Finance news – Page 155
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NewsFood inflation slows for second month in a row
Food inflation has slowed for the second consecutive month but the UK’s headline rate remained unchanged, according to new figures this morning. Plus, a trading update and exec appointment from THG ahead of its AGM, and Vimto owner Nichols appoints an interim CFO.
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NewsMeatless Farm set for rescue by vegan fried chicken challenger VFC
Meat-free startup VFC, launched by Veganuary and Veg Capital founder Matthew Glover, is close to securing the rescue of the Meatless Farm brand in the UK
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NewsGrocery price inflation eases to its lowest level since 2022
Like-for-like grocery price inflation has dropped to its lowest level since 2022 and now sits at 16.5%, according to the latest market share data from Kantar
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NewsMedia Bites 20 June: Food inflation, BAT, Coca-Cola HBC
Morrisons and M&S have become the latest supermarkets to cut the price of basics as retailers face pressure to do more to tackle soaring living costs.
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NewsTony’s Chocolonely nets £17m to drive global growth
The ethical confectionery maker has raised €20m (£17m) to accelerate its “mission of ending exploitation in the cocoa industry”
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NewsCoca-Cola HBC expands spirits offering with $220m Finlandia vodka acquisition
Hellenic Coke bottler Coca-Cola HBC has acquired the Finlandia vodka brand from a subsidiary of Brown-Forman, the US owner of Jack Daniel’s, for $220m. Plus, management board changes announced at British American Tobacco.
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NewsMedia Bites 19 June: Tesco, anti-obesity measures, McColl’s
The chief executive of Tesco has said food inflation has probably peaked but that prices are likely to stay high
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NewsOcado gets vote of confidence with ‘much better outlook’
Analysts at BNP Paribas Exane upgraded the online retail pioneer from ‘sell’ to ‘neutral’
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NewsTetley cuts plastic with new cardboard packs
It represents the ‘most significant change’ to the brand’s packaging in 30 years
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NewsCity snapshot: Tesco UK sales up 9% amid ‘encouraging’ signs on inflation
Tesco has grown its UK like-for-like sales by 9% in its first quarter as its CEO points to ‘encouraging early signs that inflation is starting to ease’
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NewsIndian coffee player plots UK retail push after acquisition
India’s largest instant coffee manufacturer is planning a push into the UK retail space after buying a collection of brands from Löfbergs Group
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NewsMedia Bites 16 June: Inflation, Unilever, Iceland
The cost of some family favourite dinners has soared by as much as a quarter over the past year, according to the papers this morning.
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NewsAllplants slashes valuation in pursuit of profitability
DTC plant-based player Allplants has slashed its valuation as part of a £10m fundraising from its existing backers amid increasing pressure on the vegan category
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NewsABP buys two Scotbeef meat plants after supplier loses Aldi contract
Irish red meat giant ABP will complete a deal for Scotbeef’s Bridge of Allan abattoir and Queenslie meat packing plant by the end of July
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NewsCity snapshot: Unilever buys US premium yoghurt brand Yasso
Unilever has announced it has agreed to buy US-based premium frozen Greek yoghurt brand Yasso
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NewsMedia Bites 15 June: Asda, Bestway, UK economy
A quiet morning in the papers but there is coverage of an Asda stores sell-off.
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NewsFoodservice wholesaler RD Johns’ turnover jumps by 66% in 2022
The improved offering helped the company to bring in £7m of business from new customers across the hospitality, education and care sectors
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NewsMedia Bites 14 June: Sainsbury’s/Asda, Yo! Sushi, Ocado
Sainsbury’s and Asda have been told to stop using ‘unlawful’ land agreements to prevent rival supermarkets from opening competing stores nearby
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NewsCity snapshot: WH Smith secures £400m refinancing to support travel ambitions
WH Smith has completed a £400m bank refinancing to support the group’s growing travel retail division.
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NewsMeatless Farm officially collapses as Kroll appointed as administrator
Meatless Farm has officially collapsed into administration after losing its battle to secure new investment, leaving shareholders facing multimillion-pound losses