Finance news – Page 51
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NewsKraft Heinz names Carlos Abrams-Rivera as CEO
The US food giant has announced current North American chief Carlos Abrams-Rivera will become its new CEO
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NewsHarrods hails ‘year of recovery’ after strong results
Harrods had outperformed the wider market due to its long-standing relationship with brands and customers, said CFO Tim Parker
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NewsMedia Bites 16 Aug: M&S, Asda, supermarket inflation
Marks and Spencer is on track to re-enter the FTSE 100 after the UK retailer upgraded its annual profit outlook thanks to robust sales
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NewsCity snapshot: Food price inflation register sharp slowdown in July
A sharp slowdown in soaring food and drink prices helped drive inflation down to a 17-month low in July, according to new government data. Plus, Glanbia appoints a new CEO after Siobhán Talbot retires and also reports first-half results, and Carlsberg raises profit guidance
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NewsAsda sales up 9.6% year on year as Just Essentials range drives growth
Sales were up 9.6% year on year, including a 14.7% increase in own brand sales
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NewsFrozen cocktail brand Wavey Ice hits £450k crowdfunding goal
The brand said it was forecasting sales to exceed £1.1m this year, based on its year-to-date figures
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NewsCity snapshot: Easing inflation drives grocery sales growth slowdown
UK grocery sales growth fell back sharply in July as price inflation continues to ease, according to the latest market share figures from Kantar
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NewsMedia Bites 15 August: Wilko, fuel prices, Harvey Nichols
Wilko continnues to dominate the headlines this morning.
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NewsCheese exporter Somerdale acquired by Barber’s Group
The agreement will see the cheese exporter become an subsidiary of Barber’s Group to “maintain its position as a leading exporter”
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NewsPip & Nut wins £1m backing from Greater London Investment Fund
Natural nut butter brand Pip & Nut has received a £1m funding boost to underpin NPD and further growth
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NewsWilko collapse: retailers rally to support affected staff
A number of supermarkets have invited Wilko employees to apply for roles
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NewsCity snapshot: Clean Food Group completes £2.3m fundraise
UK biotech company Clean Food Group has announced it has raised £2.3m to fund the commercialisation of its oils and fats alternatives technology
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NewsMedia Bites 14 August: Unilever, Wilko, John Lewis Partnership
The new chief executive of Unilever has pledged to look at its decision to continue operating in Russia “with a fresh pair of eyes”
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NewsFood and drink M&A boosted by distressed deals and sunnier economic outlook
The quarterly food and drink M&A report from Grant Thornton found UK industry deal volumes rose for the third consecutive quarter in the three months to the end of June
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NewsCity News: Deliveroo shares jump on profits upgrade
Deliveroo shares were on the up on Thursday despite the takeaway giant cutting its growth forecast, as the City reacted approvingly to increased revenue from fewer customers
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NewsCity snapshot: Recession fears ease as UK GDP jumps 0.5% in June
UK GDP grew by an unexpectedly strong 0.5% in June to take overall growth for the second quarter to 0.2%
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NewsMedia Bites 11 August: Wilko, Deliveroo, Aldi
UK discount retailer Wilko has collapsed into administration after rescue talks with prospective suitors failed
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NewsWhitby Seafoods acquisition of Kilhorne Bay under CMA scrutiny
The scampi company planned to acquire Northern Ireland-based Kilhorne Bay
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NewsCity snapshot: Deliveroo ups earnings guidance despite slowing growth
Deliveroo has upgraded its profit guidance for the year despite falling order numbers amid “challenging macroeconomic conditions”
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NewsMedia Bites 10 August: Orange juice, Wilko, CCH
Orange juice futures have hit a record high after hurricanes and disease devastated citrus crops in Florida, raising the prospect of rising soft drink prices