Ocado buys robotics start-up for $10.2m as online retail giant eyes automating grocery pick-ups May 23, 2022 Online grocer Ocado has inked a deal to buy a materials handling robotics start-up for $10.2m. In a deal worth the equivalent of £8.11m, Ocado has agreed to buy Myrmex, it announced on Monday. The UK supermarket snapped up a minority stake in the Athens-based firm in 2020. Myrmex was instructed to develop a programme [...]
40-year high inflation hits FTSE 100 and drags down pound May 18, 2022 City traders were today jolted by fresh figures revealing UK inflation is running at its highest level since the 1980s. The capital’s premier FTSE 100 index closed 1.07 per cent lower at 7,438.09 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.58 per [...]
Compass Group revenue forecast hike cooks up a storm on FTSE 100 May 11, 2022 A bumper crop of results sent shares in catering giant Compass Group soaring today helping London’s top index post a strong day. The capital’s premier FTSE 100 index climbed 1.44 per cent to 7,347.66 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, added 1.35 [...]
Ocado dodges rebellion as shareholders back pay boost for bosses May 4, 2022 Grocery tech giant Ocado has seen off an investor rebellion over its bosses’ pay packet despite two of the world’s biggest shareholders urging investors to vote against the plans.
Delphis Eco – cleaning up but no greenwashing May 4, 2022 For the founder and CEO of Delphis Eco, which supplies UK made, green and sustainable cleaning products, eliminating ‘greenwashing’ is key in not only to saving the planet but helping people to genuinely make a difference. This London-based company, established in 2007 by former banker Mark Jankovich and has been awarded the Queen’s Award for [...]
Plus500 hit by revolt on pay as shareholders ramp up pressure in AGM season May 4, 2022 London-listed fintech giant Plus500 was struck a blow by investors yesterday as shareholders voted down the firm’s remuneration report at its annual general meeting.
Shareholder rebellion to hit Ocado scheme over concerns of £100m windfall for boss May 2, 2022 Ocado investors are reportedly planning to turn their nose up at an extension of a share reward scheme which would see the retailer’s boss handed £100m. Two advisory groups, the Institutional Shareholder Service and Glass Lewis, have recommended investors to reject the proposal to lengthen the so-called “valuation creation plan” at its annual general meeting [...]
Brexit-supporting Newark in shock as largest employer shuts up shop and heads for mainland Europe April 21, 2022 Local media and residents in the English town of Newark, as well as its local MP Robert Jenrick, are said to be shocked and disappointed by the decision of food producer Goodlife Foods to shut up shop and move its entire production to mainland Europe. The decision is likely to result in around 110 job [...]
Ocado pays out £20k following fire safety resignation April 17, 2022 Ocado is set to fork out £20,000 in damages after a former employee raised alarms about warehouse fire safety issues. The company is facing allegations that the worker was forced out of his job after he said the cardboard materials and pallets blocked fire exits. The Telegraph reported that court documents said a “witch hunt” [...]
Grocers see more than £1bn wiped off value after Tesco profit warning April 14, 2022 Supermarkets had a total of more than £1bn chipped off their market value on Wednesday, after a warning over inflationary pressures from Tesco. Grocers including Ocado and Sainsbury’s suffered poor performances on Wednesday, after Tesco warned that profit could be hammered by rising costs and shifts in shoppers’ behaviour. Ocado took a hit on the [...]