Finance news – Page 63
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NewsMedia Bites 26 May: Asda/EG Group, John Allan, Tate & Lyle, Fever-Tree
Reports of an impending merger of Asda and EG Group make headlines this morning, and John Allan gives an exclusive interview defending himself.
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NewsIncredo raises $30m to back sugar binding technology growth
Incredo Sugar, formerly known as DouxMatok, purports to be able to reduce sugars used in sweet foods by 30%-50%
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NewsHeura smashes through crowdfunding target
The Spanish firm comfortably beat its latest €1m target on the Crowdcube platform, with €2.6m secure in the campaign’s first 48 hours.
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NewsCity snapshot: Pets at Home posts record sales but margins shrink
Retail group Pets at Home posted record revenues of more than £1.4bn last year, but margins were hit by rising costs and energy prices. Plus trading updates from Fever-Tree and Tate & Lyle
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NewsMedia Bites 25 May: M&S, inflation, C&C Group
The long-awaited turnaround at M&S generates headlines across all the papers this morning, along with news of stubbornly high food prices.
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NewsIngredients supplier Kiril Mischeff acquires Good Food Wines
Kiril Mischeff said the acquisition would allow it to capitalise on “significant” revenue synergies thanks to the complementary product portfolios of the two businesses
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NewsMedia Bites 24 May: Food price inflation, SSP Group, Ocado
Britain’s food manufacturers have rejected government claims that they are stoking inflation
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NewsCity snapshot: M&S food and clothing profits decline
Marks & Spencer has taken a hit on margins as it invested in keeping its food and clothing prices competitive. Plus, food prices remain near 45-year highs, and C&C Group reports annual results.
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NewsAvara Foods set to close Abergavenny factory
The poultry giant cited the impact of the Covid pandemic, plus inflationary pressures as key drivers behind plans to close the site
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NewsRiverford boss slams supermarket treatment of suppliers
Veg box founder Guy Singh-Watson described the low returns passed on to many suppliers as ‘morally reprehensible’
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NewsCity snapshot: Grocery price inflation continues to ease
Grocery price inflation has edged back down for the second consecutive month, according to the latest market share data from Kantar
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NewsMedia Bites 23 May: Food inflation, junk food, alcohol health warnings
The papers continue to focus on the ongoing issue of soaring food prices, while Ireland to label alcoholic drinks with cigarette-style health warnings.
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NewsMedia Bites 22 May: Tesco, Marks & Spencer, Sainsbury’s
Tesco’s chair, John Allan, is to step down next month after eight years in the role
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NewsCity snapshot: Wincanton posts record underlying profits
Wincanton has lifted underlying profits to record levels despite pressure on consumer spending depressing volumes at the logistics group.
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NewsPremier Foods shares surge following upgrade to expectations
Premier Foods shares surged to 12-year highs this week after the ambient supplier beat upgraded expectations
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NewsFood and drink M&A dealmaking sees green shoots of recovery
Food and drink dealmaking showed signs of recovery in the first quarter of 2023, suggesting activity could bounce back from a weak 2022
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NewsCity snapshot: C&C Group CEO steps down amid €25m hit from software upgrade
C&C Group has announced a change in leadership as it revealed to the City it faces a €25m charge associated with a problematic upgrade of its software for its distribution operations
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NewsMedia Bites 19 May: Asda, Riverford, Consumer confidence
Asda has been accused of using ’fire and rehire’ threats to reduce pay for 7,000 staff as it restructures the business
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NewsFramptons seeks £5m cash injection after supply chain shocks
Recovery specialists at Resolve have been drafted in to explore options at the business, including finding a potential buyer.
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NewsWarehouse fire and supply issues contribute to huge Waitrose loss
The accounts add new details to the financial update provided by the John Lewis Partnership in January