Firefighters put out blaze at another Ocado warehouse August 22, 2019 Firefighters were called to put out a small fire at an Ocado warehouse last night, just months after a fire at one of its flagship sites caused nearly £100m in damage. A waste packaging container caught fire, the company said in a statement this morning. Read more: Losses deepen as Ocado reveals cost of Andover [...]
Laura Ashley drops into the red amid tough retail conditions August 22, 2019 Furniture and fashion-seller Laura Ashley was hit by a rough retail sector, its chief executive said this morning, as the company fell into the red. Loss before tax and exceptional items hit £9.8m at in the full year to 30 June. Last year the company made a £5.6m profit. Read more: Laura Ashley shares hit [...]
That’s the ticket: Fans deserve a market built on transparency August 22, 2019 Imagine you’ve long wanted to see your favourite band live. Then one day, they announce a tour, with a date in your hometown in eight months’ time. This band hasn’t toured in a long time, and you know that they always draw in the masses. What do you do? Buy the ticket, of course – [...]
Uncertain future for retailers as businesses fail to invest in digital August 21, 2019 In an already turbulent time for the high street, swathes of the retail sector are ignoring the need to focus on digital technology, despite consumers increasingly shopping online, according to research. A survey of 100 top retailers found more than one-third of businesses have no strategy in place to address developments such as a rapid [...]
UK’s first contactless car vending machine unveiled in London August 21, 2019 Londoners in desperate need of a brand-new car can now snap up a set of wheels instantly, thanks to the UK’s first contactless vending machine. The bespoke vending machine, installed today in Spitalfields Market, allows motorists to purchase a new car on the spot via a contactless payment on their phone. The stunt, carried out [...]
Easyhotel bidders secure takeover despite founder’s protests August 21, 2019 Real estate investors Ivanhoe Cambridge and Icamap have secured their takeover of Easyhotel, despite protests from founder Sir Stelios Haji-Ioannou. The bidders, who have formed a joint venture named Citrus UK, said they hold or have received acceptances for more than 50 per cent of the company’s voting rights. Read more: Easyhotel urges investors to [...]
Alibaba delays Hong Kong listing over protests August 21, 2019 Chinese e-giant Alibaba has reportedly delayed a $15bn (£12bn) Hong Kong listing, scared off by protests that have rocked the city for more than two months. There is no formal timetable for when the listing will happen, but the company may go to market in October, sources told Reuters. Read more: Softbank earns $11bn for [...]
Feeling the heat: Walmart sues Tesla after solar panel blazes August 21, 2019 In a clash of two of America’s best-known companies, Walmart has sued Tesla for alleged “widespread negligence” that led to solar panels made by the electric car giant catching fire. The supermarket behemoth has asked a court to force Tesla to remove the panels from more than 240 of its US stores after they were [...]
Walmart sues Elon Musk’s Tesla after fires blamed on its solar panels August 20, 2019 Retail giant Walmart is suing Elon Musk’s electric car and clean energy business Tesla alleging that solar panels it supplied were responsible for fires at seven of its stores, according to a lawsuit filed in New York today. The fires destroyed significant amounts of store merchandise and required substantial repairs, totalling hundreds of thousands of [...]
Sainsbury’s shares lifted by strong performance but hottest day fails to revive flagging grocery sales August 20, 2019 Sainsbury’s led FTSE 100 risers this morning following the news the supermarket had put in its strongest performance since November 2017. The supermarket put in the strongest performance of all the big four grocers, but still saw its market share slip 0.6 per cent over the past 12 weeks, according to Kantar data released this [...]