Ocado Drops as Online Consumers Cut Grocery Spending
Ocado Group Plc shares fell as the online grocer struggles with a dip in post-pandemic e-commerce spending and consumers return to brick-and-mortar stores.
Bloomberg Business
Liberty Mutual Considers $1 Billion Latin America Sale
Liberty Mutual Holding Co. is exploring a sale of its Latin America businesses as part of the US insurer’s divestment plans from non-core markets, according to people with knowledge of the matter.
Brexit Rules Cost Britain 330,000 Workers, Economists Say
Brexit immigration curbs have led to a shortfall of 330,000 workers in the UK, contributing to a tighter labor market and fueling inflation, a report showed.
Investors Most Underweight on US Stocks Since 2005, BofA Poll Shows
Investors are the most underweight on US equities since 2005 as improving market sentiment sends them flocking toward cheaper regions, according to Bank of America Corp.’s global fund manager survey.
Boris Pistorius to Be Named German Defense Minister: Spiegel
Lower Saxony’s Interior Minister Boris Pistorius will be taking over the department from Christine Lambrecht, who had previously submitted her resignation, Der Spiegel reports, without saying where it got the information.
Ailing Singapore Crypto Firm Vauld Gets More Time to Restructure
A Singapore court extended the period of creditor protection for crypto lender Vauld to Feb. 28 because the company has yet to come up with a revival plan, according to a person familiar with the matter.
THG Falls After Strategic Review, 2022 Profit Guidance Cut
THG Plc is reviewing the future of its loss-making businesses outside of the beauty, nutrition and Ingenuity platforms with profit at the struggling British online shopping emporium expected to be lower than forecast.
Tesla, BYD Finalizing Deals to Invest in Indonesia EV Space
Tesla Inc. as well as Chinese automaker BYD and South Korea’s Hyundai Motor Co. are finalizing deals to invest in Indonesia’s electric-vehicle industry, said a senior minister.
Xpeng Follows Tesla With Major Price Cuts on China Electric Cars
Xpeng Inc. has bowed to an intensifying price war in China’s electric-vehicle market, lowering those on its models by as much as 12.5% Tuesday after Tesla Inc.’s surprise cuts at the start of the year.
ECB’s Centeno Says Euro-Zone Economy Is Surprisingly Positive
European Central Bank Governing Council member Mario Centeno said the euro-area economy is performing better than many anticipated in the face of record inflation and the energy crisis that erupted after Russia attacked Ukraine.
