Amazon leads £450m Deliveroo funding round as startup expands London tech team May 17, 2019 Deliveroo today confirmed Amazon is leading a $575m (£450m) funding round in the food delivery business as it plans to expand its London engineering team with some of the cash. Read more: Amazon in talks to invest millions in Deliveroo The round, including money from existing investors T Rowe Price, Fidelity Management and Greenoaks, takes [...]
The Restaurant Group sees sales rocket 57 per cent after Wagamama merger May 17, 2019 Frankie & Benny’s owner The Restaurant Group began to feel the benefits of its controversial Wagamama purchase as sales soared 57 per cent in the year to May. Read more: The Restaurant Group profits fall as like-for-like sales slip Like-for-like sales rose 2.8 per cent, meaning the acquisition of Wagamama for £559m at the end [...]
Relations with China are important, but so is the need to stand up to them May 17, 2019 China has become a significant player in the City and there can be no doubt that its activities in London help strengthen the Square Mile’s role as a global financial centre. Read more: City Corporation slammed for decision to ban Taiwan from Lord Mayor's show The average daily trading volume of the Chinese currency in [...]
Amazon in talks to invest £450m in Deliveroo May 16, 2019 Amazon is in talks to invest hundreds of millions of pounds in Deliveroo giving the food delivery app a boost as it takes on takeaway rival Uber Eats. The internet retailer will announce a deal to back Deliveroo as part of a $575m (£450m) funding round which is expected to be revealed in the coming days, [...]
Island hopping, dodging coconuts and chasing giant tortoises in Seychelles May 10, 2019 Biking around the flat sandy paths of Desroches island in the Indian Ocean, with only birds, turtles and tortoises for company, I happen across a warning sign nailed to a palm tree on the edge of the new Four Seasons resort. “Beware of falling coconuts”. Just moments later I encounter a similarly rustic sign bashed [...]
Follow the money: Brexiter Tories stuff their war chests ahead of leadership election May 10, 2019 The one thing that is always guaranteed to raise eyebrows in British politics – not least since the scandal that rocked this country exactly ten years ago – is MPs’ finances. Amid a greater focus on transparency, Commons members must declare money they earn outside of their salary as an elected representative. For some, this could be [...]
Ocado chips in to £7m round for UK robotics startup Karakuri May 9, 2019 Ocado has led a £7m seed round for UK robotics firm Karakuri, its first investment in a tech startup. Other backers in the round included Hoxton Ventures, Firstminute Capital and Taylor Brothers. The online supermarket chain will use Karakuri's technology to expand its grocery offering after a fire devastated one of its automated warehouses. It [...]
Black Sheep on stirring up the coffee industry, volcanic plantations, and helping the homeless May 7, 2019 We might be a nation best known for drinking tea, but Brits are increasingly obsessed with coffee. According to market analyst Allegra, we spent a tea-spitting £10.1bn in coffee shops last year. You can’t walk 100 yards in most town centres without stumbling on a Starbucks, Costa, or Cafe Nero – though, with many coffee [...]
Former high court judge to review Lloyds’ compensation payouts to HBOS fraud victims May 3, 2019 Lloyds Bank has launched an independent review of its HBOS victims compensation scheme. The bank has appointed former high court judge Ross Cranston to assess the outcome of the recently completed customer review, which has handed out more than £96m in compensation to victims of the HBOS Reading fraud. Read more: Former Hbos chief executive [...]
China expansion and UK troubles take a slice out of earnings at Pizza Express April 30, 2019 Pizza Express reported a slump in underlying earnings this morning, as expansion in China and tough trading conditions in the UK hit the group. Read more: SSE talks to Talktalk over £1bn retail unit after scrapping Npower deal In the latest sign of distress within the casual dining sector, Pizza Express posted a 15.3 per [...]