Ocado’s tech prowess must be celebrated May 18, 2018 It took a mega deal with a US grocer for Ocado to prove that it’s no basket case. The online grocer saw shares soar more than 80 per cent during trading yesterday after it announced that Kroger, one of the world’s biggest grocery chains with annual sales of $122bn (£90bn), will now use Ocado’s technology to [...]
Brent crude and West Texas Intermediate (WTI) oil prices drop from recent highs despite concerns over Iran sanctions April 30, 2018 Oil prices have dropped off recent highs this morning following a strong April rally as the US revealed a rising rig count last week, signalling increasing production. Benchmark Brent crude was down 1.03 per cent to $73.87 (£53.65) a barrel while US West Texas Intermediate (WTI) futures were nearly one per cent lower at $67.46 [...]
Costa sold to Coca-Cola: Here’s how the City reacted August 31, 2018 Coca-Cola is buying Britain's biggest coffee chain Costa in a deal valued at a whopping £4bn. Following this morning's surprise announcement, City analysts were quick to react. The high price paid, the opportunities for expansion, and the future of Whitbread all came under the microscope. Here's a few of the talking points. A coffee battle [...]
Shell completes its deal to buy First Utility and puts Colin Crooks at the helm March 1, 2018 Oil major Royal Dutch Shell has completed its acquisition of one of the UK's biggest challenger energy suppliers and appointed Colin Crooks as its chief executive. In December, Shell revealed it would buy First Utility in a deal thought to be worth £200m. The energy supplier, which serves around 825,000 homes in the UK, will [...]
Private sector startups can propel our NHS to a digital healthcare revolution May 8, 2018 If the tone of constant media coverage is anything to go by, the NHS is one of our country’s biggest obsessions. And as the health service approaches its seventieth birthday, it’s time for a reboot: a digital revolution is in order Repositioning Britain as a global leader in healthcare won’t happen overnight, and, of course, [...]
Ready to regulate: Why crypto and the City need each other April 30, 2018 The financial services sector is rife with inefficiency. The global financial system moves trillions every day and serves billions of people in the process, yet legacy technology and siloed systems make change immensely slow, if not impossible. The majority of core banking systems are over 30 years old, and almost half of financial intermediaries suffer [...]
A land levy would be far fairer than our punitive business rates September 6, 2018 We have by now all heard about the crisis facing our high streets, and the burden of business rates in particular. But while high-profile retail struggles like that of House of Fraser and Maplin have brought this issue into the headlines, the problems with this badly designed tax run far deeper. Contrary to what any economist [...]
Sorrell’s second empire: Former WPP chief executive will face a harder time growing his new business June 4, 2018 The news that Martin Sorrell has re-entered the ad industry via the takeover of a little-known shell company, Derriston Capital (set to be renamed S4 Capital), naturally has echoes of his acquisition of a wire, paper, and plastics firm in 1985. Of course, that firm is now WPP, one of the world’s largest ad agencies, [...]
Fintech mortgage broker Trussle secures £13.6m in Goldman Sachs-led funding May 9, 2018 Online UK mortgage broker Trussle has has secured £13.6m in financing from a group of international investors led by investment bank Goldman Sachs as part of its Series B funding round. The fintech company, which launched in 2016, uses its online platform to offer consumers an easier and more transparent way to access a mortgage. [...]
Property gloom is not really justified February 28, 2018 The amount of construction going on in the City of London makes the British capital look like a boomtown. Yet, following the UK’s vote to leave the European Union, the market has been distinctly downbeat on the value of London office space and the share prices of London-listed real estate investment trusts (REITs) has collapsed. [...]