Finance news – Page 421
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NewsCity snapshot: Ocado slips back into the red as cost of technology weighs on earnings
Ocado has reported a £0.5m 52-week loss despite double digit revenue growth as the cost of funding expansion and new technology hit the bottom line. Inflation drives strong grocery sales according to latest market share figures and global market slump hammers UK shares.
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NewsMedia Bites 6 Feb: Charles Wilson, Euro Garages, Waitrose
Cash and carry king lined up for Tesco top job, writes The Daily Mail after Charles Wilson was named Tesco’s UK & Ireland chief.
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NewsEuro Garages reveals US ambition with $2.2bn acquisition of Kroger convenience store network
Petrol forecourt operator Euro Garages has snapped up the 800 strong convenience store network of retail giant Kroger for $2.2bn to gain access to the world’s largest fuel convenience market for the first time.
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NewsMedia Bites 5 Feb: Sainsbury's/EuroGarages, Steinhoff, Keurig/Dr Pepper
Sainsbury’s is severing its ties with petrol station operator EuroGarages, culling a trial of stores on forecourts, according to The Sunday Telegraph.
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NewsCity snapshot: Charles Wilson to replace Matt Davies as Tesco’s UK & ROI CEO
Tesco has announced that upon completion of the merger with Booker, the wholesaler’s boss Charles Wilson will be appointed as CEO of its retail and wholesale operations in the UK and Republic of Ireland.
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NewsPoppy's Picnic turns down Dragon and kicks off crowdfunder
Raw petfood brand Poppy’s Picnic has shunned an offer secured on the BBC’s Dragons’ Den to raise over £350k in crowdfunding.
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NewsRaisio mulls feed business sale and focus on healthy eating
The group announced this week it was considering a sale of its cattle and fish feed businesses
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NewsTime runs out for sale of Connect Group book division
Terms of the deal required completion by 31 January at the latest
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NewsCo-op's £50m price cuts close gap on convenience rivals
The Co-op’s £50m price investment has succeeded in making it much more competitive with its main convenience rivals
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NewsCity snapshot: Food and drink M&A deal values soar in 2017
A busy food and drink M&A market in the first weeks of 2018 has continued the momentum of 2017, which saw a strong rise in deal values, according to the latest quarterly M&A report by Grant Thornton. Plus, Weetabix sales fall 1.2% in the first quarter of new US owner Post Holdings and all the rest of the latest news from the City
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NewsMedia Bites 2 Feb: Unilever, Sainsbury's, Morrisons
A busy day for food and drink sees the papers packed with stories on Unilever, Morrisons, Sainsbury’s and more this morning.
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NewsFood & drink M&A already building on value spikes of 2017
A flurry of sizeable food and drink deals in the first weeks of 2018 is building on the momentum of last year, which saw a sharp spike in values driven by mega-deals involving FTSE 100 giants Tesco, Reckitt Benckiser and Unilever.
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NewsOptiat’s £150k Crowdcube drive passes halfway mark in two days
The personal care startup plans to spend funds on larger production runs, R&D, and marketing and advertising
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NewsFSA interviews suspects under caution as Russell Hume scandal escalates
Russell Hume meat labelling scandal ‘on new scale’ says FSA, as key personnel at the supplier expected to be interviewed in coming days
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NewsFarming bodies welcome PM 'progress' on beef access to China
The agreement presented a significant opportunity for British farmers, said an AHDB spokesman…
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NewsCJ Lang & Son sees turnover fall with cigarette sales
National living wage increases forced the Spar wholesaler to make cost reductions throughout the business
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NewsMedia Bites 1 February: M&S, Coca-Cola, Britvic, Dairy Crest, Mondelez
Further restructuring at Marks & Spencer as the high street bellwether continues to attempt to turnaround the business is under the media spotlight today.
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NewsUnilever navigates 'challenging' conditions to boost top and bottom lines
Consumer goods giant Unilever has increased full-year sales and profits despite operating in “challenging” market conditions in 2017.
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NewsCoca-Cola to shed jobs as it announces two UK site closures
CCEP said it would shut its manufacturing site in Milton Keynes and its Northampton DC