Finance news – Page 389
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NewsCity snapshot: Mondelez beats expectations with solid third quarter
Shares in Cadbury owner Mondelez jumped 4.3% in after hours trading after the global snack group reported a stronger than expected third quarter. Plus, UK consumer confidence shrinks in October, FTSE falls on interest rate rise expectation and all the rest of the latest news from the City.
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NewsMedia Bites 31 Oct: Asda, Mondelez, Sugar
Asda has ousted its latest chief executive as it fights to win back sales from rival supermarkets, writes The Daily Mail.
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NewsWooHa to expand US exports thanks to £700k funding
Scottish start-up WooHa Brewing Company is eyeing further exports in the US after securing £700,000 from an SME fund.
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NewsCMA launches investigation of Refresco £1bn acquisition of Cott
Refresco’s $1.3bn (£1bn) acquisition of the bottling operations of Canadian drinks manufacturer Cott is to be scrutinised by the UK monopoly watchdog.
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NewsRoger Burnley to become Asda president and CEO
Burnley has been Asda COO and deputy CEO since October 2016 from 1 January. Clarke will continue in a new role with Asda’s parent-company Walmart after a break
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NewsCity snapshot: Tesco and Booker expect CMA decision on £3.7bn merger this week
The Competition and Markets authority is expected to unveil its provisional findings on the £3.7bn Tesco takeover of wholesaler and cash & carry operator Booker this week. Plus, the CMA is considering whether the £1bn takeover of Cott’s bottling operations, which includes the business in the UK, by Refresco will lessen competition in the sector.
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NewsMedia Bites 30 October: Planet Organic, Tesco/Booker, palm oil
London-based grocery chain Planet Organic is preparing a sale amid a “healthy-eating” craze, according to the weekend’s papers.
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NewsP&H enters exclusivity period over sale to Carlyle Group
The wholesaler has announced it is looking to secure significant capital investment through the deal
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NewsCity News: AB InBev merger synergies compensate for underperformance
The world’s biggest brewer AB InBev produced mixed third quarter results on Thursday…
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NewsYorkshire Meatball joins list of collapsed crowdfunded brands
The business, run by father and son David and Gareth Atkinson, raised £123,000 from 220 investors on Crowdcube last April
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NewsMister Free'd founders sell a stake for £750k seed funding
The healthy snack brand will use the money to fund an “aggressive” marketing strategy, expansion of its team and for NPD
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NewsPots & Co takes top spot from BrewDog in Fast 50 list
Soaring demand for its indulgent desserts, as well as lucrative airline deals, helped sales more than double last year
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NewsCity snapshot: Pots & Co unseats BrewDog from top of The Grocer Fast 50
Pots & Co has knocked BrewDog off the top of The Grocer Fast 50 ending the brewer’s three year reign at the top of the list of the UK’s fastest growing food and drink firms. Plus The Yorkshire Meatball Co has become the latest crowdfunded grocery brand to collapse, healthy snack brand Mister Free’d has sold a minority stake for £750,000 and all the rest of the latest news from the City.
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NewsMedia Bites 27 Oct: UK retail sales, AB InBev, Amazon
More retailers reported falling sales this month than at any point since March 2009 as British shoppers cut back on spending in food shops, department stores and furnishing specialist.
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NewsWine prices to be driven up by global production slump
Unfavourable climate conditions, including particularly bad weather in Western Europe, saw production drop 8.2%
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NewsFlorette launches resealable beetroot pouch
The 300g ready-to-eat fridge pack of peeled and steamed beetroot went on sale in Sainsbury’s last week…
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NewsUK food & drink bodies urge Hammond to reform business rates
Twelve executives have urged the Chancellor to “take action” as £1.1bn tax hike looms
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News'It's time to change' says 2 Sisters boss as he faces MPs over chicken scandal
Ranjit Singh also offered to pay for FSA inspectors as he seeks to rebuild confidence in his company following the scandal
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NewsMedia Bites 26 October: BAT, 2 Sisters, Poundland, Coca-Cola, Refresco
The papers examine the outcome of the capital markets day at British American Tobacco.