Finance news – Page 116
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NewsMedia Bites 10 May: McColl’s/Morrisons, Cost of living, Philip Morris
The papers heavily feature the news that Morrisons has secured a rescue package for convenience chain McColl’s, beating off competition from EG Group
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NewsMorrisons confirms McColl’s rescue package
Morrisons has confirmed it has agreed to buy convenience chain McColl’s from administration, saving all 16,000 jobs
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NewsMorrisons set to win McColl’s rescue battle
Morrisons has reportedly seen off EG Group to secure a rescue package for stricken convenience chain McColl’s
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NewsCity Snapshot: Morrisons and EG Group improve bids in fight for McColl’s
Morrisons and EG Group are reportedly locked in a two-way fight to rescue convenience chain McColl’s after both made a last-ditch improvement to their bids
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NewsMedia Bites 9 May: McColl’s, Cost of living, Lottery
Morrisons has tabled a last-gasp bid to wrest McColl’s Retail Group from the clutches of its Asda-owning rivals just hours before administrators are formally appointed to oversee its sale
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NewsCity News: Just Eat Takeaway.com: from bad to worse as senior team departs
The beleaguered group’s chair Adriaan Nühn agreed to step down ahead of what was expected to be a stormy AGM in Amsterdam on Wednesday
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NewsMcColl’s falls into administration after rescue talks fail
Convenience chain McColl’s has fallen into administration after failing to agree a financing package to ensure its survival
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NewsCity snapshot: McColl’s ‘increasingly likely’ to fall into administration
Beleaguered convenience chain McColl’s has admitted it is on the brink of administration as rescue talks to save the group come to a head
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NewsMedia Bites 6 May: McColl’s, Pig farming/Tesco, Ocado
The major consumer business story this morning is last night’s news that convenience chain McColl’s is teetering on administration
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NewsBleiker’s Smokehouse under investigation for food fraud as it enters administration
The North Yorkshire-based smokehouse was previously a supplier of fish products to major UK supermarkets but it is now under investigation by the National Food Crime Unit
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NewsCity snapshot: AB InBev posts volume growth despite price hikes
The world’s largest brewer AB InBev has posted first quarter growth of 11.1% driven by price increases and volume recovery
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NewsMedia Bites 5 May: Just Eat Takeaway.com, Cost of living, Ocado
Shares in Just Eat Takeaway.com fell 7% on Wednesday after the company revealed it was investigating a complaint against one of its top executives and that its chair was stepping down
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NewsOcado executive pay policy survives investor revolt at AGM
Ocado today saw almost 30% of shareholders vote against an executive pay policy which could reward CEO Tim Steiner with £100m over the next five years
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NewsJohn Lewis Partnership to relaunch Rewards credit card programme
The financial service rewards customers with 1.25% back on every pound spent at John Lewis and Waitrose
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NewsCity snapshot: April supermarket sales continue to slow as shoppers rebalance basket spend
UK supermarket sales fell 1.8% over the four weeks to 23 April, according to NielsenIQ, albeit spending during the Easter period helped lift sales from the 4.1% slump seen in March
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NewsMedia Bites 4 May: Morrisons, BrewDog, Business rates
The UK’s competition regulator is set to approve the acquisition of supermarket group Morrisons by Clayton, Dubilier and Rice in early June after the private equity group offered to sell 87 petrol stations
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NewsUK profit warnings spike as spiralling costs hit consumer industries
The number of profit warnings issued by UK-listed companies so far in 2022 has jumped 44%, with the beleaguered retail and consumer sectors amongst those worst hit by spiralling inflation
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NewsValeo enters North America with Canadian maple syrup acquisition
Valeo Foods has expanded its footprint into North America by agreeing a deal to buy Canada-based maple syrup producer Les Industries Bernard & Fils
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NewsCity snapshot: McColl’s to request suspension of shares
Troubled convenience store chain McColl’s is to request a suspension in trading of its shares after announcing it will fail to publish its annual accounts by the stock market deadline
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NewsMedia Bites 3 May: EG Group, Reckitt Benckiser, Ocado, Lord Rose
The billionaire owners of Asda are in talks to sell their forecourt empire EG Group to a Canadian convenience store giant in a deal that could value it at around £13bn