Deutsche Bank has downgraded takeaway delivery firm Just Eat over £50m investment plan to fend off food delivery rivals Uber and Deliveroo, sending its share price further down. ( This is Money )
Online meal kit company Gousto has raised £28.5m from venture capital investors as it aims to be responsible for 400m meals in UK homes by 2025. ( Daily Telegraph ). See the report by The Grocer by clicking here.
Chinese takeaways and ready meals should carry compulsory health warning labels on menus and packaging to alert consumers to “astonishing and harmful” salt levels, UK health experts have recommended. (The Guardian)
Uber is beefing up its food delivery arm with plans to launch in 40 more UK cities. The US-based firm, known for its taxi smartphone app, said the move was part of a major expansion. (This is Money )
Farfetch, a luxury UK-based fashion website is gearing up for a stock exchange listing that is expected to value the company at more than £4bn – or close to the current market valuation put on the whole of Marks & Spencer. ( The Guardian)
Higher property costs and harsh trading conditions have led to pre-tax losses deepening at the owner of Cafe Rouge and Bella Italia. ( Daily Telegraph )
Retail tsar Bill Grimsey is to again lead a troubleshooting task force looking to revive Britain’s high streets after a string of collapses prompted fresh fears that town centres will become semi-derelict. ( The Guardian )
Shares in the fashion brand Prada has leapt by more than 14 %, after the Milan based group said like for like sales had turned positive for the first months of this year, after posting declines every year since 2014. ( Financial Times £ )