Finance news – Page 14
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NewsFood inflation up to 4.9% despite first fall in CPI since March
Food inflation edged back up to 4.9% in October, making it the largest driver of consumer price rises last month
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NewsWH Smith CEO falls on sword as accounting errors laid bare
Stepping down, Carl Cowling said he recognised the ‘seriousness of the situation’, adding it was ‘only right’ he resigned
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NewsFoodservice supplier BonCulina enters administration
Anglia Crown Limited, which was trading under the BonCulina brand, appointed Kroll administrators Benjamin Wiles and Robert Armstrong on 10 November
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NewsOcado hit with ‘near knockout punch’ as Kroger announces CFC closures
Ocado’s share price fell by more than 19% in the wake of the announcement by the US retail giant
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NewsGail’s owner on hunt for new investors
It is understood advisers at Goldman Sachs have been brought in to begin discussions around potential investment opportunities
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NewsPremier Foods spends £36m to bring Loyd Grossman sauces in-house
Capital investment is expected to be phased through to 2029
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NewsImperial Brands beats profit expectations with smoking alternatives growth
Imperial Brands’ share price is trading at an eight-year high
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NewsCompleat picks up Greencore soup factory in pre-merger sell-off
Greencore is selling the factory after the government raised concerns over its Bakkavor merger
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NewsRed Bull hit by European Commission competition probe
The probe will seek to discern whether Red Bull tried to influence shops to ‘delist or disadvantage’ energy drinks in formats larger than its own distinctive 250ml can
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NewsAI-driven distributor Komerz buys Great Wines Direct
Komerz’s platform combines AI and data intelligence to help scale branded growth across categories, working with the likes of Amazon and Ocado
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NewsSeedlip founder raising £2m for Pollen Projects non-alcoholic drinks studio
Funds will be used scale sales, marketing and production for the two brands created so far by the business, Sylva and Seasn
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NewsShaken Udder acquired by Spanish ColaCao maker Idilia
The deal provides private equity backer LDC, which took a minority stake in the business in 2022, with an exit
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NewsSupermarket Income REIT makes first convenience store acquisitions
The investment fund said it increasingly saw opportunity in convenience
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NewsUrban Legend non-HFSS doughnut tech snapped up by Cadbury
It remains unclear in what capacity Cadbury owner Mondelez International, which was one of the major backers of Urban Legend, intends to use the equipment
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NewsMicrosalt shares soar as it lifts sales forecasts
Unaudited sales for the AIM-listed business totalled $1.7m in the 10 months to 31 October and the board is confident of exceeding its original expectations of $2m in full-year revenues, Microsalt said in a trading update this morning
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NewsJulienne Bruno brand rescued in pre-pack administration deal
The move adds to Compleat Food Group’s plant-based offering, sitting alongside vegan cheesemaker Palace Culture, acquired in 2023, and the Squeaky Bean and Vadasz brands
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NewsPremier Foods’ profits surge on sweet treats boom
The group’s sweet treats growth comes off the back of a raft of innovation
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NewsB&M switches up top team after profits plummet
The retailer’s share price crumbled to an all-time low after it revealed an accounts blunder last month
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NewsFDF: food sector confidence plummets to lowest levels since Covid ahead of Reeves’ budget
Business confidence among food and drink manufacturers has plummeted to its lowest level since the Covid pandemic
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NewsNorthern Pasta Co kicks off funding round to supercharge growth
The brand is aiming to raise £1m to accelerate its next stage of growth by scaling production, growing the team and investing in marketing and brand activation