Finance news – Page 488
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NewsWessanen snaps up Mrs Crimble’s gluten-free brand
The organic food company behind the Clipper Tea, Kallo and Whole Earth brands has snapped up gluten-free cake maker Mrs Crimble’s.
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NewsRetail leaders urge government to prioritise business rates cut
Retail associations say threat to the economy posed by business rates has reached a “tipping point”
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NewsYoung's Seafood boss Pete Ward steps down
Ward will be replaced temporarily by Bill Showalter, CEO of parent company Young’s Seafood International Holdings
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NewsMedia Bites 11 July: Poundland, Asda, SAB Miller, Diageo, Fever-Tree, sugar tax, Brexit
Steinhoff is applying the finishing touches to a £600m-plus takeover bid for Poundland ahead of this Wednesday’s bid deadline; new Asda boss could “easily lose” new price war; and food and drink industry calls for sugar tax to be mothballed in wake of Brexit
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NewsCity snapshot: McBride upgrades profits forecast
Profits will be better than expected at McBride but sales are 2% lower
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NewsThe OC&C Global 50 rely on M&A activity to drive sales growth
The globe’s fmcg players are increasingly finding organic growth hard to come by
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NewsHiggidy goes into the red despite soaring sales of premium pies
Higgidy has recorded another year of double-digit sales growth
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NewsMars invests £23m into King’s Lynn manufacturing site
The investment is expected to create 28 jobs on the Uncle Ben’s Ready to Heat line
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NewsTate & Lyle blames EU for soaring losses
Annual losses have ballooned at Tate & Lyle, with the company blaming an EU sugar regime that favours its competitors
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NewsUK consumer confidence collapses after Brexit
UK consumer confidence has taken its biggest knock for 21 years after the UK’s vote to leave the EU
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NewsMedia Bites 8 July: M&S, ABF, Danone
The continuing troubles of Marks & Spencer in general merchandise dominate the headlines this morning after it reported a 8.9% like-for-like first quarter sales drop in the division.
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NewsButterkist owners selling up to cash in on popcorn boom
The private-equity owner of Butterkist is lining up a sale of the brand to capitalise on booming demand for popcorn…
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NewsDanone snaps up WhiteWave in $12.5bn deal for healthy future
Danone has agreed to buy US food group WhiteWave Foods for US$12.5bn in cash deal worth $56.25 a share.
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NewsPotato supplier Branston unveils new £1.7m production line
Potato supplier Branston has invested £1.7m in new facilities at its Scottish site
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NewsAnalysts call for Unilever 'Sprexit'
SocGen says business should sell up and exit struggling BSM category
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NewsM&S’ like for like food sales slip as general merchandise sales plunge
Retailer continues to struggle in its clothing and home division, which saw like for like sales plunge 8.9%
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NewsMedia Bites 7 July: Supermarket shares, Danone, Boots
“Supermarkets slump as fears of price war grow”, is the headline in The Times (£) this morning.
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NewsCo-op snaps up six My Local stores
My Local appointed administrators and closed 90 stores last week
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NewsBernard Matthews offloads German subsidiary to free up cash
Bernard Matthews has agreed to sell its German operations to Sprehe Gruppe to release cash for UK group
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NewsPureCircle grows profits but shares fall on future concerns
Stevia producer PureCircle is expecting profits to have jumped 60% in the past year as it strengthened margins and increased sales.