Finance news – Page 434
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NewsCity snapshot: Costa Q1 like-for-likes slide ahead of demerger
Whitbread owned Costa Coffee grew its first quarter sales by 5.2% ahead of its planned demerger, but like-for-like sales fell 2% reflecting the slump on UK high streets. Plus, butchery group Crawshaw suffers 12.9% like-for-like collapse in 20 weeks to 17 June and all the rest of the latest news from the City.
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NewsMedia Bites 27 June: Booker/CO2, Grocery market share, Apprenticeship levy
Booker, the UK’s biggest wholesaler has begun rationing beer, cider and soft drinks as rising demand amid the heatwave and England’s World Cup campaign comes up against a shortage of food-grade carbon dioxide gas.
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NewsSmoothie kit manufacturer Pack'd seeks £500k in crowdfunding push
Nurtition-focused frozen smoothie kit start up has reached out to the crowd for investment to drive the launch of ten new SKUs
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NewsCO2 shortage halts production at Tulip's Brechin plant
Ther pork giant said it would stop slaughtering at the site this afternoon
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NewsWarm weather and World Cup help grow supermarket sales by 2.1%
Warm weather and the start of the World Cup have helped overall supermarket sales rise 2.1% in the 12 weeks to 17 June, marking 25 consecutive periods of industry growth, according to Kantar Worldpanel.
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NewsMedia Bites 26 June: Grocery Code Adjudicator, Tesco, Morrisons
Britain’s supermarkets are treating their suppliers better, according to the UK’s Grocery Code Adjudicator
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NewsPoundworld founder Chris Edwards looking to buy 186 stores
A decision is due to be announced by administrators Deloitte on whether a buyer has been secured or all 335 stores face closure
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NewsEU pushes ahead with tariffs on US food and drink exports
American bourbon, tobacco, sweetcorn, orange juice and peanut butter are among the food and drink products hit by the 25% tax
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NewsCity snapshot: 2 Sisters hit by protein price inflation
UK chicken giant 2 Sisters was buoyed by the £200m sale of Goodfellas to Nomad Foods in its third quarter, but underlying profitability collapsed on a £5.8m protein division loss. Plus, Oasis Management steps up campaign against Premier Foods CEO Gavin Darby and all the rest of the latest news from the City.
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NewsMedia Bites 25 June: Premier Foods, Poundworld, Tesco
The second-biggest shareholder in Mr Kipling-maker Premier Foods has called for the removal of chief executive Gavin Darby as part of its campaign against the leadership of the highly indebted company.
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NewsOrganic children's food brand Miniscoff in liquidation and seeking buyer
The Wiltshire-based company cited the loss of a major contract for its decision to cease trading 25 May
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News'Microsoft of retail' Ocado has a mixed week
Even by Ocado’s standards, it had a mixed week after a FTSE debut to forget on Monday was followed by a share price surge on being dubbed the “Microsoft of retail” by Wednesday.
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NewsDart Valley Foods falls into administration
Hampshire-based condiments supplier Dart Valley Foods has fallen into administration.
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NewsLosses deepen as profit margins drop at Daniels Chilled Foods
Newly filed accounts show the Hain Daniels subsidiary recorded an almost £18m decline in turnover
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NewsFroneri returns to profit in first year since R&R/Nestlé merger
Froneri said it had “performed strongly” in the year to 31 December 2017
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NewsCity snapshot: Kroger soars on first quarter earnings jump
Shares in US supermarket group Kroger jumped 9.6% yesterday after it announced first quarter earnings comfortably above analyst expectations. Plus all the rest of the latest news from the City.
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NewsMedia Bites 22 June: CO2, Heineken/Beavertown, Premier Foods
Food and drink producers on Thursday warned that a carbon dioxide shortage threatens to halt production and disrupt supply chains across Britain, prompting the UK government to say it was “working to find a solution” to the problem, writes The FT.
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NewsPremier Foods rallies support as activist investor calls for Gavin Darby's departure
Activist investor Oasis Management “intends to vote against” the re-election of Premier Foods CEO Gavin Darby at the company’s AGM next month.
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NewsCO2 crisis: Government urged to step in to prevent shortages
The FDF says there is a worrying lack of clarity over how long shortages will last and what will be done to resolve them
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NewsBeer, fizzy drinks, chicken and meat hit by CO2 shortages
Supplies are running dangerously low right in the middle of World Cup fever and the crucial summer barbecue season