Finance news – Page 371
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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.
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NewsCity snapshot: Imperial Brands changes dividend policy and launches £200m share buyback
Imperial Brands has today moved away from its double-digit dividend payment to shareholders in favour of merely a “progressive” dividend policy and announced the commencement of a £200m share buyback scheme. Plus, new CFO for troubled Steinhoff Group and all the rest of the latest news from the City.
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NewsMedia Bites 8 July: Tesco, Premier Foods, Sainsbury’s/Asda
Tesco is to open 750 convenience stores in Thailand over the next three years in its first major overseas expansion under chief executive Dave Lewis.
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NewsOrganic growth makes return to the world’s largest fmcg players
The world’s largest fmcg companies have rediscovered organic growth as measures taken to address competitors, customers and shifting consumer tastes have begun to bear fruit.
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NewsSupermarket prices flat but signs of return to inflation
Supermarket prices have stayed flat year on year, but there are signs food price inflation could be creeping back into the market after close to a year of stagnant prices.