Day: October 31, 2024
The budget as it happened and what it means for fmcg
Rachel Reeves confirms this budget will raise taxes by £40bn
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Alcohol industry rages as duty set to go up in line with inflation
The tax hike was ‘a kick in the teeth to distillers’ said the UK Spirits Alliance
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Just Eat rolls out in-car ordering across Europe
The feature is initially available in the Mercedes-Benz in-car app store for customers of certain models
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Media 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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City 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…
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Manilife 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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Ocado Group appoints tech veteran as new chair
Adam Warby was a founding member of the IT consulting and services Avanade Corporation and served as its CEO for 11 years
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M&S adds tteokbokki duo to tap booming Korean food trend
It comes after Mintel predicted the dish would hit the mainstream in 2024
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French retailers E.Leclerc and Match caught up in UK supplier scam
Fraudsters purporting to supply the supermarkets have cost two British businesses more than £300,000
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Food 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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Wholesale sector to face over £110m in extra costs from new budget
Increased employers’ National Insurance and direct wage costs will have a ‘significant impact’ on the sector
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Thousands of hectares in Valencia destroyed after deadly flash floods hit the region
Heavy rains and hailstorms across Valencia, Almeria and Andalusia have caused irreversible damage for farmers
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RD Johns expands with new depot purchase in Hampshire
The new depot will be the fourth in the south east for the foodservice specialist
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‘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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The Gym Kitchen debuts high-protein milk in Tesco
The ready meals brand has taken its first venture into the chilled dairy milk category, offering a more nutritious alternative to standard milk options
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Soup disappearing from supermarket shelves amid Bakkavor strike
Twenty-two chilled soup SKUs were unavailable in Tesco at the time of writing
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Lidl seals 12-store sale & leaseback deal in breakthrough for expansion programme
Lidl has sold the 12 sites for £70m to Roadside Retail, which has agreed to lease them back to the discounter for 25 years
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Craft 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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Fmcg 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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What the Budget means for retail: Costs to surge but rates reform on the cards
Retailers are facing a significant jump in costs following a National Insurance and minimum wage hike unveiled in Chancellor Rachel Reeves’ Budget, the first by a Labour government in 14 years.
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