Finance news – Page 194
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NewsOnly 10 to 15 forecourts at risk in Asda-EG Group deal, claim experts
The number of forecourts at risk in a CMA review of the Asda buyout by EG Group’s owners barely reaches double figures
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NewsCity snapshot: CMA clears brewing merger between Marston’s and Carlsberg
The UK competition regulator has cleared the £780m merger of Marston’s and Carlsberg’s UK brewing operations. Plus UK GDP growth slows to 2.1% in August and all the rest of the latest news in the City.
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NewsMedia Bites 9 Oct: Food standards, Tobacco, Tim Hortons
The UK government is set to reject legal measures to uphold food standards in future trade deals
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NewsCity snapshot: Imperial Brands sees consumers turn to tobacco during Covid crisis
Imperial Tobacco said it has seen stronger than expected tobacco sales volumes during the coronavirus crisis as consumers in Europe and the US have shifted spend to tobacco products.
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NewsInsect protein startup raises $372m to fund world’s largest insect farm
The new capital will fund completion of an insect farm in Amiens, France in early 2022
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NewsMedia Bites 8 October: Tesco, Ferrero/Fox’s, Greene King
There is a wealth of coverage for Tesco’s half-year results across all the papers today.
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NewsNutri-Genetix seeks £150k from the crowd to expand DNA nutrition brand
Nutri-Genetix, which claims to have developed the world’s first genetically personalised nutrition shake, has launched a crowdfunding pitch to raise £150,000.
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NewsTate & Lyle CFO Imran Nawaz becomes Ken Murphy’s first major Tesco hire
Murphy said there had been an “extensive search” to find the right successor to Alan Stewart
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NewsFerrero acquires Fox’s Biscuits from 2 Sisters for £246m
Ferrero has snapped up Fox’s Biscuits from 2 Sisters Food Group for £246m to add to its growing biscuit portfolio across the world.
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NewsMedia Bites 7 Oct: Tesco, Ocado, Deliveroo
Tesco will complete the overhaul of its top executive team by raiding Tate & Lyle to recruit its new finance chief
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NewsCity Snapshot: Tesco sales soar during pandemic but £553m Covid costs drag on profits
Sales at Tesco soared 6.6% in the first half to £26.7bn as shoppers relied more heavily on supermarkets during the coronavirus pandemic, but costs also ballooned to weigh on profits. The supermarket also announced Tate & Lyle CFO Imran Nawaz as its news chief financial officer.
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NewsDanone to sell remaining €500m stake in Yakult
French food conglomerate Danone has announced plans to sell its remaining 6.6% stake in probiotic yoghurt brand Yakult to strengthen its balance sheet.
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NewsClean Liquor Co rebrands ahead of major NPD push and US debut
It secured a £7m cash injection which it will spend on marketing, new products and US expansion
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NewsCity snapshot: Premier Foods redeems £40m of bonds amid ‘strong’ trading
Premier Foods has bought back £40m of corporate bond notes due to continued strong trading momentum in the first half of its financial year. Plus, Glanbia annonces new chairman and all the rest of the latest news from the City.
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NewsMedia Bites 6 October: Ferrero/Fox’s Biscuits, Hovis, Greencore
Italian confectionery giant Ferrero could announce a £250m deal for Britain’s Fox’s Biscuits as soon as this week
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NewsItalian food group Newlat enters £100m race for Hovis
Listed Italian food group Newlat Food has confirmed to the stock market it has made an offer to buy UK bakery brand Hovis
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NewsCrowdcube and Seedrs to merge in crowdfunding consolidation
Crowdfunding platforms Crowdcube and Seedrs have agreed a merger, creating one of the world’s largest private equity marketplaces
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NewsAround Noon expands into healthy ready meals with Simply Fit Food deal
Northern Irish food-to-go supplier Around Noon has acquired healthy ready meal maker Simply Fit Food in attempt to diversify its offering after the coronavirus pandemic hit the sandwich market.
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NewsOlly’s lands £500k investment to push NPD after lockdown sales surge
The half a million-pound sum came mostly from an angel investor with an fmcg background
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NewsCity Snapshot: Profits slump at Greencore but demand for food-to-go returning
Profits have slumped 40% at Greencore as the coronavirus crisis pushed up costs and saw revenues nosedive, but food-to-go demand started to return in the fourth quarter. And Italian food group Newlat Food has proposed an acquisition of bread maker Hovis.