Deliveroo expects growth to wane in a post-pandemic world April 15, 2021 Deliveroo expects its growth to slow down in a post-pandemic world, when customers will once again be able to visit restaurants in-person. The takeaway delivery app expects that in a post-pandemic world, its gross transaction value (GTV) is likely to grow between 30 and 40 per cent for the year, down considerably from GTV growth [...]
Ex-Sainsbury’s boss Mike Coupe joins NHS Test and Trace September 29, 2020 Former Sainsbury’s chief executive Mike Coupe has been appointed as a director at the UK’s beleaguered coronavirus testing service. Coupe, who was once caught on camera singing “we’re in the money” in relation to a since canned merger between Sainsbury’s and Asda, has been appointed testing director of NHS Test and Trace. The former supermarket [...]
Panic over: Brits made 117m fewer trips to the supermarket this March March 30, 2021 Brits made 117m fewer trips to supermarkets this month than in March 2020, which was a month that saw supermarket shelves stripped bare as consumers started panic buying ahead of the UK’s first national lockdown. Grocery sales fell three per cent in the four weeks to 21 March 2021, while during the same period last [...]
Beleaguered Cineworld tops the list of 10 most shorted UK stocks April 15, 2021 Cineworld tops the list of 10 most shorted stocks in the UK as hedge funds take aim at the cinema which has been forced to shut for over a year. A “short” is a method of betting against a stock, so that the investor can make a profit if the share price falls. Investors borrow [...]
Some 1,500 trucks stacked up at Dover as chaos continues December 22, 2020 There are now around 1,500 lorries parked up in side streets, on motorways and in laybys as chaos continues at the port of Dover. On Sunday France made a surprise decision to shut its border with the UK, in an attempt to stop a new, more infectious variant of the coronavirus spreading through the country. [...]
City Moves: Who is switching jobs in the Square Mile this week? January 13, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. After a rocky year for business, City firms are continuing to adapt to the challenges of three national lockdowns and post-Brexit bureaucracy to keep things moving across the Square Mile. This week, Lloyd’s [...]
Online share of grocery sales hits record level during third lockdown March 1, 2021 The third national lockdown pushed the share of online grocery sales to a record high in January, double the level the previous month. The pandemic has accelerated the shift to online shopping with Britain’s big four supermarkets expanding their capacity during the crisis. The online share of grocery sales hit 16 per cent in January, [...]
Retail tech startup Rezolve eyes $750m price tag with fresh funding round March 16, 2021 Mobile shopping platform Rezolve is closing in on a fresh funding round backed by British taxpayers that would value the startup at $750m (£540m). Rezolve, founded by tech entrepreneur Dan Wagner, is finalising a $20m funding round from a string of new US-based investors. The new cash injection, which is backed by a company connected [...]
Tesco, M&S and Sainsbury’s face allegations of worker exploitation in India November 17, 2020 UK retailers including Marks & Spencer (M&S), Tesco and Sainsbury’s are facing calls to apologise following allegations of worker exploitation in their supply chains. Supermarket supplier workers in India reportedly said they do not get toilet breaks or sufficient breaks to drink water or eat lunch. One member of staff told the BBC they were [...]
Covid rule-breakers ‘increasingly likely’ to be fined, says police chief January 12, 2021 Those caught breaking Covid rules are now “increasingly likely” to be fined by the police, London’s top officer has said. Metropolitan Police commissioner Cressida Dick said: “Most people are doing the right thing to keep each other safe, but sadly a small minority of people continue to flagrantly ignore the rules, for example by holding [...]