Finance news – Page 416
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NewsCity snapshot: Ocado profits tumble as it continues to invest in growth
First-half sales at Ocado rose 12.5% to £713.8m but profits at the online grocer fell almost 20%, basket sizes continued to decline and the debt pile ballooned. Plus, Booker updates on its first quarter ahead of AGM, and grocery inflation continues to rise, according to the BRC-Nielsen shop prices index.
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NewsInnocent back in the black as exports make up majority of total sales
Innocent also bounced back into the black in 2016, with profits of £8.5m compared with a £700,000 loss in the previous year as it increased investments in European markets and NPD.
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NewsAldi readies €5bn European store revamp programme
The speculation comes amid fierce competition in the UK driven by the German discounter and rival Lidl, and the reported investment across Denmark, France and Benelux countries would mark its largest ever to date
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NewsBenny Higgins to step down as head of Tesco Bank
Higgins steered the bank through last year’s £2.5m cyber attack…
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NewsSainsbury's-Nisa deal 'risky' without McColl's renewal
Analyst says McColl’s is in “strong strategic position” as it contract with Nisa comes up for renewal.
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NewsMedia Bites 4 July: Tesco, Carlsberg, Weetabix
Tesco is expected to pay an average of £400 each in compensation to about 10,000 shareholders over its 2014 accounting scandal, writes The Times.
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NewsCity snapshot: Sainsbury’s first quarter like for like sales jump 2.3%
First quarter like-for-like sales (excluding fuel) at Sainsbury’s have surged by 2.3%
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NewsAround Noon expands UK presence with Chef in a Box deal
The purchase of Chef in a Box from Donegal Investment Group will allow Around Noon to gain a strong foothold in greater London and provide a platform for further UK expansion.
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NewsOle & Steen set for UK roll-out under new ownership
Danish bakery chain Ole & Steen, which opened its first international store in London at the end of 2016, has been acquired by a new private equity owner for an undisclosed sum.
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NewsMedia Bites 3 July: McColls/Sainsbury's/Nisa, Pizza Express, Innocent
McColls has emerged as the unlikely kingmaker in Sainsbury’s swoop on Nisa, according to the weekend’s papers.
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NewsCity snapshot: Danone agrees $875m Stonyfield sale to French dairy rival Lactalis
Danone has agreed to sell US organic yoghurt brand Stonyfield to its French rival Lactalis for $875m (£672.5m)
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News‘Business as usual’ for Premier Foods despite merger claims
The Mr Kipling owner responded yesterday to the WSJ’s claim it was exploring radical options
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NewsCity snapshot: Nisa moves back to profit despite sales slide
Sainsbury’s target Nisa moved back into profitability in its last financial year despite a 2.6% fall in sales. Plus, UK consumer confidence slides post-election, Tayto buys second vending machine business and all the rest of the latest news from the City
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NewsMedia Bites 30 June: Walgreens Boots Alliance, Tesco/Booker, Greene King
Stefano Pessina’s ambition to turn Walgreens Boots Alliance into a global drugstore group was dealt a blow by US regulators after he was forced to scrap a $17.2 billion takeover of Rite Aid, writes The Times.
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NewsMBO team at Thomas J Fudge's moves on following review
The management team behind a buyout at Thomas J Fudge’s Remarkable Bakery have sold their stakes and left the brand amid a shake-up by private equity backer Livingbridge, The Grocer can reveal.
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NewsGreene King toasts growth but warns over economic pressures
Greene King has posted a 6.9% rise in annual revenues to record high of £2.22bn in the year to 30 April 2017, but warned over the UK’s economic prospects.
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NewsCity snapshot: Tesco/Booker request swift move to in-depth competition investigation
Tesco and Booker have requested that the Competition and Markets Authority fast track its investigation into deal to a more in-depth phase 2 investigation. Plus Greene King raises revenues despite “demanding backdrop”, DS Smith swoops for US packaging firm and all the rest of the latest news from the City
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NewsMedia Bites 29 June: Tesco, Co-op Bank, Ocado
Tesco’s surprise decision to axe 1,200 head office jobs is heavily covered in the morning papers.
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NewsTesco to axe 1,200 jobs at its head office
A quarter of staff at its Welwyn Garden City HQ are facing redundancy, a week after Tesco announced 1,100 jobs were to go at its Cardiff call centre
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NewsCoffee giants vow to act on faecal bacteria in ice
A BBC investigation found ice from Costa Coffee, Starbucks and Caffè Nero contained bacteria from faeces