Finance news – Page 154
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NewsSainsbury’s to invest £5m in sustainable tech startups
Sainsbury’s will invest a minimum of £5m over the next four years into the chosen startups
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NewsBidcorp UK acquires Nicol Hughes Foodservice
Nicol Hughes Foodservice specialises in delivering ambient, frozen, chilled and non-food products to north west England and north Wales
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NewsMedia Bites 26 July: Amazon Prime, Morrisons, Premier Foods, Aldi
Amazon is increasing prices for its Prime membership scheme across its major European markets.
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NewsCity Snapshot: Unilever price hikes drive strong first half growth
Unilever has posted first half growth of more than 8% due to soaring prices, but margins were hit by mounting input cost inflation. Plus monthly grocery figures from Nielsen and trading updates from Greencore and Compass Group.
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NewsHeura continues rapid expansion as first-half sales double
Plant-based supplier Heura has doubled sales in the first six months of 2022 as it expanded distribution of its range across Europe.
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NewsCity Snapshot: Premier Foods snaps up The Spice Tailor for £44m
Premier Foods has acquired Indian meal kits brand The Spice Tailor for £44m as the Sharwood’s and Loyd Grossman owner looks to capitalise on growing demand for scratch cooking. Plus, Aldi gives staff a second pay rise of the year; and Naked Wines loses CFO.
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NewsMedia Bites 25 July: FMCG results, The Co-op, UK retail sales
Some of the world’s largest consumer goods producers face a hit to sales in the coming months as shoppers switch to cheaper supermarket own-brands
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NewsCity News: Ocado’s whopping £211m loss leaves City sceptics feeling justified
Ocado has never been best known for making a profit, but plunging to a £211m loss in the first half went some way to justifying investor scepticism so far this year
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News2 Sisters hit by labour crisis and cost hikes
Losses almost tripled at UK chicken giant 2 Sisters last year as rising commodities costs and labour shortages hit its bottom line
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NewsCity Snapshot: UK retail sales fall as shop price inflation nears 10%
UK retail sales fell back again in June, falling 0.1% month-on-month as consumers bought fewer items at higher prices, according to the Office of National Statistics
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NewsMedia Bites 22 July: Ocado, M&S, GoPuff, Britvic, Amazon
The papers give plenty of coverage to the latest Ocado results and the surprise exit at M&S of CFO Eoin Tonge.
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NewsMackie’s at Taypack to go it alone as Taylor family take control of joint venture
Scottish food group Mackie’s has sold its holdings in the company’s premium crisp brand to its joint venture partner to focus exclusively on ice cream and chocolate.
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NewsRevive Eco smashes crowdfunding target to scale up palm oil alternative
A biotech start-up creating palm oil alternatives from used coffee grounds for the food & drink and cosmetics industries has smashed its crowdfunding target, bringing in more than double its £150k goal.
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NewsM&S buys its logistics provider Gist to accelerate supply chain transformation
M&S had launched Project Vangarde, a supply chain optimisation programme, in 2020 in order to increase efficiency across its expanding Food business
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NewsCity snapshot: Ocado falls to £211m first half loss amid retail slowdown
Ocado has posted a £211m first half pre-tax lox amid a fall in retail sales as trading was hit by tough comparatives the rising cost of living crisis. Plus Britvic posts ‘robust’ first half growth, M&S CFO to depart and all the latest news from the City.
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NewsMedia Bites 21 July: Petrol prices, inflation, Premier Foods, Royal Mail
The UK’s leading motoring organisations have accused the biggest supermarkets in the country of not passing on the drop in wholesale fuel prices to customers, with one urging the market regulator to reopen an investigation.
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NewsRollagranola rescues Primrose’s Kitchen brand from liquidation
Granola manufacturer Rollagranola is aiming to return upmarket muesli brand Primrose’s Kitchen to supermarket shelves after rescuing it from liquidation.
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NewsPremier Foods hails growth as its brands appeal to cash-strapped shoppers
Premier Foods has reported a “strong start” to the year as its stable of noodles, sauces and stock cubes helped shoppers in search of cheaper meals.
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NewsMedia Bites 20 July: Grocery market share, Hotel Chocolat, Ocado Retail
Inflation in the price of groceries is close to a record high of nearly 10%, costing shoppers an additional £454 a year at the till
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NewsCity Snapshot: Food prices rise faster than headline rate of inflation
Food and drink prices have soared higher than the headline rate of inflation in June as sharp rises in input costs fed through to supermarket shelves. Plus, Premier Foods reports a “strong start” to its financial year; and Finsbury Food Group issues a pre-close trading update.