Finance news – Page 291
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NewsSainsbury’s shares sink on death of Asda merger
Sainsbury’s shares have hit a new year-long low on the news that the UK Competition & Markets Authority has blocked its mega-merger with big four contemporary Asda.
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NewsCMA blocks Sainsbury's/Asda merger
Sainsbury’s and Asda have abandoned their plans for a merger after a crushing final report by the competition authorities today concluded the plans would lead to rising prices and reduced quality for shoppers across the UK.
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NewsMedia Bites 25 April: ABF, Beyond Meat/Tyson Foods, Heineken
Strong demand for Primark’s low-cost branded fashions has helped to cushion the blow of falling profits from sugar at its parent company Associated British Foods.
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NewsCaterforce grows sales despite departure of Kent Frozen Foods
The foodservice buying group recorded annual sales of £524m for the year to the end of 2018
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NewsSupermarket Income REIT buys Tesco Extra in Nottinghamshire
The property is the seventh supermarket to be snapped up by REIT
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NewsSugar division woes hold back ABF's first half performance
Associated British Foods has posted a 15% drop in first half pre-tax profits as the plunge in margins at its AB Sugar business hit performance.
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NewsMedia Bites 24 April: Sainsbury’s/Asda, Majestic Wine, Coca-Cola
The Competition and Markets Authority will read the last rites for the proposed Sainsbury’s/Asda merger on 25 April, writes The FT.
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NewsCoca-Cola reports “solid” start to the year with 5% sales uplift
The Coca-Cola Company has posted net revenue growth of 5% in the first three months of the year, representing an “encouraging” first quarter performance.
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NewsOcado begins deliveries from new temporary warehouse in Andover
Previously Ocado had been relying on its other three CFCs, in Erith, Hatfield and Dordon
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NewsBritish Land sells 12 Sainsbury's superstores to reduce retail exposure
British Land has agreed to sell 12 superstores from its joint venture with Sainsbury’s for £429m to Realty Income Corporation as part of its strategy to reduce its exposure to retail.
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NewsMedia Bites 23 April: Kraft Heinz, Easter footfall, Casino
Anheuser-Busch InBev executive Miguel Patricio will replace Bernardo Hees at the beginning of July as chief executive of Kraft Heinz
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NewsUK fish and dairy exporters brace for US tariff impact
Products set to be hit by US tariffs include cheese, butter and fresh fish
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NewsNestlé beats first quarter sales expecations on strong US and Brazilian growth
Consumer giant Nestlé posted first quarter organic growth ahead of expectations after a strong performance in the US and Brazil.
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NewsPricecheck secures £14m funds to boost stock volumes
The Sheffield-based business said it would use the funds to improve its offering in skincare, fine fragrance and alcohol
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NewsGrown Up Chocolate Company enters administration
The Essex-based supplier appointed administrator Leonard Curtis on 11 April
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NewsTyphoo falls to £20m loss as tea and operating costs soar
The tea supplier suffered from a sharp rise in the cost of key raw materials
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NewsOddbins in rescue talks as scale of collapse is revealed
Oddbins blamed its collapse largely on Brexit when news of its turmoil hit headlines earlier this year
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NewsBrexit supplier stockpilers 'in limbo' after delay
Suppliers face having to decide whether to run down stockpiles in the face of the six-month delay
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NewsCity snapshot: Unilever’s first quarter sales beat expectations
Unilever has topped City expectations with underlying sales growth of 3.1% in the first three months of the year. Plus, Nestlé posts first quarter organic growth ahead of forecasts this morning and all the rest of the latest news from the City.
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NewsMedia Bites 18 April: M&S, PepsiCo, Danone
Marks & Spencer has slashed prices on almost 500 of its most popular food items as it scrambles to win back customers and arrest its declining sales.