Finance news – Page 158
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NewsCity snapshot: Sainsbury’s upgrades earnings on strong Q1 sales
Sainsbury’s has raised its full year profits expectations after posting growth in its first quarter despite ’exceptionally tough comparatives’.
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NewsMedia Bites 6 July: Morrisons, Sainsbury’s, Retail Footfall
The UK’s largest asset manager has warned that private equity firms must not be allowed to acquire Wm Morrison for the ‘wrong reasons’
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NewsCathedral City owner Saputo acquires Wensleydale Dairy Products in £23m deal
The acquisition of the Wensleydale Creamery owner follows Saputo’s purchase of Sheese owner Bute Island Foods in May
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NewsMedia Bites 5 July: Morrisons takeover, Sainsbury’s, Asda
The papers delve into the news that Morrisons has accepted a £6.3bn takeover offer from an investor consortium led by private equity firm Fortress
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NewsCity snapshot: Morrisons shares surge on prospect of bidding war
Morrisons shares have jumped more than 11% this morning on the prospect of a bidding war for the UK’s fourth largest grocer after it accepted a £6.3bn offer over the weekend.
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NewsVegan startup Planty surges past £200k crowdfund target
The Veg Capital-backed business is currently overfunding, having so far raised £355k from 350 investors
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NewsBrakes suffers £234m loss as Covid clobbers hospitality market
Wholesaler Brakes fell to a £234m loss last year as the coronavirus pandemic wiped out its hospitality sales at the end of its financial year
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NewsGosh close to £50m takeover as plant-based demand rises
The Grocer understands the supplier, which produces vegan falafel bites, burgers and sausages, has received an offer to take over the company
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NewsSamworth Brothers axes Sci-Mx sports nutrition business
AIM-listed Supreme Imports has acquired the rights to use the brand name
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NewsCity snapshot: Gosh closes in on £50m buyout
Free-from brand Gosh is close to sealing a £50m deal with a new owner after it revived a three-year long M&A process amid soaring demand for plant-based foods
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NewsMedia Bites 2 July: GSK, Haribo, ABF/Primark
An American hedge fund has called on GlaxoSmithKline to consider a sale of its consumer healthcare business
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NewsCity snapshot: ABF grocery sales fall but Primark recovery drives revenue jump
Associated British Foods has reported a 47% jump in third quarter revenues as the re-opening of Primark stores mitigated a modest decline in grocery sales. Plus, Supreme buys SCI-MX, trading updates from PZ Cussons and C&C Group and all the rest of the latest news from the City.
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NewsMedia Bites 1 July: Inflation, Morrisons, GB/NI border
Source: Thinkstock The Bank of England’s outgoing chief economist has given his starkest warning yet that the institution is not doing enough to control inflation, saying that “everyone would lose” if it had to execute an “economic handbrake turn” (The Times £). The Bank of England is ...
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NewsMedia Bites 30 June: Morrisons, Takeaway stocks, Staff shortages
The private equity suitor seeking to buy Morrisons should increase its offer to £6.5bn if it wants the takeover to succeed
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NewsCity Snapshot: Supermarket price war keeps lid on inflation fears
Food prices have fallen for a third month in a row as the supermarkets continue to fight it out to attract shoppers from rivals, according to new data. Plus, record full-year results for Cake Box; and Treatt CFO Richard Hope to retire after 20 years with the ingredients company.
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NewsCity snapshot: Grocery sales hold steady in June despite lockdown relaxation
Grocery sales remained largely unchanged in June despite the widespread reopening of pubs and restaurants, as Nielsen data shows the discounters regaining market share as shopping habits return to normal
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NewsMedia Bites 29 June: BrewDog, Greggs, Molson Coors
The co-founder of BrewDog is selling off personal property assets linked to the craft brewer ahead of a planned flotation amid concerns over potential conflicts of interest.
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NewsMolson Coors to add hard seltzer canning line as part of £25m brewery upgrade
The line will package the 4% abv Three Fold, launched earlier this year
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NewsThis secures biggest ever series A fundraise for UK plant-based brand
This plans to use the cash to support the rapid growth of the business, expand its R&D capabilities and bring to a pipeline of new products to the market.
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NewsCity Snapshot: Greggs sales recovery continues at stronger-than-expected pace
Greggs has continued to see customers flooding back to its stores in greater than expected numbers since the relaxing of coronavirus restrictions, the high street bakery chain said in an unscheduled trading update. Plus, Coca-Cola HBC acquires minority stake in premium Italian coffee company Caffè Vergnano.