inflation and higher interest rates. Hence, market demand in both Europe and North America for the full-year of 2023 is expected to further deteriorate, i.e. be negative year-over-year.”

Computacenter Expects Modest Growth For Adj. Pre-tax Profit In FY22

Computacenter Plc (CCC.L), a British computer services provider, said in a trading update that it expects modest adjusted profit before tax growth for the full-year, helped by currency movements and its in-year acquisitions.

In addition, the company said during the quarter, all segments reported strong performance in Technology Sourcing.

Looking ahead, the company said: “As we look ahead into 2023, we look forward to another year of growth. The company continues to invest heavily in its future, particularly in its IT roadmap and, understandably, cyber security. These investments, as they increase, will continue to hold back short-term profitability, but we believe they are essential to secure our long-term success.”

IAG Posts Operating Profit Before Exceptional Items In Q3

International Consolidated Airlines Group S.A. (IAG.L,BAIRY.PK,BAY.L) reported third quarter operating profit before exceptional items of 1.21 billion euros compared to a loss before exceptional items of 485 million euros, prior year. Profit after tax before exceptional items was 853 million euros compared to a loss of 606 million euros.

Profit after tax for the third quarter was 853 million euros compared to a loss of 574 million euros, previous year.

Third quarter total revenue increased to 7.33 billion euros, compared to 2.71 billion euros. Passenger revenue increased to 6.42 billion euros from 2.00 billion euros. Passenger capacity in third quarter was 81.1% of 2019.

IAG’s overall passenger capacity plans are for approximately 87% of 2019 capacity for fourth quarter and approximately 78% for the full year 2022. The Group estimates capacity in the first quarter of 2023 to be approximately 95% of 2019.

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