Finance news – Page 544
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NewsCity snapshot: Tate & Lyle reaffirms guidance after “encouraging” six months
Tate & Lyle has reaffirmed its full year earnings guidance in a six month trading statement this morning
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NewsDiageo and Heineken swap emerging markets assets in $780m deal
Diageo has agreed a $780.5m (£515m) three-part deal with Heineken to swap assets in emerging markets.
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NewsSABMiller rejects new £68bn takeover bid from AB InBev
The SABMiller board still has to formally consider the new offer made by AB InBev but indicated in a statement to the City on Wednesday morning (7 October) it was not minded to accept it.
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NewsTesco results – what the analysts say
Tesco today announced a sharp drop in first-half profits but also revealed a recovery in volumes. Here is what leading City and retail analysts had to say about the results
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NewsTesco’s first half profits halve as sales stabilise
Tesco’s first half reported opperating profits fell by more than half from £779m to £354m, but CEO Dave Lewis has hailed the “sustained improvement” in its trading performance.
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NewsCity snapshot: Tesco volumes up as like-for-like sales decline slows
Tesco has reported that volumes and transactions have grown during its first-half helping to slow the decline of like-for-like sales in the UK but its profits have halved. Alsp, AB InBev has tabled a £68.2bn improved offer for SABMiller; Diageo and Heineken have agreed disposals worth £515m in Jamaica, Malaysia, Singapore and Ghana; and Conviviality has completed its £200m reverse takeover of Matthew Clark.
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NewsThe Bite Group saved as Adelie Foods buys from administrator
Chilled food to go manufacturer Adelie Foods has bought Enniskillen sandwich and fresh food company The Bite Group from administrator Deloitte.
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NewsSABMiller reports “strong growth” amid bid rejection reports
SABMiller has issued a first half trading update today detailing its continuing growth in South America and Africa as media reports suggests AB InBev’s initial offer has been rebuffed.
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NewsMenu revamp helps drive Greggs’ third quarter sales up 4.9%
Like for like sales for the first three quarters are now 5.6% up year-on-year
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NewsAston Manor sales lose fizz as UK cider market declines
A declining UK cider market has taken the fizz out of sales at Frosty Jack manufacturer Aston Manor, but MD Gordon Johncox said the company was better placed than any other cider maker to continue to grow and develop the category.
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NewsCity snapshot: SABMiller highlights its strengths as it awaits AB InBev bid
Takeover target SABMiller has talked up its strengths as a global brewer and highlighted its “exceptional long-term prospects” in a trading update this morning. Plus Greggs shares climb again after third quarter sales growth.
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NewsMedia Bites 6 October: Ocado, Nestlé, 5p charge
Oocado goes on hiring spree ahead of Xmas; Nestlé and R&R are set to join forces to create an ice-cream giant; and supermarkets brace themselves for a flood of basket thefts as the 5p carrier bag charge comes into effect.
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NewsCallan Bacon owner expands UK presence with Stirchley Bacon deal
Irish pork processor M&M Walshe has acquired wholesale supplier Stirchley Bacon in a cross-border transaction creating a €120m (£88.7m) group.
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NewsWestons grabs more market share as sales and profits rise
Sales at Westons Cider have hit record levels as the group behind the Stowford Press, Henry Westons and Old Rosie brands grabbed more UK market share.
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NewsNestlé and R&R to merge ice cream businesses
Nestlé is in advanced talks to join forces with European ice-cream company R&R to create a frozen giant employing more than 10,000 staff and operating in 20-plus countries across the world.
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NewsTesco expected to reveal more profit downgrades
Profits at Tesco are predicted to have slumped by more than £500m in the first half, more profit downgrades expected by analysts.
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NewsMedia Bites 5 October: Tesco, AB InBev, Morrisons, Sainsbury's
A busy weekend for retail as the papers focus on the much-anticipated first-half results for Tesco, with Morrisons and Sainsbury’s also getting a look in, as well as the awaited takeover bid from AB InBev for SABMiller.
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NewsTata sees 9% slump in sales as Brits turn away from black tea
Tata Global Beverages GB suffered a 9% sales slump last year as it battled falling consumption of black tea in the UK
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NewsConviviality signs £4.3m fintech contract as Matthew Clark takeover completes
Conviviality Retail has signed a new contract with financial technology business Universe to provide point-of-sale, payment and encryption services. It comes as Conviviality’s £200m reverse takeover of wine and spirits supplier Matthew Clark cleared its final hurdle yesterday.
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NewsFor Aisha halal babyfood targets growth following rescue
Halal babyfood brand For Aisha is looking to expand across the UK and internationally