Finance news – Page 682
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NewsAsda COO Mark Ibbotson moves to Walmart
Mark Ibbotson to take up role as senior VP at Walmart US, Asda responsibilities will be split until replacement is found
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NewsSmucker’s to cater for cats and dogs with $5.8bn Big Heart deal
US food group JM Smucker has entered the pet food and snacks category with the $5.8bn acquisition of Big Heart Pet Brands.
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NewsConviviality buys GT News' 37 stores, will convert most to Bargain Booze
Conviviality Retail says acquisition is in line with plans for “geographical expansion”
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NewsPrivate equity firm CD&R sells a further 12% stake in B&M
B&M Bargains could be heading for the FTSE 100 after former private equity owner Clayton Dubilier & Rice floated another 120 million shares in the value retailer.
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NewsMedia Bites 4 February: Ocado, Tesco, Co-op
Ocado’s first annual profit gets significant coverage across the papers this morning.
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NewsCity snapshot: Conviviality Retail buys GT News
Conviviality Retail is back on the acquisition trail after announcing the purchase of East Midlands and Yorkshire convenience chain GT News. Plus, food price deflation, B&M share placement and the latest market news from the City.
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NewsFood deflation hits highest level yet, finds BRC-Nielsen Shop Price Index
Food prices fell by the highest rate ever recorded by the BRC-Nielsen Shop Price Index in January as the New Year price war took hold.
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NewsCargill swoops for Zambeef oil subsidiary for $25.7m
US multinational Cargill has agreed to acquire the edible oil and soybean meal subsidiary of listed agribusiness Zambeef for $25.7m.
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NewsOcado reports its first annual profit in 15 years of trading
Online grocer Ocado has, as expected, posted its first annual profit since it started operating 15 years ago as revenue jumped by almost 20% compared with 2013.
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NewsCity snapshot: Ocado defies the critics with first annual profit
Ocado (OCDO) has finally shaken the “never made a profit” monkey off its back after 15 years of trading this morning.
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NewsIrn-Bru owner AG Barr to shake up cocktail market with £21m takeover of Funkin
AG Barr is entering the cocktail mixer market with the acquisition of Funkin Cocktails in a deal worth up to £21m.
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NewsJohn Lewis cuts final salary pension benefits
The John Lewis Partnership has announced a host of changes to its pension scheme as it looks to claw back an £840m pension deficit.
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NewsInterbev UK raises a glass to Lloyds funding deal
Drinks wholesaler Interbev UK has secured a £9m bank funding package to support its growth.
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NewsMedia Bites 2 February: Tesco, GCA, John Lewis
All the papers had John Allan closing in on the Tesco chairman role over the weekend after the withdrawal of Ian Cheshire from the process.
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NewsCity snapshot: Tesco closes in on new chairman
Tesco looks to be closing in on a new chairman after its two person shortlist for the role was reportedly cut to one over the weekend.
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NewsSeabrook Crisps up for sale as it explores all strategic options
Seabrook Crisps has hired corporate finance advisors McQueen to “explore all strategic options”.
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NewsPoultry packager looks to future strong growth after rescue deal
A fresh poultry supplier to the likes of Asda has been sold out of administration saving the jobs of the 22-strong workforce.
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NewsStrong Christmas for Cranswick but pig price deflation hits revenue
Deflation in pig prices has continued to act as a drag on Cranswick revenues in its third quarter but failed to make a dent in the group’s profits.
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NewsDiageo sees improving sales trends despite first half revenue dip
Diageo CEO Ivan Menezes hailed an improved first half performance despite posting lower than expected sales this morning after a slowdown in Latin America and Asia.
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NewsMolson Coors sells its UK maltings business to Soufflet Group
Brewer Molson Coors UK has agreed to sell its maltings business to French agriculture group Soufflet.