Wednesday newspaper round-up: Ocado, Uber, Hipgnosis

by | Mar 17, 2021

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Britons are planning to use a hefty chunk of the savings built up over the past year to go on a £50bn spending spree once restrictions are lifted, a report has said. Research by the Isa provider Scottish Friendly and the consultancy, the Centre for Economics and Business Research (CEBR), found that households intend to take more holidays at home and abroad, travel, and go out to eat in cafes and restaurants. – Guardian
Ocado has given its eponymous food range a facelift, with 100 new products and less packaging, as part of a major rebrand that is ditching its trademark green for purple to stand out in an intensifying online grocery war. The retailer said a fifth of the 530 products in Ocado’s own-label range had changed ahead of Wednesday’s launch, highlighting new upmarket additions such as Chimichurri British flat-iron steak. – Guardian

Taxi app Uber has agreed to give its 70,000 British drivers holiday pay and pensions following a landmark ruling by the UK’s top court which threatened to prompt a deluge of cases against the US company. Uber said from tomorrow, all of its UK drivers would receive holiday pay on a fortnightly basis and would automatically be enrolled onto a pension plan, where the company would be contributing alongside drivers. – Telegraph

Music IP owner Hipgnosis has bowed to mounting pressure over transparency disclosures, and pledged to provide more information on how its song catalogue is performing following a flurry of swoops on hits by the FTSE 250 firm. Hipgnosis, which raises money from investors to buy the intellectual property rights to songs, currently owns rights to the back-catalogues of artists including Neil Young, Take That and Blondie. – Telegraph

 
 

The first big UK property fund to be gated more than a year ago because of wobbles in the commercial real estate market may stay shuttered for another three months. M&G Property Portfolio, a £2.06 billion fund with thousands of small investors, said it hoped to reopen before the end of June. It reported that it had sold another £97.7 million of assets since its last update, taking its current cash level to 25.3 per cent of the fund. A total of £329 million of asset sales were under offer or had exchanged. – The Times

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