City lawyer avoids jail after telling client to ‘burn’ evidence in Ocado case October 5, 2022 A City lawyer, who instructed his client to “burn” chat logs to prevent them from being handed over to Ocado, has avoided going to prison after being handed a substantial fine. Ex-Jones Day partner Raymond McKeeve told an IT manager at a company founded by Ocado co-founder Jonathan Faiman, Today Development Partners (TDP), to “burn” [...]
All change: Moneysupermarket goes shopping for Ocado’s chief financial officer September 26, 2022 Moneysupermarket.com has swooped in for the Chief Financial Officer at Ocado, who will take up the same role on its board. Niall McBride will join the price comparison site subject to regulatory approval, as he leaves Ocado after having joined in 2020 during the pandemic. The former Rothschild & Co and PwC accountant will likely [...]
London’s FTSE 100 bumps higher after government halves firms’ energy bills September 21, 2022 London’s FTSE 100 bumped higher today as investors digest the details of the government’s energy support package for UK businesses. The capital’s premier index climbed 0.63 per cent to 7,237.64 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, rose 1.01 per cent to 18,714.67 [...]
Ocado shares sink after HSBC downgrade September 20, 2022 Shares in Ocado sank on Tuesday after HSBC analysts downgraded the grocery delivery firm from a Hold to a Reduce rating. HSCB’s notes caused shares in the middle-class favourite to drop by more than eight per cent after Ocado warned last week that soaring inflation will weigh on its profitability in Q4. The firm warned [...]
Exclusive: UK retailers should copy TfL or they miss out on advertising cash, argues City bigwig September 15, 2022 Are UK retailers missing a valuable opportunity to earn money from advertising? A City insider thinks most big brands do, as he urges the High Street’s biggest names to look at TfL and copy their model by rolling out a retail media network. So-called retail media networks are one of the hottest emerging trends in [...]
London’s FTSE 100 dips after weaker than expected UK inflation September 14, 2022 London’s FTSE 100 dripped lower today after fresh figures revealed UK inflation is cooling. The capital’s premier index tumbled 1.47 per cent to 7,277.30 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, slid 1.66 per cent to below the 19,000 point mark. Traders were [...]
London’s FTSE 100 sheds early gains after worrying US inflation numbers September 13, 2022 London’s FTSE 100 shed all its early gains today after a hotter than expected US inflation report sent investors wobbling. The capital’s premier index slumped 1.17 per cent to 7,385.86 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, slid 1.78 per cent to 19,167.21 [...]
Ocado shoppers sent to cut back on spending at online grocer September 13, 2022 Ocado has warned its grocery shoppers will cut back on spending as they turn to cheaper supermarkets and add less to their baskets. In a trading update, the London-listed firm noted “accelerating trading down and smaller baskets, particularly over the last few weeks” and said it now expected to see “a small sales decline” in [...]
London’s FTSE 100 kicks higher ahead of Truss energy package September 8, 2022 London’s FTSE 100 kicked higher today after new prime minister Liz Truss launched an around £130bn cost of living support package. The capital’s premier index climbed 0.33 per cent to 7,262.06 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, added 0.36 per cent to [...]
New job: Ocado Retail appoints Hannah Gibson as CEO September 7, 2022 Ocado’s online grocery business has appointed Hannah Gibson as new CEO, as the company hopes to retain consumers amid the cost of living crunch. Gibson will take up her position on 20 September, stepping into the shoes of Melanie Smith, who left in July, Ocado Retail announced on Wednesday morning. She has spent more than [...]