Finance news – Page 445
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NewsEast London Liquor and Cotswolds smash crowdfunding targets
Two craft gin and whisky distilleries have exceeded their seven-figure crowdfunding targets to scale up and tap the UK’s growing thirst for craft spirits
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NewsCity snapshot: Former Asda meat exec to take charge at Crawshaw
Butchery group Crawshaw has announced the appointment of former Asda meat executive Jim Viggars as CEO. Plus Heineken acquires a minority stake in the Belize Brewing Company, Nomad Foods reported first-quarter adjusted EBITDA up 16% and all the rest of the latest news from the City.
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NewsMedia Bites 11 May: Amazon/Morrisons, High streets, Walmart
Amazon could buy Morrisons, which already provides the online giant with food deliveries to UK customers using its Panty and Prime services, according to one industry analyst.
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NewsTesco CEO Dave Lewis’ pay up 17.5% to £4.9m
The annual pay packet of Tesco CEO Dave Lewis rose 17.5% last year to £4.9m as the award of shares worth £971k boosted his earnings.
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NewsCity snapshot: Morrisons trumpets ‘strong start’ to the year
Morrisons (MRW) has heralded “a strong start to the year” during which it became more competitive while delivering like-for-like sales of 3.6%. Plus, Tesco releases annual report, Coca-Cola HBC posts 4.5% first quarter organic growth and all the rest of the latest news from the City.
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NewsMedia Bites 10 May: Walmart/Flipkart, Greggs, Retail sales
Walmart has confirmed its agreement to by 77% of India’s largest online retailer, Flipkart, in a $16bn (£12bn) deal that puts the US giant head-to-head with Amazon.
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NewsCompass Group shares slide on profits drop
Compass Group has reported a “strong” first-half but subdued trading on the Continent offset good growth in the UK.
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NewsOcado unveils first robot picker at its Andover site
The retailer is on a path towards “100% robot picking” says technology chief
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NewsEngland to re-examine case for minimum alcohol unit pricing
The policy came into force in Scotland at the start of this month after five years of legal challenges
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NewsCity snapshot: Weak customer footfall hits Greggs food to go
The big winter freeze knocked food to go in some of Greggs’ retail locations, impacting performance in the first quarter of the year. Plus, Compass Group has reported a “strong” first-half but subdued trading on the Continent offset good growth in the UK, AB InBev posts first-quarter revenue up 4.7% in the first quarter, updates from Imperial Brands, Ahold Delhaize and Henkel and the rest of the news from the City.
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NewsMedia Bites 9 May: Sainsbury’s, Price wars, BRC/KPMG
Sainsbury’s bosses have exercised share options worth £4.5m, the timing and size of which could raise eyebrows so soon after the Asda merger was announced
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NewsFormer Tesco online boss Ken Towle takes over as CEO of Nisa
Interim CEO Arnu Misra will remain for a transition period to ensure a smooth handover, the completion of the deal comes after a court in London agreed to grant the Co-op a scheme of arrangement on Friday
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NewsJason Marshall joins BrewDog as CFO ahead of growth push
The brewer claims it is preparing for “a period of accelerated domestic and international growth”
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NewsCity snapshot: Nestlé clinches global coffee deal with Starbucks
Nestlé has confirmed an agreement granting it perpetual rights to market Starbucks consumer and foodservice products globally outside of the company’s coffee shops. Plus, Wynnstay Group has appointed a new CEO, PureCircle launches Coca-Cola Stevia No Sugar, and a look at the City diary for the rest of the week.
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NewsMedia Bites 8 May: Sainsbury’s/Asda, Waitrose/Amazon, Nestlé/Starbucks
Up to 2,500 jobs in supply chains could be jeopardised by Asda and Sainsbury’s proposed merger, the New Economics Foundation has warned.
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NewsNestlé Purina looks to follow Nespresso model with Tails.com
Tails.com, the direct-to-consumer dog nutrition startup, looks set for major expansion after being acquired by Nestlé Purina PetCare.
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NewsCity snapshot: Grocery inflation rises as soft drinks prices spike
Supermarket price inflation rose again last month as the advent of the ‘sugar tax’ caused a spike in the price of soft drinks. Plus, packaging group Smurfit Kappa Group posts underlying first quarter growth of 7%, Kellogg’s organic net sales rise 0.6% in Q1 and all the rest of the latest news from the City.
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NewsMedia Bites 4 May: Sainsbury’s/Asda, Tesco, Brexit
MPs have written to the Competition and Markets Authority (CMA) requesting more information about its proposed scrutiny of the Sainsbury’s/Asda deal.
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NewsMinimum unit pricing hikes cost of booze in Scotland
Shoppers this week faced price rises on more than 600 booze SKUs in Scotland
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NewsAlmost 45,000 retailers in "significant financial distress" after difficult first quarter
The number of retailer under “significant financial distress” in the UK has increased 21% following a quarter of decreased consumer spending