Finance news – Page 148
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NewsMedia Bites 2 August: Alcohol duty/Diageo, Greggs, AG Barr
The world’s biggest spirits group has branded the government’s new alcohol duty regime as a stealth tax that will push up prices for consumers
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NewsCity snapshot: CCEP proposes $1.8bn acquisition of Coca-Cola Beverages Philippines
Coca-Cola Europacific Partners is in advanced talks to buy the Philippino Coke bottler from the Coca-Cola Company in a deal that could be worth $1.8bn. Plus, first-half results from Haleon and Kerry Group.
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NewsMeatless Farm European losses totalled €20m, new bankruptcy report reveals
Meatless Farm racked up losses of almost €20m (£17.1m) in just more than three years of operating in Europe, a new bankruptcy report in the Netherlands has revealed
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NewsKerry Group acquires Shanghai Greatang Orchard Food Co
Kerry Group has announced the acquisition of 100% of China-based foodservice player Shanghai Greatang Orchard Food Co
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NewsThe Cheeky Panda completes senior team with new hires
The Cheeky Panda has hired two new executives to complete its senior management team and ready the sustainable hygiene challenger for the next stage of growth.
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News2 Sisters firmly in the red amid supply chain woes
Turnover improvements were largely driven by inflation, said the business, which warned inflationary pressures had continued into 2023
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NewsAG Barr CEO Roger White announces his retirement
White will step down next year after 20 years at the helm of the Irn-Bru maker
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NewsCity snapshot: Diageo posts double-digit annual growth on strong pricing
Spirits giant Diageo has posted net sales growth of 10.7% driven by price rises and premiumisation, which mitigated a drop in sales volumes. Plus sales jump at Greggs, AG Barr CEO to step down, food inflation falls and all the rest of the news from the City
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NewsMedia Bites 1 August: Shop prices, Heineken, vaping
UK shop prices dipped month on month in July for the first time in two years, according to industry data published this morning.
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NewsFamily optimism at highest level in two years, according to M&S quarterly survey
Almost half (45%) said they felt optimistic about their family’s prospects for the next three months
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NewsDeposit return scheme body’s huge debts revealed
According to Companies House figures, Circularity Scotland Limited had racked up debts of £86.2m when it entered administration last month
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NewsMedia Bites 31 July: Sainsbury’s, British American Tobacco, Unilever
The boss of Sainsbury’s has called for people working on farms and in factories to be added to the official shortage occupation list
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NewsCity snapshot: Heineken cuts profit expectations as drinkers balk at higher prices
Heineken has lowered profit forecasts for the year after a weaker-than-expected first-half performance as higher prices put off drinkers.
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NewsCity News: Unilever beats expectations but falling market share concerns City
Unilever shares were buoyed increasing margins and sales that beat expectations in the first half, but concerns were raised over its falling market share as pricing hampered volumes
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NewsWarburtons profits hit by soaring input costs
Soaring input costs have slashed profits at baker Warburtons, though it has continued to grow sales in a “very competitive” market
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NewsLosses narrow at Harvey Nichols as footfall recovers
CEO Manju Malhotra has previously urged prime minster Rishi Sunak to reconsider his plan to drop VAT-free shopping for tourists
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NewsCity snapshot: Unilever hires Compass Group’s Ian Meakins as chair
Unilever has announced the appointment of Ian Meakins as chair designate to replace outgoing chair Nils Andersen
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NewsMedia Bites 28 July: Nestlé, Ocado, Oatly
Nestlé has said price rises will start to ease in the second half of the year, as the KitKat maker raised its sales outlook on better than expected performance in the six months to the end of June.
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NewsPlant & Bean owed creditors £6m at time of administration
Failed meat alternative manufacturer Plant & Bean ran up losses of at least £7m in just two years of trading and owed creditors more than £6m when it collapsed earlier this year, new documents have revealed.
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NewsOatly shares collapse as plant-based brand drastically cuts growth forecasts
Oatly shares have crashed once again as the embattled plant-based group drastically cut its sales outlook for the year