Finance news – Page 170
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NewsMedia Bites 14 April: Sainsbury’s, Just Eat Takeaway, John Lewis
A billionaire Czech investor has launched a raid on Sainsbury’s sparking speculation it could be targeted in a deal to take it private
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NewsCity snapshot: Tesco profits sink by 28% as Covid costs bite
Profits at Tesco have plunged by more than £700m despite sales rocketing as the supermarket incurred Covid-related costs of almost £900m. Plus, Tesco appoints the CEO of Kingfisher and a former Sainsbury’s chief digital and marketing officer to its board.
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NewsCity snapshot: Home-focused goods growth help retail sales recover in March
Retail sales continued to recover in March, though this recovery was centred on specific ‘home centric’ categories as most sectors remain in significant decline
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NewsMedia Bites 13 April: Lockdown, rapid grocery delivery, Cake Box
The main focus in the papers this morning is the reopening of non-essential shops, beer gardens, hairdressers and gyms as lockdown begins to ease.
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NewsMedia Bites 12 April: Asda, Online grocery, Retail reopening
Senior staff are preparing to stage an exodus at Asda after receiving final payouts from a Walmart share scheme
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NewsCity snapshot: Record year for Cake Box despite Covid disruption
Cake retailer Cake Box is set to report a record year despite the challenges of ongoing lockdowns throughout 2020 and 2021. Plus, drinks ingredients group Treatt updates the market on first-half trading and Russian food retailer X5 acquires a dark kitchen operator.
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NewsBuckfast warns of slowdown despite sales passing £50m
Newly filed accounts for Buckfast distributor J Chandler & Co said momentum had slowed in 2020/21
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NewsHilton Food Group comes out on top with pandemic sales soaring
The multi-protein group reported a 53% surge in annual revenues off the back of the shift to home cooking during the pandemic
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NewsCity snapshot: UK retail industry sees green shoots of recovery in March
The UK retail industry saw the green shoots of recovery in March as sales jumped by more than 40% year-on-year after a COVID-induced collapse a year ago. Plus, footfall begins to improve ahead of retail re-opening next week and all the latest news from the City.
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NewsMedia Bites 9 April: The Co-op, Morrisons, M&S
The boss of the Co-operative Group has defended keeping £65m of taxpayer support despite its profits rising 429% last year and increasing bonuses for bosses
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NewsCo-op won’t pay back business rates relief due to ‘disproportionate Covid costs’
It claimed it incurred a disproportionate increase in costs associated with coronavirus measures compared to larger supermarkets
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NewsThe Vegan Kind secures £3.5m investment amid plant-based boom
The company said the investment was the biggest ever funding round for a vegan retailer in the UK
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NewsVibrant Foods acquires Fudco as South Asian food portfolio grows
The family run London business complements Vibrant’s existing portfolio of ethnic brands, expanding its plant-based offering and strengthening its consumer reach.
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NewsCity snapshot: Norwegian grocery delivery business Oda raises €223m to drive European expansion
Norwegian e-grocery business Oda has raised €223M to fund territorial expansion in a funding round led by SoftBank and tech investor Prosus.
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NewsMedia Bites 8 April: Deliveroo, Co-op, Heineken
Deliveroo’s shares perked up on their first open day of trading, although the improvement was clouded by a strike by hundreds of its delivery riders.
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NewsFurlough and redundancies spark food ‘lockdown-preneur’ boom
The new business boom comes after UK unemployment rose to a record high of 5.1% in December
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NewsMedia Bites 7 April: Deliveroo, Retail/pub re-openings, UK economic growth
UK Deliveroo riders are expected to strike over pay and conditions as unconditional trading commences in the company’s shares
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NewsCity snapshot: Retailers celebrate sweet Easter as shoppers stock up on chocolate
Shoppers treated themselves as lockdown restriction began to ease in the run up to Easter, spending £439m on chocolate and sweets over the last month, according to the latest data from NielsenIQ. Plus, the increase in home cooking boosts Hilton Food Group in 2020.
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NewsUK-based CBD group Tenacious Labs launches with US acquisition
A UK-based global CBD group has launched today with the acquisition of a US direct-to-consumer operator and the promise of more acquisitions to come
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NewsCity Snapshot: UK retail sector loses almost 190,000 jobs during coronavirus outbreak
News of almost 190,000 UK retail job losses since first lockdown comes as Prime Minister Boris Johnson confirmed yesterday that non-essential shops will re-open on 12 April