All Economy articles – Page 28
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Analysis & FeaturesBudget 2021: food and drink industry has its say
Reactions from industry to Chancellor Rishi Sunak’s Budget announcements have been largely positive, praising the relief action taken to ease pressure on businesses after nearly two years of pandemic-related squeezes
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Comment & OpinionWhat we learned in the Autumn Budget 2021: from business rates to alcohol duty reforms
Business rates will be cut but not overhauled, while alcohol duty is in for a more radical reform
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NewsFood prices climb higher as soaring costs slams industry
Food inflation has ramped up to its highest level since November 2020 as spiralling costs led to higher prices on supermarket shelves, with fresh food becoming more expensive for the first time in ten months.
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Comment & OpinionHow to break the cycle of short-term pressure dictating the food system
It’s time to reimagine the UK food supply chain and invest in new technologies and facilities, says SmartParc’s Jackie Wild
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NewsP&G faces $2.1bn commodity hit as first quarter margins slide
US consumer giant Procter & Gamble has posted a 5% rise in first quarter net sales, but warned it faces a $2.1bn headwind from higher commodity prices and a further $200m due to freight costs.
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NewsProfit warnings rise in grocery industry as supply chain challenges bite
Profit warnings by UK listed companies in consumer-facing sectors, including retail and grocery producers, accounted for more than a third of those issued between July and September
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NewsCity snapshot: Grocery growth falls back as consumers tighten belts amid wider inflation
Grocery sales fell 0.7% in the four weeks to 9 October as UK consumers rebalanced spending priorities amid rising energy and fuel costs, according to Nielsen. Plus, McBride issues further profits warning on mounting costs.
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NewsGrocery sales drop as fuel crisis leads to fewer store visits
Take-home grocery sales fell by 1.2% over the 12 weeks to 3 October 2021, according to the latest figures from Kantar as the petrol crisis limited instore shopper numbers
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NewsCity snapshot: UK retail sales falter as fuel crisis hits confidence
UK retail sales rose by their slowest rate since the UK was in lockdown in January as fuel shortages and wet weather hit consumer purchasing
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Comment & OpinionDubious rhetoric won’t be enough to carry the UK through COP26 and beyond
The UK has nowhere to hide on its climate change commitments, says Andrew Kuyk, director general at Provision Trade Federation
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NewsHundreds of jobs at risk as 2 Sisters explores Uttoxeter biscuit factory closure
2 Sisters Food Group is exploring the closure of its own-label biscuit factory in the Midlands as cost pressures facing the food industry intensify putting more than 500 jobs at risk.
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NewsInflation hits food industry as rising costs and supply chain pressures bite
Food prices have jumped up for the first time in six months as the barrage of cost pressures and supply chain challenges started to filter through to consumers.
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NewsCity Snapshot: CD&R and Fortress auction for Morrisons to go ahead on Saturday
The City’s Takeover Panel has set out the terms of the forthcoming Morrisons auction between Clayton, Dubilier & Rice (CD&R) and Fortress Investment Group. Plus, food prices rise for first time in six months, SSP Group updates on trading, and SIS signs partnership with NBA champions.
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NewsCity Snapshot: Consumer confidence hit by escalating inflation worries
Consumer confidence was dented in September on the back of growing anxiety about a potential cost of living crisis as gas prices shot up and food inflation looked set to kick in. Plus, Mexican fast-food chain Tortilla unveils plans for a flotation on London’s junior AIM market.
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NewsCity snapshot: Retail sales continue to slide in August
Retail sales were down once more in August as the return of the hospitality industry hit food sales
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NewsCity snapshot: Retail sales growth begins to slow in August
Year on year sales growth fell back in August as pent-up post-lockdown demand softened, according to the monthly BRC-KPMG Retail Sales Monitor. Plus interim results from McBride and Parsley Box.
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NewsCity snapshot: Great Britain loses 8,700 shops in the first half of 2021
More than 8,700 stores disappeared from Great Britain’s high streets in the first six months of 2021 as the level of retail vacancies reached an all time high.
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NewsCity snapshot: Retail footfall still down on pre-pandemic levels despite August bounce
UK retail footfall remains significantly down in pre-pandemic levels despite the relaxation of government Covid restrictions, albeit August saw some tentative signs of recovery.
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NewsUK food and drink exports to the EU slump by £2bn
The Food and Drink Federation found overall industry exports were down 4.5% to £9.2bn in the first six months of the year
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NewsFood price hikes ‘likely’ in coming months: BRC
Rising costs continue to hammer suppliers and retailers, according to the latest industry data