Finance news – Page 273
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NewsCity snapshot: Just Eat profits plunge as investment hits bottom line
Just Eat has experienced an almost complete wipe out of its first half pre-tax profits as it increased investment ahead of a multi-billion pound merger with Dutch contemporary Takeaway.com. Plus, UK consumer confidence steadies in July, trading updates from Glanbia and Devro and all the rest of the latest news from the City.
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NewsMedia Bites 31 July: Greggs, Reckitt Benckiser, AB InBev
Greggs will reinvest profits in a bid to become a challenger to McDonald’s as it pledges to roll out late opening and evening meals.
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NewsUK shop prices continue falling in July dragged by non-food deflation
UK shop prices fell 0.1% in July, marking the second consecutive month of deflation since October 2018
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NewsPots & Co targets US growth after £1.2m cash boost
The premium desserts manufacturer is looking to secure new contracts with ‘major’ US retailers
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NewsOffice lunch delivery firm Lean Lunch seeking £120k in crowdfunding
Leeds-based Lean Lunch offers locally sourced meals to city workers by cargo cycle…
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NewsCity snapshot: Greggs profits soar on stellar first half sales growth
Greggs first half profits surge on strong sales growth, Reckitt Benckiser’s first half growth sags to just 1%, Greencore third quarter sales fall in “challenging” period and all the rest of the latest news from the City.
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NewsMedia Bites 30 July: Just Eat/Takeaway.com, Beyond Meat, Heineken
Just Eat and Takeaway.com have reached “an agreement in principle” for the Dutch company to take over the UK online food delivery firm, but analysts say the deal is could be hijacked.
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NewsNeil McGuigan steps down as CEO of Australian Vintage
McGuigan was CEO for nine years, having joined the business in 2004 as GM of wine supply
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NewsJust Eat agrees £9bn merger with Dutch rival Takeaway.com
Just Eat has agreed to merge with Dutch delivery firm Takeaway.com in an all-share deal to create a £9bn listed fast food delivery giant.
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NewsMedia Bites 29 July: Sainsbury's, Just Eat, Primark
Sainsbury’s is considering launching a chain of restaurants as the war for the takeaway food market heats up.
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NewsAddo Food Group mulls factory closure to ensure future profitability
The company has entered consultations regarding the proposed closure of its Spalding bakery site, leaving more than 400 jobs at risk
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NewsIPO attempt costs drive £1.75m Lakes Distillery loss
British spirits brand The Lakes Distillery fell to a £1.75m loss last year as it counted the cost of an attempt to list on the London Stock Exchange.
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NewsBrexit fears force down value of food and drink sector deals
Food and drink deal values more than halved in the second quarter as Brexit-related caution continued to stem the flow of larger deals.
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NewsDiageo shares drop despite growth and £4.5bn share buyback
Hard-to-please investors sent shares of global booze giant Diageo down on Thursday despite being garnished with a £4.5bn share buyback and profit growth ahead of expectations.
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NewsMcDonald’s enjoys strong second quarter performance as global sales rise
The fast food giant reported “strong results” as global comparable sales continued rising in the three months to June
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NewsFocus on trends and innovation pushes BD Foods sales up
BD Foods saw pro-rata sales up 32% as it focused “heavily” on innovation and food trends
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NewsMichael Gove out at Defra but will work to stave off no-deal
Gove has been charged with overseeing planning for a possible no-deal Brexit
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NewsUnilever plays down talk of more disposals despite weak food performance
The company this week posted underlying sales growth below analyst expectations
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NewsEnergy bar brand Tribe raises £1m for international push
It has ambitions to become Europe’s biggest natural sports nutrition brand by 2025
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NewsCity snapshot: US recovery helps Nestlé post 3.6% first half organic growth
Nestlé has reported strong organic growth of 3.6% in the first half of the year led by overall volume growth and an improvement in US trading. Plus, Casino ups debt reduction target, Mothercare margins hit by UK retail weakness and all the rest of the latest news from the City.