Soaring Madagascan vanilla price threatening to increase cost of ice creams March 26, 2016 Consumers may have noticed the price of their Easter eggs going up this year thanks to increasing sugar and chocolate prices. And now for some more bad news. The soaring cost of vanilla could push up the price of your ice cream this summer. Read more: Why your easter egg is more expensive this year Following a [...]
US company McCormick “disappointed” with conduct of the board of Mr Kipling owner Premier Foods – but could improve takeover offer March 25, 2016 McCormick has said it is “disappointed” with the way the board of UK rival Premier Foods, owner of Mr Kipling, is “conducting itself”. But the US firm, known for its spice brands such as Schwartz, has said it could be willing to improve its offer for the company. Premier this week rejected a second takeover [...]
Google fined €100,000 in France for failing to “effectively uphold” the right to be forgotten March 24, 2016 Google has been fined €100,000 (£79,000) by the French data protection authority. The fine has been made in relation to the so-called right to be forgotten law. The Commission Nationale de l'Informatique et des Libertes (CNIL) said Google had not fully upheld the right because its scrubbing of results does not extend far enough. Read more: Why the right to [...]
Chocolate prices, sugar prices and El Niño: Why your easter egg is more expensive this year March 24, 2016 The Easter bunny will be feeling additional pressure on its margins this year, thanks to a jump in the cost of its most popular confectionery. The price of milk chocolate is 10 per cent higher this Easter compared to last year, according to commodities intelligence service Mintec. "Global demand for cocoa is expected to exceed production, leading [...]
Premier Foods share price dips after Japanese instant noodle maker Nissin agrees to buy 17 per cent stake in Mr Kipling owner March 24, 2016 Japanese instant noodle maker Nissin Foods has agreed to buy a 17.27 per cent stake in Mr Kipling owner Premier Foods from US private equity firm Warburg Pincus. The deal has been announced the day after Premier rejected a second takeover approach from US rival McCormick. The share price of Premier fell slightly today after jumping [...]
Dollar advance during Thursday trading puts pressure on Asian shares and commodities March 24, 2016 The dollar rose for a fifth straight session on Thursday, putting pressure on Asian shares and commodity-rich markets such as Australia. The dollar advance, seeing it up around 0.47 per cent against other major currencies during Thursday trading, was prompted by another Federal Reserve official indicating there could be more than one increase in US interest [...]
Rum-maker Bacardi stirs things up by moving its European headquarters to Spitalfields March 24, 2016 Bacardi, maker of the world's leading rum brand, is moving to the other side of town after announcing plans to decamp its offices in west London to a new scheme in Spitalfields. The family-owned spirits company has agreed to let the entire third floor – or 9,564 square feet – of TH Real Estate's The Steward Building near Liverpool Street on [...]
Sofa chain DFS hails bumper half-year profits March 23, 2016 Shoppers are in the market for a new sofa and they are coming to buy them at DFS, according the furniture chain which posted a jump in first half profits. The company, which trades under its eponymous brand as well as Sofa Workshop and Dwell, said it made a pre-tax profit of £16.2m in the six [...]
Premier Foods’ share price soars as Mr Kipling owner rejects £500m takeover approach by US food giant McCormick March 23, 2016 Shares in Premier Foods have rocketed by 65 per cent today after the Mr Kipling and Bisto gravy owner confirmed it has rejected a second £496m takeover approach from US rival McCormick, saying the offer significantly undervalued the company. The food company said it was was first approached on 12 February regarding a possible cash offer of 52 p per share, which [...]
BHS landlords and creditors approve crucial CVA vote to slash rents March 23, 2016 Struggling department store chain BHS will live to fight another day after creditors and landlords today voted in favour of a restructuring deal to slash the rent bill for its 164 UK stores. The company said 95 per cent of creditors approved a Company Voluntary Arrangement (CVA) for 125 stores at a meeting at the Novotel Hotel in Hammersmith this morning – [...]