Finance news – Page 115
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NewsSomething & Nothing targets US expansion with £1.5m VC backing
Premium seltzer brand Something & Nothing has raised £1.5m in a private investment round to capitalise on growing demand in the US for its range of drinks.
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NewsMedia Bites 17 May: Greggs, inflation, pig farmers, McDonald’s
Greggs makes the headlines as outgoing CEO Roger Whiteside delivers final trading update, while the Bank of England govenor appears before a select committee to talk about soaring inflation and an “apocalyptic” rise in food prices.
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NewsCity snapshot: Out-of-home rebound boosts Britvic’s sales and profits
Britvic has posted a double digit rise in sales and profits as both in and out-of-home channels grew and immediate consumption bounced back to pre-Covid levels. Plus results from C&C Group and Imperial Brands.
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NewsMcDonald’s to exit Russia with sale of business
Global fast food giant McDonald’s has announced it will cease all operations in Russia after 30 years in the country due to its invasion of Ukraine
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NewsMedia Bites 16 May: Boots, HFSS, Tesco
The bid battle for Boots is expected to stretch into the next month at least after the three remaining suitors requested more information on recent trading
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NewsCity Snapshot: Greggs recovery continues but cost pressures set to increase
A recovery at Greggs has continued in the first quarter as like-for-like sales jumped 27.4% but the high street bakery chain warned of increasing cost pressures.
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NewsCompass Group is ‘a stock you have to own’ as new business opportunities open up
Compass Group shares were hammered during the pandemic, but the catering giant was back on the front foot this week
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NewsUK food and drink exports show patchy signs of recovery
Exports of food and drink from Scotland, Wales and north east England have enjoyed a strong recovery according to new figures from the Food & Drink Federation, but the picture is mixed
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NewsGreencore names former Morrisons boss Dalton Philips as new CEO
Philips will replace outgoing CEO Patrick Coveney
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NewsCity snapshot: Executive pay trebles at Tesco to over £12m
Tesco has paid out more than £12m to its senior leadership team as executive pay strongly rebounded at the supermarket last year
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NewsMedia Bites 13 May: Salmonella/Cranswick, Coca-Cola HBC, Deliveroo
More than 100 products containing cooked chicken have been removed from sale after a salmonella scare at a major supplier
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NewsWaitrose warns of more inflation-driven “uncertainties” after falling to annual loss
Waitrose has fallen to a statutory loss of £2.3m in 2021/22 Waitrose has fallen to a statutory loss of £2.3m last year after trading profits were heavily impacted by supply chain challenges and pandemic-related costs. The supermarket swung to red from a profit of £126.3m the year ...
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NewsCanned wine brand Hun sold to owner as rival brand Babe exits UK
Hun, which was backed by Waitrose executive director James Bailey, has been acquired by its wine supplier Origin Wine after running aground
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NewsCity Snapshot: Coca-Cola HBC sales soar despite suspension of Russian orders
Eastern European Coke bottle Coca-Cola HBC has posted a strong rebound in growth despite facing a “turbulent environment” due to disruption in major markets of Ukraine and Russia
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NewsMedia Bites 12 May: Tesco, Compass Group, Boparan
Tesco is to convert unused shop space into mini offices as the supermarket seeks to cash in on demand from home workers
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NewsNomad sales volumes and margins slide amid 'difficult' economic conditions
Frozen foods giant Nomad posted headline sales growth in the first three months of 2022 despite tough comparisons and “difficult” economic conditions, but organic sales were down as volumes dropped back
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NewsPhilip Morris International agrees $16bn deal for Swedish nicotine pouch player
Swedish Match, the European producer of oral nicotine pouches, has agreed a $16bn deal to sell to global tobacco giant Philip Morris.
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NewsCity snapshot: Compass Group raises growth forecast as outsourcing picks up
Catering giant Compass Group has hiked its full year growth forecasts after getting back to pre-Covid sales levels at the end of its first half
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NewsMedia Bites 11 May: Philip Morris, Brexit checks, Cost of living
Philip Morris International has struck a $16bn deal to buy Swedish Match, as the tobacco company makes its biggest bet yet on the market for cigarette alternatives
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NewsCity snapshot: Rising cost of living puts brakes on retail spending
The rising cost of living has “crushed” consumer confidence and put the brakes on consumer spending, according to the latest figures from the BRC-KPMG Retail Sales Monitor