Coca-Cola gulps down stake in AB InBev’s Coca-Cola Beverages Africa unit for $3.15bn December 21, 2016 Coca-Cola has snapped up a 54.5 per cent equity stake in Anheuser-Busch InBev’s Coca-Cola Beverages Africa (CCBA) bottling business for $3.15bn (£2.5bn). The Africa unit includes operations in a dozen countries, including South Africa, Ethiopia, Uganda and Kenya. It was previously owned by British firm SABMiller, which AB InBev took over for £79bn in October. [...]
Why you should serve a magnum on Christmas day December 21, 2016 Yes, Yes, Christmas is a time for giving. But it is also a time for a decent glass of wine or two and sharing them with friends and family. One of the greatest pleasures in collecting and appreciating wine is choosing the wines that will work just right with the occasion and the planned menu [...]
General Mills’ share price dropped by as much as four per cent as profit slipped below expectations December 20, 2016 Shares in the US food giant General Mills fell by as much as four per cent in early trading as the company reported its quarterly earnings had slipped below expectations The figures The maker of Cheerios and other breakfast cereals reported its operating profit margin was down 18.7 per cent on the previous year, and [...]
Heavy Black Friday discounting drove the basket value of online electrical purchases to its lowest value ever December 20, 2016 Black Friday discounting slashed the average value of online purchases in the electrical sector by 22.7 per cent year on year, a new report suggests. Discounts on electronics were key for attracting bargain-hunting Black Friday shoppers, but new figures show the price cuts brought the average basket value down to £119 in November, its lowest value [...]
John Lewis hits out at Labour MP over Christmas jingle December 20, 2016 The John Lewis Partnership has hit out at a campaigning Labour MP after she produced a Christmas jingle criticising the retailer for how it treats its staff. Labour MPs, led by Siobhain McDonagh, recently recorded a song – titled "National Living Rage" – to highlight how retailers are cutting staff benefits in response to the national living wage. Read more: [...]
Transport for London is opening the railway arches at Wood Lane December 20, 2016 Transport for London (TfL) is opening up the railway arches at Wood Lane. The 31 railway arches in west London, currently unused, will be transformed into commercial and retail space. There will also be new pedestrian passageways under the arches and new bicycle parking places. Read more: Weak pound draws tourists to London's Westfield centres TfL [...]
Britons have lost their taste for these favourites of Christmas past December 20, 2016 Christmas 2016 may have been marked by the rise of craft beer and gin advent calendars (yes, really), and a season when we cracked open £2bn worth of bubbly, but spare a thought for the traditional tipples we're leaving behind. Despite being a Christmas staple, Britons have lost their taste for the fortified wines of port, sherry and vermouth, as [...]
CMA approves McColl’s acquisition of 298 Co-op stores December 20, 2016 Don't you love it when the Competition and Markets Authority (CMA) clears something just in time for Christmas? The CMA has given the green-light to McColl's acquisition of 298 Co-op stores. McColl's intention to take on the stores was first announced back in July, and now that the CMA has approved the deal, McColl's expects [...]
Britons set to get stingier this Christmas as the average spend per person on presents falls by £50 December 19, 2016 If you already thought 2016 had been a less-than-ideal year, we have some more bad news for you – and this time it's about your Christmas presents. As the curse of 2016 carries on working its magic, the average spend on gifts per person for friends and family has declined by 11 per cent this [...]
Danone warns on sales growth target December 19, 2016 Yoghurt maker Danone has reduced its forecast for like-for-like sales growth due to the poor performance of its probiotic yoghurt Activia. Danone said in a statement the company has been facing an "increasingly volatile and complex environment" and that "Activia's performance as well as aggravated market conditions in Spain have impacted Europe Dairy results". Read more: [...]