All Finance articles – Page 275
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NewsMedia Bites 8 June: Tesco/Carrefour, Sainsbury’s, Reckitt Benckiser
The papers pick up stories on the end of the Tesco and Carrefour buying alliance, remuneration at Sainsbury’s and the lossmaking sale of Reckit Benckiser’s baby formula business in China.
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NewsMedia Bites 7 June: Reckitt Benckiser, Chapel Down, Getir
Reckitt Benckiser is taking a £2.5bn loss on the sale of its struggling baby formula business in China
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NewsCity Snapshot: Reckitt Benckiser offloads baby milk business in China for $2.2bn
Reckitt Benckiser has agreed to sell its struggling baby formula business in China to a global investment firm for $2.2bn (£1.6bn). Plus, Tesco and Carrefour call it a day on purchasing alliance; and English sparkling wine producer Gusbourne increases sales thanks to DTC and international shift during Covid.
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NewsCity News: B&M shares fall on expectation it can’t ‘improve on perfection’
Having absorbed B&M European Value Retail’s surging annual sales and doubling of profits, the market promptly sent the discounter down 5%
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NewsFerrero beats rivals to acquire Burton’s Biscuits for £300m
The deal continues the Italian confectionery giant’s expansion into the sweet biscuit category
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NewsFactory closure drives Upfield loss in first year following Unilever separation
Flora owner Upfield fell to a £28.5m operating loss in its first year of separation from previous owner Unilever
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NewsEuro Food Brands sees growth despite Illycafè demerger
Specialist distributor Euro Food Brands has posted double-digit annual growth despite the demerger of its UK Illycaffè Italian coffee business as demand for its global brands soared during the pandemic
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NewsMonde Nissin raises $1bn to drive global growth of Quorn
The owner of Quorn has raised $1bn to help fund a global push for its meat alternative brand after listing on the Philippines Stock Exchange.
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NewsCity snapshot: Wine sales surge at Chapel Down but sale of Curious Drinks hits profits
English wine maker Chapel Down shrugged off widespread closures in the off-trade to grow sales volumes 38% last year, but group results were hit by the weaker performance of its demerged beer and cider arm Curious Drinks.
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NewsMedia Bites 4 June: Tesco, Food prices, B&M
Tesco faces £2.5bn bill after the European Court of Justice Supermarket ruled that shop floor workers’ pay can be compared to distribution centre staff
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NewsWholesalers sound alarm over axing of government’s Trade Credit Reinsurance Scheme
The scheme will come to an end on 30 June after providing around £210bn in insurance cover
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NewsCity snapshot: Profits and sales surge in ‘exceptional’ year for B&M
Revenues leapt by a quarter and profits more than doubled at B&M European Value Retail as the coronavirus pandemic led to a spike in demand.
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NewsMedia Bites 3 June: Amazon, Footfall, Chapel Down
Amazon is poised to snatch Tesco’s crown as Britain’s biggest retailer in 2025 as the online titan lays waste to swathes of Britain’s high street.
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NewsRays Ice Cream seeking new owners
Established in 2011, Swindon-based Rays Ice Cream operates from a retail store in the Old Town area of the town
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NewsKocktail drinks to crowdfunding success as it prepares for retail launch
Launched in September 2020 by Emil Stickland and Andrew Hutchinson, the business raised £167k in the Seedrs campaign, valuing it at just less than £1m.
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NewsHancocks reports £1.3m loss after Covid devastates sales
Hancocks received £6.5m in government-backed loans after coronavirus restrictions forced the wholesaler to temporarily close its 19 cash & carry site
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NewsCook sees 7% sales jump as proportion of online orders soars
The upmarket frozen food retailer and manufacturer said it would pay back £235k of furlough aid
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NewsMedia Bites 2 June: Ferrero/Burton’s, Food inflation, JD Wetherspoon
Italian confectionery giant Ferrero has snapped up the maker of Jammie Dodgers and Wagon Wheels, taking a larger bite of the biscuit market
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NewsCity Snapshot: Supermarket sales drop as Brits return to the pub
Grocery sales at UK supermarkets have tumbled as locked-down consumers returned to pubs, cafes and restaurants following easing of coronavirus restrictions, the latest data from NielsenIQ showed. Plus, food prices fall for second month in a row as supermarkets battle it out to win shoppers, according to latest BRC-NielsenIQ Shop Price Index.
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NewsFerrero swoops to acquire Burton’s Biscuits to add to growing biscuit empire
The acquisition – for an undisclosed price – adds to the Italian confectionery giant’s growing biscuits empire following the takeover of Fox’s in 2020