Finance news – Page 218
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NewsCoronavirus crunch pushes raft of FTSE retailers to profit warnings
FTSE retailers issued 38 profit warnings in the first three months of the year, exceeding the 32 recorded in the sector for the whole of 2019
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NewsManchester Union Brewery turns to the crowd to fund retail expansion
The company aims to raise a total of £80k to “fast-track its transition from keg to can” and distribute its lager into retailers
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NewsCity snapshot: Lockdown wipes almost all April footfall
UK streets were left silent in April under the government-imposed lockdown to prevent the spread of coronavirus
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NewsMedia Bites 18 May: JAB, Brexit deal, M&S
JAB Holdings hopes to raise around €2bn from the Amsterdam listing of its JDE Peet’s coffee business, Brexit agreements come to a standstill over fishing policy and M&S prepares to announce results on Wednesday
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NewsMorrisons share buoyed by lockdown durability
The Bradford-based grocer reported a 5.7% jump in first quarter like-for-like sales excluding fuel, as its retail sales su…
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NewsSupermarket price inflation spikes under lockdown as retailers halt deals
The Grocer Price Index recorded year-on-year inflation of 2% during the first full month of the UK lockdown in April
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NewsHealthy snacking brand Bepps raises six-figure emergency investment
The 2018-established business was able to raise between £100k and £200k from 4 existing investors
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NewsSymington’s dips into the red after exit of licensed brands
Symington’s plunged back into the red last year, as the planned exit of its Ainsley Harriott and Golden Wonder brands hit the company’s financial performance
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NewsCity snapshot: Supermarket price inflation spikes as retailers halt deals
The Grocer Price Index recorded year-on-year inflation of 2% during the first full month of the UK lockdown in April. That’s up from 0.4% in March
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NewsMedia Bites 15 May: WH Smith, Sainsbury’s, Food Price Inflation
The closure of major transport hub stores caused sales at WH Smith’s travel arm to collapse by more than 90% in April
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NewsChinese demand for pork creates competition for UK pig market
Chinese pork imports surged by more than 150% in March on the same month last year
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NewsFears Agriculture Bill is prioritising US deal
The government won a vote against amendments that would require food imports to abide by the same standards as British production
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NewsScheff Foods shifts business focus from foodservice to retail
Scheff said it was also open to working with other manufacturers struggling to fulfil orders for retailers
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NewsMedia Bites 14 May: Tesco, Trade Credit, Alternative Meat
Tesco executives were able to enjoy a pay boost after online supermarket Ocado was removed from a group used to calculate comparative returns.
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NewsCity snapshot: WH Smith revenues plunge 85% in global lockdown period
WH Smith has said its revenues slumped by 85% year-on-year in April amid widespread coronavirus lockdowns and a collapse in air travel as the coronavirus outbreak has a “significant” impact on its business.
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NewsCrowdcube reports activity resurgence as brands settle into ‘new normal’
The level of investment into businesses on Crowdcube reached £9.2m last month, up 58% on March
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NewsPoundland to reopen its 100 temporarily closed stores starting next week
Thirty-six stores will reopen from Monday 18 May with the rest to follow, the variety discounter said
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NewsGovernment agrees plan to underwrite trade credit insurance
The move is designed to keep supply chains moving during the coronavirus crisis
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NewsCity snapshot: Stock Spirits reports ‘minimal’ impact from coronavirus pandemic
Stock Spirits said trading remained resilient after reporting a 15% increase in first half revenues. Plus, UK retail sales dropped almost 20% in April, Applegreen enhances liquidity position and all the rest of the latest news from the City.
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NewsMedia Bites 13 May: Morrisons, Sainsbury’s, UK Retail
Online deliveries boost Morrisons’ first quarter sales, Sainsbury’s hand out almost £2m in bonus shares and Britain’s retailers warn of mounting risk of shop closures and job losses.