All Finance articles – Page 315
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NewsMedia Bites 15 July: Ocado, Oatly, Loop/Tesco
The boss of Ocado has declared that shoppers “won’t be going back” after the crisis spurred a rapid shift to online shopping and pushed its half-year sales above £1 billion for the first time.
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NewsLoop packaging platform makes UK debut in partnership with Tesco
Loop sorts and cleans the empty containers “to stringent health and safety standards” for reuse, before they are refilled by suppliers
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NewsFever-Tree buys German distributor Global Drinks Partnership
Global drinks mixer firm Fever-Tree has announced the acquisition of Global Drinks Partnership, the group’s sales agent in Germany, in a package worth €9.5m.
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Comment & OpinionCompulsory masks are a burden on retailers – and it may push more shoppers online
Will retailers have to refuse service to those not wearing masks? And will those shoppers give up and go online?
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NewsAldi doubles size home delivery trial with Deliveroo
They include branches in Greater Manchester and Cambridge, along with five more stores in London
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NewsWilko appoints Karen Mackay as group chief financial officer
Mackay joins the home and garden chain from Optegra International, where she has been group chief financial officer for five years
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NewsCMA drops convenience stores from pandemic price gouging investigation
A pharmacy is now at the centre of the CMA’s only remaining investigation into excessive pricing during the pandemic
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NewsCity snapshot: Ocado first half retail sales top £1bn but pre-exceptional losses mount
Ocado has posted first half retail sales growth of 27.2% amid “unprecedented and sustained demand”, but its pre-exceptional losses rose by 64% to almost £80m amid mounting costs. Plus, Fever-Tree buys German distributor and updates on sales, McBride guides to better second half than expected and all the rest of the latest news from the City.
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NewsMedia Bites 14 July: Face masks, Retail sales, Ocado
Face coverings will become mandatory in shops and supermarkets with fines of up to £100 for anyone who fails to adhere to the new rules
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NewsMighty Pea secures £1m funding in UK government Future Fund scheme
The company was one of a handful of brands to receive cash under the Future Fund, with only about 10% of applications having been accepted so far
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NewsWarburtons partners with Mission Ventures to support next generation of baking businesses
Batch Ventures combines equity funding and hands-on support from entrepreneurs and industry professionals to help the selected cohort of businesses grow and succeed
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NewsRetail footfall slumps 57% in June despite reopening ‘spike’
Retail footfall remained at historic lows in June, but it experienced ‘signficant’ improvement after the ‘turning point’ of the reopening of non-essential retail stores in mid-June.
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NewsMedia Bites 13 July: Asda, Tesco, ABF
The UK’s highest court will today begin hearing one of the country’s biggest ever equal pay cases over a claim brought by more than 43,000 supermarket workers against US-owned Asda
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NewsC&C Group shares boosted by appointment of new CEO David Forde
Forde, currently Heineken’s UK MD, will join the FTSE 250 brewer and wholesaler “no later than early 2021”
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NewsSupermarket price inflation falls back as deals return and price war looms
Offers and promotions have started to rematerialise, damping grocery price inflation
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NewsPoor potato harvest hits McCain profits
Profits more than halved at frozen foods specialist McCain last year as “one of the worst potato harvests in 40 years” hit its bottom line.
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Comment & OpinionThe answer to Allied’s troubles is surely to acquire Hovis
Despite hefty investment, Hovis is still taking lumps out of the Allied Bakeries business
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NewsBrakes records £25m loss and warns over coronavirus impact
The loss came in the wake of £39.3m pre-tax profit from the previous year
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NewsConsumer confidence rising as lockdown is eased, says IGD
IGD’s Shopper Confidence Index shows a combination of the easing, warm weather and low inflation has driven up confidence levels
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Analysis & FeaturesWhat next for Allied Bakeries after losing the Co-op contract?
Allied has now lost its second bakery supply deal in two years. How can it salvage the situation? Is buying Hovis the answer to its prayers?