Finance news – Page 227
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NewsMorrisons to treble staff bonuses in recognition of ‘huge effort’
The retailer said the changes represented a bonus payment of £1,050 for a full-time frontline colleague
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NewsMotor Fuel Group insists forecourts will remain open despite fuel sales collapse
Government figures from last weekend showed a 75% decline in petrol sales
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NewsCity snapshot: Bakkavor withdraws financial guidance as coronavirus hits order levels
Bakkavor has withdrawn its financial guidance for 2020 after the coronavirus crisis impacted trading, with overall sales falling below expectations. Plus, Pets at Home profits to suffer despite stockpiling, PZ Cussons investigates former CEO and all the rest of the latest news from the City.
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NewsMedia Bites 2 April: UK emergency aid, M&S, Morrisons
The chancellor is preparing to unveil an overhaul of his emergency aid scheme for small businesses amid warnings about a deluge of insolvencies.
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NewsBritish American Tobacco working on plant-based Covid-19 vaccine
The vaccine in development uses BAT’s proprietary, fast-growing tobacco plant technology
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NewsNurture Brands secures deal to buy The Primal Pantry
Fast-growing plant-based snacking group Nurture Brands has agreed a deal to buy healthy snack bar brand The Primal Pantry
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NewsCoronavirus: Egg prices could rise amid ‘stretched’ supply chain
Feed costs have risen by 10%, which may see hikes passed on to consumers, producers have warned
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NewsMorrisons wins Supreme Court appeal over data breach case
In 2014, senior internal auditor Andrew Skelton leaked the payroll data of nearly 100,000 employees
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NewsCoronavirus: Beef processors face profit squeeze over carcase balance
While shoppers have been stocking up on beef, they have avoided more expensive cuts of beef
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NewsCity Harvest seeks £50k extra funding amid surge in food donations
The food redistribution charity has launched a GoFundMe push to pay for significantly increased activity
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NewsNestlé Purina buys premium petfood player Lily’s Kitchen
Premium petfood brand Lily’s Kitchen has been acquired by Nestlé Purina with the aim of boosting its global growth
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NewsCity snapshot: Chapel Down sees booming retail and online wine sales but suspends brewing business
English winemaker Chapel Down has experienced “substantial” growth in supermarket, off license and online sales, but has shuttered its beer and cider brewing arm due to the closure of on-trade outlets. Plus, UK shop prices fall 0.8% in March and all the rest of the latest news from the City.
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NewsMedia Bites 1 April: Supermarkets/Coronavirus, Tobacco, Poundland
Britons made nearly 80m extra grocery shopping trips in March – spending almost £2bn more on food and drink than in 2019
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NewsSales at indie retailers surge as shoppers ditch empty supermarket shelves
Grocery sales at independent retailers and symbol groupsvhave outpaced the record growth of traditional supermarkets and discounters
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NewsImperial Brands shares surge on coronavirus resilience
Shares in FTSE 100 tobacco giant Imperial Brands closed up more than 12% on its reassurance to the market that the current coronavirus outbreak has had “no material impact” on trading.
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NewsCoronavirus demand surge supercharges grocery industry growth
The UK grocery industry experienced its strongest four-week period on record in March, with overall industry growth of more than 20% and the sales increase of established players rivalling that of the discounters
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NewsPoundland to temporarily close 100 stores
Staff are to be furloughed in the government’s job retention scheme or transfered to another store where possible
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NewsStockpiling reaches £3.2bn high in third week of March
An extra £1bn in sales saw weekly grocery spend veer close to the amount spent during the peak week of Christmas 2019
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NewsCity snapshot: Grocery sales surge to decade-long high amid coronavirus lockdown
Grocery sales have surged to the highest level in more than a decade amid the UK coronavirus lockdown, with industry growth at more than 20% in the past four weeks. Plus, Nichols warns of coronavirus impact, WH Smith and Sainsbury’s team up for NHS stores, Imperial Brands and BAT raise cash and all the rest of the latest news from the City.
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NewsMedia Bites 31 March: Online operations, M&S, Veg suppliers
Retailers fight to keep their online operations open, food retailers to benefit the most from business rates suspension and M&S offers essential boxes for £30