Finance news – Page 252
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NewsMedia Bites 9 July: Deliveroo, Morrisons, B&M Bargains
Fears that the reopening of pubs and restaurants would take a big bite out of Deliveroo’s takings proved wide of the mark
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NewsSnappy Group to create 400 jobs with £20m in fundraising
Funding included a £6.6m investment from PayPoint
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NewsCity snapshot: Deliveroo ups sales forecast as second quarter orders surge past expectations
Food delivery player Deliveroo has enhanced its full year sales forecast after announcing its second quarter revenues were significantly ahead of previously announced expectations.
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NewsMedia Bites 8 July: Morrisons, Wetherspoon, HGV driver crisis
Morrisons has sought to head off political opposition to a private equity takeover of the supermarket
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NewsCity snapshot: Wetherspoon bemoans food taxes as temporary hospitality VAT cut approaches end
Wetherspoon chairman Tim Martin has criticised the ‘tax inequality’ between supermarkets and the leisure trade as the government’s temporary reduction in hospitality VAT nears an end in September.
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NewsMedia Bites 7 July: Morrisons, Sainsbury’s, Ocado
Ministers will ask to meet with Morrisons’ management to seek assurances about its future following a US takeover bid
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NewsJustin King appointed advisor to board of Ellie Goulding’s hard seltzer brand Served
King - also a non-exec at M&S and a member of PwC’s Public Interest Body, has joined as a senior board advisor
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NewsCity snapshot: Sainsbury’s upgrades earnings on strong Q1 sales
Sainsbury’s has raised its full year profits expectations after posting growth in its first quarter despite ’exceptionally tough comparatives’.
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NewsMedia Bites 6 July: Morrisons, Sainsbury’s, Retail Footfall
The UK’s largest asset manager has warned that private equity firms must not be allowed to acquire Wm Morrison for the ‘wrong reasons’
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NewsCathedral City owner Saputo acquires Wensleydale Dairy Products in £23m deal
The acquisition of the Wensleydale Creamery owner follows Saputo’s purchase of Sheese owner Bute Island Foods in May
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NewsMedia Bites 5 July: Morrisons takeover, Sainsbury’s, Asda
The papers delve into the news that Morrisons has accepted a £6.3bn takeover offer from an investor consortium led by private equity firm Fortress
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NewsCity snapshot: Morrisons shares surge on prospect of bidding war
Morrisons shares have jumped more than 11% this morning on the prospect of a bidding war for the UK’s fourth largest grocer after it accepted a £6.3bn offer over the weekend.
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NewsVegan startup Planty surges past £200k crowdfund target
The Veg Capital-backed business is currently overfunding, having so far raised £355k from 350 investors
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NewsBrakes suffers £234m loss as Covid clobbers hospitality market
Wholesaler Brakes fell to a £234m loss last year as the coronavirus pandemic wiped out its hospitality sales at the end of its financial year
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NewsGosh close to £50m takeover as plant-based demand rises
The Grocer understands the supplier, which produces vegan falafel bites, burgers and sausages, has received an offer to take over the company
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NewsSamworth Brothers axes Sci-Mx sports nutrition business
AIM-listed Supreme Imports has acquired the rights to use the brand name
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NewsCity snapshot: Gosh closes in on £50m buyout
Free-from brand Gosh is close to sealing a £50m deal with a new owner after it revived a three-year long M&A process amid soaring demand for plant-based foods
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NewsMedia Bites 2 July: GSK, Haribo, ABF/Primark
An American hedge fund has called on GlaxoSmithKline to consider a sale of its consumer healthcare business
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NewsCity snapshot: ABF grocery sales fall but Primark recovery drives revenue jump
Associated British Foods has reported a 47% jump in third quarter revenues as the re-opening of Primark stores mitigated a modest decline in grocery sales. Plus, Supreme buys SCI-MX, trading updates from PZ Cussons and C&C Group and all the rest of the latest news from the City.
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NewsMedia Bites 1 July: Inflation, Morrisons, GB/NI border
Source: Thinkstock The Bank of England’s outgoing chief economist has given his starkest warning yet that the institution is not doing enough to control inflation, saying that “everyone would lose” if it had to execute an “economic handbrake turn” (The Times £). The Bank of England is ...