Finance news – Page 270
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News🔴 Budget 2021 Live: Chancellor outlines Covid recovery measures
The latest updates for the grocery industry on the B
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NewsMedia Bites 3 March: Budget/Furlough, Grocery share, Virgin Wines
Rishi Sunak will announce on Wednesday that the Treasury is extending its furlough scheme until the end of September in an attempt to safeguard jobs as a fragile economy emerges from the Covid-19 emergency
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NewsCity snapshot: Profits evaporate at Vimto owner Nichols in face of Covid crisis
Vimto maker Nichols has experienced a dramatic slump in sales and profits as it faced the “unequalled challenges” presented by the Covid pandemic. Plus, fierce competition keeps food inflation in check, according to the latest BRC-Nielsen shop price index for February. There are also trading updates from DS Smith and Smiths News.
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NewsEmmanuel Faber agrees to step down as Danone CEO
French dairy giant agrees to split chairman and CEO role, meaning it will search for a new chief exec following shareholder pressure
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NewsSeafood supplier Sco-Fro netted by Japan’s Nishimoto Co
Established in 1975 by founder and chairman Stanley Bernard, Sco-Fro is one the UK’s largest importers of own-label noodles and frozen sushi and surimi.
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NewsFarmison appoints KPMG to explore investment options
The Yorkshire-headquartered meat delivery firm is targeting sales of £100m with ambitious plans to continue disrupting the ind
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NewsLindt sweetens global decline with rising UK sales
A strong performance in the UK helped Lindt offset declines across the world as the coronavirus pandemic disrupted several areas of the Swiss confectionery giant’s business.
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NewsCity snapshot: Grocery sales growth hits eight month high in February
Grocery industry sales growth accelerated to its highest level since June 2020 during February as the latest national restrictions curtailed spending in cafés, restaurants and pubs. Plus trading updates from Hotel Chocolat, HelloFresh and Virgin Wines starts trading on the stock exchange.
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NewsMedia Bites 2 March: Danone, Morrisons, The Restaurant Group
The board of directors of Danone has sought to calm an acrimonious public fight with activist shareholders by agreeing to split the chairman and chief executive roles now both held by Emmanuel Faber.
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NewsGrocemania reaches £100k target to fund growth into new cities
The rapid delivery service is already in London, Brighton, Nottingham and Bristol
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NewsMedia Bites 1 March: High Street/Budget, John Lewis/Waitrose, Danone
Chancellor Rishi Sunak is set to announce a £5bn grant scheme to help High Street businesses hit hardest by the pandemic
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NewsCity snapshot: McColl’s to roll out hundreds of Morrisons Daily stores
McColl’s Retail Group has extended its wholesale supply agreement with Morrisons and is converting hundreds of stores to the supermarket’s convenience offering. Plus, Ocado has kick-started operations at its new mini customer fulfilment centre in Bristol.
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NewsCity News: Investors wary despite record growth for Reckitt Benckiser
Consumer health giant Reckitt Benckiser posted the highest annual revenue growth in its history this week, but its share price failed to respond
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NewsMedia Bites 26 Feb: Asda, DS Smith/Mondi, ABF/Primark
About 5,000 jobs are at risk at Asda after the supermarket group launched a big restructuring in response to the rapid rise of online shopping
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News
Jammie Dodgers maker Burton’s Biscuits set to be put on sale
Ontario Teachers’ Pension Plan, which bought Burton’s in 2013, has hired advisors at Stamford Partners to run the process.
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NewsGiles Brook backs eco cleaning challenger Neat with six-figure investment
Neat has eliminated single-use plastics by producing plant-based cleaning concentrates in small glass containers and refillable aluminium spray bottles
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NewsCity Snapshot: Primark drags back grocery and sugar progress at ABF
Associated British Foods said its grocery, sugar and agriculture businesses will be “materially ahead of expectations” for its first half, but Primark’s coronavirus-drive weakness will reduce overall sales and profits. Elsewhere, Biffa buys food waste retailer Company Shop, Virgin Wines reveals £110m listing details and AB InBev grows fourth quarter sales.
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NewsMedia Bites 25 Feb: Beer duty, Brexit, Reckitt Beckiser, EG Group
Beer duty could be cut in pubs and raised in supermarkets to encourage people to go out after the lockdown ends, Boris Johnson hinted yesterday.
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NewsBailout hopes grow for wholesale sector as PM admits it has ‘fallen through the cracks’
The PM has signalled foodservice wholesalers could finally be offered sector-specific support
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NewsMedia Bites 24 Feb: Oatly, SimplyCook, Exports
Swedish non-dairy milk maker Oatly is set to go public with a New York listing that could value it at up to $10bn