Finance news – Page 350
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NewsMedia Bites 10 May: Walmart/Flipkart, Greggs, Retail sales
Walmart has confirmed its agreement to by 77% of India’s largest online retailer, Flipkart, in a $16bn (£12bn) deal that puts the US giant head-to-head with Amazon.
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NewsCompass Group shares slide on profits drop
Compass Group has reported a “strong” first-half but subdued trading on the Continent offset good growth in the UK.
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NewsOcado unveils first robot picker at its Andover site
The retailer is on a path towards “100% robot picking” says technology chief
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NewsEngland to re-examine case for minimum alcohol unit pricing
The policy came into force in Scotland at the start of this month after five years of legal challenges
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NewsCity snapshot: Weak customer footfall hits Greggs food to go
The big winter freeze knocked food to go in some of Greggs’ retail locations, impacting performance in the first quarter of the year. Plus, Compass Group has reported a “strong” first-half but subdued trading on the Continent offset good growth in the UK, AB InBev posts first-quarter revenue up 4.7% in the first quarter, updates from Imperial Brands, Ahold Delhaize and Henkel and the rest of the news from the City.
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NewsMedia Bites 9 May: Sainsbury’s, Price wars, BRC/KPMG
Sainsbury’s bosses have exercised share options worth £4.5m, the timing and size of which could raise eyebrows so soon after the Asda merger was announced
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NewsFormer Tesco online boss Ken Towle takes over as CEO of Nisa
Interim CEO Arnu Misra will remain for a transition period to ensure a smooth handover, the completion of the deal comes after a court in London agreed to grant the Co-op a scheme of arrangement on Friday
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NewsJason Marshall joins BrewDog as CFO ahead of growth push
The brewer claims it is preparing for “a period of accelerated domestic and international growth”
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NewsCity snapshot: Nestlé clinches global coffee deal with Starbucks
Nestlé has confirmed an agreement granting it perpetual rights to market Starbucks consumer and foodservice products globally outside of the company’s coffee shops. Plus, Wynnstay Group has appointed a new CEO, PureCircle launches Coca-Cola Stevia No Sugar, and a look at the City diary for the rest of the week.
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NewsMedia Bites 8 May: Sainsbury’s/Asda, Waitrose/Amazon, Nestlé/Starbucks
Up to 2,500 jobs in supply chains could be jeopardised by Asda and Sainsbury’s proposed merger, the New Economics Foundation has warned.
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NewsNestlé Purina looks to follow Nespresso model with Tails.com
Tails.com, the direct-to-consumer dog nutrition startup, looks set for major expansion after being acquired by Nestlé Purina PetCare.
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NewsCity snapshot: Grocery inflation rises as soft drinks prices spike
Supermarket price inflation rose again last month as the advent of the ‘sugar tax’ caused a spike in the price of soft drinks. Plus, packaging group Smurfit Kappa Group posts underlying first quarter growth of 7%, Kellogg’s organic net sales rise 0.6% in Q1 and all the rest of the latest news from the City.
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NewsMedia Bites 4 May: Sainsbury’s/Asda, Tesco, Brexit
MPs have written to the Competition and Markets Authority (CMA) requesting more information about its proposed scrutiny of the Sainsbury’s/Asda deal.
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NewsMinimum unit pricing hikes cost of booze in Scotland
Shoppers this week faced price rises on more than 600 booze SKUs in Scotland
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NewsAlmost 45,000 retailers in "significant financial distress" after difficult first quarter
The number of retailer under “significant financial distress” in the UK has increased 21% following a quarter of decreased consumer spending
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NewsThe Collective wins New Zealand funding for global expansion
Yoghurt brand The Collective has secured funding from a New Zealand private equity house
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NewsCity snapshot: Kerry volumes up 3.7% in first quarter
Global taste & nutrition and consumer foods group Kerry has posted 3.7% growth in business volumes in the first quarter of 2018 and reaffirmed its earnings guidance for the full year. Plus, organic net sales fall again at Kraft Heinz, food inflation edges up according to BRC-Nielsen and all the rest of the latest news from the City.
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NewsMedia Bites 3 May: Sainsbury’s/Asda, Ocado, Kraft Heinz
UBS research that found that two in five of Asda’s largest stores are a five-minute drive from a Sainsbury’s has increased the likelihood of the £7.3bn merger facing close scrutiny by the Competition and Markets Authority.
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NewsEasyFood takeaway delivery service in talks with grocers
The service was launched in Birmingham last week and already has 200 subscriber restaurants
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NewsAdjudicator to cover Amazon and Ocado within a year
The Competition & Markets Authority has written to a raft of retailers in the past week, as GSCOP looks set to expand the existing list of 10 supermarkets