Finance news – Page 324
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NewsCoronavirus: Crisis talks as food & drink companies struggle to access bailout cash
Food and drink leaders are in crisis talks with the Treasury over fears hundreds of companies face going out of business as they struggle to access bailout cash pledged by the government last week
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NewsSykes acquires European shrimp processor, creating €300m seafood business
Liverpool-based seafood provider Sykes Seafood has acquired European shrimp processor Klaas Puul, despite the coronavirus outbreak halting almost all M&A activity
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NewsWelcome Break deal sends Applegreen sales soaring but coronavirus threatens 2020 growth
The addition of Welcome Break’s network of motorway services has boosted the annual sales of forecourt operator Applegreen to over €3bn, with profits more than doubling.
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NewsCoronavirus: ‘US trade negotiations must be delayed’
It a letter to the prime minster, 17 charities argue it is inappropriate for trade talks to continue with both countries in lockdown
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NewsCity snapshot: Domino’s reports sales surge during coronavirus crisis
Domino’s Pizza Group has reported a jump in UK sales in recent weeks as consumers order more takeaway deliveries during the coronavirus-driven social lockdown. Plus, annual results from Applegreen, coronavirus trading updates from Coca-Cola HBC, Finsbury Food Group, Total Produce and all the rest of the latest news from the City.
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NewsMedia Bites 27 March: Supermarkets/coronavirus, Farmers, Wholesalers
UK supermarkets reassure they will be able to cope with increased demand, Ocado chairman Rose urges shoppers to show restraint while farmers struggle with seasonal labour access
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NewsFSA and Defra issue new coronavirus guidance for food businesses
The advice covers a range of areas, such as hygiene practice, managing employee sickness and social distancing
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NewsEnergy drink startup Füd rejects Dragons’ Den cash in favour of crowdfunding raise
The company walked away from a £50k cash investment secured in the Den to raise double that amount on Seedrs
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NewsEmma Hynes to return to Greencore in role of chief financial officer
Hynes spent more than 11 years with Greencore
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NewsFood industry calls on government ‘War Room’ to encourage food makers to return to work
The Grocer understands about 20% of factory workers for one major supplier are currently opting to stay at home
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NewsGreengrocer Reynolds reports 95% drop in business
The pandemic has seen its foodservice and out-of-home customers shut down their operations
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NewsClosed retailers pressure shopping centres to shut too, threatening supermarket stores
Shops ordered to close by Boris Johnson are refusing to pay shopping centre service charges
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NewsCity snapshot: Intu misses out on rents as shopping centres shut
Intu received barely 29% of rents due on its UK properties as most retailers turned down the shutters due to the coronavirus pandemic. Plus, Casino posts annual profits growth, UK retail sales slow in February and all the rest of the latest news from the City.
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NewsMedia Bites 26 March: Supermarkets/coronavirus, Retail rents, SSP Group
Britain’s supermarkets have admitted they cannot cope with the sharp increase in demand for online food ordering and said customers who are able to will have to keep shopping in stores.
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NewsCoronavirus: EISA calls for tax relief threshold increase to boost investment in SMEs
The Enterprise Investment Scheme Association is urging the government to ramp up tax benefits for investors in SMEs
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NewsCoronavirus: produce sector warns of May labour ‘crunch point’
The news comes despite 8,000 applications from British workers in recent days
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NewsAsda and Tesco become latest retailers to limit customer numbers in stores
Asda said it would be placing colleagues at the front of stores to “limit the number of customers” coming in
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NewsSainsbury’s moves to immediate supplier payments
The supermarket said support would also be available to suppliers in financial distress as a result of the ongoing uncertainty
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NewsCity snapshot: SSP braces for £135m coronavirus revenue hit
As travel halts across Europe and Asia, SSP Group expects group revenues to fall between £125m and £135m
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NewsMedia Bites 25 March: UK supermarkets, Pharmacies, Retail sector
Supermarkets start introducing measures to protect customers and staff, pharmacies urge shoppers to only buy what needed while the coronavirus outbreak batters an already weakened retail sector