Finance news – Page 77
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NewsHeineken says Russia exit will take longer than expected
The Dutch brewer promised to withdraw from the Russian market following its invasion of neighbouring Ukraine nearly a year ago
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NewsCity snapshot: Nestlé targets margin improvement after cost inflation dents profitability
Nestlé has targeted margin improvement in 2023 despite ongoing cost inflation after soaring input costs dented profitability in 2022. Plus updates from CCEP, Pernod Ricard, Kerry Group and SSP Group
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NewsUK cultivated meat investments jump fivefold in 2022
Analysis of PitchBook data found UK cultivated meat companies enjoyed £61m of new funding in 2022
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NewsMedia Bites 16 February: Morrisons, Wilko, Mowi, Heineken, Kraft Heinz
The papers pick up a credit ratings downgrade for Morrisons, alongside job cuts at Wilko, controversy over Norwegian salmon tax and results for Heineken and Kraft Heinz
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NewsMorrisons’ credit rating slashed amid concerns over leverage
Morrisons’ credit rating has been downgraded in response to disappointing sales and profits at the private equity-owned supermarket
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NewsKraft Heinz warns of more price hikes in 2023 to combat higher costs
Kraft Heinz is the latest global consumer packaged goods group to report a strong double-digit jump in the fourth quarter of 2022 thanks to hefty price rises.
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NewsCity snapshot: UK inflation slows for third consecutive month
Inflation has eased for the third month in a row but food price rises show no sign of slowing down. Plus, Heineken reports higher-than-expected profits
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NewsMedia Bites 15 February: Waitrose, Subway, Coca-Cola
Waitrose is to cut prices across hundreds of grocery staples as it battles to win back cash-strapped middle-class shoppers
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NewsCoca-Cola beats expectations as higher prices lift revenues
Coca-Cola has revealed a strong set of fourth quarter and full-year results as consumer stuck with the soft drinks giant’s range of beverages despite inflated prices.
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NewsCity snapshot: Price hikes drive sales and profit growth at Coca-Cola HBC
European Coke bottler Coca-Cola HBC has posted strong top-line and profit growth on double-digit price hikes and cost control
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NewsMedia Bites 14 February: Amazon, Iceland, Lilt
Amazon chief executive Andy Jassy has vowed to double down on the company’s struggling grocery store business.
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NewsCellular share prices plummet causes Cannaray deal to falls through
CBD supplier Cannaray has cancelled its £18.6m reverse takeover of Cellular Goods due to a drop in the target’s share price
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NewsValeo Foods appoints 2 Sisters boss Ronald Kers as CEO
Kers will take up his new role in the summer following Seamus Kearney’s decision to step back from a day-to-day leadership role within the business
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NewsAvara Foods slumps to loss amid ‘inflationary pressures not seen for a decade’
The poultry supplier saw a £16.9m profit swing to a £16.1m loss during the 2021/22 financial year
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NewsCity snapshot: DX Group confirms corporate espionage claim from rival
Logistics group DX has confirmed this morning it is the subject of a corporate espionage claim in the High Court from a rival
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NewsMedia Bites 13 February: Tesco/Apprenticeship Levy, Pub closures, Bestway/Sainsbury’s
Tesco’s chief executive has complained that thousands of staff are missing out on new training because of restrictions on the government’s Apprenticeship Levy fund
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NewsCity News: Unilever warns of further price hikes
Unilever warned the market that further price hikes are on the way despite double-digit price inflation in 2022, but investors were reassured by the consumer giant’s full-year results on Thursday
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NewsBurts Snacks set to unlock growth with backing from new owner Europe Snacks
MD Dave McNulty, who will continue to run Burts as a standalone business, told The Grocer the acquisition would help unlock further potential in the snacking category.
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News2 Sisters owner Boparan and ForFarmers abandon animal feed joint venture
Boparan subsidiary 2Agriculture had hoped the jv would bring down feed prices
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NewsStruggling CBD brand Love Hemp calls in administrators
A notice on the brand’s website said Paul Cooper and Jamie Taylor of Begbies Traynor were appointed as joint administrators of Love Hemp Ltd on 9 February 2023