Finance news – Page 658
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NewsNutrition supplement business Melrob Grove rescued from administration
Tring-based nutrition supplement business Melrob Grove has been rescued from administration saving 11 jobs
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NewsMedia bites 25 June: Ahold/Delhaize, Sainsbury's, Morrisons
The €25bn tie-up between Ahold and Delhaize will see the European grocers unite for an “assault” on Walmart.
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NewsFirst Milk chairman to step down as farmgate prices fall again
From 1 July, the processor will be paying ‘A’ prices at or below 20ppl, while farmers on the Isle of Bute pool will be paid even less, at 18.30ppl
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NewsMedia bites 24 June: Co-op, John Lewis, Tesco
The financial woes of The Co-operative Group have wounded it so seriously that it can no longer boast of being Britain’s biggest-grossing co-op
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NewsCity snapshot: Ahold and Delhaize press on with merger
European retail giants Ahold and Delhaize have announced their intention to press ahead with a full-scale merger of equals this morning.
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NewsYoung's Seafood site in turmoil after losing Sainsbury's contract
Sainsbury’s has given a salmon processing contract to Norwegian seafood giant Marine Harvest, placing hundreds of jobs at risk
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NewsNew GSCOP probe threatened after BBG survey reveals agreement breaches
Move from back margin to front margin is causing ructions in supplier-retailer relationships
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News2 Sisters back in third quarter profit
2 Sisters owner Boparan recorded a third quarter profit after heavy losses last year after like-for-like sales edged up by 1.1%.
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City Snapshot: More work to do at 2 Sisters despite 'encouraging performance'
2 Sisters Food Group has increased like-for-like sales in its third quarter by 1.1% to £798.7m as the frozen division performed strongly
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NewsMedia Bites 23 June: Thorntons, Tesco, GCA
Ferrero’s £112m takeover bid of Thorntons dominates the papers this morning but news of Tesco topping a supplier survey as the worst of Britain’s leading supermarket chains at complying with industry guidelines also gets a look in.
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NewsThorntons shares soar on Ferrero takeover offer
Shares in UK-listed chocolatier Thorntons have rocketed up 43% after news broke this morning that Italian chocolate manufacturer Ferrero has agreed to pay 145p a share to buy UK-listed chocolatier Thorntons, valuing the company at £112m.
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NewsMoy Park IPO plans scrapped in favour of $1.5bn JBS sale
Brazilian food group Marfrig has decided against plans to float Northern Irish poultry producer Moy Park on the London Stock Exchange, preferring instead a sale to South American meat producer JBS.
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NewsCity Snapshot: Thorntons and Moy Park acquired as UK M&A activity heats up
Troubled chocolatier Thorntons is to be acquired in a deal worth £112m by Ferrero and chicken processor Moy Park has been sold by Brazilian parent Marfrig for $1.5bn
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NewsMedia Bites 22 June: Tesco, M&S, Illy
The papers look at what Tesco CEO Dave Lewis can expect at this Friday’s AGM as the supermarket giant is expected to reveal a further fall in sales
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NewsFirst Milk admits £22m losses in past financial year
First Milk accumulated pre-tax losses of around £22m during its past financial year, the dairy co-op has confirmed.
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NewsSoft drinks wholesaler JC Sudders ceases trading
Soft drinks wholesaler JC Sudders has ceased trading after going bust, leaving 20 staff without jobs…
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NewsJohnstone's Just Desserts "mis-stated" trading before collapse
The cake supplier issued invoices totalling £1.6m for products that had not been supplied
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NewsCity Snapshot: Fyffes pushes up profits forecasts
Irish fruit company Fyffes has significantly increased its earnings targets for 2015; Irish forecourt operator starts trading on the London and Dublin junior markets; and Waitrose has a demanding week. Plus the latest share price movements.
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NewsMedia Bites 19 June: Dunnhumby, Poundland, BHS
Google is teaming up with private equity firm Permira to make a joint bid for Tesco’s data business Dunnhumby; subdued trading at Poundland spooks the City; and BHS is reviewing the future of its flagship Oxford Street store in London.
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NewsCity News: Majestic Wine shares slide back on weak profits
Some of the gloss was chipped off Majestic Wine’s £70m takeover of Naked Wines in April…