Finance news – Page 573
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NewsMedia bites 6 May: Sainsbury's, Tesco, M&S
sainsThe media examines Sainsbury’s first annual loss for a decade and the latest board departures at Tesco.
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NewsCity snapshot: Sainsbury's falls to first loss in a decade
Sainsbury’s (SBRY) has recorded its first annual loss in a decade after property writedowns and other one-off charges took their toll. Plus Poundland presses ahead with 99p Stores bid, Finsbury Food Group acquires Johnstone’s Just Desserts and all the latest from the City.
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NewsMetro Group’s sales rise 2.5% in second quarter but losses widen
German supermarket Metro Group has reported growing sales in its second quarter, but the negative impact of currency movement helped its losses expand to €394m during the period.
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NewsCity snapshot: Tesco knocks back £4bn approach for South Korean arm
Tesco has knocked back a £4bn for its South Korean business, according to weekend reports.
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NewsMedia Bites 5 May: Sainsbury's, Morrisons, Diageo
With Sainsbury’s full year results this week and Morrisons Q1 trading figures, there are plenty of predictions of doom in the papers.
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NewsPrice war set to drive M&A consolidation, warns Grant Thornton
UK M&A volumes held up in the first quarter of 2015, but deal values were significantly down as small-scale consolidation dominated the market.
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NewsMr Sherick's hits Crowdcube target after upping equity offer
The premium milkshake brand, founded by ex-M&S buyer Andrew Sherick, initially offered 16.97% for £250k via the Crowdcube funding platform, valuing the business at £1.47m
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NewsBirds Eye sales slump as Nomad steps in
Newly filed accounts at Companies House for the UK business revealed pre-tax profits plunged more than £20m (26%) to £62.7m on sales down 4.6% to £446.3m in 2014
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NewsMedia bites 1 May: EU redundancy ruling, Mike Coupe, John Menzies
A number of papers cover the failure of workers at collapsed retailers Woolworths and Ethel Austain to win compensation.
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NewsCity snapshot: Waitrose sees first quarter sales growth of 0.9%
The fall of Easter in 2014 continues to distort Waitrose’s weekly sales figures, with sales for the week to 25 April up 9.5% year-on-year
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NewsChicken and beef at forefront of fresh/chilled price deflation
Data from mySupermarket revealed average retail prices for fresh and chilled meat fell in March 2015, with fresh whole chickens showing the biggest year-on-year decline
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NewsJustin King the latest to face Egyptian prosecution
The former Sainsbury’s CEO was convicted last year, claims the Times, and although the conviction was overturned it is understood the Egyptians are appealing the acquittal
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NewsMedia bites 30 April: Morrisons, British American Tobacco, Napier Brown
Morrisons is to reintroduce staffed express checkouts in stores this week, while British American Tobacco may have to increase its offer for its Brazilian subsidiary.
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NewsCity snapshot: Consumer confidence at decade-long high
Consumer confidence remains at its highest level in a decade as we head into the final stages of the general election campaign
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NewsReal Good Food to sell Napier Brown sugar business for £34m
AIM-listed Real Good Food has agreed to sell Napier Brown to Tereos Group for £34m.
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NewsNichols builds out of home presence with Noisy Drinks acquisition
Vimto owner Nichols PLC has acquired a 49% equity stake The Noisy Drinks Co. to enable it to grow its presence in the out of home market across the UK and Europe.
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NewsGreggs share price soars after sales uplift
Shore Capital analysts Darren Shirley and Clive Black reiterated a “buy” rating on the stock
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NewsNorbert Dentressangle bought up by XPO to create distribution giant
Norbert, a leading global provider of contract logistics, is a major supplier to the UK food and drink sector and has customers including Asda, Morrisons, Sainsbury’s and Tesco
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NewsMedia bites: Mike Coupe's Egyptian conviction, Walmart, Reckitt Benckiser
The major story this morning is The Times’ scoop that Sainsbury’s boss Mike Coupe has been sentenced to two years in jail by an Egyptian court.