Finance news – Page 644
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NewsTesco sells Homeplus to investors for £4.2bn
The sale marks another step in the scaling down of the global empire built by Sir Terry Leahy and Philip Clarke
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NewsCity snapshot: Tesco agrees to sell Homeplus
Tesco has agreed to sell its South Korean retail arm Homeplus to a consortium led by MBK Partners for £4.24bn, plus Associated British Foods warns over sugar and currency impact and all the rest of the news from the City.
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NewsMedia Bites 7 Sep: Quorn, Tesco/Homeplus, Morrisons
Quorn is at the centre of a £500m takeover battle between frozen food giants Nomad and McCain, according to weekend reports.
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NewsExport figures dragged down by plunging value of euro
The UK food & drink industry has been hit by a slump in exports in the first half of 2015…
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NewsAbsolut drives spirited Pernod Ricard performance in UK
Absolut vodka - the brand responsible for a €404m write-down in Pernod Ricard’s annual results - has driven a strong performance by the business in the UK.
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NewsThe Co-op Group rules out any move into online grocery sales
The Co-operative Group has ruled out launching an online grocery business
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NewsCity snapshot: August high street sales suffer worst slump for seven years
High street sales in August have suffered their biggest slump since the depth of the financial crisis in 2008.
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NewsMedia Bites 4 Sep: The Co-op, Tesco, Morrisons
The major grocery story in the media this morning is The Co-op’s return to half year profitability announced yesterday.
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NewsMcColl's points to premium store "outperformance" despite sales dip
McColl’s strategy of concentrating on premium convenience stores has been vindicated, according to chief executive James Lancaster, despite a 2.3% fall in third quarter like-for-like sales.
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NewsCMA approves Booker’s acquisition of Londis and Budgens
Booker has received regulatory clearance from the UK’s Competition & Markets Authority for its acquisition of Musgrave Retail Partners GB, which runs the Londis and Budgens chains in Great Britain.
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NewsStrong food performance puts The Co-op back in the black
A “robust” trading performance from the food business has put The Co-operative Group back in the black, the business announced this morning
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NewsMedia Bites 3 Sep: MBK Partners to buy Tesco's South Korean arm
Tesco has named a consortium led by South Korean buyout group MBK Partners as the preferred bidder for its business in the country, according to reports.
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NewsCity snapshot: Booker gets green light for Londis and Budgens takeover
The Competition & Markets Authority has cleared Booker Group’s acquisition of Londis and Budgens as Booker’s 10-week like-for-like non-tobacco sales rise 0.5%.
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NewsTesco pays more for milk going into its own-label cheese
The retailer will pay suppliers 29.93 pence per litre until 28 February 2016
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NewsCity snapshot: Lenta issues bond to fund store expansion plans
UK-listed Russian supermarket chain Lenta is seeking to raise RUB5bn (£49m) via the bond markets to fund new store openings, Morrisons teeters on the edge of FTSE 100 demotion and the City is hit by more Chinese economic woes.
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NewsMedia Bites 2 Sep: Poundland, UK manufacturing, contactless payments
On a quiet day for grocery news, the major story is yesterday’s announcement by Poundland that it is launching an online service.
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NewsContactless payments tipped to soar as new £30 limit comes in
The average supermarket shop of £25.17 now falls below the contactless payment limit
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NewsArla’s first half revenues drop 3.8% as milk prices plunge
Arla Foods saw overall revenues drop 3.8% in the first six months of the year as declining global milk prices hit the dairy industry.
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NewsPoundland launches online trial
Poundland has announced the launch of an online retail offer in the UK.
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NewsApetito moves to Living Wage for its staff
The frozen food supplier said it would also seek accreditation as a Living Wage employer in future.