Finance news – Page 188
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NewsCity snapshot: Nestlé agrees sale of China-based peanut milk brand Yinlu
Nestlé has agreed to sell its China-based Yinlu peanut milk and canned rice porridge businesses to Food Wise Co for an undisclosed sum
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NewsMedia Bites 25 November: Business rates row, Pets at Home, AO.com
Retailers that paid out dividends after a boost in sales during lockdown are under growing pressure to hand back millions of pounds of taxpayer support after the boss of AO World said that executives “should go and ask their mum if she would be proud”.
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NewsCity snapshot: Greencore raises £90m as coronavirus impact drives annual loss
Greencore has raised £90m in a share placement as the impact of the coronavirus outbreak led to a double-digit drop in annual sales and a pre-tax loss of more than £10m. Plus, on the busy morning, trading updates from Cranswick, Compass Group, Pets at Home and all the rest of the latest news from the City.
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NewsMedia Bites 24 Nov: Brexit, Danone, Diageo
A no-deal Brexit would cause more long-term damage to the economy than the coronavirus pandemic, the governor of the Bank of England has warned.
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NewsCity Snapshot: Danone to cut global SKU count by up to 30%
French food group Danone is to cut its product range by up to 30% in a cost-cutting effort to return to profitable growth in 2021
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NewsMars blames virus outbreak for 2020 profit and sales slowdown
The coronavirus crisis exacerbated a tough 2020 for the UK arm of the company
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NewsLDC exploring sale of Hill Biscuits after investment boosts
The private equity firm has engaged Clearwater International to explore its options
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NewsMedia Bites 23 Nov: Gu Puds, ‘Junk Food’ Ads, Black Friday
Gu Puds, one of Britain’s best-known desserts brands, is being put up for sale by giant egg producer Noble Foods
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NewsCity Snapshot: Early Christmas shoppers boost October retail sales
Retail sales continued to rise in October despite the second wave of the coronavirus outbreak as early Christmas shoppers looked to beat renewed Covid lockdowns
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NewsMedia Bites 20 Nov: Coffee pods, PlayStation 5 launch, Naked Wines
The manufacturers of the UK’s three biggest coffee pod brands have joined forces to set up the sector’s first national recycling scheme, in the face of a backlash against single-serve capsules, many of which end up in landfill. Nespresso and Nescafé Dolce Gusto owner Nestlé and Tassimo ...
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NewsWholesalers Dovey Premium Products and Brookside Foods collapse in wake of lockdown
Two family-owned meat wholesalers have been forced to cease trading after suffering a business collapse during the pandemic
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NewsCity snapshot: Naked Wines sales soar as consumer discover online wine
First-half revenues at Naked Wines have soared 80% to £157.1m as consumers flocked to online as the coronavirus outbreak hit the UK. Plus Vimto maker Nichols is considering redundancies across its operations as the Covid pandemic continues to hammer the soft drinks market; European supermarket group Ahold Delhaize acquires online US grocer FreshDirect, and a trading update from Finsbury Food Group.
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NewsMedia Bites 19 Nov: Coca-Cola/Schweppes, Inflation, Northern Ireland foods
Coca-Cola has quietly pulled the plug on its posh tonic as Schweppes 1783 has been scrapped
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NewsPremium dog food brand Edgard & Cooper secures £16.5m to back European growth
The Belgian brand has received backing from international investors The Craftory and DLF Venture
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NewsQueen’s ham supplier Dukeshill Ham Co bought by PE player GC Investment Partners
Neale and Sarah Hollingsworth, who have led the fine foods business since 1998, will remain with the business and work alongside the new owners
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NewsCity snapshot: Delayed harvests hit revenues at Origin Enterprises
International agri-services group Origin Enterprises has experiences a double-digit revenue drop in the first quarter as delayed harvests hit revenues. Plus, Wynnstay upgrades full year profit expectations, British Land loses £730m and all the rest of the latest news from the City.
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NewsMedia Bites 18 November: Asda, Unilever, Imperial Brands
Shoppers are stocking up on festive groceries earlier than ever with Asda reporting a surge in frozen turkeys and “lockdown proof” items alongside a slowdown in quarterly sales.
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NewsAB InBev plans integration of Camden Town Brewery in big shake-up
Founder Jasper Cuppaidge will step back from the business into a consultant role, while CEO Adam Keary will leave in March
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NewsCity snapshot: Profits and sales rise at Imperial Tobacco as lockdowns boost tobacco consumption
Imperial Tobacco has posted a rise in annual sales and profits despite a collapse in duty-free travel sales as coronavirus lockdowns have boosted at home tobacco consumption.
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NewsMedia Bites 17 November: Walmart, Pret, Hut Group, Mitchells & Butler
Walmart has agreed to sell a majority stake in its Japan supermarket chain Seiyu in the latest move by the world’s biggest retailer to reshape its footprint outside the US (The Financial Times £). Private equity group KKR will acquire 65% and Japanese ecommerce company Rakuten will ...