Finance news – Page 205
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NewsMcDonald’s global profits tumble amid lockdown hit
Profits have tumbled more than 50% at McDonald’s in the second quarter as the peak of lockdown measures took a toll on the fast-food chain.
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NewsNational Food Strategy report calls for junk food taxes and more free school meals
The first part of the strategy was launched today by Leon co-founder Henry Dimbleby
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NewsGreggs targets supermarket concessions for growth post-Covid
Greggs has now reopened the vast majority of sites, including four concessions in Asda superstores
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NewsWalgreen Boots Alliance CEO Stefano Pessina to step down
Pessina will become executive chairman once a successor is found
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NewsCity snapshot: Reckitt brands clean up amid coronavirus demand spike
Sales and profits have soared at Reckitt Benckiser in the first half as hygiene-conscious consumers flocked to buy its disinfectant brands during the Covid-19 outbreak. Plus, on a busy morning trading updates from Greencore, AG Barr, Greggs and B&M and all the rest of the latest news from the City.
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NewsBidfood parent back in profit ahead of Covid-19 outbreak
Bidfood parent company BFS Group has bounced back into the black in its latest financial year, positioning the foodservice wholesaler in a stronger position ahead of the coronavirus outbreak.
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NewsMedia Bites 28 July: Amazon, Walgreens Boots, Online sales tax
Amazon is to offer free grocery delivery to millions of customers in a massive expansion of the company’s Fresh food network, throwing down the gauntlet to traditional supermarkets
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NewsFood and drink deals decline but activity still ‘surprisingly high’
UK food and drink dealmaking slumped in the second quarter, but the sector continued to see a “surprisingly high” level of activity given the economic disruption caused by the lockdown.
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NewsSupermarkets under pressure to drop JBS following Amazon deforestation allegations
JBS has been linked to a Brazilian beef farm with land allegedly under embargo for rainforest destruction
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NewsUnilever sales resilience shows ‘true strength’ says Alan Jope
The first half showed “the true strength of Unilever” according to its CEO Alan Jope, as a surge in eating at home propelled the consumer giant above market expectations.
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NewsCity snapshot: Supermarket Income REIT buys £61m Tesco store
Grocery property investor Supermarket Income REIT has bought a £61m Tesco superstore and agreed a new £60m lending facility to support future acqusitions.
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NewsMedia Bites 27 July: Anti-obesity measures, UK economy, Walmart/Asda
Food manufacturers have attacked Boris Johnson’s proposed anti-obesity measures, arguing a key plank of reforms set to be unveiled next week will prove expensive, ineffective and stifle innovation.
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NewsArgent Foods profits hit by poor weather and operational issues
The London-based food group saw group EBITDA fall by 22%, from £16.3m to £12.7m for the 12 months to 31 December 2019
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NewsAldi and Tesco set for another scrap over Price Match campaign
The Grocer understands tensions are running high between the retailers after Tesco launched a heavyweight marketing campaign in support of its Aldi Price Match strategy
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NewsRetail sales bounce back to pre-lockdown levels
UK retail sales grew 13.9% in June compared to the previous month, with sales now back up to pre-lockdown levels driven by strong food sales growth.
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NewsMedia Bites 24 July: Unilever, Junk food ads, Face masks
Unilever has become the most valuable company on the FTSE 100 after a better than expected trading update sent shares in the Anglo-Dutch consumer goods group soaring.
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NewsConvenience sales growth leads to spike in property market activity
Christie & Co said buyers were returning to the market and actively seeking out business opportunities
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NewsMost supermarkets will encourage staff to wear masks from Friday
While current government guidance does not make it mandatory for shopworkers to wear coverings, many retailers are actively encouraging their use
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NewsUnilever shows ‘true strength’ to weather coronavirus crisis
Unilever has posted broadly flat organic sales and improve profits in the first half of the year in a performance that shows “the true strength of Unilever” according to its CEO.
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NewsJuicy Jerk launches accelerator fund to support black-owned food businesses
The accelerator will offer cash grants up to £1k as well as mentoring, support and masterclasses