Ocado sales jump in pandemic but investment in international business slows earnings growth February 9, 2021 Online supermarket Ocado reported a jump in revenue due to a surge in demand for home food delivery services in the pandemic, but said investment in its international technology business offset growth. Group revenue increased 32.7 per cent to £2.33bn, up from £1.76bn last year, driven by 35.3 per cent growth in its retail revenue [...]
Reddit’s valuation doubles to $6bn after fresh funding round February 9, 2021 Reddit’s valuation has doubled to $6bn (£4.4bn) following a fresh funding round hot on the heels of a retail trading frenzy fuelled by the social media platform’s users. The company said it had raised more than $250m from new and existing investors in a series E funding round. The cash injection doubled Reddit’s valuation, which [...]
Pension provider James Hay to buy Nucleus for £145m February 9, 2021 James Hay will buy investment platform business Nucleus for £144.62m, merging to form a financial planning and retirement adviser platform with AUA of £45bn. Following the acquisition James Hay intends to merge the firms’ operations, to create what it hopes will be a leading financial planning and retirement-focused platform for the financial adviser market. Nucleus’s [...]
Vauxhall Mokka-e review: sharp-looking electric crossover goes green February 9, 2021 The Vauxhall Mokka crossover has been transformed. Already popular with Brits, the electric Mokka-e is good to drive and ready for 2030.
Betting and esports look set to collide February 9, 2021 A review of UK gambling laws launched by the Department for Digital, Culture, Media and Sport (DCMS) could have a major impact on the esports industry. The review will cover marketing and advertising of gambling in sport, and could lead to a ban on gambling companies sponsoring sports teams and events, including sponsorship on uniforms, [...]
A message from the City of London Police: Top tips on National Internet Safety Day February 9, 2021 Today [9 February] is National Internet Safety Day. Marking this date feels more important than ever this year due to the impact the COVID-19 pandemic has had on the way we all communicate with others. We are now in the midst of our third UK lockdown with schools closed for the second time in a year [...]
Facebook bans vaccine misinformation in latest platform clean-up February 9, 2021 Facebook has banned misinformation about all vaccines in its latest effort to crack down on harmful material. In December the social media firm began removing claims from Facebook and Instagram about approved Covid-19 vaccines that had been debunked by health experts. The company today said it would extend these measures to include more false claims [...]
Von Der Leyen’s vaccine strategy violates the EU’s founding principles February 9, 2021 European Commission President Ursula von der Leyen has conceded that individual countries could have vaccinated their populations quicker had they acted alone rather than relying on the EU’s collective vaccine purchase and distribution program. She has effectively acknowledged that her vaccine procurement programme violated a fundamental principle of the European Union’s founding treaties. European Commission President Ursula von der Leyen has published an op-ed in the leading German daily newspaper Frankfurter Allgemeine Zeitung: “I ask myself the same questions every day: Could we have been much [...]
Medical cannabis firm MGC Pharmaceuticals to float on LSE February 9, 2021 Medicinal cannabis firm MGC Pharmaceuticals has announced plans to float on the main market of the London Stock Exchange. MGC Pharma is a European-based bio-pharma company specialising in the production and development of phytocannabinoid-derived medicines. As part of the listing process, the company intends to raise gross proceeds of approximately £6.5m via institutional and other [...]
TUI expects summer boost after pandemic pushes holiday giant into ‘fragile’ position February 9, 2021 The world’s biggest holiday company has announced a €699m loss during its first financial quarter as lockdowns severely limited demand for fights over the festive period. The results signal a difficult year for TUI, whose operations have been battered by the coronavirus pandemic. Cautious optimism Despite the challenges, the group remains confident in a strong [...]
