Finance news – Page 212
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NewsCity snapshot: WH Smith sales soar on global travel recovery
WH Smith has seen a strong rebound and revenues and moved back into profit as travel retail sales rebounded amid the relaxation of Covid restrictions. Plus updates from Coca-Cola Europacific Partners, Gousto and Nichols.
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NewsMedia Bites 27 April: Reckitt Benckiser, Boots, Lidl
Reckitt Benckiser has begun a sale process for its baby formula business that could fetch $7bn to $10bn
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NewsCapVest to build new global snacking player with Second Nature Brands acquisition
Private equity player CapVest has acquired US-based better-for-you snacks player Second Nature Brands as it seeks to establish a new platform for alternative snacking.
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NewsInspired Pet Nutrition invests £6m into Kinmel site to ‘triple wet dogfood capacity’
The first stage of the investment will see a second processing and filling line installed at the North Wales site later this year
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NewsCity snapshot: Grocery sales plunge as inflation hits 11-year high
Supermarket sales plunged by 5.9% in the 12 weeks to 17 April, according to the latest market share data from Kantar, as consumers prioritised value amid soaring inflation
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NewsMedia Bites: M&S, Asda/Morrisons price cuts, Just Eat, Coca-Cola
Marks & Spencer was hit with a downgrade as Deutsche Bank analysts warned the retailer would suffer from the cost of living crisis.
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NewsCoca-Cola’s revenues surge amid Covid rebound and price rises
Coca-Cola has posted strong growth in its first quarter, as volume growth and rising prices more than compensation for mounting costs.
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NewsVertical farm tech business backs farm-in-a-shipping-container startup
The extended partnership will see Vertical Future invest in the company, as well as offer a building and commissioning service
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NewsTom Savano ready to scale premium premixed cocktail brand with help from the crowd
After launching at the end of 2019, the business has already generated £700k in revenues, selling more than 40,000 of its bottled “super-premium” cocktails.
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NewsCity snapshot: McColl’s trading slows as rescue talks continue
McColl’s has issued a profits warning after slower than expected Easter trading, while it remains locked in talks with its lenders and Morrisons over a financing package to enable its ongoing trading
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NewsMedia Bites 25 April: Just Eat, Cooking oils, AB InBev, Morrisons
Just Eat Takeaway.com is set for a showdown with investors at next week’s annual meeting, with one top shareholder alleging that the company misled shareholders
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NewsCity News: Market buoyed by Nestlé’s growth despite warnings of further price hikes
Nestlé warned of further price increases this week, on top of the existing 5%-plus price hikes this year, but analysts were buoyed by the fmcg giant’s continued organic growth
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NewsFilippo Berio UK expects ‘challenging year’ as input inflation bites
Olive oil market leader Filippo Berio has warned of “spiralling costs” and shipping issues from Italy after its UK profits were dented by inflationary pressures last year
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NewsCentral England Co-op food sales dip 3.4% to £667.6m
Sales of local goods increased by 23% over the past year
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NewsCity snapshot: Simon Arora to step down as CEO of B&M
B&M Bargains owner B&M European Value Retail has announced this morning that Simon Arora will retire as CEO next year after 17 years leading the business. Plus, ONS Retail sales, GfK consumer confidence and Pepco appoints Trevor Masters as CEO.
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NewsMedia Bites 22 April: Nestlé, EG Group, Boots, THG, Poundland, Carlsberg, AB InBev, Oatly
The papers are packed with food and drink news this morning as Nestlé warns of more price rises, consumer confidence plunges, THG reveals it has become a takeover target, fears that a sale of Boots may be stalling and more…
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NewsCity snapshot: Nestlé warns of further price increases as inflation boosts growth
The world’s largest food group Nestlé has warned of further price increases on top of its existing 5%-plus price hikes amid a “sharp” rise in costs. Plus, THG rejects ‘numours’ offers as it posts strong growth, but losses of £130m.
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NewsMedia Bites 21 April: Just Eat Takeaway, P&G, Heineken
The papers put the spotlight on Just Eat Takeaway’s decision to offload Grubhub.
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NewsP&G upgrades growth forecast but higher costs weigh on earnings
The US consumer giant has hiked its full-year growth expectations after posting double-digit organic growth in the first three months of 2022, but also warned it is facing higher costs
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NewsHeura smashes €1m crowdfunding target as thousands invest in plant-based brand
Its second ‘Equity for Good Rebels’ campaign on the Crowdcube platform saw the Spanish-headquartered business reach its €1m goal in just 30 minutes.