Finance news – Page 143
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NewsCity Snapshot: Tesco website back online after weekend cyber attack
Tesco has fixed the issues plaguing its website and app over the weekend, with the online service back up and running again today.
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NewsNestlé leads the pack of consumer giants growing despite inflation
Global fmcg players proved this week mounting inflation is not necessarily a barrier to growth, but warned that consumers will have to get used to higher prices
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NewsKanes Foods reports £12m pandemic hit but says sales have bounced back
Salad bowl and prepared veg supplier Kanes Foods suffered a £12m drop as the pandemic ravaged the food-to-go sector, but is now trading above pre-Covid levels
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NewsLabour and supply chaos reflected by profit warning hike
Overall, 65% of consumer-facing profit warnings cited cost or supply issues in the third quarter
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NewsCity snapshot: Sainsbury’s scraps £200m sales process for banking arm
Sainsbury’s has announced it has halted talks around a possible £200m sale of its financial services arm. Plus, UK retail sales fall in September and Rémy Cointreau sales bounce back.
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NewsMedia Bites 22 Oct: Unilever, Just Eat Takeaway.com, Fuel crisis
Unilever has warned that inflation could worsen next year as raw material and energy costs push up the prices of its food, toiletries and cleaning products (The Guardian). Unilever pushed up prices for its products by more than 4% in the third quarter as the global consumer ...
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NewsCity snapshot: Unilever sales volumes fall as it hikes prices
Unilever’s underlying growth fell back to 2.5% in the third quarter as sales volumes fell back as the consumer giant hiked prices. Plus, Pernod Ricard rebounds on hospitality reopenings and all the rest of the latest news from the City.
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NewsMedia Bites 21 October: Nestlé, Asda/EG, THG, Deliveroo
Nestlé upgraded its full-year sales guidance for the second time after the world’s largest foodmaker pushed up prices for products from pet food to ice cream (The Financial Times £). The Lex column in The Financial Times (£) says “a focus on premium products should help Nestlé ...
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NewsOto soars past £2m crowdfunding target as it eyes global CBD growth
Health and wellness CBD brand Oto has smashed a £2m crowdfunding target as investors are increasingly attracted to the rapidly growing cannabidiol market
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NewsCity Snapshot: Nestlé enjoys ‘strong’ organic growth thanks to price hikes and return of OOH
Rising prices, continued elevated demand at supermarkets and a recovery in the out-of-home channel has helped Nestlé boost organic growth by 7.6% in the first nine months of 2021. Plus, Deliveroo updates on Q3; and UK inflation rate slows down in September.
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NewsMedia Bites 20 Oct: P&G, Morrisons, Gorillas
Procter & Gamble has said it will raise prices on more household goods, warning that supply chain costs would be higher than previously anticipated
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NewsMorrisons £7.1bn CD&R takeover wins backing from shareholders
Shareholders in Morrisons have given the all-clear for the £7.1bn takeover by Clayton, Dubilier & Rice (CD&R) takeover to go ahead at a general meeting
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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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NewsMedia Bites 19 October: Tesco, Asda/EG Group, THG
Tesco is taking on Amazon as it opens its first checkout-free store in central London, while Asda and EG call off sale of forecourts business.
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NewsDTC petfood specialist Butternut Box sees sales more than double
Dogfood subscription specialist Butternut Box saw revenues surge by 114% to more than £23m last year
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NewsNorthern Monk triples production after seven-figure cash injection
The craft brewer has installed a BrauKon 60 hectolitre brewhouse with funding from HSBC, meaning it will be able to boost production capacity by 280%
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NewsCity Snapshot: THG boss gives up ‘golden share’
The Hut Group has announced it intends to remove the ‘golden share’ held by founder, CEO and executive chairman Matthew Moulding in an effort to restore City confidence after a disastrous few weeks for the company.
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NewsMedia Bites 18 Oct: THG, Morrisons, Impossible Foods
The founder of The Hut Group is poised to give up his “golden share” in the company after a sharp fall in its share price