Finance news – Page 242
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News
Media Bites 19 July: Ocado, Morrisons, PMI
Ocado has cancelled thousands of orders after a fire at a fulfilment centre in south-east London on Friday
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NewsCity Snapshot: Parsley Box sales soar in H1 but board warns of slowdown as Covid restrictions end
Revenues at DTC meal delivery firm Parsley Box have soared following its IPO earlier this year as the pandemic continued to drive the number of customers using the service to record levels. However, its shares have tanked 20% this morning on worries over the long-term sustainability of the DTC model as Covid restrictions are fully lifted in the UK.
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NewsCity News: Tate & Lyle’s long-awaited split gets tepid investor response
Another week, another US private equity giant snaps up a UK-listed asset
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NewsWeetabix benefits from Covid breakfast boom to see sales rise
A resurgence of breakfasting during the pandemic helped Weetabix grow sales and profits last year, though pantry loading and reduced on-the-go consumption have hit volumes so far in 2021
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NewsFarmdrop sinks further into the red despite soaring pandemic sales
Fresh produce delivery service Farmdrop lost a further £10m last year despite a spike in sales during the pandemic, leading its auditor to warn it requires significant funding to continue
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NewsCity snapshot: DS Smith sells €50m Dutch paper mill amid focus on fmcg packaging
DS Smith has announced it has agreed to sell its De Hoop paper mill in the Netherlands to De Jong Packaging for a cash sum of €50m (£43m) as it continues to shift focus to fibre-based fmcg packaging.
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NewsMedia Bites 16 July: Food strategy, Just Eat Takeaway.com, Philip Morris
Boris Johnson has poured cold water on the National Food Strategy commissioned by his own government, saying he would not support higher taxes on salt and sugar in food
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NewsDoisy & Dam appoints fmcg veteran Mike Hedges as chairman
Confectionery challenger brand Doisy & Dam has appointed fmcg veteran Mike Hedges as chairman ahead of a £300,000 crowdfunding push.
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NewsFearne & Rosie turns down Dragons’ Den offer in favour of Giles Brook backing
The Yorkshire-headquartered business has partnered with Giles Brook as it readies to scale up expansion in the fast-growing category
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NewsCity snapshot: Just Eat Takeaway.com ups growth expectations after strong second quarter
Takeaway delivery giant Just Eat has raised its full year growth expectations after first half orders jumped 61%
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NewsMedia Bites 15 July: John Lewis Partnership, National Food Strategy, Sainsbury’s, SSP Group
A busy morning in the papers sees stories on another 1,000 job cuts at John Lewis and Waitrose, the next part of Henry Dimbleby’s National Food Strategy, Sainsbury’s encouraging customers to continue wearing face coverings from next week, and the chief executive of SSP resigning.
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NewsCovid and poor potato crop hit trading at McCain GB
Frozen potato giant McCain saw drop in annual sales and fell to a loss last year as Covid hit its out of home sales and it suffered from a poor potato crop
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NewsHoulihan Lokey expands coverage of consumer market with Baylor Klein acquisition
Investment bank Houlihan Lokey has acquired boutique advisory firm Baylor Klein in a move that bolsters its coverage of the consumer sector
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NewsMedia Bites 14 July: PepsiCo, British Land, Morrisons
PepsiCo will increase its prices this year after it raised its full-year earnings forecast on surging demand for its drinks from people flocking to restaurants and theatres
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NewsCity Snapshot: SSP Group chief executive Simon Smith quits Upper Crust owner
SSP Group chief executive Simon Smith has quit his role at the Upper Crust and Ritazza owner to pursue opportunities elsewhere. Plus, trading updates from Finsbury Food Group, Science in Sport and McBride.
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NewsBepps bags six-figure backing from Mission Ventures’ Good Food Fund
As well as the funding, Bepps will also receive support and advice from Missions Venture, the food and drink start-up accelerator behind the Good Food Fund.
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NewsCity snapshot: Retail sales surge in June to create fastest quarterly growth on record
Retail sales strongly rebounded in June as shoppers returned to stores and grocery sales remained robust despite the reopening of pubs and restaurants
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NewsMedia Bites 13 July: Tate & Lyle, Uber, retail sales
Tate & Lyle has agreed to sell a controlling stake in its commercial sweeteners division in the Americas to KPS Capital Partners in a $1.3bn deal as the food group pivots towards healthier products.
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NewsCity snapshot: Tate & Lyle to split with £1.2bn sweeteners arm sale
Tate & Lyle is to divest its sweeteners division after this morning announcing it has agreed a £1.2bn deal with private equity player KPS Capital Partners to sell a controlling stake in the business
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NewsMedia Bites 12 July: Morrisons, Philip Morris, Ocado
Morrisons has written to farmers to calm fears that a planned takeover could undermine its agreements with suppliers