Finance news – Page 366
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NewsDavid Butcher returns to Carabao for second spell as MD
Butcher was Carabao UK & Ireland MD for seven months until November 2017
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NewsCity snapshot: Retailers demand ‘fixing’ of ‘outdated’ business rates
Representatives of more than 50 high street retailers have urged Chancellor Sajid Javid to take action. Plus, meal kit provider HelloFresh sees 37% quarterly sales jump and first group-wide profit, organic sales slip at Henkel and all the rest of the latest news from the City.
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NewsMedia Bites 13 Aug: Valeo Foods, Business Rates, Deliveroo
Valeo Foods Group is reportedly in exclusive talks to buy Kettle Foods’ operations in the UK and Ireland
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NewsCo-op joins Tesco’s calls for online sales tax
Tesco CEO Dave Lewis has called on the government to cut business rates by 20%, funded by a 2% levy on online sales
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NewsJuly retail footfall worst in seven years
Retail footfall continued to decline in July, marking the worst performance for the month since 2012. Plus, New Zealand dairy giant Fonterra takes £300-plus writedowns on global businesses and all the rest of the latest news from the City.
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NewsMedia Bites 12 Aug: Stockpiling, Retail Footfall, Asda
Britons have spent £4bn stockpiling goods in preparation for a possible no-deal Brexit
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NewsSnack startup AP Brands seeking £500k in crowdfunding
The crisps, popcorn and pork crackling producer will hit Crowdcube on 12 August
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NewsRetail staff vacancies in ‘substantial’ decline, figures reveal
Retail ranked bottom of the league table compared with other sectors
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NewsIlly brings UK coffee distribution in house
Euro Food Brands has managed sales and distribution for over 25 years
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NewsKitwave acquires chilled product wholesaler Central Supplies
The deal marks Kitwave’s first major acquisition since it bought on-trade alcohol wholesaler HB Clark in 2016
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NewsMedia Bites 9 Aug: Kraft Heinz, Uber, Aldi
Kraft Heinz shares tumbled after the packaged food giant reported a fall in pre-tax profits of over 50%
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NewsCity snapshot: Tangerine invests £7.5m in York plant as it consolidates Big Bear production
UK-based sweet maker Tangerine Confectionery has invested £7.5m in its York factory as it formally integrates Big Bear Confectionery months after merging with the struggling brand. Plus all the rest of the latest news from the City.
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NewsTangerine to manufacture key Big Bear brands at upgraded York factory
The investment will see production of Big Bear’s key Fox’s and Poppets brands move to Tangerine’s York site.
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NewsKraft Heinz woes continue as it reports ‘unacceptable’ interim results
The packaged food giant reported pre-tax profits of $1.17bn, down 50% year-on-year
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NewsCity snapshot: CCEP shrugs off poor weather to post first half growth
Coca-Cola European Partners has posted a “good” rise in first half sales volumes, revenues and profits despite poor weather in the second quarter of the year. Plus, first half trading updates from Coca-Cola European Partners, Kerry Group and all the rest of the latest news from the City.
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NewsMedia Bites 8 Aug: Diageo, Pizza Express, Brexit/Exports
A boom in the number of teetotalers and health-conscious drinkers has prompted Diageo to take a majority stake in non-alcoholic spirits brand Seedlip.
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NewsNumber of food & drinks suppliers in ‘distress’ grows amid economic slowdown
The number of food & drinks manufacturers in financial distress has increased by a further 3%, as Brexit uncertainty and weak consumer spending took its toll
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NewsAston Manor profits plunge despite sales increase as exceptional costs hit
Profits have tumbled at cider producer Aston Manor despite sales rising 5% in the first year of ownership under French co-operative Agrial as one-off costs hit the bottom line.
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NewsDiageo swoops for a majority stake in Seedlip
The deal – completed for an undislosed amount – follows Diageo’s minority investment in Seedlip in 2016
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NewsFDF calls for relaxation of rules to aid no-deal planning
Competition lawyers are not expecting the government to allow a relaxation of the rules