Finance news – Page 381
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NewsCity snapshot: Tesco prices rising faster than industry rivals - GPI
Tesco continued to raise prices faster than its supermarket peers last month, according to the latest Grocer Price Index. Plus, Tesco Clubcard operator Dunnhumby has plunged to a £33m pre-tax loss after a new agreement with its parent company cost the data arm an extra £30m; and Poundstretcher sales fall 7.5% to £397.4m as the chain continued to shrink its store estate
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NewsAsda joins retailers hiking banana prices as supplies tighten
The supermarket has hiked prices across several banana packs…
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NewsSurging gin sales put tonic beyond the £100m mark
Brits bought an extra £31.6m worth of tonic over the last year, a 37.2% uplift [Kantar]
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NewsTesco fraud trial told former MD Bush won't be giving evidence
At the start of Chris Bush’s defence, Southwark Crown Court was told by his barrister he’d opted not to give evidence
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NewsWalmart drops Stores from its name to become Walmart Inc
The US giant will cease to trade as Wal-Mart Stores Inc and become Walmart Inc to better reflect its ecommerce business
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NewsCity snapshot: Coca-Cola HBC appoints CEO to succeed Dimitris Lois
European Coke bottler Coca-Cola HBC has appointed a new CEO to succeed Dimitris Lois, who died in October. Plus, strong first-half results from packaging giant DS Smith; and Irn-Bru maker AG Barr adds Natures Way Foods CEO Susan Barratt to its board as independent non-exec
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NewsMedia Bites 7 December: Whitbread, Unilever, Steinhoff, Hammerson/Intu
An American activist investor has taken a 3.4% position in Whitbread, prompting speculation that it will press for a break-up of the Premier Inn and Costa Coffee operator.
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NewsForecourt contingencies swing into place in wake of P&H demise
Oil giant Shell has admitted there could be the “possibility of interruption” to the supply of products…
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NewsCity snapshot: Nestlé buys Canadian supplement company Atrium for $2.3bn.
Nestlé (NESN) has agreed a deal to buy privately-held nutritional health products producer Atrium Innovations to expand its global consumer goods business. Plus Poundland owner Steinhoff’s shares plunge amid accounting irregularity, £3.4bn European shopping centre merger, supermarket shares surge and all the rest of the latest news from the City.
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NewsMedia Bites 6 Dec: Supermarket shares, Nestlé, Fever-Tree
Tesco surged up the FTSE 100 after analysts told investors to add the stock to their trolley.
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NewsCharles Gibb appointed North America CEO at Fever-Tree
The posh mixer brand has established a New York office, 10 years after it entered the US
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NewsRetail sales rise in November but Black Friday fails to boost non-food
Retail sales were up 0.6% on a like-for-like basis in November according to the latest BRC- KPMG Retail Sales Monitor, but in-store sales of non-food items fell despite the Black Friday sales event.
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NewsMedia Bites 5 Dec: Black Friday, P&H, McColl's
“Black Friday sale failure so hard to swallow” is the headline in The Times this morning on the disappointing in-store sales figures for Black Friday.
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NewsNisa joins coalition of wholesalers supplying Costcutter
Nisa has also picked up temporary McColl’s deal in the wake of the P&H collapse
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NewsPalmer & Harvey sought to delay dividend payments as losses mounted
Collapsed wholesaler Palmer & Harvey renegotiated its onerous dividend payments to management to help mitigate rising losses according to its most recently filed accounts.
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NewsEuro Garages picks up 1,000 German Esso service stations
The deal means EG Group will operate about 3,500 stations across Europe…
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NewsHain Celestial buys UK sweetener producer Clarks
Hain Celestial has announced it has agreed to acquire Welsh sweetener supplier Clarks to sit within its wholly-owned Hain Daniels UK business.
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NewsNisa to supply McColl's stores in wake of P&H collapse
Nisa’s new short-term contract begins today
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NewsCity snapshot: McColl’s annual sales rise 19.1% but like-for-like sales slip in fourth quarter
McColl’s Retail Group (MCLS) has reported a 19.1% uplift in annual sales following the acquisition of 298 Co-op convenience stores, but like-for-like growth tailed off towards the end of the year. Plus a look ahead at finance news this week and all the latest news from the City.
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NewsMedia Bites 4 Dec: Food waste, Palmer & Harvey, Amazon, Simply Fresh
East of England Co-op will become the first major retailer to sell food beyond its “best before” dates.