Finance news – Page 677
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NewsMedia Bites 3 March: Morrisons, M&S, coffee
Morrisons new management team looks set to take an axe to the dividend in a bid to free up money to invest in the retailer’s turnaround.
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NewsBritish American Tobacco sparks up auditor search
British American Tobacco is looking for a new auditor after ending its agreement with Big Four firm PwC.
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NewsTesco gamble cost Warren Buffett $444m
Veteran investor Warren Buffett has admitted his “leisurely pace” when it came to selling off shares in Tesco cost his firm Berkshire Hathaway $444m.
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NewsM&S updates Chinese expansion plans
Marks & Spencer updates with Asian growth plans as it reaffirms commitment to entering Beijing
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NewsThorntons profits hit by major supply reductions
Chocolatier Thorntons has reported a 10% fall in first half profits due to an “unanticipated” plunge in sales to two major grocers
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NewsMedia bites 2 March: Unilever, Warren Buffett, Morrisons
Investors call on Unilever should sell its underperforming Flora margarines business and buy more personal care companies
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NewsCity snapshot: Supermarket price war derails Thorntons' strategic plans
Thorntons’ shift from a retail-focussed business to an fmcg supplier is not quite going according to plan after a 10% fall in first half pre-tax profits. Plus, this week’s City diary and all the latest news from the market.
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NewsFyffes to pursue deals in 2015 after earnings hike
Fyffes has grown earnings by 28.1% to €40.1m in 2014 as its sales nudged upward by 0.8% to €1.09bn.
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NewsCold brew coffee makers drink to crowdfunding success
Two UK drinks companies are looking to take advantage of the rapidly growing trend for cold brew coffee after raising more than £260,000 on a crowdfunding website.
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NewsFortnum's new St Pancras store grows ahead of targets
Upmarket retailer reported 42% sales growth year on year for the period of November-February and the store’s best performing category was tea
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NewsMedia bites 27 February: B&Q, David Potts, British American Tobacco
The supermarkets are not the only retailers turning the screw on their supply chain
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NewsCity snapshot: Fyffes plans more M&A activity after Chiquita deal collapse
Irish banana importer Fyffes saw a small increase in full year revenues last year as it faces life as an independent company, plus Waitrose’s latest sales figures, New Britain Palm Oil results and all the latest news from the City.
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NewsIglo Group 'repositions' to deal with fall in frozen sales
Birds Eye owner Iglo Group was hit by declining sales last year as increasingly tough conditions in the frozen sector…
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NewsFlavourly trusts in the crowd after turning down the dragons
Flavourly, a gourmet food and drink subscription company which turned down four investment offers from the BBC’s Dragons’ Den, is aiming to raise £300k via crowdfunding.
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NewsWhole Foods Market’s UK losses halve amid booming sales
The UK arm of US grocery chain Whole Foods Market has cut its annual pre-tax loss by almost half as its sales increased by a quarter last year.
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NewsBestway sees 22% increase in delivered sales, outstripping Londis
Bestway said it had clocked up delivered sales of more than £650m in retail in the past year for the first time
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NewsMedia Bites 26 February: Morrisons, Dave Lewis, Mark Price
David Potts’ appointment as Morrisons’ new CEO dominates the business headlines.
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NewsCity snapshot: AB InBev announces $1bn share buyback and dividend hike
The world’s largest brewer AB InBev (ABI) has announced a $1bn share buyback programme and predicted that its beer volumes will rise in 2015. Plus, British American Tobacco’s sales decline beats expectations, Morrisons shares rise and the all the other latest news from the City.
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NewsSports nutrition drives Glanbia's 6.9% annual revenue boost
Irish sports nutrition and ingredients group Glanbia has reported a fifth consecutive year of double-digit earnings growth.
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NewsTesco has '75% chance' of successful recovery, report claims
The report by Bernstein claims that the UK’s biggest retailer is in the “recovery on track zone”