Finance news – Page 223
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NewsCoffee supplies under strain as producing countries face coronavirus disruption
The pressures are particularly acute in South America, from where the UK imports more than half its coffee.
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NewsCity snapshot: FeverTree annual sales rise 10% but coronavirus impact will be ‘material’
FeverTree annual revenues surged but the company expects “material impact” from the coronavirus pandemic. Plus, Glanbia’s 2020 sales rise but it withdraws full year guidance and all the rest of the latest news from the City.
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NewsMedia Bites 22 April: John Lewis/Waitrose, Coca-Cola, ABF/Primark
The former bosses of John Lewis and Waitrose are being given payoffs of almost £1m each despite store closures and the furloughing of 14,000 staff.
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NewsTonic Health closes six-figure funding round as coronavirus boosts sales
The business experienced “incredible growth” this year as consumers started to understand the importance of the immune system
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NewsHuel rival YFood secures multimillion investment to expand across Europe
The German-based business will use the funds to roll out its model, already profitable in Germany, Austria and Switzerland, across Europe
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NewsFood suppliers fear factories could be ‘paralysed’ by face mask recommendation
Companies say a global shortage of the equipment would make it impossible for workplaces to remain open if the advice is changed
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NewsWaitrose sees 8% sales hike as John Lewis faces slump
Chairman Sharon White is take a 20% pay cut on her £990,000 annual salary
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NewsMedia Bites 21 April: Premier Foods, Insurance, Shopper habits
Premier Foods sales surge amid coronavirus outbreak, insurers start protection talks with the government, IRI figures show changing shopper habits
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NewsABF takes £284m coronavirus stock writedown but grocery shows strong profit growth
Associated British Foods has posted a significant fall in first half profits as it was forced to take a £284m writedown on Primark stock, but the rest of its business continues to perform despite the pandemic. Plus, Danone shows solid Q1 growth but withdraws full year guidance and all the rest of the latest news from the City.
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NewsCoronavirus: Gut health startup Bio&Me secures government loan
The brand secured funding a week within applying for it, despite widespread criticism of the scheme
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NewsCoronavirus: UK government announces £1.25bn package for ‘innovative firms’
The new scheme includes a £500m investment fund made up of cash from both the government and the private sector
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NewsMany retailers weeks from collapse unless government pays rents, warn industry leaders
Companies that were viable before the coronavirus outbreak will be forced to file for administration if the government doesn’t step in
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NewsCoronavirus: Defra confirms further relaxation of competition laws for dairy sector
It follows lobbying by processors, farmers and industry bodies for support amid a growing crisis in the sector
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NewsCity snapshot: Premier Foods completes strategic review with pensions restructure
Premier Foods reaches “transformational” agreement with its pensions schemes, completing the strategic review announced over a year ago
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NewsMedia Bites 20 April: Supermarkets/clothing, Government loans, Pret
Asda is cancelling orders and reneging on full payments to clothing suppliers, despite enjoying record food sales and a taxpayer windfall
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NewsCity news: AB InBev slashes dividend to help tackle debt pile
The world’s largest brewer AB InBev slashed its dividend this week to help cope with the effects of the coronavirus and the pressures of its debt pile.
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NewsGovernment considers calls to underwrite trade credit insurance
The government is considering requests from food and drink leaders and the wider insurance industry to underwrite trade credit insurance
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NewsCoronavirus: Plans for SME rescue package welcomed as CBILS scheme faces criticism
Food and drink industry experts have welcomed reports of a potential new equity-based rescue package for startups, but warned such a scheme was unlikely to be a silver bullet to solve the current funding crisis
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NewsEnglish fishermen thrown £10m lifeline from government grants
More than 1,000 fishing and aquaculture businesses will receive a share of the funding
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NewsBakkavor faces investigation over face coverings issued to protect workers against coronavirus
HSE is looking into the claims made by the GMB union