Finance news – Page 437
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NewsMedia Bites 22 March: Inflation, Fever-Tree, Waitrose
News that inflation hit its highest level since 2013 dominates the business pages this morning. Plus, Fever-Tree eyes new markets after sales and profits fizz in 2016.
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NewsCity snapshot: General Mills suffers sales and profits slump
Sales plunged 5% to $3.8bn at General Mills in the third quarter as the US food giant struggled to adapt to changing consumer tastes.
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NewsApetito to boost manufacturing capacity with £31m investment
Wiltshire Farm Foods owner Apetito is to create 40 new jobs and grow its manufacturing footprint with a £31m investment in its Trowbridge, Wiltshire base.
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NewsFood & drink entrepreneurs set for export mission to Paris as Article 50 is set to be triggered
A delegation of independent food and drink entrepreneurs are set to explore the growing French taste for British produce in a trade mission to Paris next week - just two days before the triggering of Article 50.
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NewsSterling slump causes 14% drop in Coca-Cola European Partners' British sales
The recently formed Coca-Cola European Partners saw sales in Great Britain slide by 14% once translated into euros in 2016 as the collapse in the value of the pound hit reported revenues
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NewsAduna smashes £325k funding target as demand for African-inspired food and drink grows
Health food brand Aduna has hit its £325,000 crowdfunding target just two days after launching the campaign to raise cash for the next stage of growth.
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NewsGousto offers staff shares to 'create a culture of owners'
The one-off share option will be rewarded to Gousto employees who have worked for the company for at least six months
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NewsImperial Brands and JTI confirm Palmer & Harvey stake talks
According to Sky News, the tobacco giants are considering investing tens of millions of pounds into P&H…
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NewsUK food prices return to inflation according to official statistics
The price of UK food and non-alcoholic drinks rose 0.3% in February after 31 consecutive months of decline, according to the Office of National Statistics.
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NewsMedia Bites 21 March: Palmer & Harvey in talks with two tobacco giants over sale of stake
Two of the world’s biggest tobacco manufacturers are in talks about a deal to shore up the finances of Palmer & Harvey, according to reports. Plus, the rest of the day’s news, including Tesco international shake-up and Finsbury teaming up with mary Berry.
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NewsCity snapshot: Fever-Tree sales and profits continue to soar as UK growth accelerates
Revenues at posh mixer brand Fever-Tree fizzed another 73% higher in 2016 to £102.2m, driven by accelerating growth in its domestic UK, helped by a new listing with Asda.
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NewsHilltop Honey eyes expansion with £385k funding package
Welsh raw honey supplier Hilltop Honey has invested in a new manufacturing site and equipment to fuel growth after securing a £385k funding package.
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NewsFinsbury Food Group bets on Mary Berry to boost flat sales
Finsbury has turned to former Bake Off judge Mary Berry to sweeten sales with a new range of cakes as inflationary cost pressures squeeze the business.
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NewsTesco takes an axe to Heineken range in major reset
Cull includes Amstel, Sol, Tiger and most Fosters sub-variants, but no brand has been spared
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NewsTrevor Masters to leave Tesco and trigger international rejig
Tesco UK COO Tony Hoggett will become Tesco’s CEO for Asia..
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NewsProperty value of major supermarkets down £6.5bn in two years
Research by Saving Stream showed the property estates of Tesco, Sainsbury’s, Morrisons and Asda amounted to £37.8bn in 2016
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NewsCity snapshot: Five shops a day close in 2016 but trends improve post-Brexit
The equivalent of five shops a day closed on Britain’s high streets last year with a net loss of 1,650 shop during 2016, according to LDC
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NewsMedia Bites 20 March: Unilever, Takeover rules, Food labelling, Brazilian meat
Unilever is preparing a £6bn sale of brands including Flora and Stork as part of its response to the ill-fated takeover bid from Kraft Heinz.
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NewsManufacturing investment helps Sykes Seafoods post 9% annual sales rise
Manchester-based Sykes Seafoods has grown annual sales and profits after investment in its manufacturing base and a concentration on higher margin products.
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NewsSupermarket shorting on the rise despite retailer recoveries
Short trading in supermarket shares is picking up as worries mount over listed grocers coping with rising food prices