Finance news – Page 28
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NewsNestlé turnaround plan gets muted market reaction
Nestle’s share price has sat in the doldrums of late and is down 23% since the start of the year
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NewsAllplants enters administration as 65 staff made redundant
Frozen ready meal challenger Allplants has officially entered administration today, with 65 staff losing their jobs and investors facing losses of almost £70m
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NewsLittle Freddie babyfood pouches fail WHO sugar standard, despite claims
Little Freddie babyfood pouches fail to meet World Health Organization standards for on-pack sugar labelling, despite the brand claiming it is “always” reflective of the body’s guidelines.
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NewsMedia Bites 22 November: retail sales, energy bills and farming row continues
Retail sales have “plunged” in October, with a spike in consumer confidence meaning retailers can expect to see a strong golden quarter ahead
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NewsCity snapshot: Consumer confidence improves in wake of budget
Businesses have warned that big tax rises in the budget will lead to job losses and pay cuts but that is having little effect on Brits’ mood. Also, the Competition and Markets Authority will allow more deals to go ahead to help boost growth.
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NewsAllplants seeks a buyer to save plant-based brand from collapse
Plant-based ready meal maker Allplants is teetering on the edge of collapse and is working with insolvency advisors to explore all options for the brand’s survival
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NewsCity snapshot: PZ Cussons steadies ship after Nigerian turbulence
Ahead of its AGM later today, PZ Cussons said it expects 5% like-for-like revenue growth in the first half of its financial year, largely led by growth in the UK. Also, Tereos profits fall due to lower prices for sugar and sweeteners.
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NewsBakers union BFAWU ‘furious’ at Morrisons proposal to close Rathbones
The Bakers, Food and Allied Workers Union said the decision was ‘beyond disappointing’ and added even more jobs in the supply chain, as well as agency workers, would be impacted
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NewsThree-Sixty Aquaculture raises £3.5m for UK’s first sushi prawn farm
The business has developed the UK’s only indoor prawn farm with sales to commence in 2025
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NewsVirtue Drinks lands investment from James Watt and Eberechi Eze
The business has now raised over £5m since launching in 2016
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NewsMorrisons to shutter bakery Rathbones with 400 jobs at risk
Morrisons is set to shutter Rathbones bakery after exploring all options for the manufacturing facility, with almost 400 workers facing redundancy as a result, The Grocer has learned
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NewsCity snapshot: Lidl swings back to profit as shoppers switch from rivals
Lidl has bounced back into the black in the UK as shoppers switched more than £500m of spending to the disctounter from rival supermarkets. Plus, annual results from Britvic, UK inflation jumps by more than expected and Gusbourne partners with Enotria&Coe
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NewsMedia Bites 20 November: farming protests, FDF report, Wegovy
The newspapers are full of colourful accounts of yesterday’s protests in which 13,000 farmers took to the streets of Whitehall
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NewsSpring Food secures £100k to capitalise on rise of bone broth
The Essex-based business, which launched in 2017, makes a range of almost 30 bone broth products sold online and through its network of partners
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NewsMedia Bites 19 November: National Insurance, farming protests and BrewDog closures
More than 70 retail businesses have warned job losses will be “inevitable” in the wake of the budget
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NewsCity snapshot: Nestlé to spin off bottled water and cut costs by another £2.2bn as part of new action plan
Nestlé will spin-off its bottled water business as part of new plans for turning around the ailing food giant revealed ahead of today’s Capital Markets Day for investors and analysts. Plus, full-year results from Imperial Brands
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NewsRetail will be hit with additional £7bn in costs from next year, industry chiefs warn Chancellor
Costs including rising employers’ national insurance will make job losses and price rises inevitable according to the letter orchestrated by the BRC, which calls for a meeting with Rachel Reeves to discuss measures to reduce the impact
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NewsKeystone Brewing ‘explored’ buying Fourpure in joint deal with In Good Company
The Breal-backed group held ‘several weeks of negotiations’ with the distressed brewer’s parent company
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NewsNorth Brewing founders step down to focus on hospitality business
It comes after North was rescued by Kirkstall Brewery director Steve Holt in January
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NewsToothpaste tablet maker Pärla closes in on £400k raise
The tablets are entirely plastic-free and can be chewed until they turn creamy