Finance news – Page 74
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NewsAdnams abandons sale plan in favour of property assets sell-off
It is not clear how much debt the brewer needs to pay down
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NewsVape maker Supreme completes £10.2m rescue of Typhoo Tea
It comes after Typhoo was placed into administration last week
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NewsMedia Bites 2 December: Asda debt, Black Friday, seasonal workers
In the week after Asda appointed its new chairman, Allan Leighton, the nationals focused on the supermarket’s ongoing financial woes
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NewsKiril Mischeff buys Italian foods specialist Annessa Imports
Annessa imports Italian goods and them to the retail and foodservice trade
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NewsGail’s Bakery sales surge ahead of rumoured buyout
Analysts have speculated the company could be worth up to £500m
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NewsMedia Bites 29 November: Typhoo collapse, Waitrose food and drink trends, Morrisons/Ocado
Typhoo is poised to be taken over by vape business Supreme, after the tea company collapsed into administration
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NewsCity snapshot: Lacklustre footfall strikes another blow to retailers
Retail footfall fell again as a later-than-usual Black Friday and low consumer confidence meant customers were hesitant to hit the shops. Also, Heineken launches plans to build the Gulf’s first major commercial brewery in Dubai.
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NewsPets at Homes shares tank amid profit warning and worries of 'subdued' market
Pets at Home saw more than £200m wiped off its valuation this week as investors raced to sell-off shares after the chain warned of a “unusually subdued” pet retail market
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NewsTyphoo Tea brings in administrators as vape maker Supreme negotiates rescue deal
London-listed vape manufacturer Supreme confirmed this afternoon it is “currently participating in a process regarding the potential acquisition of Typhoo Tea”
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NewsPlanet Organic ‘forced’ to close another store after failing to agree new lease
The Spitalfields store is the third Planet Organic closed since founder Renée Elliott’s return to the business
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NewsNice Rice wins inaugural Future of Food award
Rice has the second highest emissions of any food after beef
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NewsCity snapshot: Remy Cointreau’s cost cutting helps limit profit slide
Remy Cointreau is cutting around €50m in costs this year to help limit its profits slide as sales continue to plummet in the US and China. Also, consumer confidence unaffected by last month’s budget, according to the British Retail Consortium.
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NewsJust Eat Takeaway to delist from London Stock Exchange
The Dutch business said the move would cut costs and complexity
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NewsUnilever explores sale of The Vegetarian Butcher as plant-based category slows
Analysts also speculated that Unilever could consider selling Colman’s, Marmite and Pot Noodle
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NewsTŷ Nant strikes double deal as Fast 50 premium water supplier buys two brands from Primo Water Corporation
Tŷ Nant has acquired two brands from US giant Primo Water Corporation to broaden its offering, as the rapidly growing Welsh supplier aims to become the number one super-premium water bottler in the UK
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NewsCity snapshot: Just Eat to delist from London Stock Exchange
The move is a blow to the UK government which launched “the biggest set of reforms to listing rules in over 30 years” earlier this year to try and reinvigorate the country’s capital markets. Also, Pet at Home sales stutter amid an “unusually subdued” pet retail market
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NewsTunnock’s profits rebound despite cocoa shortage
Tunnock’s, the maker of its eponymous teacakes and caramel wafers, saw profits rebound last year despite high ingredients costs continuing to weigh on its bottom line
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NewsHattiers Rum seeks £1m investment from selected investors
The premium brand is eschewing traditional crowdfunding and trying to selectively engage with investors
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NewsMedia Bites 26 November: Gails, Asda, Pladis/budget, Tariffs, Walmart
News emerges this morning that upmarket bakery chain Gail’s is up for sale
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NewsCity snapshot: Cranswick poised for strong Christmas as first-half volumes deliver results
Cranswick is set up for a strong Christmas after the meat processor reported volume-led growth in the first half. Plus, vape maker Supreme reports interims, Compass Group presents annual results and the latest BRC-NielsenIQ Shop Price Index