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 [...]
UK’s review of remote working holidays sparks tax crackdown fears September 1, 2022 The UK’s Office for Tax Simplification (OTS) has opened a review into those who work abroad remotely, in a sign the government may soon begin to crack down on remote working holidays. The OTS has begun collecting data on people who work for UK companies from abroad, following a major uptick in the numbers of [...]
London’s FTSE 100 struggles for direction ahead of Jackson Hole August 25, 2022 London’s FTSE 100 struggled for direction today driven by investors seemingly holding positions until central bankers signal at Jackson Hole how firm they will be with taming inflation. The capital’s premier index added 0.11 per cent to reach 7,479.74 per cent, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health [...]
Sharpening inflation concerns weigh on FTSE 100 retailers August 23, 2022 Sharpening concerns over high inflation triggering a slowdown in consumer spending weighed on London markets today. The capital’s premier FTSE 100 index dropped 0.61 per cent to 7,488.11 points, while the mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.99 per cent to 19,306.89 points. Retailers [...]
Morrisons, Tesco and Sainsbury’s suspend sales of disposable barbecues amid heatwave August 12, 2022 Morrisons, Tesco and Sainsbury’s are among a slew of household names to halt sales of disposable barbecues owing to warm weather concerns. There have been warnings about potential fires due to high temperatures this summer, as large swathes of the country have been categorised as drought status. Morrisons said in a statement on Friday: “In [...]
Ocado appoints CEO to head up new technology division to focus on robotics handling July 28, 2022 Online grocer and tech firm has appointed its current chief operating officer to a new role as top boss of a new Ocado division. Mark Richardson will step into the newly-created role of CEO as a new business which will extend Ocado’s “product offering into new market sectors alongside grocery.” The upcoming launch of products [...]
Ocado losses swell as shoppers add less items to their baskets amid cost of living crunch July 21, 2022 Ocado has posted swelling losses after shoppers have added less items to their shopping baskets following the cost of living crunch and easing of lockdown restrictions. Losses widened to £211m, from £27.9m the year prior, for the six month period to 29 May, as customers tightened their purse strings as inflation surged past new 40-year [...]