Finance news – Page 304
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NewsMedia Bites 9 July: Mini budget, Uber Eats/Asda, Kbox
Sunak unveils £30bn economic package in the Summer “Mini Budget”, Uber Eats teams up with Adsa for grocery deliveries and Deliveroo backer Hoxton Venutures invests in Kbox
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NewsCity snapshot: C&C Group names Heineken UK boss David Forde as CEO
C&C Group has appointed Heineken UK MD David Forde as group CEO, joining in 2021.
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NewsPlant-based meat startup This readies £2m crowdfunding push
The startup will use the funds to open a plant-based innovation centre in London
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NewsAsda partners with Uber Eats for 30-minute grocery delivery
The trial, which launches this week, gives customers a choice of more than 300 Asda own-brand products
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NewsOcado relaunches shopping app after pulling it in March due to soaring demand
Ocado had been forced to turn away new customers and pull the mobile app due to “performance issues”
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NewsCity snapshot: Distil revenues rise 21% since April on strong retail sales
The premium drinks brands owner now expects revenues for the first half up by 75% to 85%
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NewsMedia Bites 8 July: Mini budget, Government loans, Retail footfall
Rishi Sunak will deliver his mini budget today in what the Treasury is calling the Summer Economic Update, with a focus on jobs, youth unemployment and a possible temporary cut to VAT.
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NewsJoanna Allen steps in as new CEO of Graze
Allen has taken over from Anthony Fletcher, who spent nine years leading the business
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NewsUK footfall recovery remains sluggish despite lockdown easing
UK footfall recovered slightly in the third week of shops reopening in England and Northern Ireland, but were still down almost 50% year on year
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NewsMedia Bites 7 Jul: Pret A Manger, High Street spending, Uber
Pret A Manger mulls closing 30 stores and axing over 1,000 staff after coronavirus hit, high street spending partly rebounds as casual dining sector reopens and Chancellor Sunak is due to announce a £3bn package of green investment
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NewsCity snapshot: Uber confirms $2.65m Postmates US food delivery acquisition
Uber said Postmates is highly complementary to Uber Eats, with differentiated geographic focus areas and customer demographics
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NewsGovernment urged to clamp down on unhealthy foods by new report
Where change has not happened the government must introduce mandatory requirements, according to the report
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NewsRentokil CFO Jeremy Townsend joins Morrisons as non-executive director
Townsend will step into a non-exec role with immediate effect, replacing Belinda Richards, who is leaving after five years
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NewsCity Snapshot: Chancellor mulls new coronavirus measures as EU relaxes state aid rules
The Treasury is looking into making accessing coronavirus support loans easier for businesses
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NewsMedia Bites 6 July: Tesco, M&S/Ocado, Pret
Tesco has demanded “offensive” discounts from suppliers in a move expected to spark a price war.
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NewsExporters fear US standards would undermine Britain’s ‘premium’ reputation
A new trade commission was hailed as an “important step” towards protecting British food standards
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NewsSuffolk ice cream maker celebrates 100th anniversary after £250k coronavirus loan
Family-run ice cream maker Criterion Ices has been able to celebrate its 100th anniversary after securing a £250k loan to help it navigate the coronavirus disruption
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NewsSainsbury’s scraps immediate payments for small suppliers
The supermarket, like several other retailers, improved its terms in the wake of the virus
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NewsTesco pressures suppliers to drop prices in Aldi price war
The Grocer understands suppliers have been given a cut-off of 10 July to respond to its call for a switch to everyday low pricing (EDLP), which will also see promotions canned unless they come under its Clubcard loyalty scheme
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NewsHiggidy back in profit after stake sale to Samworth Brothers
Higgidy’s pre-tax profits came in at £42k, compared with a £180k loss the prior year