Finance news
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NewsNewlat to buy Diageo operations in Italy to grow drinks exposure
The factory in northern Italy produces alcoholic and non-alcoholic drinks
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NewsJTI takes controlling stake in UK’s biggest independent vape company Flavour Warehouse
JTI confirmed the deal, saying it was ‘in line with our exploratory approach for reduced-risk products beyond heated tobacco sticks’
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NewsMedia Bites 13 May: consumer spending, pub sales, immigration and labour market
Warm weather has boosted consumer spending but wage growth has slowed
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NewsFood sales soar as sunny weather boosts Easter spend
Retailers have been enjoying a boost from sunny weather, with both food sales and total retail sales up year on year in April, according to the BRC
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NewsUnited Wholesale Scotland moves south with Time Wholesale acquisition
United Wholesale Scotland will take over the business in July
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NewsMedia Bites 9 May: trade deals, tariffs and empty shelves
It was wall-to-wall trade deal talk yesterday, with Trump calling the US-UK agreement ‘comprehensive’, despite it being anything but
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NewsCampari misses sales forecasts on ‘soft’ first quarter trading
Revenues at the Aperol supplier declined by 4.2% to €665.6m in the three months ended 31 March
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NewsTariff fears prompt Molson Coors to lower sales and earning forecasts
Molson Coors sales in the three months ended 31 March fell by 11.3% on a reported basis
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NewsGlebe Farm Foods partners with Three Robins to scale gluten-free oat drink production
Glebe Farm Foods’ facilities will produce Three Robins’ oat drinks
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NewsWeightWatchers files for bankruptcy amid GLP-1 drug boom
WeightWatchers said it was navigating a ‘rapidly evolving weight management landscape’
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NewsMedia Bites 8 May: UK-US trade deal, WW bankruptcy, resilient coffee
UK set to agree a trade agreement with the US that would see some loosening of the tariffs and trade barriers imposed by Trump’s liberation day tariffs
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NewsAB InBev profits smash forecasts despite soft volumes
AB InBev, the world’s largest brewer, reported a 7.9% increase in operating profit in the three months ended 31 March
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NewsPoundland adds Modella Capital to ‘shortlist’ of potential buyers
Private equity firm Modella, which recenly bought WH Smith’s high street stores for £76m, is said to be among a handful of bidders for Poundland
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NewsAvara Foods appoints new CEO to succeed departing Andy Dawkins
Andy Dawkins will remain as a non-executive director of Avara Foods Holdings
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NewsMedia Bites 7 May: trade pacts, Jason Tarry, tartare sauce
Government trade deals around the globe dominate the headlines
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NewsReciprocal trade tariffs will force UK small businesses to quit US market, data shows
Importers are concerned about the impact of reciprocal tariffs on US goods as increased costs wreak havoc for British exporters
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NewsKingsmill supplier ABF confirms merger talks with Hovis owner Endless
The mooted deal ‘could be structured as an acquisition of Hovis by ABF, according to analysts’
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NewsDoorDash acquisition of Deliveroo approved by board
US food delivery giant DoorDash is to acquire Deliveroo for £2.9bn
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NewsOppo ice cream disappears from Tesco following ‘pressure on price’
It ‘wasn’t economical for us to continue being a supplier to Tesco’ said Oppo
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NewsValeo acquires Italian sweet bakery manufacturer Freddi Dolciaria
Sponge cake specialist Freddi Dolciaria is headquartered in Castiglione delle Stiviere