Marks & Spencer investors suffer dividend blow as retailer nets food delivery service in £750m Ocado venture February 27, 2019 Shareholders hammered Marks & Spencer’s shares this morning as it became clear the retailer plans to hit up investors to fund a £750m food delivery venture with Ocado. M&S’s stock dropped 9.2 per cent to 303p as it confirmed plans to raise £600m through a rights issue as well as knocking down shareholders’ dividend. The [...]
Marks and Spencer appoints new chief financial officer February 11, 2020 Marks and Spencer has announced the appointment of a new chief financial officer, at a time when the group is trying to revive its fortunes. Eoin Tonge will join from Irish convenience food retailer Greencore in June after his predecessor Humphrey Singer stood down in September last year. Marks and Spencer boss Steve Rowe said: [...]
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 [...]
Former City lawyer tasked with reviewing demise of Wasps and Worcester Warriors in Premiership Rugby financial review February 20, 2023 Legal heavyweight Sir Nigel Boardman, a former partner at City law firm Slaughter and May, has been appointed to lead a review of the financial crisis engulfing Premiership Rugby. Boardman, 72, led the government inquiry into the Greensill Capital lobbying row in 2021 and last year called time on a near-50-year stint with the Magic [...]
M&S hopes share price continues to rebound after further signs of progress May 24, 2023 Marks and Spencer said this morning that it was starting to see the fruits of a refreshed strategy as the British retailer revealed a 9.6 per cent hike in revenues thanks to selling trendy clothes and a wider range of food. For the year, M&S said that revenues reached £11.93bn compared to £10.88bn, in the [...]
Go for Broke with Pem in the County March 16, 2023 WILLIE Mullins and Dan Skelton have won seven of the last eight runnings of the County Hurdle (2:10) between them. In that time, Mullins has four wins to Skelton’s three, but I think it could be level come around 2.15pm. PEMBROKE won a couple of two-mile novice hurdles on softish ground over the winter, but [...]
Mark Kleinman: Ascential’s messy breakup, audit tensions and ARGA’s impasse October 5, 2023 Mark Kleinman, City editor of Sky News, writes weekly for City A.M. This week he talks Ascential, FCA tensions and the ARGA impasse.
Rugby World Cup Barometer: Grondona has coming of age match for Pumas July 20, 2023 In the lead up to the 2023 Rugby World Cup, City A.M. has put together a barometer in partnership with City Index to assess whose form is hot – and whose is not – in the race to be part of the tournament in France later this year. Player of the week Argentina flanker Santiago [...]
Marks & Spencer launches plastic packaging-free fruit and vegetable trial to try and cut plastic waste January 16, 2019 Marks & Spencer launched a trial today of plastic packaging-free fruit and vegetables at its Tolworth store as it moves to cut the amount of plastic it uses. The retailer said it had introduced trained greengrocers to advise customers on the over 90 lines of loose fruit and vegetables it was selling from two aisles. [...]
Ocado shares soar after partnership with South Korea’s Lotte Shopping November 1, 2022 Ocado shares surged by more than a third on Tuesday morning after the retailer inked a partnership deal with South Korea’s Lotte Shopping. The London-listed tech firm said it had agreed plans for the development of a national fulfilment network, pushing shares up as much as 36 per cent by midday. Lotte Group is one [...]