Finance news – Page 446
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NewsWhitbread announces Costa spin-off plan
Whitbread has announced its intention to demerge Costa following pressure from activist American investors.
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NewsMedia Bites 25 April:John Lewis Partnership, Walmart, Coca-Cola
A little less than two thirds of a key council of John Lewis Partnership employees backed a proposal last May to support chairman Sir Charlie Mayfield’s “leadership and the continuing progress of the partnership” in its first secret ballot in more than a decade.
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NewsCoca-Cola Co buoyed by Zero Sugar's double digit growth in first quarter
Increasing sales of healthier soft drinks buoyed Coca-Cola in the first quarter, as it recorded volume growth of 3%.
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NewsCity snapshot: CMA clears £137.5m Co-op deal with Nisa Retail
The Competition and Markets Authority (CMA) has ruled on the proposed £137.5m merger of The Co-operative Group with Nisa Retail, which it said did not give rise to competition concerns.
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NewsMedia Bites 24 April: Whitbread, The Co-op, Kimberly-Clark
The City will focus on the language Whitbread chief executive Alison Brittain uses tomorrow when she announces the Costa Coffee owners’ full-year results in light of activist investors Sachem Head’s and Elliott Capital Advisors’ pressure for a split
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NewsReal Good Food completes sale of ingredients arm to address losses
Cake and decorations specialist Real Good Food has sold its ingredients business Garrett’s as part of its cost-reduction efforts.
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NewsVaping business Supreme reveals stock market float plans
E-cigarette liquid specialist Supreme Exports has announced its intention to start trading on the London Stock Exchange
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NewsCo-op's Nisa takeover gets green light from the CMA
The Co-op now expects the deal to be fully completed early next month, after Competition & Markets Authority waved through the £137.5m takeover
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NewsEuro Garages enters US as Kroger forecourts deal goes through
The forecourt operator struck a £2.2bn deal with retail giant Kroger to acquire its store network in February
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NewsCity snapshot: English wine exports help Chapel Down sales jump 15%
Chapel Down has reported year-on year sales up 15% from £10.2m to £11.8m and continuing EBITDA up 29% from £750,000 to £968,000. Plus, YO! Sushi has bought Taiko Foods, a supplier of sushi products to the supermarket sector, as part of its plan to create a global multi-format and multi brand sushi business and all the rest of the latest news from the City.
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NewsMedia Bites 23 April: Yo! Sushi/Taiko Foods, Young’s Seafood, Consumer confidence
Restaurant group Yo! Sushi is poised to announce the purchase of Taiko Foods, a supplier of suishi, Asian food-to-go and dim sum to UK retailers, including Waitrose and Costco.
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NewsReckitt Benckiser tumbles on weak first quarter growth
Household goods giant Reckitt Benckiser (RB) fell sharply as modest first quarter sales growth failed to meet analysts’ estimates.
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NewsConcerns over pricing pressures in major Unilever markets
A €6bn gift to investors and better than expected organic growth were not enough to butter up Unilever investors
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NewsBrakes sales rise on Sysco takeover but ebit profits fall 30%
Profits were down 30% pro rata as the business comes under pressure from rising costs and multiple changes in its leadership
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NewsCity snapshot: Reckitt Benckiser like-for-likes up 2% in first quarter
FTSE 100 consumer goods giant Reckitt Benckiser has posted 2% like-for-like sales growht in the first three months of the year, despite weak sales of its Scholl and Dettol brands. Plus, Brakes’ first financial accounts under the ownership of US food distribution giant Sysco show a 30% fall in pro-rata operating profits and all the rest of the latest news from the City.
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NewsMedia Bites 20 April: Kit Kat, Pinnacle Foods, Kraft Heinz
The shape of Kit Kat’s four-finger bar is poised to lose its European Union-wide protected trademark status, reports The Guardian
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NewsP&G quarterly sales up 1% as it seals $4.2bn Merck consumer health acqusition
Sales at US household goods manufacturer Proctor and Gamble (PG) have grown 1% year-on-year in the third quarter, as it announced the $4.2bn purchase of Merck’s consumer health arm
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NewsDried grape prices up after short crops in California & Iran
This in turn is pushing up UK prices for raisins and EU prices for sultanas
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NewsBig Drop to quadruple production on back of huge supermarket win
Award-winning low-alcohol craft brewer is searching for investors after securing massive store deal
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NewsYoung's Seafood officially put up for sale by PE owner
Announcement of sale process follows months of speculation over the future of seafood giant