Finance news – Page 174
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NewsCity snapshot: Danone ousts Faber for clean break
Danone has ousted chairman and CEO Emmanuel Faber as it continues to shake up the board following pressure from activist investors. Plus, Deliveroo revealed it would raise approximately £1bn of new money in its upcoming flotation on the London Stock Exchange.
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NewsMedia Bites 15 March: Danone, Pret/Tesco, High Street closures
Danone’s board of directors has decided to replace Emmanuel Faber as both chief executive and chairman, blowing up a two-week-old compromise
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NewsDeliveroo loss during favourable conditions raises City eyebrows
The UK-based online meal delivery giant said on Monday that surging demand for takeaways during 2020 had helped Deliveroo narrow losses
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NewsParsley Box kicks off IPO after pandemic boosts consumer take-up
The long-life ambient ready meals business for the over-60s has benefited from consumers turning to online meal providers
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NewsCity snapshot: Property giant Hammerson posts £1.7bn loss amid coronavirus slump
The UK’s biggest shopping centre owner Hammerson has posted a £1.7bn annual loss as the coronavirus pandemic has slashed the value of its portfolio and rental income plummeted.
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NewsMedia Bites 12 March: Morrisons, JLP, EU trade
Morrisons said it expected profitability to recover this year, despite profits halving due to the costs of the pandemic
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NewsVibrant Foods expands into chilled with acquisition of Everest Dairies
Vibrant was created in 2020 as a platform to consolidate the Asian and free-from markets
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NewsWyke Farms reports record turnover
The cheesemaker saw sales top £107m in the 12 months to 31 March
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NewsCovid profits plunge is a ‘badge of honour’ says Morrisons CEO Potts
Morrisons was hit by £290m of Covid-related costs and almost £40m to restructure its online business
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NewsMedia Bites 11 March: Just Eat, Deliveroo, Brexit, Amazon
The papers put Just Eat Takeaway’s results in the spotlight and weigh up the battle between rival delivery services such as Deliveroo.
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NewsCBD oil brand Dragonfly scales up with factory deal
CBD oil producer Dragonfly Biosciences has taken over full ownership of Premium Extraction Services, which runs a large-scale ethanol extraction facility.
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NewsMash Direct grows sales as shoppers look for health and convenience in lockdown
Mash Direct has continued to grow rapidly outside its domestic Northern Ireland market as consumers looking for a blend of health and convenience throughout the coronavirus pandemic turned to its range of prepared veg.
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NewsPepco Group simplifies board ahead of sale or float
The exercise emerged as Pepco Group COO Sean Cardinaal stepped down as a board director of Pepco’s holding company this week
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NewsMedia Bites 10 March: Petfood shortage, Anti obesity measures, Marks & Spencer
The rising ownership of cats and dogs during the lockdown has led to a run on pet food and warnings of a nationwide shortage of supplies
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NewsNix & Kix hits £500k crowdfunding target as it launches in US with Coke-backed distributor Iris Nova
The five strong-range of canned drinks will be distributed across the US by Coca-Cola-backed Iris Nova via its DTC platform.
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NewsCity snapshot: ‘Exceptional’ year for Just Eat as revenues soar during Covid pandemic
The world’s largest food delivery company saw orders accelerate for three quarters in a row in 2020, processing 588 million orders in the year, a 42% rise compared with 2019. Plus, Russian grocery retailer X5 Retail Group launches biometric tech to ’pay with a glance’ at its supermarkets in a move CEO Igor Shekhterman said would soon be universal.
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NewsMackie’s of Scotland performs well during pandemic as shoppers turn to home comforts of ice cream
Mackie’s of Scotland has held revenues at record levels despite the challenges presented by the coronavirus pandemic as shoppers treated themselves to ice cream and chocolate during lockdown.
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NewsSupermarket sales growth remains at its highest level since June 2020
UK supermarkets are continuing to see the highest industry sales growth since the summer of 2020 as booming online sales mitigated a small drop in physical stores.
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NewsMedia Bites 9 March: Deliveroo, Unilever, Morrisons, Sainsbury’s
The papers put Deliveroo in focus ahead of its highly anticipated £7bn London IPO.
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NewsFoodhub seeks £100m in its biggest fundraising round to date
The company plans to use the money to support its “bold” expansion plan, including further acquisitions overseas, expanding the global workforce and developing its offering.