Finance news – Page 215
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NewsMedia Bites 4 Jun: M&S, SSP Group, Food Workers
M&S cappes top executives bonuses and SSP begs investors to reinvest dividend into the business to preserve cash
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NewsAlcoholic tea startup Noveltea smashes £150k crowdfunding target
The premium low-abv alcoholic tea brand will use the funds to launch in the US later this year and improve sales in its current markets
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NewsStrong avocado demand boosts Greencell annual sales
The company’s revenues rose by £9m as a result of volume growth in its retail business
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NewsTesco to continue expansion of discounter Jack’s estate
The retailer’s latest Jack’s incarnation is set to take over a vacant Mothercare store in Hull
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NewsBibby Line Group names Sir Michael Bibby as new chairman
Bibby takes over on 19 June when the current chairman Paul Drechsler leaves the group after five years
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NewsCity snapshot: SSP swings to interim loss as coronavirus hits
SSP Group has swung to an interim loss as the coronavirus pandemic “heavily impacted” its trading, while announcing a call for investors to reinvest the dividend payment by buying new shares in the company.
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NewsMedia Bites 3 June: Shop prices, Tesco, Government loans
Shop prices fell last month at their fastest rate in 14 years as retailers made cuts to shift stock and grocers were forced to compete with home-grown produce.
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NewsBusinesses claim £31.3bn of government-backed emergency coronavirus funding
Lenders have approved over £31.3bn in funding through government-backed coronavirus schemes, according to new figures from the Treasury
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NewsTesco CFO Alan Stewart to step down
Tesco has announced that its chief financial officer Alan Stewart will retire and leave the company next year.
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NewsMedia Bites 2 Jun: ABF/Primark, Sainsbury’s, Insurance
Associates British Foods has announced it will reopen all its UK stores from 15 June, Sainsbury’s new CEO makes changes at the top and insurers go to court over coronavirus payments
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NewsCouncils to benefit from £50m fund to help reopen high streets
The cash from the European Regional Development Fund will go to councils to spend on practical measures such as new street signs and markings
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NewsAdelie Foods ceases trading as rescue talks fail
The UK’s third-largest sandwich maker has permanently ceased trading after its administrator was unable to secure a swift rescue package
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NewsWholey Moly closes small funding round to see brand through coronavirus hardship
The company was able to raise the funds from friends and family after a bigger raise with angel investors was postponed
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NewsPret a Manger hires consultants to advise on ‘new retail environment’
Pret has appointed Alvarez & Marsal and CWM to advise on aspects of a “comprehensive transformation plan”
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NewsSainsbury’s boss Simon Roberts reshuffles board on first day
Chief digital director Clodagh Moriarty will take on the new role of retail and digital director
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NewsCity snapshot: ABF to reopen all Primark stores by late June
Associated British Foods has announced it will reopen the last of its Primark stores by late June after it was forced to close its 378 retail locations across the world due to the coronavirus pandemic
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NewsMedia Bites 1 June: Pret a Manger, Supermarket exec pay, Sainsbury’s
Pret A Manger has called in consultants to help overhaul its fast food business model as its core customer base of commuters remains working from home
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NewsThatchers sales top £106m as it bucks downward cider trend
Cidermaker Thatchers “outperformed” the wider market last year as its annual sales continued past £100m and profits grew.
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NewsHonestly Good Smoothie Co smashes crowdfunding target within days
Honestly Good said it aimed to “take the business to the next level”
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NewsFrank Roberts & Son sees profits soar to £3.2m
Frank Roberts & Son has seen profits more than double in the past year despite operating in the challenging wrapped bread market