Finance news – Page 249
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NewsBabease blew through £11m of shareholder cash before collapse
Losses had spiralled to a combined £2.8m on the back of turnover of just £1.4m in the first nine months of 2019
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NewsFruit & veg wholesaler The Italian Fruit falls into administration
The company is currently seeking a buyer, but it remains unclear whether a deal will be struck
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NewsOcado Retail grows fourth quarter sales by 10.8%
Ocado Retail, the joint UK grocery venture between Ocado and Marks & Spencer, has posted growth of 10.8% in the fourth quarter driven by a double-digit jump in order volumes.
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NewsMedia Bites 12 Dec: Deliveroo, Majestic Wine, Marks & Spencer
Amazon’s estimated $500m investment in the food delivery company Deliveroo may be blocked after the competition watchdog threatened to launch a full-scale investigation.
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NewsSeedrs to relaunch accelerator programme after initial brands’ success
With the first three businesses to complete their campaigns achieving 100% funding, Seedrs described the programme as an “amazing success”
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NewsAmazon and Deliveroo given five days to address merger concerns by CMA
The companies must come up with legally binding proposals to address the Competition & Markets Authority’s concerns
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NewsCosta teams with Bol to add vegan options to lunchtime menu
The brand will launch 100% plant-based products into the coffee shop chain at the beginning of January
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NewsCity snapshot: 2 Sisters turnaround continues with first quarter profit growth
Like for like profits jumped by 42.4% in 2 Sisters’ first quarter, driven by continued improvements in its core poultry division and improved trading in its biscuits and bakery businesses.
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NewsMedia Bites 11 Dec: Grocery market share, UK economy, Just Eat
The big four supermarkets have had their worst run into Christmas for 15 years, according to the latest market data
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NewsLucy’s Dressings in crowdfunding push to launch vegan and flavoured mayo range
The brand will hit Crowdcube on Monday (16 December) looking to raise a minimum of £125k
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NewsCity snapshot: Black Friday fails to boost lacklustre grocery sales
Black Friday failed to boost lacklustre sales across the grocery industry as the latest market share figures from Kantar show grocery sales growth slowing to 0.5% for the 12 weeks to 1 December. Plus, Just Eat rejects new Prosus bid, McColl’s profits below expectations, new CFO for Premier Foods and all the rest of the latest news from the City.
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NewsMedia Bites 10 Dec: Tesco, Just Eat, M&S
Tesco shares rallied on the news that the potential sale of Tesco’s multibillion-pound Asia business could lead to a bumper payout for investors.
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NewsCellular Agriculture turns to the crowd to scale lab-grown meat technology
The business is targeting £500k on newly-launched crowdfunding platform Koodoo
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NewsTesco pledges £10m to protect Brazilian soy-producing region from deforestation
Tesco’s investment will incentivise farmers to grow soy on existing agricultural land rather than burning virgin forest
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NewsTesco mulls Asian business sale following ‘inbound interest’
Tesco has announced it is considering a sale of its businesses in Thailand and Malaysia as part of a “review of the strategic options” for its Asian operations
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NewsMedia Bites 9 Dec: Footfall, Scottish pub trade, Eddie Stobart
November high street footfall continued on a downward trend as heavy rain dampened shoppers willingness to get to the high streets
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NewsAuthentic Food Group falls to £3.5m loss due to ‘unprecedented’ challenges
The world foods manufacturer said it had been faced with “unprecedented political, economic and market challenges”
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NewsUpfield profits slump after Unilever spin-off
An Upfield spokesman said the results reflected “necessary one-off restructuring costs”…
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NewsCity snapshot: Associate British Foods expects sugar recovery and grocery growth
Associated British Foods reiterated its outlook of further profit and margin growth in its Grocery division, as well as strong Primark performance and a recover in its struggling Sugar unit
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NewsMedia Bites 6 Nov: Food prices, Eddie Stobart, Wine regions
Food prices have reached their highest point in two years last month, Eddie Stobart is on the brink of collapse and wine collectors turn to the Italian hills