Finance news – Page 304
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NewsFears Agriculture Bill is prioritising US deal
The government won a vote against amendments that would require food imports to abide by the same standards as British production
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NewsScheff Foods shifts business focus from foodservice to retail
Scheff said it was also open to working with other manufacturers struggling to fulfil orders for retailers
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NewsMedia Bites 14 May: Tesco, Trade Credit, Alternative Meat
Tesco executives were able to enjoy a pay boost after online supermarket Ocado was removed from a group used to calculate comparative returns.
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NewsCity snapshot: WH Smith revenues plunge 85% in global lockdown period
WH Smith has said its revenues slumped by 85% year-on-year in April amid widespread coronavirus lockdowns and a collapse in air travel as the coronavirus outbreak has a “significant” impact on its business.
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NewsCrowdcube reports activity resurgence as brands settle into ‘new normal’
The level of investment into businesses on Crowdcube reached £9.2m last month, up 58% on March
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NewsPoundland to reopen its 100 temporarily closed stores starting next week
Thirty-six stores will reopen from Monday 18 May with the rest to follow, the variety discounter said
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NewsGovernment agrees plan to underwrite trade credit insurance
The move is designed to keep supply chains moving during the coronavirus crisis
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NewsCity snapshot: Stock Spirits reports ‘minimal’ impact from coronavirus pandemic
Stock Spirits said trading remained resilient after reporting a 15% increase in first half revenues. Plus, UK retail sales dropped almost 20% in April, Applegreen enhances liquidity position and all the rest of the latest news from the City.
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NewsMedia Bites 13 May: Morrisons, Sainsbury’s, UK Retail
Online deliveries boost Morrisons’ first quarter sales, Sainsbury’s hand out almost £2m in bonus shares and Britain’s retailers warn of mounting risk of shop closures and job losses.
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NewsSpecialist food and drink stores see 40% sales hike in April
Online spending for eating and drinking – which includes takeaways – also saw growth of 24.6%
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NewsVegan protein powder brand Neat Nutrition turns to the crowd
The 2015-established company hit Crowdcube last week looking to raise a minimum of £125k
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NewsMorrisons to launch ‘speedy shopper’ system for food-to-go customers
Morrisons reported a 5.7% rise in group like-for-like sales in its latest quarter
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NewsSainsbury’s appoints Weed and Kapilashrami as non-exec directors
Keith Weed and Tanuj Kapilashrami join on 1 July to replace outgoing board members Matt Brittin and Jean Tomlin
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NewsMedia Bites 12 May: Furlough scheme, Petrol prices, UK spending
Furloughed workers could be allowed back part time under new measures to be announced by the chancellor, petrol prices drop to four-year low and Britons splash on food and alcohol during lockdown
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NewsCity snapshot: Morrisons retail sales surge under coronavirus lockdown
Morrisons has reported a 5.7% jump in first quarter like for like sales, excluding fuel, as its grocery sales surged under the coronavirus lockdown conditions.
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NewsRetail rents likely to factor in turnover after crisis, say landlords
Four out of five landlords said the pandemic would change the terms on which retail property was occupied
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NewsCapVest adds Irish pork producer M&M Walshe to Karro and Young’s
Private equity investor CapVest has acquired Irish pork producer M&M Walshe for its Eight Fifty Food Group vehicle, which already houses Karro and Young’s Seafood.
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NewsCoronavirus: SMEs fear end to furlough scheme will lead to redundancies
Emma Loisel, co-founder and chair at Volcano Coffee Works, wrote an open letter to Chancellor Rishi Sunak this week urging a change in the rules of the furlough scheme
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NewsRetailers and landlords warn of business collapse without rent support
The British Retail Consortium and British Property Federation have renewed their appeal for the government to pay some of the rent due in lockdown
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NewsCity snapshot: Retail footfall suffers sharpest drop ever as shops shut
Last months figures showed the number of visits to shops plunged 80%, almost double the 41.3% reduction experienced in March