Finance news – Page 61
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NewsCity snapshot: Record palm oil production for Dekel Agri-Vision as prices start to soften
Dekel Agri-Vision has reported a softening of palm oil prices as it delivered another “strong” month of soaring production.
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NewsThorntons back in the black after shift from retail outlets to fmcg
Thorntons has bounced back into profit for the first time since its acquisition by Ferrero in 2015, as it reaped the benefits of shuttering its flagging retail estate
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NewsPrinces owner holds out for higher price
The Japanese owner of Princes is determined to press ahead with a sale of the brand this year despite initial bids falling short of expectations
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NewsCity snapshot: UK retail sales fall for the first time in three years
Like-for-like UK retail sales fell back in May to end a 26-month run of positive growth, according to figures from BDO
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NewsMedia Bites 9 June: Tesco, EG Group, Amazon
The consumer group Which? has reported Tesco to the UK’s competition watchdog over its failure to provide detailed pricing information on its loyalty card offers
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NewsCostco profits jump 44% to £120.6m in 2022
Fuel sales were improved by the opening of a new petrol station in Watford, which took the business’s total to 19 petrol stations across 29 warehouse sites
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NewsCity snapshot: Nestlé to invest in sustainable start-ups in Latin America via VC partnership
Nestlé has announced a partnership with specialist agri-food venture capital fund The Yield Lab Latam, to invest in sustainable food production start-ups in the region
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NewsMedia Bites 8 June: John Lewis Partnership, Ivan Menezes, grocery shopping
Dame Sharon White has pledged to get the John Lewis Partnership back to “sustainable” profit before 2026, although this may require outside investment
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NewsFood-to-go player Around Noon acquires The Soho Sandwich Co
Around Noon is targeting becoming a £100m UK food-to-go powerhouse with the acquisition of The Soho Sandwich Company
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NewsFood and drink M&A shows signs of recovery in 2023
UK food and drink mergers and acquisition volumes have bounced back to their highest level in six years, partly driven by buyers snapping up distressed assets
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NewsCity snapshot: Diageo announces death of CEO Sir Ivan Menezes
Diageo has this morning announced that long-serving CEO Sir Ivan Menezes has passed away following a brief illness
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NewsMedia Bites 7 June: Boots, British American Tobacco, ABF
The finance boss of Boots, Britain’s biggest high street pharmacy chain, has quit a year after its US parent abandoned plans to sell the business
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NewsABF buys UK milk records firm for £48m
Associated British Foods has announced it will bolt on National Milk Records to its AB Agri arm after agreeing a £48m deal to acquire the UK company. Plus, monthly retail updates from BRC-KPMG and Barclays, and trading updates from Poundland owner PepCo and BAT
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NewsMedia Bites 6 June: Unilever, inflation, Diageo
Unilever has begun a search to replace chair Nils Andersen in the latest stage of a leadership shake-up
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NewsWalkers Leicester factory in line for mega cash injection
The investment aimed to ‘future-proof’ the Leicester site, allowing PepsiCo to ‘deliver on our ambitions on packaging and health’
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NewsVegan foods manufacturer Plant & Bean falls into administration
Meat alternatives supplier Plant & Bean has filed for administration after soaring costs and operational disruptions hit trading
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NewsCity snapshot: Debra Crew takes up Diageo CEO role a month early
Incoming Diageo CEO Debra Crew has started as interim CEO today due to the illness of current CEO Sir Ivan Menezes
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NewsMedia Bites 5 June: Asda, Butternut Box, Morrisons
The £450m being invested into the Asda acqusition of EG Group comes from the supermarket’s own assets
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NewsMontezuma’s Chocolate rescued by Paramount Retail Group
The confectionery maker and retailer has been rescued in a deal that sees the chocolatier’s founders return to the business
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NewsCity News: B&M boosted by cost-conscious shoppers as sales soar
The rise of cost-conscious shoppers has bolstered B&M’s annual sales to almost £5bn, sending its share price soaring this week