Finance news – Page 522
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NewsDiageo hit by £107m diverted profits tax bill
The taxman has demanded £107m from the drinks giant for the financial years ending 30 June 2015 and 30 June 2016
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NewsInflation drops as big four strive to contain cost hikes
The big four are still trying to limit the extent to which they are passing on higher costs to consumers, data indicates
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NewsPepsiCo confirms it will close Walkers plant in Peterlee
The announcement comes two months after the fmcg giant said it was considering the “crucial” cost-saving move
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NewsCity snapshot: Coca-Cola HBC revenues up 5.2% in first quarter
European Coke bottler Coca-Cola HBC saw revenues rise 5.2% at constant exchange rates in the first quarter driven by higher prices in emerging markets. Plus, strong first quarter sales growth at Refresco and Henkel, Diageo fights £107m tax demand and all the rest of the latest news from the City.
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NewsMedia Bites 11 May: Diageo, Aldi, Pret A Manger, Just Eat
Diageo, the drinks company behind Johnnie Walker, Smirnoff and Guinness, is to pay HMRC £107m under the “Google tax” crackdown aimed at multinationals.
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NewsMars Petcare UK promotes Deri Watkins to managing director
Watkins has taken over from Damian Guha, who has moved to a global role
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NewsJust Eat faces CMA in-depth inquiry into £200m Hungryhouse takeover
The CMA is worried that the loss of competition from the combination of the two companies could lead to worse terms for restuarants who use either of the takeaway services
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NewsWeak pound hits first quarter sales at Raisio
Finnish food group Raisio has announced an 18.9% fall in first quarter revenues as the weak pound hit sales of Benecol and its confectionery products in the UK.
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News58 food and drink firms named in LSE’s 1000 Companies to Inspire Britain report
A total of 58 food and drinks companies have been named in the London Stock Exchange’s list of 100 Companies to Inspire Britain
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NewsMedia Bites 10 May: John Lewis, Coca-Cola, BRC retail sales
John Lewis created plenty of headlines this morning after it admitted to potentially breaking minimum wage rules.
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NewsCity snapshot: Record Kerrygold performance drives 9% revenues surge at Ornua
A record performance by Kerrygold has helped Irish dairy group Ornua increase revenues 9% in 2016 to €1.8bn. Plus, Compass announces its first-half results; the CMA is to investigate the Just Eat takeover of Hungryhouse; Ahold Delhaize reports it Q1 results; and Eagle Eye appoints a new COO
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NewsCraft spirits and beers gain shelf space in Asda booze overhaul
The supermarket added over 40 new spirits to its shelves this week in a major push towards the booming craft drinks market
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NewsChristian Boulter joins Symington's as business unit director
Boulter will start on 15 May and joins from Britvic…
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NewsJohn Lewis set to fork out £36m in back payments to staff
The group revealed its pay averaging system “did not meet the strict timing requirements” of government regulations
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NewsStrong Easter drives like-for-like retail sales up 5.6% in April
UK retail sales grow 5.6% in April boosted by Easter, but BRC warns over longer-term prospects for the sector
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NewsCity snapshot: UK retail boosted by Easter sales growth
Food sales increased 2.4% on a like-for-like basis and 3.6% on a total basis in the past 12 weeks boosted by the Easter break, the BRC – KPMG Retail Sales Monitor April 2017 has revealed
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NewsAB InBev's UK volumes grow in double digits in first quarter
Global volumes dropped –0.5%, but revenues were up 3.7% (organic) compared with the same quarter in 2016
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NewsMedia Bites 9 May: Co-op Bank, Premier Foods, UK retail sales
The Co-operative Bank is set to admit that a sale of its business has faltered, increasing the chances that its American hedge fund owners will have to plough more capital into the bank.
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NewsSibberi water brand acquired by mineral salt business Westlab
Birch water brand Sibberi has been snapped up by Westlab Group as the bath mineral salts business seeks to tap into the growing clean living trend.
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NewsMedia Bites 8 May: M&S, Tesco, Mark Price, Brexit
Marks & Spencer was in the spotlight over the weekend after making two management appointments in a bid to get the business back on track.