Finance news – Page 690
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NewsFCA launches probe into Tesco's £250m black hole
Financial Conduct Authority has launched a “full investigation” into the circumstances behind the £250m black hole in Tesco’s accounts.
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NewsTacon asks Tesco to look for breaches of Groceries Code
Groceries Code Adjudicator Christine Tacon has asked Tesco to examine its behaviour towards suppliers during the company’s internal review into the £250m overstatement of its profits.
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NewsWhittard profits climb as it chases global presence
Tea and coffee specialist Whittard of Chelsea saw annual profit rise by 43% last year as it extended its London retail footprint.
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NewsBanana merger sweetened for Chiquita shareholders
Chiquita and Fyffes have agreed to revise the terms of their merger to give Chiquita shareholders a larger proportion of the merged company.
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NewsBirds Eye owner Iglo Group records revenue dip
Iglo Group, the European owner of Birds Eye, saw a 0.9% slide in constant currency sales during the second quarter due to “tough market conditions”.
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NewsTesco admits McIlwee not in charge of finance for five months
Tesco faced yet more questions over its financial management today after it admitted it had effectively been without a director in charge of finance for the past five months.
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NewsUK regulator drops Napier Brown’s British Sugar pricing complaint
The UK’s Competition and Markets Authority will not take forward Napier Brown’s complaint against British Sugar that the Associated British Foods-owned company was abusing its dominant market position.
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NewsTesco's new CFO Alan Stewart joins crisis-hit retailer a month early
Tesco’s new chief financial officer Alan Stewart has been parachuted in more than a month ahead of schedule in the wake of yesterday’s shock announcement of a £250m overstatement of profits.
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NewsTesco chairman Sir Richard Broadbent under fire over accounting mess
The position of Tesco chairman Sir Richard Broadbent is coming under fierce scrutiny after the latest events to hit the retailer rocked the City.
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NewsTesco shock profit warning: the City reacts
Tesco shocked the City today by announcing it had discovered it had overstated its profits by £250m. Here’s our round-up of how leading City and industry analysts reacted to the news.
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NewsTesco admits a £250m overstatement of profits
Tesco has stunned the city this morning by admitting that it may have overstated its profits for the half year by as much as £250m.
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NewsRobin Terrell to lead Tesco UK as investigation into £250m profit hole kicks off
Tesco head of online operations Robin Terrell is to lead the retailer’s UK business as it kicks off an urgent investigation into how its half-year profit guidance ended up being overstated by £250m.
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NewsFinlay Beverages still in the red but upbeat about 2014 progress
Finlay Beverages remained in the red last year as it continued to recover from a key contract loss three years ago…
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NewsGavin Darby hails departing Premier Foods director Ian Deste
Premier Foods chief executive Gavin Darby has paid tribute to commercial director Ian Deste ahead of his exit
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NewsConviviality Retail chief exec Diana Hunter sells £1.36m of shares
Chief executive of Bargain Booze-owner Conviviality Retail Diana Hunter sold £1.36m worth of shares in the company yesterday.
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NewsShareholder group targets Diageo executive pay
Diageo heads into another AGM today with its executive pay policies under fire.
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NewsPremier Foods splits into three divisions amid management changes
Premier Foods has announced a major restructure of its business that will see the company split into three distinct business units and a number of management changes.
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NewsHovis sales back on uphill trend after split from Premier
Hovis – which lost £56m in retail sales last year – has returned to growth…
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NewsMorrisons honours dividend pledge despite plummeting profits
Morrisons’ underlying profits before tax plunged 51% to £181m in the six months to 3 August…
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NewsSMEs outperform fmcg giants in UK 150 report
Small and medium-sized UK food and drink suppliers are outmanoeuvring their multinational competitors,…