All articles by Alec Mattinson – Page 100
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NewsMedia Bites 18 March: Chancellor/Business rates, Supermarkets/Coronavirus, Compass
Rishi Sunak has announced state loan guarantees worth £330bn along with a further £20bn of financial handouts to help struggling businesses cope with the rapid spread of coronavirus, including a one-year break from business rates.
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NewsCity snapshot: Compass Group issues coronavirus-driven profits warning
Global catering giant Compass Group expects the spread of the coronavirus to hits its bottom line by up to 30% and reduce profits by £225m. Plus, The British Honey Co will use excess capacity to produce alcohol sanitisers, Bakkavor completes £455m refinancing and all the rest of the latest news from the City.
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NewsMedia Bites 17 March: Asda, Supermarkets/coronavirus, ABF
Asda is moving closer to a sale after attracting bids from several private equity firms that could value the company at more than £7bn.
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NewsCity snapshot: Associated British Foods warns of impact of Primark European store closures
Associated British Foods has this morning warned the temporary closures of its Primark stores in Italy, France, Spain and Austria could cost £190m in lost sales. Plus The BRC and supermarkets issue public plea over panic buying and all the rest of the latest news from the City.
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NewsMedia Bites 16 March: Supermarkets/coronavirus, Morrisons, Hand sanitiser
Britain’s leading supermarkets are pleading with customers to refrain from panic buying during the coronavirus crisis, with some already rationing items and turning new customers away to cope with demand.
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Analysis & FeaturesGPI finds food inflation continues to edge upwards
Supermarket inflation moved back to its second-highest level since mid-2018 in February as prices continue to move upwards.
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NewsCity News: Analysts welcome hefty price tag for Tesco’s Asian arm
Tesco’s long-shelved plans for global domination were further unwound this week with the sale of its Asian arm for £8bn, as it continues to refocus on its core business.
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Analysis & FeaturesBudget 2020: Who were grocery’s big winners and losers?
The specific measures in Rishi Sunak’s first budget were a mixed bag for grocery
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NewsCity snapshot: Food inflation persists as all of big four raise prices
Supermarket inflation moved back to its second-highest level since mid-2018 in February as prices continue to move upwards
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NewsCity snapshot: WH Smith says coronavirus outbreak will cost up to £130m of sales
Shares in travel retailer WH Smith have collapsed after it warned the outbreak of the Covid-19 virus will hit its annual sales by up to £130m and its bottom line by up to £40m. Plus, markets plunge again on coronavirus spread, Carrs Group issues profits warning, C&C Group updates the market and all the rest of the latest news from the City.
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NewsMedia Bites 12 March: Budget, Morrisons, PepsiCo/Rockstar
Rishi Sunak announced the biggest budget giveaway for almost 30 years yesterday
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NewsBudget 2020: The key takeaways for the grocery industry
The era of austerity is definitively over after Chancellor Rishi Sunak delivered a Budget full of spending commitments, but the specific measures were rather more mixed for the grocery industry
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NewsCity Snapshot: B&M sells German business for €12.5m
B&M Bargains owners B&M European Retail has sold its loss-making German arm Jawoll to a consortium of German investors for €12.5m (£10.9m). Plus, The Bank of England has slashed interest rates back to a historic low of just 0.25% as an emergency response to the coronavirus outbreak and all the rest of the latest news from the City.
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NewsMedia Bites 11 March: Coronavirus, Budget, Unilever
Sales of both freezers and frozen food have surged in the UK amid panic buying by Britons worried about the spread of coronavirus.
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NewsCity snapshot: Food and healthcare sales spike amid coronavirus fears
Sales of food and healthcare products have edged higher at the end of February, amid growing concerns around the global coronavirus outbreak
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NewsMedia Bites 10 March: Tesco, Retail sales, Amazon
Tesco is planning to hand out £5bn to shareholders and pump £2.5bn into its pension fund after lining up the sale of its Thai and Malaysian businesses.
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NewsCity snapshot: Tesco agrees £8bn Thai and Malaysian business sale
Tesco has agreed to sell its business Thailand and Malaysia to CP Group for an enterprise value of US$10,6bn (£8.2bn) to fund a special dividend and a £2.5bn pension contribution. Plus, global markets collapse amid oil price plunge and all the rest of the latest news from the City.
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NewsMedia Bites 9 March: Coronavirus/Supermarkets, High Street/Business rates, Pret
Major supermarkets began rationing food online on Sunday after panicked shoppers cleared shelves and experts warned of weeks of shortages.
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NewsGosh posts stellar growth as demand for meat alternatives soars
Plant-based food producer Gosh has posted another year of stellar growth, with sales jumping 34% to £18.6m as it continues to tap demand for meat alternatives.
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NewsCity snapshot: Waitrose sale ‘not up for debate’ in John Lewis turnaround plan
John Lewis Partnership chairman Sharon White has insisted a sale of Waitrose is not on the table as the group revealed a wide-scale strategic review.