Finance news – Page 79
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NewsBudget soft drinks sugar tax hike welcomed by campaign groups
The tax is currently applied at two different rates: 18p per litre for drinks with between 5g and 7.9g of sugar and 24p per litre for drinks with 8g or more
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NewsMedia Bites 1 November: more budget reaction, Amazon, Mars, Harrods, Aldi
Friday’s press continues to be dominated by reaction to the first Labour budget for 14 years, and, perhaps unsurprisingly, many of the leading UK publications are unsympathetic
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NewsCity snapshot: Branded growth outpaces cheaper own label - OC&C 150
Sales at the biggest 25 branded players in UK fmcg increased by almost a fifth in 2023 as new analysis by OC&C revealed that Britain’s largest food brands held back competition from cheaper own-label alternatives
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NewsTop 150 food and drink brands fight off own-label challenge
Revenues at the UK’s top 25 branded companies grew 19% in 2023, ahead of a grocery average of 9.3%, O&C analysis of the top 150 UK food & drink suppliers found
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NewsFmcg shares crash as investors stress over budget pressure for industry
Investors gave a big thumbs down to chancellor Rachel Reeves and the first Labour budget for 14 years as the FTSE 100 sank and shares across fmcg suffered a mass sell-off
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NewsCraft beer has abused crowdfunding ‘cash well’, claims Pressure Drop
Brewers have used crowdfunding to hide unsustainable practices, co-founder Sam Smith said
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News‘Shafted’ farmers dismayed by budget tax hikes warn of price increases
Chancellor Rachel Reeves’ first budget has been slammed by the farming sector for its ‘betrayal’ over tax hikes
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NewsFood Thoughts acquires Doisy & Dam from Nurture Brands to create new confectionery proposition
Food Thoughts has acquired vegan confectionery challenger Doisy & Dam from Nurture Brands to expand the ethical home baking brand into a new category
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NewsManilife invests £1m in new factory as a platform for growth
The new 13,500 sq ft site in Derbyshire – set to start production in the first quarter of 2025 – has capacity to store up to six billion peanuts, equating to 15 million jars of peanut butter
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NewsCity snapshot: Volumes fall at AB InBev and Carlsberg amid tough consumer backdrop
Volumes at brewing giants AB InBev and Carlsberg have declined in the third quarter, with both groups coming in below market expectations. Plus, Sainsbury’s sells Argos credit card business, Ocado appoints new chairman and Q3 updates from Haleon and Coca-Cola HBC
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NewsMedia Bites 31 October: Budget reaction, Kraft Heinz, Starbucks
Unsurprisingly, the front-pages this morning are all about Rachel Reeves’ first budget
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NewsYour reactions to the new government’s £40bn tax-raising budget
Readers of The Grocer share their opinions on how the autumn budget will affect their areas of industry
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NewsConvenience stores to bear £666m in extra costs from new budget
The ACS said the impact would be felt “unevenly” across the UK’s 50,000 convenience stores
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NewsRyan Reynolds and Rob McElhenney acquire stake in Wrexham Lager brewery
The duo will run Wrexham Lager Beer Co alongside current owners the Roberts family
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NewsPanesar Foods acquired by Finnish multinational Paulig
Founded in 1992, Tipton-based Panesar produces sauces, salsas and condiments for the speciality whole foods sector in the UK and overseas
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NewsGraham’s The Family Dairy reports boost in profit, driven by rise in sales volumes
The supplier saw sales increase across conventional and new products including its high-protein lines
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NewsThe budget as it happened and what it means for fmcg
Rachel Reeves confirms this budget will raise taxes by £40bn
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NewsGipsy Hill Brewery sold to St Peter’s Brewery owner Sunrise Alliance Beverages
It comes after the brewer failed to hit a £500k crowdfunding target last year
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NewsCity snapshot: ‘Robust’ Q3 results for Mondelez International
Mondelez International has beaten market expectations for revenues and profits in the third quarter. Plus, Lidl agrees to buy new property, Imperial Brands begins £1.3bn share buyback and MicroSalt wins new customer for reduced sodium salt
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NewsMedia Bites 30 October: autumn statement, Mondelez, Campari, Rude Health
The long-awaited Budget statement will be delivered by chancellor Rachel Reeves at 12.30pm