Finance news – Page 137
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NewsMedia Bites 2 December: Omicron, Selfridges, Seedrs, Pets at Home
The Omicron coronavirus variant threatens to intensify imbalances that are slowing growth and raising costs, the OECD said on Wednesday as it significantly increased its inflation forecasts from three months ago.
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NewsO’Brien Fine Foods eyes UK expansion with Bearfields of London acquisition
Bearfields supplies cooked and raw ham to customers, including Lidl and Costco, as well as pub and café groups, catering businesses and independent retailers
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NewsSeedrs snapped up by US fintech firm Republic in $100m deal
Republic said it expected the deal with Seedrs to lead to new innovations and products for European investors and private businesses
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NewsMedia Bites 1 Dec: Inflation, Christmas Retail, Sainsbury’s
British households are facing a more expensive Christmas shop after labour shortages and surging costs pushed retail prices higher
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NewsCity Snapshot: Food prices soar in November and set to get worse over Christmas - BRC
Shoppers are likely to pay more for their Christmas dinner this year as food prices rocketed to their highest levels in more than a year.
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NewsEG Group hails performance of foodservice brands in Q3
Revenues at EG Group soared more than 20% in the third quarter thanks to its growing foodservice business
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NewsCity snapshot: Greencore returns to profit on food to go recovery
Food to go specialist Greencore has returned to profit as revenues recovered due to the relaxation of Covid restrictions. Plus, updates from Treatt, Marston’s and all the rest of the latest news from the City.
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NewsMedia Bites 30 November: AG Barr, Asda, Omicron variant, SSP Group
AG Barr, Asda and the new Covid variant all come under the media glare this morning.
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NewsIrn-Bru maker AG Barr’s shares fizz higher on profits upgrade
The group continued to benefit from the return of trading with the hospitality industry and consumers drinking out of the home again.
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NewsOne Stop reports 10.7% pre-tax profit slide but revenue spikes
As of February, store numbers were back in growth across its company-owned estate at 701 sites
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NewsMedia Bites 29 Nov: Asda/EG Group, Black Friday, Gail’s Bakery
The billionaire Issa brothers are weighing up a merger of Asda and their petrol station business EG Group, which would value the combined business at £26bn
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NewsCity Snapshot: McColl’s expands Morrisons Daily conversion programme
Embattled McColl’s Retail Group has agreed an extension with wholesale partner Morrisons to convert a further 100 of its stores to the Morrisons Daily fascia. Plus, AG Barr upgrades full-year profit expectations as recovery continues.
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NewsCity News: Market cautious on Cranswick despite first-half sales growth
Meat giant Cranswick brushed off falling sales of its core pork products this week to post first-half sales growth thanks to category expansion, but investors remain wary of butcher shortages, capacity constraints and falling sales to China.
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NewsInflation and supply chain chaos slowing M&A activity
The uncertainty around ongoing pricing negotiations with retailers, availability of labour and difficulties sourcing packaging have led to buyers becoming more cautious
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NewsTonic wine Buckfast hits the buffers as Covid dampens demand
Newly filed accounts for Buckfast distributor J Chandler & Co show sales reversed by 10.8% in the year to 31 March 2021
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NewsKitwave profits better than expected as Covid recovery gains momentum
Kitwave has upgraded profit expectations as trading recovered to pre-pandemic levels and the wholesaler escaped the worst of the HGV driver crisis
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NewsCity Snapshot: Stocks crash on fears over new South Africa Covid variant
Food-to-go grocery stocks are amongst those shares that have plunged this morning on fears that a new Covid variant could lead to new restrictions on leisure and travel to mitigate its spread
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NewsMedia Bites 26 November: Huel, alcohol/crisps shortages, Greencore, Rémy Cointreau
The plant-based meal replacement maker Huel has hired bankers to advise on an initial public offering in London after a surge in popularity for its products in the pandemic fitness boom.
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NewsPatrick Coveney leaves Greencore to join SSP Group as CEO
Greencore CEO Patrick Coveney is to leave the food-to-go specialist to take the reins at SSP Group
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NewsSports nutrition brand KBF Enterprises plans £1.5m expansion
The investment in its production capabilities would allow it to produce 150,000 snack bars per day, or 54 million per year, said KBF