The CBI has ventured where the Food and Drink Federation daren’t by coming out strongly in favour of remaining in Europe after a poll of members found overwhelming support to stay (The Times). Britain’s biggest business lobby group said it would “make the economic case to remain in the EU” but would not join the official ‘In’ campaign.
There is plenty of fun to be had with news that posh mixer business Fever-Tree reported a 71% jump in revenues to £59.3m and earnings were up 82% to £18.2m. The Times writes “Upmarket gin proves just the tonic for Fever-Tree” as its bosses told the paper demand for a posh G&T was sweeping western Europe. The Financial Times went with “Fever-Tree provides tonic for investors with surge in profits” for its headline as CEO Tim Warrillow described 2015 as “an exceptional first full year for Fever-Tree as a public company”. And The Mail went for “Sparkling success for tonic water maker”.
The Telegraph reports that BHS landlord Hermes has opposed the retailer’s rent cut demands. Hermes Investment Management, which is a landlord of two BHS stores, has said it is not in favour of the department store chain’s Company Voluntary Arrangement (CVA).
Apollo Global Management has agreed a $1.36bn deal for US gourmet grocer The Fresh Market in the buyout firm’s third takeover of a public company in since February (The Financial Times).
The Times writes that the head of the Co-operative Bank, drafted in three years ago to lead a rescue of the struggling lender, is to leave. Niall Booker has indicated to the Co-op Bank’s board that he will not stay on much beyond the end of this year, when his contract expires, the paper reports.
No comments yet