Finance news – Page 123
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NewsOMGTea sells majority stake to Japan’s Aiya to bring matcha to the masses
Matcha green tea brand OMGTea has been snapped up by Japan’s Aiya to help the business build a bigger presence in the UK
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NewsSainsbury’s to double down on food, availability and loyalty in new three-year plan
The new strategy builds on Sainsbury’s Food First Strategy, which it has pursued over the past three years
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NewsMedia Bites 7 February: Grocery market share, retail sales, Pret a Manger
Marks & Spencer is poised to overtake Waitrose as it wins over growing numbers of middle class shoppers
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NewsCity snapshot: Sainsbury’s targets £1bn in savings as it launches ‘Next Level Sainsbury’s’ strategy
Sainsbury’s is targeting £1bn in cost savings over the next three years as part of its new strategy launch this morning. Plus, PZ Cussons issues a profits warning and Just Eat Takeaway appoints new CFO.
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NewsHeura raises £34m in series B round to fund ‘new chapter’ in plant-based foods
European plant-based brand Heura has closed its long-running series B funding round, raising €40m (£34.2m) in total as it seeks to turn rapid growth into profitability
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NewsHisbe founders ‘hurting and exhausted’ as ethical grocer enters liquidation
The liquidation would leave ‘many’ suppliers with unpaid invoices, Hisbe said
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NewsEasing inflation helps supermarket volumes in January
Food sales at the supermarkets have grown faster than inflation in January as shopper behaviour normalises amid reducing cost pressures, according to new data published this morning
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NewsCity snapshot: Retail sales growth slows as cost of living weighs on consumers
UK retail sales growth slowed in January despite easing inflation as continued weak consumer demand led to ‘lacklustre’ sector performance
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NewsMedia Bites 6 February: McDonald’s, junk food, Asda
The business sections focus on McDonald’s reporting its first quarterly sales miss in nearly four years
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NewsCompleat Food Group acquires SK Foods and Zorba Foods
The two businesses specialise in private-label chilled party foods, dips and deli fillings, and have a combined turnover of more than £160m, with in excess of 1,150 employees
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NewsKraft Heinz plans green hydrogen plant for Wigan factory
The £40m scheme is forecasted to enter operation in 2026
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NewsMedia Bites 5 February: Issa brothers/Asda, Morrisons, Diageo
One of the billionaire Issa brothers is reportedly attempting to offload his stake in the debt-laden supermarket Asda
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NewsCity snapshot: Naked Wines appoints Rodrigo Maza as CEO designate
Naked Wines has promoted its new UK managing director to group CEO to work alongside executive chairman Rowan Gormley as the DTC wine retailer attempts to turn around its fortunes
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NewsCity News: Diageo’s woes continue as Latin America sales plunge
Diageo’s woes across the Atlantic continued this week, as second-half results were hit by a plunge in sales in Latin America and a continued slowdown in North America
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NewsAccolade Wines taken over by Bain-led consortium
The deal brings an end to five years of ownership by US-based investment group Carlyle
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NewsCity snapshot: Retail footfall slides again in January
Total UK footfall decreased by 2.8% in January, according to the latest data from the BRC-Sensormatic IQ Footfall Monitor
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NewsMedia Bites 2 February: Amazon, Brexit, AG Barr
The world’s largest retailer comfortably beat fourth-quarter sales forecasts last night, attracting robust growth in online spending by consumers during the holiday season
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NewsBakkavor Group to recruit record intake of 86 apprentices in 2024
The roles span a wide range of specialist areas, including food technology, health & safety and business administration
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NewsNirvana launches £600k crowd campaign amid low & no demand
Low & no brewer Nirvana is rolling out a crowdfunding campaign as it looks to capitalise on the growing demand in the sector following a successful Dry January
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NewsPlanet A closes £12m fundraising to bring cocoa-free chocolate to the UK
Food tech startup Planet A Foods has secured $15.4m (£12.2m) to power the expansion of its sustainable cocoa-free chocolate into the UK and other international markets