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The Latest Breaking News from Tim Steiner

Pound holds firm as Starmer confirms he will stand down

The FTSE 100 closed up 74.58 points, or 0.7%, at 10,437.85.

Evening Standard

Ocado ‘regularly engaging with potential candidates’ to succeed boss

It comes after reports the firm was preparing to appoint a successor to Tim Steiner, one of the founders of the business in 2000.

Evening Standard

Ocado failing to deliver on its potential as one of UK’s great technology hopes

Firm’s automated warehouses are struggling to compete against swift deliveries from stores by bike riders

The Guardian - UK

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Ocado to axe 1,000 jobs amid £150 million cost-cutting overhaul

The group confirmed around 5 per cent of its global workforce is being cut

Evening Standard

Ocado’s share price is back where it started. Are its robots just too fancy?

Delivery company struggling to convince US chain Kroger, its most important customer, of the virtues of automation

The Guardian - UK

Ocado to cut 500 technology and finance jobs as AI reduces costs

Online grocery specialist takes advantage of tools that helped improve productivity of engineering team

The Guardian - UK

Ocado reveals further job cut plans as losses narrow

The group said the jobs would largely go in its research and development teams as it scales back investment in that area.

Evening Standard

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Ocado shares crash amid further job cut plans and disappointing outlook for 2025

Shares were down as much as 18 per cent in morning trading after their announcement

The Independent UK

Ocado shares jump as it narrows losses and boosts technology business

Revenues from tech arm, which sells robots to retailers, climbed by nearly 22% in six months to June

The Guardian - UK

The future is delayed at Ocado (again)

As shares drop by 12%, the ‘permanent shift to online grocery shopping’ its boss predicted during Covid looks absurd

The Guardian - UK

Ocado on the brink of relegation from the FTSE 100 after long run lower for its shares

Stocks in the online grocery retailer and cutting edge e-commerce tech firm peaked during the pandemic

Evening Standard

Ocado faces FTSE 100 relegation after failing to deliver on pandemic promise

Its shares soared as Covid seemed to be changing shopping habits for ever. But they have fallen 50% this year

The Guardian - UK

Ocado pay backlash looms as firm moves to offer boss £14.8m package

Investors urged to vote against online grocer’s remuneration for CEO Tim Steiner at upcoming AGM

The Guardian - UK

Ocado ‘could sue’ M&S in dispute over £190m final payment

Marks & Spencer, which owns 50% of online grocer, is withholding part of the sum, saying targets were missed

The Guardian - UK

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The Guardian - UK

True believers in Ocado should not be tempted by Amazon

The speculated bid price of £8 today should not excite those who think a return to £28 is conceivable

The Independent UK

2,300 staff affected by Ocado plan to shut warehouse

The online grocer will close the site in Hatfield, Hertfordshire, which accounts for about a fifth of its customer orders each week, later this year

The Independent UK

2,300 staff affected by Ocado plan to shut oldest warehouse

The online grocer will close the site in Hatfield, Hertfordshire, which accounts for about a fifth of its customer orders each week, later this year.

The Guardian - UK

The long term seems to be getting longer for online grocer Ocado

International adventures will be the crucial contributor but the UK operation is not irrelevant to the wider story

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Wales Online

Ocado losses almost triple as shoppers buy fewer items than in pandemic

The company's losses went from £177 million in 2021 to £501 million last year

The Guardian - UK

A quarter of British shoppers struggle as grocery prices soar

Households paying £811 a year more on grocery bills than 12 months ago, says research firm Kantar

The Guardian - UK

Better than 50/50 chance government will extend energy bill support, says Martin Lewis – as it happened

Money saving expert predicts government could decide not to lift average energy bills to £3,000 per year in April, after pressure

Evening Standard

Ocado plunges £211m into the red as online customer orders dwindle

Ocado shares have fallen 52% since the start of the year

Evening Standard

Ocado boss quits after ‘extremely challenging’ tenure

Smith has been CEO since 2019 when the company announced a joint venture with M&S

Chronicle Live

Food prices not the issue, says boss of UK's second most expensive supermarket

Hikes in energy and fuel costs are the real problem in the cost of living crisis, says co-founder of online grocer Ocado

The Guardian - UK

Ocado investors rebel over £20m-a-year bonus plan for CEO

Almost 30% also reject overall renumeration policy during AGM of online grocery specialist

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