Truss won’t be the first or the last to U-turn, but she taught us how not to do it October 20, 2022 It has been less than four weeks since the disastrous mini-budget, followed by a series of screeching U-turns in government policy. It’s made for sickeningly compelling viewing, partly because most of us have, at times, experienced our own shocking about-turns and forced mea culpas. We can all relate. And the next 12 months look likely [...]
New York-based Apollo Global Management mulls buyout of Marks & Spencer November 22, 2021 Private equity giant Apollo Global Management is reportedly mulling a buyout of UK high street staple Marks & Spencer.
Ocado joint venture with Marks & Spencer ‘working well’ December 12, 2019 Ocado has said its joint venture with Marks & Spencer is “working well,” as the retail delivery giant said revenue growth slowed slightly in its latest quarter. The firm saw growth in weekly orders, but stable average order size for the 13 weeks to 1 December. Read more: Ocado sales growth accelerates after Andover fire [...]
Shoppers opted for premium products this Christmas as grocery inflation hit 3.5 per cent January 5, 2022 Grocery sales hit £11.7bn over the Christmas period, as shoppers were keen to make the most of the festive period after Covid restrictions hampered celebrations last year. Shoppers spent record amounts on supermarkets’ premium own brand products, with £627m spent on pricier items over the four weeks to 26 December. This was an increase of [...]
Power of 10: UK more than doubles number of $10bn companies amid tech boom July 21, 2021 The number of UK tech businesses worth at least $10bn (£7.3bn) has more than doubled in the last six months, marking the latest sign of a boom in the British tech sector. Fintech darling Revolut, recently-listed Wise and online grocery giant Ocado are among the businesses to gain the title of decacorn in the first [...]
Brits flocking to online retailers hoists UK spending above pre-pandemic levels December 31, 2021 Widespread take up of online shopping amid Covid-19 lockdowns has lifted consumer spending above pre-pandemic levels, reveal fresh figures released today. Brits spent 5.9 per cent more in 2021 compared to 2019, according to research from Barclaycard, which cover £1 in every £3 spent on debit and credit cards in the UK. The upbeat spending [...]
Retail therapy gives markets a lift as battle to contain inflation genie starts in earnest May 27, 2022 European markets spent most of yesterday edging cautiously higher, with the FTSE100 shrugging off the UK government’s decision to impose a 25 per cent windfall tax on the oil and gas sector, while at the same time unveiling a fiscal stimulus package. The decision to impose the controversial tax appears to have prompted a review [...]
Michael Grade named Ofcom chair March 24, 2022 Michael Grade has been named the government’s preferred candidate for the Ofcom chair, the Culture Secretary Nadine Dorries announced today. Lord Grade has had a long career in broadcasting, encompassing London Weekend Television, the BBC, ITV, as well as over nine years as Chief Executive of Channel Four Television. In May 2004 he was appointed [...]
Ocado set to be crowned the FTSE’s most valuable tech giant December 17, 2019 Analysts have said Ocado has the vision to become the “Microsoft of Retail tomorrow” and transition into the FTSE’s most valuable tech giant. Once finalised, the decision by the Competition and Markets Authority (CMA) to de-designate Ocado as a retailer in August will make it the largest listed tech company in the UK by valuation. [...]
Ocado shares soar on Japanese robot warehouse deal with Aeon November 29, 2019 Shares in online retailer Ocado jumped more than 11 per cent today after it announced a deal to help Japanese retailer Aeon launch a new online business. Ocado uses robot technology in its customer fulfilment centres (CFCs) to automate many processes. Read more: Ocado to build sixth warehouse as online grocer accelerates growth It said [...]