Finance news – Page 77
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NewsDeliveroo shares fall as Delivery Hero plans to sell off stake
Delivery Hero is selling its stake in rival food delivery group Deliveroo for more than £70m
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NewsCity snapshot: Fall in grocery inflation eases and retailers cut promotions
The fall in grocery price inflation eased last month as retailers ‘took their foot off promotions’, while sales growth lagged price increases. Plus updates from Diageo, SSP Group and Pets at Home
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NewsMedia Bites 30 January: Brexit, vaping, Delivery Hero
New Brexit border rules could cut the shelf life of fresh food from mainland Europe by a fifth and leave some deliveries from the EU unsaleable, major food bodies have warned
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NewsWaitrose confirms JLP plans to reduce staff numbers
The John Lewis Partnership is aiming to save £900m by 2028
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NewsCompleat Food Group appoints Tom Riley CFO
Riley has joined the business from his previous role as CFO for Fox’s Burton’s Companies
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NewsMedia Bites 29 January: John Lewis Partnership, Brexit border controls, disposable vapes
The John Lewis Partnership has raised £260 million to help fund its turnaround as the struggling mutual prepares to cut as many as 11,000 jobs
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NewsCity snapshot: EY resigns as Asda auditor
Big four accountancy firm EY has resigned as auditor to Asda in the latest blow to the Issa brothers, according to reports
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NewsABF shares rise on back of strong growth in food and sugar
Shares of food and retail conglomerate Associated British Foods rose this week on the back of solid growth in its food and sugar arms
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NewsThe Coconut Collab closes £1.5m funding round
The brand will use the funds to accelerate growth, primarily focusing on the UK and Europe, and establish a more mainstream presence
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NewsCity snapshot: Travel recovery boosts WH Smith
WH Smith grew revenues in the second half of last year as the global travel market continues to recover and it expands its number of airport outlets
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NewsMedia Bites 26 January: Fever-Tree, Haleon, consumer confidence
Sales of Fever-Tree’s tonics and mixers in the United States have overtaken those in Britain as the London-listed soft drinks group pursues its growth ambitions overseas
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NewsNorth Brewing Co acquired by founder of Kirkstall Brewery
Existing management at North – including founders Christian Townsley and John Gyngell – will continue to run the new company
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NewsInfinite Roots closes £46m round to build a ‘more sustainable and healthy food system’
Biotech firm Infinite Roots has closed a $58m (£45.5m) series B funding round as the business looks commercialise its technology and kickstart product launches worldwide
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NewsCity snapshot: US growth boosts Fever-Tree despite UK sales stagnation
Fever-Tree has posted annual growth of 6% despite a stagnation of UK sales as it doubled profits in the second half of 2023
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NewsMedia Bites 25 January: AI, Thatchers/Aldi, Wetherspoons
AI technology that guesses the age of shoppers wanting to buy alcohol is to be rolled out in supermarkets under government plans
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NewsTwo Tribes plots international expansion following fundraising
Founded in 2017 by DJ and music producer Justin Deighton, the brand is stocked by the likes of Waitrose, Sainsbury’s and Ocado, as well as by Eurostar and Virgin Atlantic, and premium on-trade sites in London
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NewsFull Power Cacao scores Dragons’ Den investment from Gary Neville, Steven Bartlett and Peter Jones
Ceremonial-grade cacao company Full Power Cacao has scored a three-way investment following an appearance on the BBC’s Dragons’ Den
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News‘No third-party interest’ in insolvent East London Liquor Co prior to pre-pack sale
The business had explored other avenues before being sold to existing management
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NewsMedia Bites 24 January: Premier Foods, ABF, P&G
Premier Foods said selected discounting helped drive strong Christmas sales growth and there are plans for more price cuts ahead
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NewsCity snapshot: East Imperial Superior Beverages raises funds to take on growth markets
Premium tonic maker East Imperial has raised £325k to boost working capital and help realise growth opportunities in the US and Asia Pacific markets