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 [...]
Ocado boss Steiner ‘energised about future’ despite succession battle Retail Ocado boss Tim Steiner has insisted he is “as excited and energised” about the firm’s future following a battle over his succession which will see him depart in around 18 months. The co-founder and chief executive of the FTSE 250 firm is expected to step back from his current role as soon as December 2027 [...]
As it happened: FTSE 100 recovers after oil surge dampens mood; Strikes in the Strait of Hormuz Markets Welcome back to the Morning Wire liveblog. Oil prices are marching higher after the latest wave of military action in the Middle East following the US reinstating its blockade on imports from Iran. Brent crude – the international benchmark for oil prices – surged above $84 per barrel on Tuesday, bringing gains for the week [...]
Ocado founder Steiner set to quit as boss after board coup July 6, 2026 Ocado chief executive Tim Steiner will quit the business he founded as part of a replacement plan masterminded by chairman Adam Warby. The FTSE 250 firm, which offers online shopping and warehouse automation services, said on Monday that Steiner will depart at the start of its 2028 financial year. Ocado’s share price fell nearly five [...]
Mark Kleinman: Share price slump moves Steiner closer to Ocado checkout June 25, 2026 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his Morning Wire column Share price slump moves Steiner closer to Ocado checkout Five words might have given it away: “Ocado confirms that the CEO and the board continually engage in long-term succession planning and regularly engage with potential candidates,” said the somewhat [...]
Ocado to replace founder Steiner as shares plunge June 22, 2026 The board of Ocado is on the hunt for a successor to its founder and chief executive, Tim Steiner, as the e-commerce group faces up to a rapidly falling share price. The FTSE 250 firm, which offers online shopping and warehouse automation services, confirmed on Monday that it is putting together a succession plan for [...]
Ocado shares rocket after striking Asda home deliveries deal May 29, 2026 Supermarket giant Asda has struck a deal with Ocado for the grocery technology company to take over all home deliveries from next year, as it looks to completely overhaul its online shopping business. Ocado will “quickly replace and upgrade” Asda’s existing e-commerce structure, taking control of the supermarket’s delivery operations form stores and warehouses from [...]
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. [...]
Who Gives a Crap: The toilet roll tycoon making a splash May 6, 2026 Simon Griffiths founded Who Gives a Crap toilet paper with the philanthropic aim of ensuring everyone has access to a clean toilet. He has raised £11m so far, but Griffiths tells Felix Armstrong that’s not nearly enough “I was always an entrepreneurial kid at school,” Simon Griffiths says, as he explains the complex process of [...]
Why there’s more to Sauvignon Blanc than your ‘standard’ Savvy B April 29, 2026 Sauvignon Blanc remains anchored in the UK’s top three white wines and this fantastically flavoursome grape gets to celebrate its success with International Sauvignon Blanc Day on the first Friday in May. It can be enjoyed in many guises, so which one appeals to you? If you like a wine that makes an entrance and [...]