Finance news – Page 270
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NewsMedia Bites 16 Aug: Asda/Walmart, UK Retail Sales, Poundland
Asda boss Roger Burnley blamed Brexit for shattering consumer confidence and knocking the supermarket’s sales in the first half of the year
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NewsCrediton Dairy ‘on course’ to become market leader after latest results
The firm posted steady growth in turnover and profits which were ’in line’ with expectations
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NewsConsumer confidence ‘at six-year low’ due to Brexit, warns Asda’s Burnley
Walmart reported 0.5% like-for-like sales growth for Asda, excluding petrol, for the period 1 April to 30 June 2019
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NewsRetail sales record ‘surprise’ jump in July but food volumes dip
UK retail sales registered a “surprise” increase in July with volumes riseing 3.3% year-on-year
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NewsFinlays annual profits jump on eight-figure assets sale gain
Coffee and tea supplier Finlays saw double-digit profits rise last year as it gained from the sale of non-core assets
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NewsCity snapshot: Carlsberg ups guidance on ‘strong’ first half growth
Danish brewing giant Carlsberg has upgraded its full year earnings expectations after strong revenue growth and margin improvement in the first half of the year.
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NewsMedia Bites 15 Aug: Naked Wines, US/UK trade deal, Salt levels
The City billionaire Michael Spencer is engineering a bid for the fine wine merchant being sold by Naked Wines as part of its transformation into an online-only business.
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NewsLuxury confectioner Bon Bon’s acquires rival HF Chocolates
The two luxury chocolate businesses will sit within the gifts unit of Bon Bon’s owner Lanchester Wines
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NewsUK convenience set to grow £6.9bn by 2024, IGD forecasts
The forecast assumes an orderly Brexit as well as a moderate growth scenario
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NewsCofresh posts double-digit sales growth amid factory investment
Indian snacks producer Cofresh experienced “good growth” in all markets last year, with double-digit increases in both sales and profits.
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NewsCity snapshot: Adnams beer volumes beat market but losses rise
Adnams has reported beer volumes ahead of the market for the first six months of the year, but losses rose on increased costs and falling value sales. Plus all the rest of the latest news from the City.
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NewsMedia Bites 14 August: Poundland, Brexit, Henkel
Poundland is breaking with its past with a range of prices stretching from 50p up to £5.
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NewsPoundland trials new price point model with sub-£1 ranges
The bargain operator claims the new pricing architecture will allow it to extend ranges
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NewsValeo Foods in talks to acquire Kettle’s UK and Irish operations
City sources have confirmed to The Grocer the businesses are close to striking a deal, expected to be worth over £50m
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NewsRestaurants and cafés warned to plan for huge no-deal Brexit blow
MCA said Brexit uncertainty has already caused the market to shrink 1.9%
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NewsDavid Butcher returns to Carabao for second spell as MD
Butcher was Carabao UK & Ireland MD for seven months until November 2017
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NewsCity snapshot: Retailers demand ‘fixing’ of ‘outdated’ business rates
Representatives of more than 50 high street retailers have urged Chancellor Sajid Javid to take action. Plus, meal kit provider HelloFresh sees 37% quarterly sales jump and first group-wide profit, organic sales slip at Henkel and all the rest of the latest news from the City.
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NewsMedia Bites 13 Aug: Valeo Foods, Business Rates, Deliveroo
Valeo Foods Group is reportedly in exclusive talks to buy Kettle Foods’ operations in the UK and Ireland
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NewsCo-op joins Tesco’s calls for online sales tax
Tesco CEO Dave Lewis has called on the government to cut business rates by 20%, funded by a 2% levy on online sales
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NewsJuly retail footfall worst in seven years
Retail footfall continued to decline in July, marking the worst performance for the month since 2012. Plus, New Zealand dairy giant Fonterra takes £300-plus writedowns on global businesses and all the rest of the latest news from the City.