Ocado sued by Norwegian competitor

October 2, 2020

@peter_IFAMAG reads Twitter so you don’t have to.

Donald Trump tests positive for COVID; US markets react to ever greater uncertainty for the upcoming election. In the UK today; Ocado sued over robot warehouse tech, while Issa Brothers and TDR Capital buy a majority stake in ASDA, for £6.8bn.

US futures took a sharp dip this morning, following President Trump’s positive COVID test.

U.S. futures. Down. pic.twitter.com/12c0LZ5Dnb

— David Ingles (@DavidInglesTV) October 2, 2020

Oil markets also dive today.

Oil markets not responding well to the news this morning that President Trump has tested positive for coronavirus.

Brent and WTI both down around 3% and heading for a second consecutive week of declines. pic.twitter.com/0TlWSvF8Y6

— Ed Clowes (@EdClowes) October 2, 2020

In the UK Arash Massoudi points out that Rolls Royce’s market cap is down 80% from the start of 2020.

Rolls-Royce, one of the UK's most strategic companies and major employers, now has a market value of just £2.3bn.

Down 82% since the start of the year. https://t.co/qsIqM3cFvX pic.twitter.com/LtJt9LzlhP

— Arash Massoudi (@ArashMassoudi) October 1, 2020

Ocado sued by Norwegian competitor over robot warehouse tech.

https://twitter.com/telebusiness/status/1311953953580552193

David Nguyen uses data to explain how Ocado has become the most valuable retailer in the UK, despite selling 2% of groceries.

https://twitter.com/d_vidnguyen/status/1311969003695419392

Also in the UK supermarket space; the Issa Brothers and TDR Capital buy a majority share of ASDA.

Asda deal confirmed: Issa brothers and TDR Capital buy majority stake in supermarket chain in £6.8 billion deal. Will have equal shareholdings with Walmart also retaining stake

— Graham Ruddick (@GrahamtRuddick) October 2, 2020

And finally, The Economist asks; ‘what were the point of offices anyway?’