Finance news – Page 58
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NewsMedia Bites 3 July: Tesco, M&S, Sainsbury’s
Tesco has drafted in City heavyweight Gerry Murphy as its next chair to replace John Allan
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NewsCity snapshot: Tesco confirms appointment of Tate & Lyle chairman to replace John Allan
Tesco has appointed Gerry Murphy as its new chairman to replace scandal-hit John Allan. Plus, shares in Science in Sport have been suspended, and Eagle Eye to enhance Morrisons loyalty offering following contract win.
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NewsWalgreens Boots Alliance shares slump on slashed forecasts
The group slashed its full-year guidance due to performance being hit by a slowdown of pharmacy sales post-Covid
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NewsVibrant Foods undertakes refinancing after heavy losses
World foods specialist Vibrant Foods has undertaken a multimillion-pound refinancing after ’operational challenges’ resulted in the group falling to significant losses.
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NewsCity snapshot: Fitch affirms Tesco’s investment grade debt rating
Fitch Ratings has affirmed Tesco’s investment grade debt rating, citing its ‘strong market position in a highly competitive core UK market’.
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NewsMedia Bites 30 June: B&M, WH Smith, artificial sweeteners
Discounter B&M European Value Retail has reported “strong profitable trading momentum” as it continues to benefit from shoppers seeking out bargains in the cost of living crisis
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NewsYum Bug to take insects mainstream with BrewDog backing
The business secured £200k from James Watt and topped up with another £101k from more than 320 investors on Crowdcube, with the round valuing the startup at £5m
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NewsCity snapshot: B&M UK first quarter sales up 9.2% on grocery and home growth
B&M Bargain’s owner B&M European Value Retail has posted double-digit first quarter growth driven by strong like-for-like growth in the UK
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NewsMedia Bites 29 June: Greedflation, Ocado/Amazon, Nestlé
A quiet morning in the papers that covers Chancellor Jeremy Hunt scrutinising profits in the food industry supply chain and Ocado Amazon rumours fading away.
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NewsFoodhak acquires The Pure Package and Balance Box from liquidation to expand offering
Ayurvedic ready meal business Foodhak has acquired healthy meal delivery business The Pure Package and sister company Balance Box out of liquidation
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NewsProject D closes crowd round to back rollout of doughnut stores
Premium doughnut maker Project D has raised close to £500k from the crowd to aid a retail store rollout
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NewsMedia Bites 28 June: Supermarket inflation, Boots, Diageo
Britain’s biggest supermarkets have rejected accusations from MPs that the industry is behaving like ‘a cartel’ and is fuelling inflation by profiteering from soaring food prices
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NewsCity snapshot: Dekel Agri-Vision profits fall despite record palm oil prices
Profits at Dekel Agri-Vision have fallen despite the company benefitting from record palm oil prices as a poor harvest hit production at the agribusiness group.
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NewsMara Seaweed administrators urgently seeking rescue for seasonings brand
The Scottish seaweed brand is on the verge of closing its doors as administrators seek a rescue deal to save the business
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NewsSeven Brothers targets £500k crowdfund to build new brewery and distillery
The ambition is to have a new site up and running by 2026, says the recently expanded business
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NewsCity snapshot: Warm weather boosts grocery sales volumes in June
A June heatwave helped improve grocery volumes and saw sales edge upwards, according to new data from NIQ
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NewsMedia Bites 27 June: ABF, Ocado, Sainsbury’s, food prices
A profits upgrade from ABF makes headlines this morning, alongside news of a fund chaired by George Osborne upping its stake in Ocado and a continued focused on food prices.
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NewsHooked lands seven-figure funding to cast net for plant-based fish wider
The Swedish plant-based fish startup is set to close a seven-figure funding round to expand outside its domestic market, with plans in place to launch in the UK next year
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NewsCarlsberg agrees to sell Russia’s biggest brewer Baltika
The Danish brewer has not disclosed who the buyer is or any financial details on the sale ‘to ensure that the approval processes go as smoothly as possible’
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NewsCity snapshot: Associated British Foods lifts profit expectations
Associated British Foods has raised its profit forecasts for the year as the grocery and ingredients divisions benefitted from price rises. Plus, Cake Box is upbeat about year ahead as it reports falling profits and Sainsbury’s announces a £15m investment to cut the price of cupboard staples such as rice and pasta.