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Homeserve founder plans to build great British business magazine

Insurance entrepreneur Richard Harpin and former Times business journalist Graham Ruddick have plans to build “Britain’s leading business magazine”. Homeserve…

Tate & Lyle to offload its sweeteners division

© Getty Images/iStockphoto Shares in Tate & Lyle bounced this week after the 162-year-old company said that it is exploring the sale of a controlling stake in the largest part of the firm, says Hari Govind on Bloomberg. “One of Europe’s leading sugar producers” until it sold that business in 2010, Tate & Lyle has since focused on food ingredients, including sweeteners, with this division generating £1.8bn in sales last year, around 60% of total revenue.  Good news, says Lex in the Financial Times. While the production of sweeteners is a “steady cash generator”, demand for them is gradually falling thanks to the growing awareness about their role in obesity. The sweetener business is also obscuring Tate & Lyle’s “fast-growing” food and beverage division, especially its “speciality ingredient” business, which helps food manufacturers replace sugars and fats with “healthier alternatives”. Selling the sweetener should therefore raise cash that could be reinv

Clouds gather over Darktrace s £3bn stock-exchange listing

© Alamy Free, fast, fair Continue reading this article and get instant access to even more investment news by registering your details below: Email address Last Name We will use the details you have shared to manage your registration. You agree to the processing, storage, sharing and use of this information for the purpose of managing your registration as described in our Privacy Policy. Would you like to receive the Money Morning daily briefing newsletter? We will use the details you have shared to manage your newsletter subscription. You agree to the processing, storage, sharing and use of this information for the purpose of managing your subscription as described in our Privacy Policy.

Frasers Group in the firing line after profit warning

© Getty Images Frasers Group’s shares plunged by 10% this week after it “sounded the alarm” on profits, says Laura Onita in The Daily Telegraph. The news followed store closures in London and swathes of the South East due to the new Tier 4 rules .  The retailer, which owns chains including Sports Direct, House of Fraser, Evans Cycles and Game Digital, said its previous guidance from earlier this month of a 20%-30% rise in annual profits was “unlikely to be achieved”. The new rules mean that many shops will be forced to close to customers yet again and there is a “high likelihood” of “further rolling lockdowns” over the next few months. 

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