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Wall Street Speaks: ‘The recent S&P 500 rally may offer limited scope for further gains'

Wall Street Speaks: ‘The recent S&P 500 rally may offer limited scope for further gains'

Business Post11-05-2025
Markets
Wall Street Speaks: 'The recent S&P 500 rally may offer limited scope for further gains'
Andrew Ross
17:31
Bill Ackman is a longtime admirer of Warren Buffett and on Monday called him 'one of my most important heroes, certainly in business and I would say in life.'
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Co. Wexford farm family take part in M&S Food campaign
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  • Agriland

Co. Wexford farm family take part in M&S Food campaign

M&S Food has announced its 'Farm to Foodhall' campaign, which highlights M&S Food's "unwavering commitment" to sourcing fresh, high quality Irish produce. The latest instalment introduces the Dunne family, the Co. Wexford based family yogurt producers. Nicholas Dunne, his sister Pauline, son Charlie, and the wider family circle, supply M&S with their premium Irish yogurt from their dairy farm. M&S Food ambassador, Mark Moriarty met with the Dunne family on the Co. Wexford dairy farm, where the family has been creating high quality Irish yogurt for the past 20 years. Moriarty discussed cows' natural environment, green grass grazing, and the love, care, and attention that goes into rearing the animals, and how this translates to the quality and flavour of the yogurt found in the M&S Foodhall. The campaign highlights some of the farmers and producers across Ireland who supply trusted quality Irish food to M&S customers, as well as the ongoing work they're doing to expand upon their existing range of products sourced from Ireland. M&S Food ambassador, Mark Moriarty said: "It was a privilege to connect with Nicholas, Pauline, and their extended family at their Wexford dairy farm. "Witnessing firsthand the passion infused into every M&S yogurt truly exemplifies their dedication to delivering the finest quality produce. There's something special about enjoying a product that is created right there on the family's dairy farm whilst surrounded by the animals and beauty of nature. "With sensational flavours and deliciously creamy yogurt, it is cultivators like the Dunnes who ensure consumers have access to exceptional products when they shop at M&S,' Moriarty added. Videos from M&S Food's 'Farm to Foodhall' campaign feature stories of passionate people, producing the "best quality", seasonal, and sustainable food. Commenting on the campaign, trading director at M&S Ireland and Northern Ireland, Laura Harper said: 'Our Farm to Foodhall campaign concludes by celebrating the outstanding contributions of the Dunne family Farm in Co. Wexford. "We are thrilled to share their story, guaranteeing our customers consistently delicious and high-quality yogurt with exclusive flavours designed for M&S shoppers," Harper added.

S&P affirms US 'AA+' credit rating, cites tariff revenue
S&P affirms US 'AA+' credit rating, cites tariff revenue

RTÉ News​

time4 hours ago

  • RTÉ News​

S&P affirms US 'AA+' credit rating, cites tariff revenue

S&P Global has affirmed its 'AA+' credit rating on the US, saying the revenue from President Donald Trump's tariffs will offset the fiscal hit from his recent tax-cut and spending bill. Donald Trump signed the massive package of tax-cut and spending bill, dubbed the 'One Big Beautiful Bill Act', into law in July. The bill, which delivered new tax breaks, also made Trump's 2017 tax cuts permanent. "Amid the rise in effective tariff rates, we expect meaningful tariff revenue to generally offset weaker fiscal outcomes that might otherwise be associated with the recent fiscal legislation, which contains both cuts and increases in tax and spending," S&P said in a statement. "At this time, it appears that meaningful tariff revenue has the potential to offset the deficit-raising aspects of the recent budget legislation." The US reported a $21 billion jump in customs duty collections from Trump's tariffs in July but the government budget deficit still grew nearly 20% in the same month to $291 billion. Since returning to power in January this year, Trump has launched a global trade war with a range of tariffs that have targeted individual products and countries. The president has set a baseline tariff of 10% on all imports to the US, as well as additional duties on certain products or countries. S&P said the outlook on the US rating remains stable. The ratings agency expected the Federal Reserve, which Trump has often criticised for not cutting rates fast, "to navigate the challenges of lowering domestic inflation and addressing financial market vulnerabilities." It projected the country's general government deficit to average 6% of GDP during the 2025-2028 period, down from the 7.5% in 2024, and from an average 9.8% of GDP in 2020-2023. Peer Moody's downgraded the US sovereign debt rating in May citing rising debt.

Marks and Spencer offers discount to Irish shoppers before online store reopens
Marks and Spencer offers discount to Irish shoppers before online store reopens

Irish Daily Mirror

time18 hours ago

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Marks and Spencer offers discount to Irish shoppers before online store reopens

Marks and Spencer has announced a special discount for Irish customers as it prepares to reopen its online shopping service following a cyber attack last year. The retailer confirmed that while its UK website has already resumed click-and-collect orders, Irish shoppers are still unable to buy online. However, Marks and Spencer says a full return of services here is coming "soon". In the meantime, the brand is offering 20% off fashion and home purchases in Irish stores until Wednesday, August 20 as a thank you to customers for their patience. Managing Director of Fashion, Home and Beauty, John Lyttle said: "To our valued Irish customers, thank you for your patience as we continue to work hard behind the scenes to restore our services to you. "We plan to have them all fully back up and running soon. To thank you for your support, customers can enjoy 20% off when shopping in-store on fashion and home. "This can be accessed on our M&S app from Thursday 14 August to Wednesday 20 August. Our stores across Ireland remain open and our colleagues are ready to welcome you." The supermarket stopped taking orders on its website after it was targeted over Easter weekend back in April. Contactless payments in stores were also affected and Marks and Spencer was forced to temporarily shut down part of its IT system. Customer data, including names, email addresses, addresses and dates of birth - but not card or payment details - was stolen in the cyber attack. At the time, CEO Stuart Machin told customers: "I'm writing to let you know that over the last few days M&S has been managing a cyber incident. To protect you and the business, it was necessary to temporarily make some small changes to our store operations, and I am sincerely sorry if you experienced any inconvenience." The supermarket has advised shoppers to take extra caution if they are contacted by someone who claims to be from Marks and Spencer. Customers are also being prompted to change their password if they've yet to log in to the Sparks app following the hack. The cyber attack is expected to cost the company around £300million (€350m). Last month, Mr Machin had said Marks and Spencer expected operations to be running fully again by August. Speaking to shareholders at the retailer's annual general meeting, he said: "Since these attacks took place, specialist NCA cybercrime investigators have been working at pace and the investigation remains one of the Agency's highest priorities. Today's arrests are a significant step in that investigation but our work continues, alongside partners in the UK and overseas, to ensure those responsible are identified and brought to justice. "Cyber attacks can be hugely disruptive for businesses and I'd like to thank M&S, Co-op and Harrods for their support to our investigations. Hopefully this signals to future victims the importance of seeking support and engaging with law enforcement as part of the reporting process. The NCA and policing are here to help." Subscribe to our newsletter for the latest news from the Irish Mirror direct to your inbox: Sign up here.

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