Ocado cements Coles partnership as Australian fulfilment centres open August 27, 2024 Online grocer Ocado has announced that its two fulfilment centres in Australia commenced operations in July after a year of delays. The centres, which will serve communities in Melbourne and Sydney via Ocado’s Smart Platform, were opened in partnership with Australian online grocer Coles. The partnership was signed in 2019 and has been subject to [...]
Rocco Forte Hotels counts cost of £1.4bn deal with Saudi Arabia’s Public Investment Fund August 27, 2024 Profit at the British hotel group co-founded by Sir Rocco Forte was cut by more than half during its latest financial year as it sold a significant stake to Saudi Arabia’s Public Investment Fund. The deal, which was first announced in December 2023, saw the PIF take a 49 per cent holding in London-headquartered Rocco Forte Hotels [...]
Flowtech buys out struggling rival Thorite to boost UK expansion August 27, 2024 Fluid power products supplier, Flowtech, has struck a £350,000 deal to acquire the struggling pneumatics and fluid products provider Thorite. The London-listed firm, which is headquartered in Flookburgh, Cumbria, said the acquisition would bring “significant benefits” including better operational efficiency, cost savings, and improved profit margins. It added that Thorite’s existing locations would help Flowtech [...]
Cambria Africa eyes AIM delisting as it plots liquidation of assets August 27, 2024 Cambria Africa, a holding company with investments in Zimbabwe, has announced plans to delist its shares from London’s AIM market. The company’s shares have been suspended from trading since March following its failure to release its financial results for the year ending August 2023 and for the six months ending February 2024. The long-awaited financial [...]
Helium One snaps up stake in major US project as global expansion takes off August 27, 2024 London-listed helium explorer Helium One has acquired a significant stake in two major US projects as it continues its quest to expand its global footprint. The firm, which is the biggest helium explorer in Tanzania, has signed an agreement to acquire a 50 per cent stake in Blue Star Helium’s Galactica-Pegasus project in Colorado. Helium [...]
Selection for the Paralympics and Olympics: Who gets to decide who competes? August 27, 2024 More than 4,000 athletes from 150 nations are set to compete in 22 different sports when the 2024 Paralympic Games in Paris begin this week. The names selected have been confirmed over the last few months. Selection can cause controversy, as it did at the Olympics where the Netherlands’ beach volleyball squad made international headlines [...]
Meet the founder who built a £9.2m jewellery brand with a virtual storefront August 27, 2024 Olivia Jenkins, the founder of D. Louise, discusses how she transformed Instagram into a virtual storefront and her vision for the future of e-commerce.
City job openings set for ‘slight recovery’ after election-fuelled slump August 27, 2024 Recruitment for London finance jobs is expected to stage a "slight recovery" under the new Labour government, according to new research.
Hamleys: World’s oldest toy store closes 40 loss-making shops as sales fall August 27, 2024 Toy retailer Hamleys is hoping a new digital strategy will help turn around its falling sales after closing 40 loss-making stores last year. The brand’s holding company has reported a revenue of £51.4m for 2023, according to newly-filed accounts with Companies House, down from the £56.6m it posted for 2022. Over the same period, its [...]
The Notebook: The rules of work are about to change – here’s what managers need to know August 27, 2024 From flexible working to generational clashes, the rules of work have changed. Recruitment expert Doug Rode has the insight on how to manage.