Finance news – Page 232
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NewsCoronavirus: Ocado turns away new orders as online services creak under strain
Waitrose, Sainsbury’s, Tesco and Morrisons are also struggling with high demand
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NewsCity snapshot: Compass Group issues coronavirus-driven profits warning
Global catering giant Compass Group expects the spread of the coronavirus to hits its bottom line by up to 30% and reduce profits by £225m. Plus, The British Honey Co will use excess capacity to produce alcohol sanitisers, Bakkavor completes £455m refinancing and all the rest of the latest news from the City.
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NewsMedia Bites 17 March: Asda, Supermarkets/coronavirus, ABF
Asda is moving closer to a sale after attracting bids from several private equity firms that could value the company at more than £7bn.
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NewsCoronavirus: most supermarkets to enact restrictions to curb panic buying
Initial curbs look set to be a four-product limit on all skus
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NewsCoronavirus: Iceland encourages store managers nationwide to dedicate hours to elderly shoppers
The move comes after the Iceland branch in the Kennedy Centre in Belfast said the store hours of 8am-9am would be set aside for the elderly from Tuesday 17 March
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NewsCoronavirus panic buying sees scampi sales surge
Whitby Seafoods said sales of frozen scampi jumped by more than 100% last week
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NewsCoronavirus: supermarkets hope to co-operate on store closures and food supplies
Retail leaders today repeated a call for calm after shopper stockpiling saw many shelves left bare
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NewsCity snapshot: Associated British Foods warns of impact of Primark European store closures
Associated British Foods has this morning warned the temporary closures of its Primark stores in Italy, France, Spain and Austria could cost £190m in lost sales. Plus The BRC and supermarkets issue public plea over panic buying and all the rest of the latest news from the City.
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NewsMedia Bites 16 March: Supermarkets/coronavirus, Morrisons, Hand sanitiser
Britain’s leading supermarkets are pleading with customers to refrain from panic buying during the coronavirus crisis, with some already rationing items and turning new customers away to cope with demand.
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NewsCity News: Analysts welcome hefty price tag for Tesco’s Asian arm
Tesco’s long-shelved plans for global domination were further unwound this week with the sale of its Asian arm for £8bn, as it continues to refocus on its core business.
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NewsFitbakes in fundraising push to accelerate growth
The startup has launched a £200k funding drive after securing listings in the mults
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NewsDifferent Dog raises over £770k in 24 hours amid wider funding plans
The premium petfood brand is now planning a wider Series A round to raise up to £4m by the end of the year
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NewsCoronavirus: Government plans extension to Sunday trading hours
It is understood that the Department for Business, Energy and Industrial Strategy (BEIS) is considering the measure to allow supermarkets to cope with a huge spike in demand
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NewsMorrisons looks to ease small supplier cashflow problems with faster payments
Farmers, local food makers and many more small businesses will be paid early
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NewsMPs to launch inquiry into post-Brexit immigration proposals’ impact on food
Efra Committee chair Neil Parish warned produce could be ‘left to rot in fields’ if the food sector’s labour requirements weren’t met
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NewsWelsh Bros Foods collapses into administration
The 1964-established business appointed administrators at Grant Thornton UK LLP in early March
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NewsMedia Bites 13 March: Coronavirus; WHSmith; Poundland
The coronavirus outbreak continued to wreak havoc on global markets with the FTSE plunging to its lowest level and travel retailers such as WHSmith taking most of the hit
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NewsCity snapshot: Food inflation persists as all of big four raise prices
Supermarket inflation moved back to its second-highest level since mid-2018 in February as prices continue to move upwards
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NewsPoundland owner delays retailer’s potential flotation amid coronavirus and CEO illness
Market volatility caused by the virus’ outbreak and the illness of the unit CEO Andy Bond were cited as reasons for the delay
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NewsCoronavirus: Emergency measures will give supermarkets a ‘key role’ in fighting virus
Ministers are set to press the button on changes including allowing supermarkets to share data to try to avoid food shortages