Finance news – Page 3
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Media Bites 16 August: Brexit border controls, Starbucks, WH Smith
Customs agents and businesses have complained to the government that they have been charged for checks on goods that never took place
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Jolly Good Beer collapse piles further pressure on independent producers
Many suppliers have already confirmed they are out of pocket
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Blockhead set for relaunch thanks to rescue deal by Peppersmith owner
Functional chewing gum brand Blockhead has been revived in a rescue deal by the owners of sugar-free gum maker Peppersmith, The Grocer can reveal
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City snapshot: C&C Group forecasts unchanged despite June washout
Drinks supplier and distributor C&C Group has insisted it remains on track to hit annual financial forecasts and bounce back from a troubled period despite poor weather in June
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Media Bites 15 August: Mars/Kellanova, Asda, Carlsberg
A combination of Mars and Kellanova in a $36bn mega-deal attracts plenty of attention in this morning’s papers
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Nelson Peltz’s Trian sells down part of Unilever holding for £181m
Activist investor Nelson Peltz’s hedge fund Trian Partners has sold off a chunk of its holding in Unilever for close to £181m, according to filings published on the London Stock Exchange today
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Mars agrees blockbuster $36bn takeover of Kellanova to create snacking behemoth
The all-cash offer marks the biggest deal in Mars’s history, dwarfing the privately owned US group’s $23bn acquisition Wrigley in 2008
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Distil seeks funds after profit warning and collapse in sales
Spirits group Distil is exploring funding options to meet an unexpected shortfall in its finances after it issued a profits warning for 2024
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Mona Island Dairy collapsed owing nearly £40m, administrators report reveals
At the time of the administrators report, Mona Island Dairy had 201 company creditors, owed £37.2m
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Co-op and Wincanton extend 30-year partnership deal
Wincanton is UK retail’s leading supply chain provider
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Media Bites 14 August: Mars, Starbucks, Asda
Mars, the confectionery, food and petcare giant, has reportedly reached an agreement to acquire Pringles and Pop-Tarts maker Kellanova
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City snapshot: Carlsberg upgrades guidance despite European challenges
Carlsberg has lifted profit expectations after “an exciting year” for the Danish brewer, despite volumes being held back by bad weather in Europe. Plus, first-half results from Glanbia and Distil seeks new funds after revenues plunged 55%
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Huel and Zoe ads featuring Steven Bartlett banned for ‘misleading’ consumers
The Advertising Standards Authority ruled the two nutrition brands had failed to disclose their commercial relationships with the Dragons’ Den star in paid-for Facebook promotions and banned the adverts from appearing again in their current form
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FieldGoods secures six-figure investment to expand distribution
The company will use the £750k – raised from angel investors – to boost brand awareness, back new product development and expand the team
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Nestlé hires new directors for the UK & Ireland
Nestlé has appointed a new corporate affairs & sustainability director and head of finance for the UK and Ireland
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City snapshot: Grocery sales growth rises as inflation edges back up
Grocery sales growth rose by 3.8% in the four weeks to 4 August as food inflation edged back upwards for the first time in more than a year
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Media Bites 13 August: Brexit, JDE Peet, Kantar
Vegetable growers in the UK have said crops could be adversely hit this year after post-Brexit border changes resulted in delays to seed imports
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Adamo Foods raises £2m to bring ‘ultra-realistic’ steak alternative to market
Food tech startup Adamo Foods has closed a $2.5m (£2m) seed funding round to back its mission to introduce the first ultra-realistic beef steak alternative made from fungi
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Media Bites 12 August: Asda, Carlsberg/Britvic, junk food taxes
Stuart Rose, the chairman of Asda, has said he is “embarrassed” by the supermarket’s declining market share and has called on owner Mohsin Issa to step back
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City snapshot: Sainsbury’s boss calls on government to keep business rates promises
Sainsbury’s has teamed up with the USDAW union to call on the new Labour Government to deliver on its promise to reform business rates