Finance news – Page 146
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NewsCity Snapshot: CD&R wins £7bn Morrisons takeover auction
US private equity firm Clayton, Dubilier & Rice prevailed in the one-day auction for Morrisons over the weekend
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NewsMedia Bites 4 Oct: Morrisons, Tesco, Pig cull
Private equity giant Clayton, Dubilier & Rice is poised to buy Morrisons for £7 billion after emerging victorious from a three-month bidding war for the supermarket chain
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NewsHovis falls to takeover-driven pre-tax loss despite revenue uptick of 8%
Hovis revenues were up 8% in 2020 to £360.7m despite the ‘highly competitive’ nature of the wrapped bakery category
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NewsFood shortages cost big four supermarkets £2bn in lost sales
The cost is expected to increase further in the run up to Christmas
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NewsCity snapshot: Greencore fourth quarter sales back above pre-Covid levels
Greencore has seen further recovery in its fourth quarter to take revenues back above pre-Covid levels and full year operating profits at the upper end of expectations
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NewsMedia Bites 1 October: Fuel crisis, Furlough, Sainsbury’s
There has been no improvement in petrol supplies at independent petrol stations since Wednesday, according to industry body the Petrol Retailers Association
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NewsMedia Bites 30 September: Caffè Nero, Morrisons, SSP Group, fuel crisis
A High Court judge has dismissed an attempt to overturn the restructuring of Caffè Nero, in a ruling that in effect kills off the takeover hopes of Asda and Euro Garages owners Mohsin and Zuber Issa.
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NewsCity snapshot: Diageo points to margin recovery as hospitality sector reopens
Diageo has said it has made a ‘strong start’ to its financial year, forecasting an improvement in operating margins despite supply chain constraints. Plus, Parsley Box warns on sales and profits and all the rest of the latest news from the City.
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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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NewsWelsh milk to be bottled in Wales with launch of startup Pembrokeshire Creamery
The business, which is backed by the directors of veg supplier Puffin Produce, hopes to start bottling next year
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NewsPilgrim’s drives Tulip back to black in pork turnaround
US meat giant Pilgrim’s Pride has completed a turnaround of Tulip, with the pork supplier bouncing back into the black for the first time in years, according to newly filed accounts
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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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NewsMedia Bites 29 Sep: Fuel crisis, Unilever, Morrisons
Petrol stations will face disruption for up to a month even if people stop panic buying, industry figures have warned, despite ’tentative’ signs that the situation is starting to improve
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NewsFellow Creatures hits supermarket shelves after winning over plant-based investors
Vegan confectionery start-up Fellow Creatures has landed nationwide retail listings after securing six-figure backing from investors, including Veganuary founder Matthew Glover’s Veg Capital.
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NewsCity snapshot: AG Barr posts ‘record’ first half profits as out-of-home consumption rebounds
Irn-Bru maker AG Barr has posted record first half profits as the out-of-home soft drinks market rebounded, but warned second half margins will slide on rising costs.
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NewsMedia Bites 28 September: fuel crisis, Aldi, Patisserie Valerie
The growing fuel crisis dominates the front pages of the papers once again this morning.
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NewsCity Snapshot: Aldi to invest £1.3bn following record sales in 2020
Aldi has revealed plans to invest £1.3bn over the next two years in an attempt to grab a bigger share of the UK grocery market following sales hitting record levels in 2020.
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NewsMedia Bites 27 September: fuel shortages, Morrisons, Warburtons
The HGV driver crisis and the resulting shortages of fuel, turkeys, drugs are still making all the headlines in the weekend’s papers.
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NewsSneak energy drink disruptor sells majority stake to global PE house
The brand sells a range of sugar-free, clean-label powdered energy formulas and pre-mixed cans