Toyota halts operations at factories after earthquake March 18, 2022 Toyota Motor Corp is to suspend operations on several lines at almost a dozen factories next week, after an earthquake off the coast of Japan this week. The car maker has said it will halt operations on 18 lines at 11 domestic factories next week, for around three days. It has suffered a parts shortage [...]
Revenue sinks at JD Wetherspoon as boss says cost pressures ‘mitigated to an extent’ March 18, 2022 Revenue at pub chain JD Wetherspoon has taken a hit to the tune of 13.5 per cent as the firm warns of rising costs across its business. The company reported revenue of £807.4m, for the 26 weeks ended 23 January 2022, versus £933m in 2020. However, chairman Tim Martin said pressure on input costs from [...]
Getir valued at $11bn as rapid grocery app recruits thousands more UK staff March 17, 2022 Rapid grocery delivery app Getir has been valued at $11.8bn (£8.97bn) after the close of a $768m Series E funding round. The food delivery app is nearing 40m downloads in nine countries. The app has declared itself Europe’s first grocery delivery deacorn, having now raised $2bn. Mubadala Investment Company led the funding and the round [...]
Swedish vet app launches website in UK after pandemic pet boom March 17, 2022 A Swedish digital vet service has launched an e-commerce offering in the UK. After a pandemic-inspired pet boom, which has seen the likes of Pet At Home benefit, First Vet is planning to launch a website offering thousands of products. The products will be for sick and healthy pets including dogs, cats, rabbits, small animals [...]
Corbin & King shareholder hires lawyers in fight for restaurant chain March 17, 2022 Tensions between a London restaurant goliath and its largest shareholder have once more flared up as Minor International looks to sue a US investment fund. Jeremy King, who co-founded the operation behind Mayfair’s the Wolseley restaurant, has been embroiled in a tussle with Thai hotel giant Minor International. King is hoping a £38m rescue package [...]
Netflix eyeing new fees to prevent password sharing March 17, 2022 Netflix is exploring technology that will halt users sharing their passwords with others. While the streaming giant’s terms and conditions do prohibit users who do not live together sharing the same account, users can currently simply share a password to an account. Now, the company said it will start testing allowing subscribers to pay a [...]
Shoppers spend less at Ocado after offices reopen and Covid measures ease March 17, 2022 Ocado customers are spending less through the online grocery delivery service as pandemic habits return to normal. In an eight week trading update, Ocado said its average basket size came in at £124, 15 per cent lower than last year. This was reflective of changing shopper behaviours as customers return to physical supermarkets and offices. [...]
Deliveroo losses widen with warnings of future cost pressures March 17, 2022 Deliveroo has reported widening losses of £131m as the food delivery firm warned of the impact of hiked costs. The firm said its core adjusted loss had widened compared to a loss of £11m in 2020, citing increased marketing spend and investment into technology. However, revenue soared 57 per cent, with food delivery apps benefiting [...]
Exclusive: Assetz to receive £1bn fund to aid small housebuilders March 17, 2022 Aros Kapital will inject over £1bn into lender Assetz Capital to fund lending to small businesses, including housebuilders, over the next three years. Aros will contribute at least £750m to lending, in addition to around £350m already pledged, an update shared exclusively with CityA.M. revealed. Thanks to the investment, Assetz is readying to offer its [...]
Demand from Hong Kong buyers set to rise as capital welcomes back international interest March 16, 2022 Hong Kong buyers have the largest property footprint within London, followed by Jersey. Buyers from Hong Kong account for the highest proportion of residential homes registered to foreign addresses in 17 London boroughs. Research from London lettings and estate agent, Benham and Reeves, has revealed Barking and Dagenham as home to the highest percentage of [...]
