Eat Out to Help Out wipes £155m off supermarket sales September 15, 2020 The government’s Eat Out to Help Out discount scheme saw £155m knocked off supermarket sales last month as consumers ate fewer meals at home. Brits spent less at supermarkets in the four weeks to 6 September compared to July as the discount scheme encouraged people to venture out to restaurants and cafes. Alcohol supermarket sales [...]
Pandemic profiteers face tax hike on Covid winnings February 7, 2021 Companies that have cashed in a result of the coronavirus pandemic, including the likes of Amazon, will face a double tax raid under plans being draw up by the government. The government has summoned companies to discuss how an online sales tax would work, while plans are also being drawn up for a one-off “excessive profits tax,” the [...]
Wall Street scales to yet more record highs after Powell signals Fed will taper stimulus this year August 27, 2021 US markets were propelled to yet more record highs today after the chair of the US Federal Reserve indicated the central bank may start to wind down stimulus measures this year. The S&P 500 touched a record high today, before paring back slightly to rise 0.90 per cent to 4,510.49 points during early afternoon trading. [...]
Grocery sales on track for bumper Christmas after reaching record high in November December 8, 2020 November was the largest month ever for the UK’s grocery market as out of home socialising was restricted by a second national lockdown, figures show. Market researcher Kantar said grocery sales rose 11.3 per cent in the 12 months to 29 November and climbed 13.9 per cent year-on-year in the last four weeks. Last month [...]
Ocado shares slide on plans to raise £1bn amid coronavirus online boom June 11, 2020 Ocado shares fell this morning after the announcement that it plans to raise £1bn to help it capitalise on the online grocery market boom triggered by the coronavirus crisis. The British online supermarket and technology group said yesterday that it would raise about £657m through an equity placing and retail offer, and about £350m through [...]
UK supermarkets bring in security to enforce mask wearing as Covid cases rise January 12, 2021 Supermarkets are ramping up Covid safety measures, with many of the major UK grocers planning to make masks mandatory and to only allow one person per household in store. Tesco, Waitrose and Asda have joined Sainsbury’s and Morrisons in announcing that customers without masks will be turned away, unless they are exempt for medical reasons. [...]
Consumers expect free delivery amid online shopping boom October 6, 2020 Consumers expect free delivery when buying items online, new research has shown, amid a surge in internet shopping due to the coronavirus pandemic. A survey of 2,000 UK adults found that delivery services have risen up shoppers’ agenda since the outbreak of the pandemic, with Amazon Prime the standard to which other retailers are held. [...]
Tesco bosses receive bonus boost after Ocado removed from competitor list May 14, 2020 Tesco bosses received a bonus boost last year after the grocer removed online supermarket Ocado from a list of competitors. Tesco chief executive Dave Lewis would have missed out on around £1.6m in shares if the online rival had remained on the list used to compare Tesco’s performance against its competitors. Before Ocado was removed, [...]
Grocery delivery app Weezy raises $20m for London expansion January 14, 2021 Grocery delivery platform Weezy has raised $20m (£14.6m) to fund its expansion in London and across the UK as it cashes in on bumper demand during the pandemic. Weezy, which offers local grocery deliveries in 15 minutes, said it will use the funding to add 50 employees to its London-based team over the next four [...]
Labour calls for UK tax cut extensions before 3 March Budget February 7, 2021 Labour is calling for an extension to tax cuts for some of the UK sectors worst affected by the Covid pandemic. Shadow chancellor Anneliese Dodds today urged Rishi Sunak to extend the current VAT cut, from 20 per cent to five per cent, for retail and hospitality for another six months past March or or [...]