Finance news – Page 179
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NewsMedia Bites 9 Feb: Household spending, hospitality, Brexit
UK consumer spending and retail sales fell in January at the fastest pace since May, suggesting the economy has been hit harder by the current lockdown than November’s restrictions despite people switching to online shopping.
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NewsCity snapshot: Lockdown drives sales boom at Ultimate Products
Ultimate Products has raised its expectations for the year as the boom in online shopping and supermarkets during lockdown continues to benefit the consumer goods group. Plus, Cake Box opens 150th store.
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NewsMedia Bites 8 Feb: Business rates, Amazon, UK/EU trade
Tesco, Morrisons and Waterstones are among companies that have urged chancellor Rishi Sunak to ’level the playing field’ between bricks-and-mortar stores and online retailers
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NewsCity News: Unilever’s shrinking margins cause concern despite growth
At first glance, there was plenty to like about Unilever’s full-year results on Thursday
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NewsPeak Rock Capital invests in packaging firm AMB
Private equity investor Peak Rock Capital has acquired Italian packaging specialist AMB alongside the company’s founders, current owners and management team
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NewsShelf prices fall as supermarkets brush off import cost concerns
Supermarkets have avoided passing on any extra costs incurred from importing goods into the UK, The Grocer Price Index has suggested
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NewsM&A deals rebound in fourth quarter as COVID freeze thaws
Food and drink M&A rebounded sharply at the end of 2020 as pent-up demand, optimism over post-coronavirus economic recovery and potential tax hikes encouraged deal activity
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NewsVirtual wine cellar Drop raises £300k
Virtual wine cellar start-up Drop has surpassed its £300k crowdfunding target as drinkers turn to home delivery in greater numbers during lockdown
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NewsCity snapshot: UK retail sales drop 10% in January, BDO finds
UK retailers recorded their worst January on record and the worst month for the high street since June as a national lockdown shuttered shops across the country
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NewsMedia Bites 5 Feb: Unilever, Compass Group, Food exports
Attempts by Unilever to ’sharpen’ its strategy amid sluggish growth failed to impress investors yesterday
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NewsJack & Bry secures £1.3m investment as demand for plant-based meats soar
The start-up plans to use the cash to invest further in artificial intelligence technology to help it develop more jackfruit products and ingredients that closely mimic the texture of meat using a proprietary manufacturing process.
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NewsCity snapshot: Unilever restores growth targets after end of year sales acceleration
Unilever’s sales growth accelerated at the end of its financial year, enabling it to restore its long term growth targets. Plus, trading updates from Compass Group, Cranswick and Stock Spirits, PayPoint completes acquisition and all the rest of the latest news from the City.
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NewsMedia Bites 4 Feb: Asda/EG Group, Amazon, carbon tax
The finance structure of the £6.8bn takeover of Asda by the Issa brothers and TDR is under the media spotlight this morning.
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NewsCity snapshot: EG Group to buy Asda forecourts for £750m
The Issa brothers and TDR capital have announced a financing package to underpin their £6.8bn acquisition of Asda from Walmart, which includes plans to sell the supermarket’s forecourts business and certain distribution assets. Plus, Jeff Bezos to step down at Amazon and all the rest of the latest news from the City.
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NewsMedia Bites 3 Feb: Amazon, Nestlé, Kantar
Amazon CEO Jeff Bezos, who founded the company in 1994, will step down after ecommerce giant recorded $100bn in sales for last three months of 2020.
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NewsCity snapshot: Lockdown helps supermarket sales growth to accelerate in January
The UK-wide coronavirus lockdown has spurred further growth in take home grocery sales during January, as shoppers spent £1bn more on supermarket food year-on-year during the month
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NewsMedia Bites 2 Feb: Marston’s, whisky, Amazon
Marston’s has rejected a £693m offer from the Beverly Hills-based private equity group Platinum Equity on the basis that it “significantly undervalues” the business.
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NewsJW Filshill acquires Eldorado Wines as it eyes growth through diversification
The new business stream will operate under a subsidiary, Differentiator Brands
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NewsAvara Foods enjoys solid growth despite pandemic challenges
The poultry giant saw turnover climb by 5.6% in its latest accounts, while pre-tax profit rose 14.3%
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NewsCity snapshot: Gusbourne DTC sales soar during lockdown
Revenues at English sparkling wine producer Gusbourne have fizzed higher as drinkers ordered more from the company’s own website during lockdowns. Plus, Coca-Cola European Partners received clearance from Australian competiton watchdogs for its acquisition of Coca-Cola Amatil.