Finance news – Page 193
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NewsMedia Bites 14 Sep: Ocado, Morrisons/Aldi, Fever-Tree
Grocery sales will fall at Ocado this year for the first time in the company’s history as customers cut back orders in response to rises in the cost of living
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NewsCity snapshot: UK inflation slows but food prices keep soaring
Food prices have risen at the fastest rate for more than 14 years, with the sector becoming the biggest contributor to UK inflation last month. Plus, Naked Wines shares crash following two unexpected business updates after hours last night, and C&C Group issues first-half trading update.
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NewsMcCain Foods acquires Scelta Products to fuel frozen appetiser growth
The deal closed on 8 September and represents a significant investment from McCain to grow and expand in the frozen vegetable appetiser space
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NewsRapid grocer Gopuff gives employees stake in business
The GoStock Equity Programme is rolling out in the UK as a ‘direct acknowledgement’ of its staff’s ‘continued efforts’
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NewsCity snapshot: Aldi overtakes Morrisons as grocery inflation soars to 12.4%
The UK’s big four grocers are no more as Aldi has overtaken Morrisons’ market share as private label sales continue to grow amid soaring inflation. Plus, Ocado returns to growth in Q3, FeverTree first half sales rise but shipping costs hit profits and all the rest of the latest news from the City.
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NewsMedia Bites 13 September: Queen Elizabeth, Asda, food shortages
Stores including John Lewis, Waitrose and Homebase have said they will shut on Monday 19 September, as a sign of respect to Queen Elizabeth II on her funeral.
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NewsMedia Bites 12 Sep: Wilko, FeverTree, UK economy
Discount retailer Wilko is unilaterally changing its schedule of rent payments to conserve cash, as high street chains buckle under cost pressures
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NewsCity Snapshot: MP Evans profits soar on record palm oil prices
Profits at palm oil producer MP Evans have soared as the price of the edible vegetable oil hit record highs as a result of the Ukraine war.
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NewsCity News: Associated British Foods issues gloomy forecast as Primark is hit by ‘market volatility’
Associated British Foods became one of the first major consumer multinationals to downgrade profit expectations this week, warning its Primark retail business would be hit by the strength of the US dollar and “significant market volatility”
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NewsS-Ventures seals deal for German free-from brand Lizza
The deal for the pasta and bread supplier is part of a wider tie-up with Lizza’s former owner Peter Cremer Holding
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NewsCharlie Bigham’s tops £100m sales and snaps up frozen brand By Ruby
Revenues increased 29.2% – or £23.6m – to a record £104.4m in 2020/21 thanks to a legion of new customers trying the brand’s range of meals and puddings throughout lockdown.
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NewsCity snapshot: Diageo sells Archers Peach Schnapps to De Kuyper
De Kuyper Royal Distillers has acquired ‘British icon’ Archers Peach Schnapps from Diageo.
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NewsMedia Bites 9 September: Associated British Foods, Morrisons/McColl’s, Diageo
Coverage in today’s papers is dominated by the death of the Queen but there is still plenty in the way of retail and fmcg news.
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NewsTree of Life owner claims HSBC ‘refused’ to help ease burden
The health food wholesaler experienced a “dramatic” hit to sales caused by the twin shocks of Brexit and Covid, which followed a record year in the 12 months to 31 March 2021 when revenues exceeded £100m.
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NewsJonathan Warburton returns to helm of baker as MD Neil Campbell departs
MD Neil Campbell has left after nine years in charge amid tumultous inflationary market
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NewsCity snapshot: ABF warns on profits as currencies and economic volatility weigh on Primark
ABF has warned its profits next year will be hit by the strength of the US dollar and ‘signficant market voility affecting costs’, which will hit margins at its Primark retail arm.
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NewsMedia Bites 8 September: Ocado Retail, Beavertown, WH Smith
The papers pick up a new CEO for Ocado Retail, Liz Truss’ energy plans, the sale of Beavertown to Heineken and results at WH Smith.
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NewsBoundless Activated Snacking bags six-figure investment to grow gut health brand
Boundless Activated Snacking has secured a six-figure investment to maintain rapid growth at the gut health snacking brand.
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NewsMedia Bites 7 Sep: Juul Labs, National Lottery, DS Smith
Juul Labs must pay $438.5m after a two-year investigation concluded it had advertised vaping products to underage users
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NewsCity Snapshot: Bakkavor sales recover but inflation drags on profits
Bakkavor Group has continued its recovery from pandemic disruption, reporting strong revenue momentum in the first half despite inflationary challenges. Plus, WH Smith issues a pre-close trading update for the year.