Finance news
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NewsCity snapshot: Warm weather boosts UK retail sales
UK retail sales continued to rise in May after bouncing back to growth in April as warm weather boosted the industry
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Media Bites 23 June: Ocado, Morrisons, Tesco, DS Smith
Rumours of Amazon interest in Ocado has generated lots of excitement and stories in this morning’s papers.
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Food & drink manufacturing costs starting to ease
Production costs fell for the first time since April 2016, according to the Lloyds Bank UK Sector Tracker
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City snapshot: Packaging giant DS Smith reports soaring profits despite volume declines
FTSE 100 packaging giant DS Smith has reported a double-digit hike in profits despite falling volumes in key markets as e-commerce growth tailed off last year
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Media Bites 22 June: Arla, THG, Ocado
This morning’s papers pick up on warnings by Arla of a lack of workers, THG’s founder giving up his “golden share” and bid speculation around Ocado.
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Adamo Foods secures £1.5m funding to bring meat alternative steak to market
UK-based Adamo Foods has secured £1.5m in funding to develop meat alternatives products and bring them to market
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VFC confirms rescue of Meatless Farm
The Meatless Farm brand in the UK will be retained to complement and diversify VFC’s range of frozen plant-based chicken products
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Oscar Mayer appoints new leadership following ownership change
UK ready meals supplier Oscar Mayer has hired a new leadership team following a change in ownership
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Media Bites 21 June: Grocery inflation, minimum wage, Ocado
The pace of grocery inflation has eased to its slowest monthly rate this year, according to industry data that backs hopes the worst may be over
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Food inflation slows for second month in a row
Food inflation has slowed for the second consecutive month but the UK’s headline rate remained unchanged, according to new figures this morning. Plus, a trading update and exec appointment from THG ahead of its AGM, and Vimto owner Nichols appoints an interim CFO.
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Meatless Farm set for rescue by vegan fried chicken challenger VFC
Meat-free startup VFC, launched by Veganuary and Veg Capital founder Matthew Glover, is close to securing the rescue of the Meatless Farm brand in the UK
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Grocery price inflation eases to its lowest level since 2022
Like-for-like grocery price inflation has dropped to its lowest level since 2022 and now sits at 16.5%, according to the latest market share data from Kantar
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Media Bites 20 June: Food inflation, BAT, Coca-Cola HBC
Morrisons and M&S have become the latest supermarkets to cut the price of basics as retailers face pressure to do more to tackle soaring living costs.
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Tony’s Chocolonely nets £17m to drive global growth
The ethical confectionery maker has raised €20m (£17m) to accelerate its “mission of ending exploitation in the cocoa industry”
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City snapshot: Coca-Cola HBC expands spirits offering with $220m Finlandia vodka acquisition
Hellenic Coke bottler Coca-Cola HBC has acquired the Finlandia vodka brand from a subsidiary of Brown-Forman, the US owner of Jack Daniel’s, for $220m. Plus, management board changes announced at British American Tobacco.
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Media Bites 19 June: Tesco, anti-obesity measures, McColl’s
The chief executive of Tesco has said food inflation has probably peaked but that prices are likely to stay high
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Ocado gets vote of confidence with ‘much better outlook’
Analysts at BNP Paribas Exane upgraded the online retail pioneer from ‘sell’ to ‘neutral’
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Tetley cuts plastic with new cardboard packs
It represents the ‘most significant change’ to the brand’s packaging in 30 years
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City snapshot: Tesco UK sales up 9% amid ‘encouraging’ signs on inflation
Tesco has grown its UK like-for-like sales by 9% in its first quarter as its CEO points to ‘encouraging early signs that inflation is starting to ease’
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Indian coffee player plots UK retail push after acquisition
India’s largest instant coffee manufacturer is planning a push into the UK retail space after buying a collection of brands from Löfbergs Group
