Greggs has raised its profit forecasts for the third time this year, on the back of the popularity of its vegan sausage roll. In a trading update, Greggs said that total sales jumped 15.1% in the first 19 weeks of 2019, compared to a 4.7% rise during the same period the year before. In addition, company-managed shop like-for-like sales jumped 11.1%, a huge rise on 2018’s 1% increase. The bakery chain attributed the strong performance to the successful launch of its vegan sausage roll. The firm has benefited from the marked rise in Veganism across the U.K, with many people turning to meat-free options over health concerns, or in a bid to reduce their carbon footprint. Commenting on the success of the vegan product, the company said in the trading update: “This built on a strong finish to 2018 and was further boosted by the publicity surrounding the launch of our vegan-friendly sausage roll. Sales since then have continued to grow very strongly, helped by the roll-out of vegan-friendly sausage rolls to all shops following limited availability in the early part of the year when demand outstripped supply.” Greggs also said it opened 8 new shops across the period, as well as closing 22 locations. Overall, the company said that on the back of strong sales figures, the board now expects annual underlying profits, before exceptional costs, to be ‘materially higher’ than previously anticipated. Shares in Greggs (LON:GRG) are currently trading +13.85% as of 11:26AM (GMT).  

The UK unemployment rate for the first three months of 2019 fell to 3.8%, marking the lowest level since 1974. The Office for National Statistics (ONS) said that the unemployment level fell from 3.9% the previous month. Meanwhile, the UK employment also rate rose to 76.1%. The ONS also said that average weekly earnings in the UK rose by 3.3% during the period. The government employment figure, Alok Sharma, welcomed the figures. He commented: “Rising wages and booming higher-skilled employment means better prospects for thousands of families, and with youth unemployment halving since 2010, we are creating opportunities for all generations.” “We now need to shift some of our focus to up-skilling people and supporting them into roles with real career progression to create a modern workforce fit for the challenges of the 21^st Century.” The unemployment figures are a welcoming sign that the UK economy is more resilient then expected given ongoing political and economic volatility. The ONS is an independent non-ministerial department that supplies national statistics for the UK. It was formed back in April 1996.    

Amazon (NASDAQ:AMZN) and Next (LON:NXT) are set to launch a click and collect service which will allow online Amazon parcels to be collected from Next stores. Customers will be able to collect their online deliveries from hundreds of Next stores across the country. Based in Seattle, Washington Amazon.com is a multinational American technology firm that focuses on e-commerce. It boasts the largest online marketplace and cloud computing platform across the globe. It will partner with Next, the British multinational clothing, footwear and home products retailer. Headquartered in Enderby Leicestershire, Next as roughly 700 stores in the UK, Europe, Asia and the Middle East. Amazon currently offers the self-service parcel delivery option to lockers across the UK. These operate by customers selecting a specific locker location and entering their unique delivery code into the locker in order to retrieve their items. The new Next delivery option will join Amazon’s current alternative delivery option. “We see it as a great way to create more convenience for our customers and create a win-win situation for the retailers who partner with us,” Amazon’s director of lockers and pick-up Patrick Supanc commented, according to Reuters. Adding the in store collection option could assist in boosting footfall for the high street retailer. Next recently beat the gloomy trading environment to hit the UK high street as it announced the unusually warm weather over the Easter holiday period boosted its full price sales. Earlier in April, Google’s parent company Alphabet (NASDAQ:GOOGL) was granted approval to operate its drone-delivery business Wing in the skies over Australia. The firm had been testing the delivery of food, beverages and medication over the past year and a half, but it has now been granted approval by Australia’s Civil Aviation Safety Authority (CASA). As of 19:59 GMT -4 Monday, shares in Amazon.co Inc. (NASDAQ:AMZN) were trading at -3.56%.

German multinational financial services company Allianz (ETR:ALV) announced posted a 7.5% increase in operating profit for the first quarter of the year. Operating profit amounted to €3 billion, a 7.5% increase compared to the same period a year prior. This was mostly driven by Allianz’s Property-Casualty business segment following strong premium growth, lower claims from natural catastrophes and a improved expense ration. The higher operating profit figure was also largely offset by lower non-operating investment income and higher taxes, Allianz said. Internal revenue also grew by 7.5% over the period. Total revenues grew 9.1% to €40.3 billion. Allianz posted a net profit attributable to shareholders of €1.969 billion, according to Reuters, and this figure is just above the €1.908 billion profit projection given by analysts in a Reuters poll. “Allianz achieved strong results in the first quarter putting the group on track to meet its 2019 full-year targets,” Oliver Bäte, Chief Executive Officer of Allianz SE, commented on the results. “Our customers continue to seek quality and service, both of which we are consistently focusing on. Despite economic and political volatility, we are very well positioned to further develop our franchise,” the Chief Executive Officer continued. Headquartered in Munich, Germany, Allianz’s core businesses are insurance and asset management. Looking ahead, Allianz has confirmed its operating profit outlook for 2019 at €11.5 billion, plus or minus €500 million. Following the announcement of its new share buy-back program in February of up to €1.5 billion, 2.8 million shares have been acquired as of 31 March. This represents 0.7% of outstanding capital. According to Bloomberg, Allianz has estimates it will pay roughly €100 million worth of claims connected to mine disruptions at Vale SA and the Boeing 737 MAX crash which was followed by the global grounding of the aircraft model. Allianz is one of the companies that insured Boeing’s airline manufacturer liability policy, according to Bloomberg. A Bloomberg Intelligence estimate claims from the two airplane crashes could cost $1 billion.

Uber has placed itself at the lower end of its targeted range at $45 (£34.50) a share, giving it a valuation of $82 billion. The taxi hailing app opted to price its shares at the lower end of its $44 (£33.80) to $50 (£38.40) target amid market concerns over profitability and rival Lyft’s public debut. Lyft shares fell as much as third following its debut on the stock market, amid growing concerns that the company is struggling to prove profitable. Nevertheless, Uber’s valuation still makes it the biggest tech IPO since Facebook’s (NASDAQ:FB) debut seven years ago. Uber was founded ten years ago in 2009. It has quickly come to be credited as having disrupted the transport industry, having now become one of the most well-known tech companies in the world. Nevertheless, its rise has been marred by a series of public controversies as well as various high-profile management exits, including co-founder Travis Kalanick, who departed amid allegations of misconduct. Uber is also under fire over disputes regarding how it treats its drivers. In response, the firm has repeatedly attempted to classify as ‘self-employed’. Nevertheless, Uber ultimately lost an appeal against a landmark employment tribunal which argued that its drivers should be in fact classed as employees, in turn appropriating greater rights. Ahead of its highly anticipated IPO, drivers in the UK and US went on strike this week, protesting against pay and long hours. Alongside this, the California-based firm has also increasingly struggled to capitalise on its popularity effectively, having lost almost $9 billion (£6.9 billion) since its inception.