Chicken feed: Deliveroo signs restaurant deal with Nando’s September 11, 2020 Chicken lovers will now be able to order Nando’s to their door after the restaurant chain signed a partnership with Deliveroo. The food platform today said it will roll out delivery for Nando’s meals nationwide, with 360 restaurants now taking orders. The peri-peri favourite previously offered its own delivery service, though this was only available [...]
Ocado share price burnt by 48-hour blaze at robotics centre February 7, 2019 Ocdo’s share price suffered a 12 per cent dip this afternoon as investors continued to digest the news of a 48-hour blaze that has disrupted operations at one of the delivery giant’s major distribution centres. Late last night firefighters continued to tackle the blaze, which started early on Tuesday morning, at Ocado’s Andover distribution centre, [...]
Ocado’s revenue nears £1.6bn but losses widen February 5, 2019 Online food retailer Ocado announced 13 per cent revenue growth to nearly £1.6bn today, but losses after tax increased more than fourfold to nearly £45m. The company has seen its share price more than double over the last year, with news late last month that it was in talks for a partnership with Marks & [...]
FTSE 100 slips but global markets hit fresh highs on vaccines and stimulus December 17, 2020 The FTSE 100 slipped, weighed down by a rising pound, as global markets hit a new all-time high amid optimism about vaccines and fiscal and monetary stimulus. Despite the rise in global stocks, the FTSE 100 lagged behind as the pound rose 0.8 per cent to $1.360, a 32-month high. A higher pound weighs on [...]
AO World revenue surges as customers continue online shopping post-lockdown August 20, 2020 Online electrical retailer AO World said today its revenue surged in the months during and after the easing of coronavirus lockdowns as demand for its products and services was sustained even after its rivals reopened stores in July. The company said year-on-year revenue in the UK jumped 58.9 per cent to £401.3m and 91.5 per [...]
Peltarion, the AI startup used by Nasa, Ocado and Tesla, raises $20m February 14, 2019 Swedish artificial intelligence (AI) startup Peltarion is heading across the Atlantic after closing a $20m (£15.5m) funding round. The series A funding was led by Euclidean Capital, which has also backed the likes of popular DNA ancestry startup 23 And Me. Existing investors FAM, which is owned by Swedish investor family the Wallenbergs, and EQT Ventures also took [...]
FTSE 100 closes higher and US stocks rise despite fresh coronavirus lockdowns November 2, 2020 The FTSE 100 rebounded strongly from a terrible last week and US stocks jumped as investors rediscovered some optimism ahead of the US election and key central bank meetings. London’s main stock index was 1.4 per cent higher at 5,654 points by the close of trade, despite the imposition of a new national lockdown. The [...]
Supermarket delivery slots: Which grocers offer home delivery amid UK coronavirus outbreak? June 3, 2020 UK supermarkets are racing to increase capacity as the demand for home delivery services soars amid the coronavirus pandemic. All UK supermarkets are prioritising home delivery slots for those who are vulnerable, elderly, disabled or self-isolating. Many have introduced special in-store shopping hours dedicated to key workers. The surge in demand following the coronavirus outbreak [...]
The Hut Group raises £1.88bn in biggest London stock market listing since 2015 September 16, 2020 The Hut Group began trading on the London Stock Exchange this morning, raising £1.88bn in the largest UK initial public offering (IPO) since 2015. The Manchester-based online retail giant is valued at around £5.4bn following its stock market listing, which the firm said is the UK’s largest ever technology IPO. The Hut Group, which owns [...]
Corona Impact Series: How an EV charging company in Shoreditch was powered up by a policy change mid-pandemic February 5, 2021 In this series, City A.M. looks at the financial and economic impact of the ongoing pandemic on a range of small and medium-sized businesses across London. This week: How an electric vehicle charging startup in East London was made future-proof by government policies that were introduced at the height of the pandemic. “When the first [...]