Ocado lets Marks & Spencer off hook in £190m payout dispute Retail Ocado has quietly let Marks & Spencer off the hook in a long-running £190m dispute over its home delivery joint venture. FTSE-250 Ocado has dropped its pursuit of the payout from M&S, which it believed it was owed as part of the business they run together, Morning Wire understands. The two companies took a 50-50 [...]
Why chilled red wine is the coolest thing to drink right now Wine Rosé is a safe summer bet, but the coolest thing to be drinking right now, in more ways than one, is a chilled red. There was an inkling that this was going to be a thing last summer, but now that chilly glass of rouge has its feet well and truly under the table. I [...]
JD Sports becomes latest blue-chip to trade on New York market Retail JD Sports has become the latest blue-chip firm to trade its shares onto a New York market in an attempt to boost its appeal to American investors without having to shift its listing to the US. On Wednesday, the retail giant will begin trading on OTC Markets’ over-the-counter market in America, Morning Wire can reveal, [...]
The Debate: Should CEOs be held personally accountable for cyberattacks? June 3, 2026 Is bad management to blame for cyberattacks? And even if not, should bosses be held accountable? We hear the case for both sides.
M&S chief’s pay slashed by £3m after cyberattack turmoil June 1, 2026 The boss of Marks & Spencer has seen his pay slashed by more than 40 per cent after a crippling cyberattack forced the supermarket to scrap its bonus policy across the business. Stuart Machin received £3.97m in the 12 months to April, according to the company’s annual report, down sharply from the £7m he was [...]
Lidl leapfrogs Morrisons to become UK’s fifth-biggest supermarket May 27, 2026 Lidl has soared past struggling Morrisons to become the UK’s fifth-biggest supermarket, as its heavy discounting gave the grocer an edge in the fiercely competitive market. The German grocer snatched an 8.6 per cent market share, powered by an 8.8 per cent uplift in sales across the last 12 weeks, according to data by Worldpanel. [...]
Retailers ramp up pressure on Reeves to scrap tax break for e-commerce rivals May 27, 2026 Retailers have urged Rachel Reeves to “revitalise the high street” by speeding up plans to close a tax break which they say unfairly favours Chinese e-commerce rivals. High street giants like Next, M&S and Primark have urged the Chancellor to impose a £2.60 flat fee on small parcels to rebalance a system which they say [...]
As it happened: FTSE 100 rises as oil slips; Analysts warn of ‘short-lived’ inflation drop May 20, 2026 Good morning and welcome back to the Morning Wire liveblog. The City has welcomed news of undershooting inflation this morning, but warning signs already suggest it’s a temporary blip. The Consumer Price Index rose 2.8 per cent in the 12 months to April, that’s under the three per cent pencilled in and a major drop [...]
Cyberattacks hit UK businesses with £3.7bn in legal costs last year May 18, 2026 Large UK businesses were forced to fork out £3.7bn to defend legal action brought by shareholders last year over cyberattacks, according to new research from insurance giant Gallagher and the Centre for Economics and Business Research (CEBR). Cyberattacks cost firms with over 250 employees an estimated £11.7bn in total, with litigation being the second largest [...]
ASOS shares soar as it offloads Lichfield warehouse to M&S in £66m deal May 11, 2026 Retail giant ASOS agreed to sell one of its stock warehouses to Marks and Spencer for £66m in the latest sign of its efforts to save money on rent and improve its financial position. The fashion retailer said the sale of the Lichfield fulfilment centre, which is expected to close by the second half of [...]