Finance news – Page 207
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NewsCity snapshot: Healthy snacking brand Boundless nets £1m funding boost
The funding came from angel investors and high net-worth individuals to boost its expansion into Europe and the Middle East.
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NewsMedia Bites 17 July: Dave Lewis, Heineken, Pizza Express
Tesco boss Dave Lewis has said the UK’s food strategy and standards cannot be left to the market
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NewsGroceries Code Adjudicator still needed and ‘highly effective’, says review
The GCA will be maintained with funding to continue policing the code, according to the statutory review
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NewsHeineken sales slump 16% amid €550m coronavirus writedown
Global brewer Heineken has reported a 16% first half revenue slump amid “unprecedented volatility and uncertainty” caused by the coronavirus outbreak.
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NewsMedia Bites 16 July: Dobbies Garden/Sainsbury’s, Amazon/Deliveroo, VAT cuts
Dobbies Garden Centres inks a deal to stock Sainsbury’s food, rival delivery firms warn against Amazon tie-up with Deliveroo and some high street food chains vow to pass on VAT cuts to customers through lower prices
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NewsElla’s Kitchen continues to ‘outperform’ babyfood market despite pandemic
The Hain Celestial-owned brand reported revenues for the year ended 2019, up to £73.4m from £70.6m the prior year
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NewsCity Snapshot: Finsbury Food Group sales fall on coronavirus impact
The listed bakery manufacturer has guided for revenues in the year ended 27 June to be £306.3m, down from £315.3m last year
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NewsMedia Bites 15 July: Ocado, Oatly, Loop/Tesco
The boss of Ocado has declared that shoppers “won’t be going back” after the crisis spurred a rapid shift to online shopping and pushed its half-year sales above £1 billion for the first time.
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NewsLoop packaging platform makes UK debut in partnership with Tesco
Loop sorts and cleans the empty containers “to stringent health and safety standards” for reuse, before they are refilled by suppliers
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NewsFever-Tree buys German distributor Global Drinks Partnership
Global drinks mixer firm Fever-Tree has announced the acquisition of Global Drinks Partnership, the group’s sales agent in Germany, in a package worth €9.5m.
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NewsAldi doubles size home delivery trial with Deliveroo
They include branches in Greater Manchester and Cambridge, along with five more stores in London
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NewsWilko appoints Karen Mackay as group chief financial officer
Mackay joins the home and garden chain from Optegra International, where she has been group chief financial officer for five years
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NewsCMA drops convenience stores from pandemic price gouging investigation
A pharmacy is now at the centre of the CMA’s only remaining investigation into excessive pricing during the pandemic
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NewsCity snapshot: Ocado first half retail sales top £1bn but pre-exceptional losses mount
Ocado has posted first half retail sales growth of 27.2% amid “unprecedented and sustained demand”, but its pre-exceptional losses rose by 64% to almost £80m amid mounting costs. Plus, Fever-Tree buys German distributor and updates on sales, McBride guides to better second half than expected and all the rest of the latest news from the City.
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NewsMedia Bites 14 July: Face masks, Retail sales, Ocado
Face coverings will become mandatory in shops and supermarkets with fines of up to £100 for anyone who fails to adhere to the new rules
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NewsMighty Pea secures £1m funding in UK government Future Fund scheme
The company was one of a handful of brands to receive cash under the Future Fund, with only about 10% of applications having been accepted so far
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NewsWarburtons partners with Mission Ventures to support next generation of baking businesses
Batch Ventures combines equity funding and hands-on support from entrepreneurs and industry professionals to help the selected cohort of businesses grow and succeed
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NewsRetail footfall slumps 57% in June despite reopening ‘spike’
Retail footfall remained at historic lows in June, but it experienced ‘signficant’ improvement after the ‘turning point’ of the reopening of non-essential retail stores in mid-June.
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NewsMedia Bites 13 July: Asda, Tesco, ABF
The UK’s highest court will today begin hearing one of the country’s biggest ever equal pay cases over a claim brought by more than 43,000 supermarket workers against US-owned Asda
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NewsC&C Group shares boosted by appointment of new CEO David Forde
Forde, currently Heineken’s UK MD, will join the FTSE 250 brewer and wholesaler “no later than early 2021”