Finance news – Page 490
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NewsWaitrose profits slump as John Lewis pension costs bite
Waitrose pre-tax profits slumped 17.4% last year as the supermarket slugged it out in a brutal price war with the big four and the discounters.
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NewsPurity presses ahead with £4m investment despite Brexit shock
The investment is intended to “propel the business forward”
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NewsCity snapshot: Hershey rejects $23bn Mondelez bid
Hershey said last night it had “unanimously” rejected an initial takeover approach from Mondelez International
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NewsMedia Bites 1 July: AB InBev, Hershey/Mondelez, BHS
AB InBev has secured regulatory clearance for its SABMiller takeover in South Africa, but the EU has launched an investigation into its position in Belgium.
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NewsBrexit: loss of launchpad role puts UK food deals at risk
Global players may no longer view a UK that is outside the single European market as the ideal beachhead for an expansion
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NewsJeff van der Eems to aid Continental Bakeries in biscuits
It comes as Goldman Sachs and investment firm Silverfern completed the acquisition of Continental Bakeries from NPM Capital
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NewsMy Local's CEO apologises as company enters administration
My Local has closed 90 stores this week while 32 remain open
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NewsBernard Matthews on the block as owner puts up 'for sale' sign
The private equity owner of Bernard Matthews has put the turkey giant up for sale, PwC has confirmed.
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NewsCity snapshot: Consumer confidence down pre-Brexit
GfK’s consumer confidence index remained in negative territory last month as the public worried about the UK’s economic prospects even before the vote to leave the EU
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NewsMedia Bites 30 June: My Local, Greene King, Consumer confidence
Convenience store chain My Local officially entered administration last night, reports say.
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NewsCrawshaw appoints McMeikan as like-for-like sales fall
Like-for-like sales at value meat retailer Crawshaw dipped as footfall on the street decline in recent months. It also appointed Brakes CEO Ken McMeikan as a non-executive director
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NewsMenzies Distribution workers vote to strike over 'pitiful' pay offer
Unite members voted 86% in favour of strike action and 91% for industrial action short of a strike
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NewsMedia Bites 29 June: My Local, Ocado, Brexit, Molson Coors, BHS
Troubled convenience chain My Local has closed almost 90 stores in the past few days and let more than 1,200 workers go as it faces administration, according to this morning’s papers.
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NewsCity snapshot: Greene King sales fizz but boss worries about Brexit impact
Revenues at Greene King have risen 58% to £2.1bn in a “transformational” year for the brewer and pub group in which it acquired the Spirit Pub Company
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NewsOcado claims Amazon Fresh launch has had ‘absolutely no impact’ on its business
Ocado continued to perform very strongly in the 69 postcodes where Amazon Fresh now operates, CEO Tim Steiner said
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NewsUlf Mark Schneider to take up Nestlé chief executive role
Schneider will be the first outsider since 1922 to lead the food and drink giant
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NewsEU protected food names under threat after Brexit vote
Defra urged to act quickly to safeguard scheme
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NewsBrexit: no immediate impact on grocery sales, say Kantar and Nielsen
Precedent suggests there won’t be a significant impact, experts say
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NewsOcado sales increase but still no overseas deal on the horizon
Ocado first-half revenues rise 15.1% to £584.2m but there is still shows no sign of a long-awaited deal with an international partner
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NewsGrocery market goes into decline for first time in 2016
Sales were down 0.2% in the 12 weeks to 19 June, Kantar Worldpanel data shows