All articles by Alec Mattinson – Page 177
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NewsMedia Bites 22 August: SABMiller, Deflation, M&S, Argos
The High Court will decide today whether the brewing giant SAB Miller can hold two shareholder votes on its £79bn takeover — in an unusual move that would increase the odds of the deal collapsing.
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NewsPost-Brexit fall in sterling counters deflationary trend
The deflation that has gripped grocery since 2014 has eased for the second consecutive month after the Brexit vote.
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NewsNestlé growth slows but market backs it for second half
Troubles in China, deflation in Western markets and soft commodity prices ate into Nestlé’s first-half growth this week
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NewsCity snapshot: Propercorn poised for private equity cash injection
Propercorn is close to signing a deal with private equity firm Piper for a minority stake valuing the fast-growing popcorn brand at up to £25m. Plus Birds Eye sales fall again as Nomad begins turnaround and all the rest of the latest news from the City.
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NewsMedia Bites 19 Aug: Asda/Walmart, Nestlé, UK retail sales
Asda’s catastrophic 7.5% like-for-like quarterly sales slump is unsurprisingly the major focus on this morning’s business pages.
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NewsCMA gives provisional green light to Hain’s Orchard fruit juice deal
The Competition and Markets Authority has accepted the concessions made by US food group Hain Celestial to buy UK fruit juice player Orchard House Foods.
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NewsWalmart shrugs off Asda woes to post second quarter sales growth
Walmart’s shares rose 2.5% in early trading to $74.75 after sales growth in its home market helped it record a second quarter constant currency sales rise of 2.8% to US$123.6bn.
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NewsCity snapshot: Nestlé reports first half organic growth of 3.5%
Nestlé (NESN) has undershot analyst expectations by reporting first half organic sales growth of 3.5% to CHF43.2bn, plus full year results from Treasury Wine Estates and all the rest of today’s news from the City.
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NewsMedia Bites 18 August: Carlsberg, Obesity strategy, Consumer confidence
Carlsberg lost market share in Britain in the first half of the year after Tesco delisted the Danish brewer’s core lagers from thousands of its supermarkets.
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NewsSweet producer Maxilin Crawford buys rival Tilley’s Sweets
Liquorice sweets and lollipop supplier Maxilin Crawford has snapped up rival sweets manfucaterer Tilley’s Sweets for an undisclosed sum to more than triple its manufacturing capabilties.
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NewsUK inflation hits its highest point since November 2014
UK inflation is at its highest level for almost two years after the Office of National Statistics announced the Consumer Prices Index rose to 0.6% in the year to July.
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NewsCity snapshot: Industry unites behind sugar tax fight
The food and drink industry has clubbed together to launch a new campaign to fight the sugar tax
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NewsMedia Bites 16 August: Brexit, Sugar tax, Pensions
“Sterling sinks as market braces for truth on Brexit” is the main story in The Times this morning.
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NewsOcado wins over the City with signing of Morrisons deal
The new agreement between Morrisons and Ocado sent Ocado shares soaring this week
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NewsCity snapshot: Bear targets international growth after 37% sales jump
Healthy snack brands Bear and Urban Fruit saw sales grow by 37% in the year it was taken over by Belgian bakery Lotus. Poundland hopes to be owned by Steinhoff by 16 September, but like for likes for 19 weeks to 7 August are down 4.9%, plus all the rest of the news from the City.
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NewsMedia Bites 12 Aug: Steinhoff/Poundland, Coca-Cola HBC, BHS
Steinhoff’s improved offer for Poundland yesterday is the major retail story in this morning’s papers.
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NewsActivist investor forces Steinhoff to increase Poundland offer
Steinhoff has upped its offer for Poundland by 5p to 225p a share following pressure from activist investors.
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NewsTyrrells sold for £300m to US group Amplify Snack Brands
caPremium crisps brand Tyrrells has been sold to US-listed Amplify Snack Brands for £300m by its private equity owner Investcorp.
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NewsCity snapshot: Berry Bros & Rudd bounces back
Wine merchants Berry Bros slashes annual losses, the FTSE is boosted by interest rate cut as pound falls again and all the rest of today’s news from the City.
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NewsMedia Bites 5 Aug: ABInBev/SABMiller, Interest rates, BrewDog
Up to 576 UK jobs could go in AB InBev’s takeover of rival brewer SABMiller as AB InBev execs dominate new structure.