Aldi extends Deliveroo online grocery trial to London store June 12, 2020 Discount supermarket Aldi will extend its trial of delivering groceries to people’s homes via Deliveroo to include a store in Camden, London. Aldi, Britain’s fifth largest supermarket, launched a trial of the delivery model last month over eight outlets in the Midlands. It said the initial trial had gone well, and that it would therefore [...]
Ocado shares slide on plans to raise £1bn amid coronavirus online boom June 11, 2020 Ocado shares fell this morning after the announcement that it plans to raise £1bn to help it capitalise on the online grocery market boom triggered by the coronavirus crisis. The British online supermarket and technology group said yesterday that it would raise about £657m through an equity placing and retail offer, and about £350m through [...]
Major mobile networks suffer UK-wide outages June 9, 2020 Customers are experiencing issues with access to their mobile networks, with outages reported across the UK. Those affected include users of Vodafone, O2, EE, Three and Tesco Mobile. Many customers have reported being unable to use the UK mobile networks for voice call connections, though they can still text and use mobile data. Problems surfaced [...]
Founders and chief executive buy back control of supermarket giant Iceland June 9, 2020 The founding family and boss of Iceland Foods have teamed up to take back full control of the supermarket’s shares, following the chain’s revenue boom amid the coronavirus pandemic. Chief executive Tarsem Dhaliwal and founder Malcolm Walker have today bought out South African investment firm Brait’s 63.1 per cent stake in Iceland for £115m, making [...]
The City View: The future of capital markets, with William Wright – founder of New Financial June 9, 2020 In this episode Christian is joined by William Wright, founder of the capital markets think-tank, New Financial, which works to promote bigger and better capital markets. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS It also strives to explain the role and purpose of capital markets, and to focus the industry on how it can best serve [...]
Audit watchdog closes investigation into Tesco accounting scandal June 8, 2020 The Financial Reporting Council (FRC) has announced the closure of its remaining investigation into accountants at Tesco, ending a six-year probe linked to an overstatement of profit by the supermarket chain. The FRC said this morning it was closing an investigation into Tesco’s announcement in 2014 that it had overstated profits by £263m, a figure [...]
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 [...]
UK grocery sales surge at record level after two months of lockdown May 27, 2020 UK grocery sales rose 14.3 per cent during the 12 weeks to 17 May, the fastest rate since comparable records began in 1994, as Britons adapted to the national lockdown, data from market researcher Kantar showed today. The UK has been in lockdown since 23 March though restrictions are being gradually eased. Of Britain’s big [...]
UK supermarkets win ATM business rates legal battle May 20, 2020 UK supermarkets including Tesco, Sainsbury’s and Co-op will not have to pay business rates on ATMs at their stores after winning a long-running legal battle. The Supreme Court judged today that retailers were not liable to pay business rates on ATMs inside or outside stores. The ruling against the Valuation Office Agency will result in [...]
FTSE 100 breaks 6,000 barrier as vaccine hopes and Fed pledge boost markets May 18, 2020 The FTSE 100 broke through the 6,000-point milestone in a positive start to the week’s trading today, buoyed by hopes of a vaccine and more Federal Reserve stimulus. Easing lockdowns and lower infection rates in Europe infection hotspots Italy, the UK and Spain also boosted London’s blue-chip index. The FTSE 100 closed 4.5 per cent [...]