Finance news – Page 420
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NewsCity snapshot: Tesco sets five year inflation high as annual grocery prices rise 2%
Supermarket price inflation edged up to 2% in the first month of the new year according to the latest Grocer Price Index – but there is wide disparity across the big four, with Tesco price rises swelling the overall figure. Plus another grim day for international stock markets takes its toll on grocery shares and all the rest of the latest news from the City.
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NewsMedia Bites 9 Feb: 2 Sisters, L’Oréal, Compass Group
Job cuts loom at scandal-hit chicken supplier 2 Sisters.
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News2 Sisters to cut 900 jobs
The poultry giant is planning to close three loss-making factories in wake of last autumn’s chicken scandal
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NewsTesco continues to prop up overall inflation in grocery
Tesco recorded its highest level of price inflation for over five years last month
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NewsWell & Truly seals £400k funding to aid growth
Healthy snacking startup Well & Truly has bagged £400k in capital from female-focused funding network AllBright
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NewsWeetabix sales slip under new owner
Weetabix sales fell 1.2% in the final three months of 2017, according to quarterly earnings reported by Post Holdings
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NewsJust Eat rival Appetise woos crowd for £500k
Online takeaway service Appetise has turned to the crowd to raise £500,000 for a battle against Just Eat
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NewsOpitat surpasses £150,000 crowdfunding target
The London brand kicked off a Crowdcube drive on 30 January with the aim of raising £150,000 in exchange for 6.98% of equity
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NewsMedia Bites 8 February: Carlsberg, Poundland, Tesco
It is a quiet morning in the papers in terms of grocery and fmcg news, with Carlsberg in the spotlight following its annual results and Poundland gaining publicity after its Christmas advert was banned by the ASA.
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NewsArla swoops for Yeo Valley dairy business to tap organic boom
Farmer-owned Arla Foods has agreed to acquire the Yeo Valley dairy business as it seeks to cash in on growing consumer demand for organic produce.
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NewsBrexit 'could see Brits face post war-style diets' Lords told
Lords committee warned by FDF that the British had not voted to go back to the “dark times” of rationing in the 1950s
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NewsSales of organic food & drink hit record highs
Spend was up 6% to £2.2bnn. but supermarkets are missing out with £1 in every £7 spent on organic went to independent retailers
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NewsMedia Bites 7 February: Ocado, Tesco, inflation
Ocado was firmly in focus today after it slipped back into the red, warned of a squeeze on futures profits and revealed plans for a £150m share placing, while the abandoned Tesco trial also merited plenty of column inches. Tesco is also facing the largest ever equal pay challenge in UK history.
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NewsRussian woes hit Carlsberg profits in 2017
Full-year profits at Carlsberg took a hit as sales and volumes were held back by a change in the law in Russia restricting the size of plastic beer bottles.
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NewsChilled petfood a hit in Tesco as Freshpet sales pass £1.7m
A recipe for small dogs has been added in response to the rising popularity of diminutive breeds such as dachshund
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NewsBrexit-related labour crisis inquiry re-opened
Efra Committee will assess whether labour shortages in food production has ‘improved or deteriorated’ during the past year
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NewsFree’ist snack brand targets UK with £250k investment
Despite being based in Northern Ireland, the majority of Free’ist’s distribution is in the Republic
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NewsTesco fraud trial discontinued pending re-trial
The jury has been discharged following the heart attack of one of the former executives
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NewsGovernment shelves 25-year food and farming plan
Defra cited Brexit-based priorities for kicking the plan into the long grass, adding some of its objectives would be included in the upcoming Agriculture Bill, due in the spring
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NewsHalewood buys Cornish rum brand Dead Man's Fingers
The blend of Caribbean rums has an “exceptionally smooth taste” according to the brand’s founder Neythen Hayes…