Finance news – Page 213
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NewsCity News: Premier Foods shares boosted by news of possible Hovis sale
The bread brand’s 51% owner Gores Group has reportedly hired banker Baird to find a buyer for Hovis
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NewsGrocery delivery boom ‘here to stay’ after lockdown, research suggests
Demand for online grocery delivery services has not waivered despite lockdown easing, Him and MCA Insight said
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NewsMedia Bites 12 Jun: UK GDP, Brexit talks, Unilever
The UK economy shrunk faster than during the financial crisis in April, the government relaxes post-Brexit border checks and Unilver proposes to move its company into one entity based in London
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NewsCity Snapshot: Bakkavor sales ‘showing signs of recovery’ despite May sales drop
UK ready meals player Bakkavor has said its sales volumes have stabilised and show “early signs of recovery in all markets”. Plus, UK GDP posts the worst monthly fall in history, Mitchells & Butlers renegotiates lending facilities and all the rest of the latest news from the City
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NewsUpfield invests €50m into ‘pioneering’ Dutch plant-based facility
The Flora owner will open the new Food Science Centre in Wageningen before the end of 2021
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NewsDairy farmers to miss out on recovery funds as criteria is changed
The fund will now pay out to those who saw their milk price fall by 25% rather than lost 25% of their income
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NewsPoundstretcher to ‘close a quarter of stores’ following review
The high street discounter has already closed around 30 stores during lockdown, in some cases permanently
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NewsCity snapshot: Just Eat Takeaway to acquire Grubhub to create global delivery giant
The online delivery company will buy the US-based business for $7.3bn, in a move that will create the largest online food delivery company outside of China
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NewsMedia Bites 11 June: Ocado, Just Eat/Grubhub, Morrisons
The surge in online food shopping has prompted Ocado to tap investors for £1bn to build more of its robotic warehouses
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NewsOcado launches £1bn funding drive to capitalise on online shopping boom
Ocado is seeking to raise more than £1bn to capitalise on the boom in online grocery shopping brought about by coronavirus.
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NewsBeyond Meat promises NPD and cheaper products as Dutch factory opens
The US plant-based giant has also acquired a second Dutch site dedicated to innovation
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NewsFood and drink trade groups urge government to rethink food strategy
The proposals claim successive governments have overseen a gradual decline in the UK’s self-sufficiency
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NewsCoronavirus: Government approves only one in 10 Future Fund applications
The British Business Bank revealed £55.9m worth of convertible loans had been approved since the fund opened on 20 May, despite receiving applications worth £515m on the first day of opening
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NewsDivine Chocolate CEO Sophi Tranchell leaves the business
Tranchell is departing after helping to secure a new owner for Divine to ensure it was ‘left in good hands and well-supported for the future’
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NewsMission Ventures takes on seven startups to tackle childhood obesity
Mission Ventures will help seven brands at different growth stages tackle childhood obesity through an accelerator programme providing support and funding
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NewsMedia Bites 10 Jun: Hovis, Uber Eats, BAT
Hovis shareholders prepare to offload the business, Uber Eats abandons plans to own kitchens and BAT warns of profit drop following lockdown
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NewsCity snapshot: Restaurant Group to close 125 Frankie and Benny’s sites via CVA
The Restaurant Group has announced its intention to close 125 Frankie and Benny’s restaurants and seek rent reductions for a further 85 sites after instigating a company voluntary arrangement.
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NewsWest Berkshire Brewery smashes £750k crowdfunding target
The company raised over £765k from 555 investors, despite the coronavirus pandemic impact on the hospitality industry
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NewsFreaks of Nature invests £1m to scale up capacity and keep up with demand
The move comes as production volumes for the first quarter of the year jumped 100%, despite being held back by the impact of the coronavirus pandemic
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NewsBakkavor jobs at risk as supplier plans changes at Lincolnshire base
The prepared foods giant has revealed plans for major operational changes at the site, where it operates two salads factories, two meals factories and a distribution centre.