Finance news – Page 176
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NewsCity snapshot: Retail sales rebound in January as Omicron fears ease
Retail sales rebounded sharply in January as concerns over the Omicron Covid variant and associated restrictions eased
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NewsGrowUp Farms secures £100m in funding for vertical farm in Kent
The investment will deliver a new low-carbon farm to bring fresher, longer-lasting salads to supermarket shelves year-round, the business said
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NewsCity snapshot: Nestlé posts strong growth but inflation hits margins
Nestlé has reported strong annual growth in 2021, driven by continued retail growth and a recovery in out of home, though profit margins were hit by cost inflation. Plus Ocado and Groupe Casino deepen partners and Reckitt’s margins hit by costs.
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NewsMedia Bites 17 February: Heineken, inflation, Kraft Heinz, M&S
Heineken’s chief executive has warned that “off the charts” cost inflation will further push up the price of a pint and said the risk of outright shortages was growing as brewers face persistent challenges delivering beer to pubs, restaurants and supermarkets.
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NewsKraft Heinz boosts sales with higher prices
Kraft Heinz is the latest fmcg giant to rely on price hikes to lift sales and protect margins against increased input costs
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NewsCity Snapshot: Inflation hits new 30-year high in January
Inflation hit a new 30-year high last month as prices continued to climb despite January sales. Plus, Heineken bounces back but warns prices rise could hit demand for beer; full-year results from Coca-Cola Europacific Partners and Kerry Group; and Treatt appoints new CFO.
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NewsMedia Bites 16 Feb: Insolvencies, Brexit/Ireland, Cost of living
orporate insolvencies in England and Wales began to return last month to levels last seen before the pandemic as more businesses failed over debts
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NewsBooze-free spirits brand Lyre’s brings in investment banker to ramp up growth
Non-alcoholic spirits giant Lyre has brought in an investment banking specialist to lead fundraising efforts and target M&A opportunities to boost its global growth
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NewsFarmdrop report lifts lid on administration with suppliers and investors to lose millions
Farmdrop suppliers, lenders, staff and shareholders are set to lose out on millions of pounds as a result of the online grocer’s dramatic Christmas collapse
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NewsCity snapshot: Kerry Group agrees €137m deal for German biotech firm
Kerry Group has agreed a €137m deal to by German biotechnology company c-Lecta as it builds its presence in the food and nutrition technology space
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NewsMedia Bites 15 February: Petrol, Motor Fuel Group, Post Office
Petrol prices have hit record highs, putting further strain on families as the cost-of-living crisis worsens.
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NewsHoxton Spirits receives £1m investment from Optiva Securities
Hoxton Spirits has secured a seven-figure cash injection to fund its international expansion ambitions and grow its retail presence in the UK
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NewsCity snapshot: Ultimate Products says global supply chain issues are improving
Homeware and household brands owner Ultimate Products has posted double-digit first half growth and pointed to improvements with global supply chain issues
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NewsMedia Bites 14 Feb: Supermarket petrol, John Lewis/Waitrose, British American Tobacco
Supermarkets stand to rake in bumper petrol profits as the soaring price of oil threatens to exacerbate the cost-of-living crisis
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NewsPaleo Ridge secures investment of £2m to back expansion plans
Raw dogfood specialist Paleo Ridge has secured a £2m investment from PE player Ashridge Capital to boost its rapid expansion plans
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NewsOcado shares plummet as it ploughs investment in tech
Ocado’s share price slumped to wipe out all its pandemic-driven gains this week after continued investment in technology saw losses balloon and guidance was lowered for 2022
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NewsKitwave acquires Devon-based foodservice supplier MJ Baker
Listed wholesaler Kitwave has acquired Devon-based foodservice supplier MJ Baker Foodservice to grow its presence in the category. The business will be incorporated into Kitwave’s existing foodservice division which currently has the existing trading operations of HB Clark & Co and David Miller Frozen Foods Limited. ...
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NewsCity snapshot: Tate & Lyle’s food and beverage solutions posts 19% sales jump
Tate & Lyle has posted continued strong growth in its core food and beverage solutions business in the third quarter to upgrade full year expectations for the division
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NewsMedia Bites 11 Feb: Unilever, Coke/Pepsi, Beer sales
Unilever expects the strongest cost inflation in decades to hit profitability for two years, adding to pressure on chief executive Alan Jope
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NewsNurture Brands close to landing £2.5m funds to push expansion
Plant-based group Nuture Brands is closing in on a £2.5m crowdfunding target to fuel international expansion across North America and Asian markets.