Finance news – Page 447
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NewsWhitbread under pressure to spin off Costa Coffee
Whitbread under pressure from US investor to spin off Costa Coffee chain
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NewsCity snapshot: Unilever's first quarter underlying sales grow 3.4%
Unilever has posted first-quarter underlying sales growth of 3.4% to reach an overall turnover of €12.6bn (£11bn), driven by 4.3% volume growth excluding spreads. Plus, Nestlé has reported a “solid start to the year” with first quarter organic growth of 2.8%, Pernod Ricard boosted by emerging markets and all the rest of the latest news from the City.
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NewsMedia Bites 19 April: M&S, Unilever, Pernod Ricard
The role of Marks & Spencer’s executive director of customer, marketing and M&S.com, Patrick Bousquet-Chavanne has been axed “as part of a massive shake-up”.
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NewsIceland denies temperature control problems ahead of exposé
“We are entirely refuting every piece it,” says Iceland joint MD Nigel Broadhurst
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NewsHeineken’s US and Europe Q1 sales falls mitigated by developing markets
Heineken has posted 4.3% growth in first quarter organic beer volumes, despite plunging sales in the US and Western Europe as the cold weather hit sales in its major markets.
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NewsUK inflation falls to 2.5% but food inflation edges back upwards
UK inflation has fallen to its lowest rate in a year, though food price inflation edged up to a new high of 3.1%, according to the Office of National Statistics.
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NewsMoody’s downgrades Boparan on “deteriorating performance”
Moody’s cut the credit ratings of 2 Sisters owner Boparan after profits tumbled in the wake of a poultry food safety scandal
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NewsAnnual sales jump 8% at Tiptree maker Wilkin & Sons amid factory investment
Sales at Wilkin & Sons Limited, the maker of Tiptree jams and marmalades, jumped up 8% in 2017, with new product launches pushing top-line growth.
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NewsCity snapshot: Danone delivers strong start to year with 4.9% growth
Danone has reported a strong start to the year with a 4.9% increase in like-for-like sales growth in the first quarter. Plus, Rémy Cointreau reveals full-year organic sales growth of 7.2%, Heineken beer volumes up 4.3% in the first quarter and all the rest of the latest news from the City.
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NewsMedia Bites 18 April: Majestic Wine, M&S, ABF
Majestic Wine’s plans to invest more in expansion seem intentionally low-risk which has assuaged investors, writes the FT.
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NewsCredit Suisse downgrades consumer giants over stagnant sales prospects
Broker Credit Suisse has downgraded global fmcg giants Reckitt Benckiser and Kraft Heinz amid concerns a lack of product innovation and foreseeable sales growth will eat into earnings.
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NewsHop grower Brook House selling direct to brewers online
The Herefordshire grower is selling on the Lupulin Exchange, with plans for its own sales portal ‘in the near future’
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NewsDunbia to close Felinfach factory as lease is terminated
Some 34 jobs will be lost as a result of the closure. It follows warnings of job losses at Tulip and 2 Sisters during the past week
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NewsMajestic Wine warns of earnings hit as it looks to lure new customers
Majestic Wine plans to plough up to £12m into attracting new customers
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NewsEU sugar quota abolition hits profits at Associated British Foods
Associated British Foods’ sugar arm suffered a first half slump in sales and profits as sugar prices were hit by the abolition of EU quotas.
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NewsCity snapshot: First half pre-tax profits dive 30% at ABF
Associated British Foods has announced pre-tax profit down 30% to £603m on group revenue up 2% to £7.4bn in the 24 weeks to 3 March as profits dived in its sugar division. Plus, Majestic Wine plans to accelerate growth “by materially increasing investment in new customer acquisition” in 2019, a new CFO for Tate & Lyle and all the latest news from the City.
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NewsMedia Bites 17 April: Whitbread, Diageo, Jamie Oliver
Whitbread faces increasing pressure to pursue a demerger amid speculation that activist investor Elliott Advisors is preparing to buy further shares in the business.
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News£60m government fund to fight plastic pollution in the oceans
Prime Minister announces new £60m fund to fight plastic pollution in the oceans
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NewsRetailers suffer worst drop in footfall since 2010
Footfall was down 6% year on year in March, with the high street seeing an 8.6% drop
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NewsCarr's Group first half pre-tax profits jump 22%
Carr’s Group has reported a 22% increase in adjusted interim pre-tax profit from £9m to £10.9m on revenue up 13.2% from £176.8m to £200.1m.