Finance news – Page 330
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NewsJempson’s hails boosted c-store trade and premium range for solid growth
The group grew overall gross sales by 4% to £32.9m compared with 2018
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NewsWalmart in talks with potential Asda buyers
Walmart has admitted it is in talks with potential buyers for Asda, despite an IPO for the UK supermarket chain remaining an “attractive” option.
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NewsCity snapshot: Walmart/Asda, Diageo, SSP Group
Walmart is in talks with private equity firms about selling a majority stake in Asda, a year after the collapse of its deal to merge the supermarkets chain with Sainsbury’s.
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NewsNorth South Wines receives investment from German winery Reh Kendermann
Following the transaction, North South Wines will manage Reh’s UK business in the wholesale, convenience, discount, independent and on-trade channels
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NewsPukka Pies sales rise after ramped-up marketing activity
Several advertising and marketing campaigns run during the year have bared fruit, boosting the pie manufacturer’s sales almost 7%
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NewsCo-op CEO Steve Murrells to call for retail sector co-operation on climate crisis
Murrells will give a speech at the Westminster Business Forum in London focusing on the environment, strengthening communities and post-Brexit trade negotiations
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NewsMcColl’s planning to shut hundreds of stores
McColl’s also confirmed it had closed 120 stores during the period and opened 10
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NewsDanone acquires majority stake in Harrogate Water
The transaction will see Harrogate join water brands Evian and Volvic under Danone’s portfolio
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NewsCity snapshot: Danone cuts 2020 guidance on ‘volatile and uncertain’ outlook
French dairy giant Danone has cut its growth targets for 2020 amid ‘volatile and uncertain’ global economic conditions and the potential impact of the coronavirus outbreak. Plus, Diageo and SSP Group warn of financial hits from COVID-19 outbreak, annual results from McColl’s and Nichols and all the rest of the latest news from the City.
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NewsMedia Bites 26 Feb: Tesco, UK Farming, Amazon
More than 1,800 jobs are set to go in Tesco’s bakeries after a slump in sales of traditional loaves of bread as customers turn to bagels and flatbreads
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NewsManiLife raises over £250k to fund NPD and new listings
The peanut butter brand has smashed its crowdfunding target in two days
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NewsTesco to restructure in-store bakeries putting 1,800 jobs at risk
Tesco bosses claimed they were responding to customer trends which had seen a big shift in customer tastes and preferences
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NewsHigh street failures blamed for soaring government redundancy payouts
The Insolvency Service last year paid out £346m to workers made redundant by the collapse of a company
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NewsCity snapshot: Hotel Chocolat boosted by store openings and global growth
Hotel Chocolat has posted a double-digit rise in first half sales and 7% pre-tax profit growth driven by the opening of new stores, international expansion and growing sales of its Velvetiser hot chocolate system. Plus, Tesco sells its share of China joint venture and all the rest of the latest news from the City.
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NewsMedia Bites 25 Feb: US trade deal, ABF/Primark, Tesco
Farmers have hit back at suggestions the government will allow imports of chlorinated chicken and other low-standard farm produce in trade talks with the US.
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NewsSharon White hints at JLP restructure ‘adjustments’ in store magazine interview
White said “some adjustments” to the radical Future Partnership plan would be likely
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NewsBig 30 wholesalers shrug off challenges to record strong growth
The leading UK wholesalers have continued to perform strongly despite facing an ever increasingly list of challenges
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NewsTony’s Chocolonely aims to speed up slavery-free mission after €36m investment
The funding comes from Verlinvest and JamJar, which together have taken a minority share of 28% in Tony’s
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NewsVegan tea lattes brand MyTea is Mighty to kick off fundraise
The London-based startup will use the cash raised to switch to contract manufacturing and scale up operations
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NewsCity snapshot: ABF ‘well-stocked’ for Coronavirus outbreak
Associated British Foods has said it is closely monitoring the Coronavirus outbreak in China, though it does not expect any short-term impact.