Finance news – Page 231
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NewsCity snapshot: M&S warned of ‘severe impact’ of coronavirus and readies store closure contingencies
Marks & Spencer has warned of the “severe impact” of the coronavirus outbreak on its clothing and home business and has detailed a cost-control programme to mitigate the damage. Plus, supermarket competition law temporarily relaxed, Hotel Chocolat raises cash amid outbreak sales downturn and all the rest of the latest news from the City.
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NewsMedia Bites 20 March: Coronavirus/supermarkets, Retail industry, Ocado
The government is relaxing competition regulations to allow retailers to work together more closely to help feed the UK during the coronavirus outbreak
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NewsCoronavirus: EU border restrictions are disrupting food supplies
More than a dozen EU countries have introduced border controls to try and stem the spread of coronavirus
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NewsCMA gives green light to PepsiCo’s acquisition of Fruit Bowl owner Pioneer
The UK’s competition watchdog has closed its investigation into the $1.7bn merger between PepsiCo and South African food group Pioneer Foods.
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NewsFears food suppliers may not be able to cope with coronavirus demand
FDF has written to environment secretary George Eustice, urging the government to prioritise the food workforce
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NewsKellogg’s seeks temporary workers to ramp up production
It has urged anyone with food manufacturing experience to apply
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NewsCity snapshot: Ocado Retail reports sales lift amid ‘unprecedented demand’
Ocado Retail has reported double-digit sales increase in the first quarter, which was unaffected by the coronavirus outbreak
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NewsMedia Bites 19 March: Morrisons, Stockpiling, Ocado
As the coronavirus outbreak wrecks havoc on the grocery sector, supermarkets have implemented a number of rules to cur panic-buying and secure stock
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NewsCoronavirus: SMEs face ‘wartime’ grocery market
SMEs and startups have reported rising concern they will be faced with a ‘wartime’ grocery market, putting the survival of their businesses at risk
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NewsCoronavirus: HMRC to fast-track applications for distillers to shift to hand sanitiser production
HMRC has pledged to fast-track applications for spirits producers to use tax-exempt alcohol to shift production to hand sanitisers and gels amid a national shortage
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NewsSupermarkets introduce wave of new measures to deal with coronavirus panic buying
It comes as they try to reassure customers that there is no need to panic-buy and ensure essential supplies remain available to the most vulnerable
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NewsCoronavirus: SMEs risk ‘falling between the cracks’ of new government measures
SMEs have urged the government to increase measures to help them survive the coronavirus outbreak
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NewsCoronavirus cashflow squeeze ‘worse threat than Brexit’ for startups and SMEs
Food & drink SMEs have urged the industry to step up support measures as the coronavirus outbreak puts a squeeze on cashflow
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NewsPrivate equity giants assembling board for £7bn Asda takeover
Three private equity funds are working with major recruitment firms to identify potential executives
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NewsCity snapshot: Morrisons expands online delivery and guarantees pay amid ‘unprecedented’ coronavirus challenge
Morrisons has pledged to expand its online delivery capacity and has guaranteed the pay of its staff amid what it called ”unprecedented challenges and uncertainty” around the coronavirus outbreak.
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NewsMedia Bites 18 March: Chancellor/Business rates, Supermarkets/Coronavirus, Compass
Rishi Sunak has announced state loan guarantees worth £330bn along with a further £20bn of financial handouts to help struggling businesses cope with the rapid spread of coronavirus, including a one-year break from business rates.
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NewsDr Will’s seeks £300k investment to fund condiments NPD
The natural condiments startup is looking for angel investors to back the brand’s growth
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NewsHigh street retailers may be called upon to help with supermarket deliveries
Retail bosses and government have floated the idea of using the likes of Deliveroo, Just Eat, Uber Eats, Yodel, DHL and high street retailers to boost supply chain capacity
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NewsMorrisons to expand delivery service in response to coronavirus outbreak
The move includes the launch of new food parcels to allow families to stock up in self-isolation
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NewsPandemic fuels record sales for delivery startup Grocemania
The company reported sales of over £9,000 on Monday, up from an average of £1,200 during a normal trading day