Finance news – Page 277
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NewsAdelie Foods sees £55m loss as impairment charges hit
Sandwich giant Adelie Foods posted another eight-figure loss despite improvements in its underlying performance.
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NewsHappy Egg producer Noble Foods reports profits jump as US egg market stabilises
Noble Foods profits jumped 650% with the company attributing the strong performance to a “more stable” US egg market.
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NewsGove warns of ‘significant’ no-deal Brexit challenges for food & drink sector
Defra Secretary of State Michael Gove said a no-deal will put a strain of the UK food & drinks manufacturing sector.
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NewsCity snapshot: Reckitt Benckiser agrees $1.4bn US drugs fine
Reckitt Benckiser has agreed to pay a $1.4bn fine to close a US Department of Justice investigation into the sales and marketing of an opioid addiction drug under its former pharma arm. Plus, McBride warns of further sales weakness and all the rest of the latest news from the City.
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NewsMedia Bites 11 July: Heineken, UK economy, M&S
Heineken’s pub chain is to be investigated over concerns it strong-armed landlords who wanted to cut ties with the brewer into continuing to sell its beer.
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NewsMcCain backs $7m plant-based nuggets start-up fundraising
Nuggs, a new plant-based “chicken” nuggets start-up, has officially launched after raising $7m in funding, with potato giant McCain its primary backer.
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NewsHaribo invests in UK expansion as export demand soars
The UK-based sweet manufacturer will increase production at its Castleton facility after demand from the US jumped.
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NewsCereal crops gain UK growing space as oilseed rape struggles
Rape crops struggled to establish themselves in last year’s dry autumn and were then damaged by the cabbage stem flea beetle
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NewsCauseway Capital to shut a further 14 Patisserie Valerie stores
The new private equity owner of Patisserie Valerie is to shut a further 14 stores at the cost of 100 jobs.
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NewsMedia Bites 10 July: Ocado/M&S, Asda, Patisserie Valerie
Ocado and Marks & Spencer are both heavily covered in this morning’s papers ahead of the launch of their JV.
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NewsSales of MSC UK fish and seafood hit £1bn mark
The certification scheme has crowned Tesco its ‘Supermarket of the Year’
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NewsPepsiCo sticks with 4% growth guidance after first half sales rise
PepsiCo reiterated its guidance of 4% revenue growth in the full financial year after reporting improved sales in the first half.
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NewsScottish Salmon Co mulls sale
The Scottish salmon producer is considering selling all or part of the business as part of a review launched in April.
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NewsPrinces unveils new pea plant in Lincolnshire as part of planned £80m investment
The investment is the “biggest ever” for the canned food giant.
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NewsAAC’s post-Brexit Irish border plans slammed as ‘unworkable’
BRC and FTA warned ‘alternative arrangements’ would not guarantee frictionless trade on the island of Ireland after Brexit
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NewsCity snapshot: Ocado posts deep first half loss after £100m Andover fire hit
Ocado has posted a first half pre-tax loss of over £140m after the fire at its Andover warehouse cost the online supermarket almost £100m. Plus, PhD Nutrition acquisition drives first half sales surge at Science in Sport and all the rest of the latest news from the City.
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NewsMedia Bites 9 July: Retail sales, Imperial Brands, Heck
Retailers have suffered the “worst June on record” with total sales down 1.3% year-on-year in June
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NewsUK retail sales suffer ‘worst June on record’ as summer fails to shine
UK retail sales fell 1.3% as bad weather and Brexit uncertainty halted consumer spending.
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NewsJealous Sweets targets growth after shift to fmcg market and funding boost
Vegan gummy bear maker Jealous Sweets is targeting £4m turnover next year after securing working capital from Lloyds Bank helped to boost sales and international expansion.
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NewsBang Curry raises six-figure sum to drive team expansion and volume growth
The scratch-cooking curry mix maker will use the funds to expand its workforce and boost volume sales.