Finance news – Page 579
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NewsAB InBev takeover of SAB Miller hits bump as pound collapses
The cash portion of the bid suddenly became more than 10% less valuable after the UK quit the EU
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NewsFiddes Payne feels currency pressure in 'challenging' market
Norman Brodie took charge of the business in early 2016 in a management shake-up following disappointing trading
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NewsHeinz fights back by scaling up promotional assault
Heinz is ramping up supermarket promotions after reporting sales of its iconic beans and soups are struggling
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NewsBrexit currency slump to bring more UK meat to retail shelves
The fall of sterling against the euro is making British meat increasingly competitive against EU imports
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NewsPeanut price hikes put pressure on Meridian
There has been a 31% year-on-year hike in the cost of peanuts from Argentina
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NewsJames Hall snaps up 30 NECS convenience stores
Spar wholesaler has bought North East Convenience Stores for an undisclosed sum
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NewsRetail sales plunge 14% in latest CBI Distributive Trades Survey
The drop was more rapid than any time since January 2012 with weaker consumer confidence a likely factor
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NewsCommodities prices rocket as Brexit currency effect hits
Buying prices for almost all major commodities have soared in the UK as a result of the sterling crash
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NewsMedia Bites 28 July: SABMiller, Retail sales, Coca-Cola
SABMiller has told employees to stop working on integrating operations with those of Anheuser-Busch InBev.
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NewsAsda income tracker reveals extra £12 of disposable income
Asda says consumer spending power has now risen for 20 consecutive months
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NewsNumber of full-time retail jobs in fastest fall in two years
The number of full-time equivalent employees fell 2.4%, with retail outlets down 0.4% in the second quarter
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NewsStrong dollar drags down Coca-Cola’s second quarter sales
Coca-Cola’s net sales dropped 5% in the second quarter to 30 June as Coke was hit by negative currency movement and tough global economic conditions.
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NewsMondelez to enter China chocolate market with Milka range
The Cadbury Dairy Milk owner has been under pressure from activist investors to improve results
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NewsTurners Fine Foods collapses with 484 redundancies
Landmark Wholesale member Turners Fine Foods has collapsed after a failed turnaround attempt, with almost 500 staff losing their jobs.
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NewsUK economy grows faster than expected in run up to Brexit
The economy was estimated by the ONS to have grown by 0.6% in the three months to the end of June, increasing from 0.4% in the first quarter of the year.
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NewsCity Snapshot: Store growth helps sales rise 2.2% at McColl’s
Total revenues were up to £469.2m, driven by the acquisition of 24 new convenience stores
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NewsMedia Bites 27 July: AB InBev/SABMiller, Supermarkets, Fever-Tree
“Beer merger on the brink after higher bid falls flat” writes The Times after yesterday’s improved AB InBev offer for SABMiller fails to convince investors
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NewsFever-Tree relaxed about potential tonic war as sales and profits continue to fizz
Fever-Tree’s founders are relaxed about the impending entry of Britvic in the premium mixers category after its revenues soared 69% to £40.6m in first half.
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NewsGreencore sees “modest” Brexit impact as food to go drives sales increase
Greencore’s revenues were up 4% in the 13 weeks to 24 June, with Brexit having only a “modest” impact on the convenience food giant’s trading.