Finance news – Page 186
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NewsMedia Bites: Asda, Grocery sales, Retail evictions
The competition watchdog is investigating the £6.8bn takeover of Asda
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NewsCity snapshot: Tesco investors set for £5bn payout as Asia sale readies for completion
Tesco, which last week announced it was returning £585m of business rates relief, has this morning confirmed the $10.6bn sale of its businesses in Asia and a special dividend payment of £5bn. Plus, a pre-close trading update from British American Tobacco, and Nestlé Purina PetCare is set to invest $550m to expand its petfood manufacturing facility in Georgia, creating up to 130 jobs.
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NewsNomad Foods upgrades 2020 expectations as sales soar in second lockdown
Sales at Birds Eye owner Nomad Foods have rocketed once again as locked down shoppers continued to stock up freezers as they ate all their meals at home in November.
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NewsCMA launches probe into Asda takeover by Issa brothers
The proposed £6.8bn takeover by brothers Mohsin and Zuber Issa was announced in October
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NewsWholesaler Parfetts sees annual turnover leap 26% to £474m
Parfetts has also added 150 stores to its Go Local symbol group this year, taking it to 650 in total
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NewsCity snapshot: Second lockdown boosts pre-Christmas grocery sales
Grocery sales spiked in November by 13.9% as eating and drinking out of home was restricted by the English national lockdown to boost the industry in the run-up to Christmas.
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NewsMedia Bites 8 December: Brexit, Kingfisher, The Hut Group
Business leaders and unions have heaped renewed pressure on the government to strike a last-minute Brexit agreement, saying the UK economy is ill-equipped for a disruptive no-deal scenario.
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NewsCooplands looks to growth after £7.7m BGF investment
Northern bakery chain Cooplands has secured a further £7.7m investment from the Business Growth Fund.
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NewsAmazon to repay business rates relief on Whole Foods Market stores
The sum being paid back will total £2,047,471, according to analysis by Altus Group
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NewsCity snapshot: B&Q owner Kingfisher joins flurry of retailers returning business rates relief
Screwfix and B&Q owner Kingfisher has joined the flood of retailers to hand back business rates relief received during the coronavirus pandemic. Plus, a trading update from The Hut Group and Mike Ashley’s Frasers Group confirms Debenhams rescue talks.
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NewsMedia Bites 7 Dec: Nando’s, Business rates, Christmas turkeys
Nando’s is in crisis talks over its debt pile after spending £20m to make its UK restaurants Covid-secure, raising £100m from shareholders.
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NewsIt’s All Good explores sale as tortilla chips demand soars
The Gateshead-headquartered supplier has been backed by PE firm NVM since 2014 following a £3.5m minority investment
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NewsFarmison & Co growth rockets 550% as mutton sales soar
Turnover is expected to more than double to £12m in the year to end of March 2021
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NewsAt-home demand for gin helps Chase Distillery offset on-trade collapse
The company, which was snapped up by Diageo in October, experienced “very strong” growth with retail partners
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NewsContract loss and coronavirus hit profits at Branston maker Mizkan Euro
The maker of Branston pickle and Sarson’s vinegar has posted a sharp rise in pre-tax losses, amid mounting cost inputs and the loss of a private label contract.
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NewsCity snapshot: Second lockdown costs ABF £430m in lost sales
A second wave of coronavirus lockdowns has cost Associated British Foods £430m in lost sales, as Primark stores have closed across Europe. Plus, Pets at Home the latest retailer to pay back business rates relief and all the rest of the latest news from the City.
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NewsMedia Bites 4 Dec: Business rates repayments, Rates reform, Brexit
The UK’s five biggest supermarkets and the discount chain B&M will repay £1.8bn in business rates relief after intense criticism of food retailers
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NewsSupermarkets pay back £2bn in business rates as Tesco move sparks chain reaction
Sainsbury’s and Aldi confirmed today that they would pay their business rates this year
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NewsCity Snapshot: Sainsbury’s to hand back £440m of business rates relief
Sainsbury’s has joined Tesco and Morrisons in handing back its business rates relief, which will cost the supermarket around £440m
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NewsMedia Bites 3 December: Tesco, lab-grown meat, High Street
News that Tesco has repaid £585m of business rates relief dominates the papers today.