Ocado is set to drop out of the FTSE 100 after six years. Global index provider FTSE Russell said the online grocer is poised to get booted out when the latest reshuffle takes place in June. (The Daily Mail)
Once a stock market darling, Fever-Tree languished in the red – nursing yet another hangover. Yesterday, in the first session after the Bank Holiday weekend, Goldman Sachs said it was time to sell the stock as the investment bank downgraded its outlook. (The Daily Mail)
Leading online food delivery groups in Europe and the US have racked up more than $20bn in combined operating losses since they went public, after a fierce battle for market share. (The Financial Times £)
Revolution Bars Group has urged its shareholders to back an emergency £12.5 million equity raising after rejecting a putative offer from a rival nightclub operator as “incapable of being delivered” (The Times £). Revolution Bars has rejected a proposed offer from rival Nightcap - describing its bid as “incapable of being delivered” (Sky News).
Sales in British shops have bounced back in May, according to retail data that suggests slowing inflation is encouraging customers to buy more. (The Guardian)
Ruth Sutherland in The Mail writes: “After years of drab fashion and dismal financial performance, it really does look as though Marks is finally back on form. When so much of national life seems to be crumbling and dysfunctional, it’s comforting to hope we can at least count on M&S.” (The Daily Mail)
Orange juice prices have soared to record highs, driven by bad weather and disease in Brazil, the world’s largest exporter, prompting manufacturers to explore whether they can use mandarins instead to make the drink. (The Financial Times £)
The Guardian looks at Liquid Death: the viral canned water brand killing it with gen Z. The ‘rule-breaking’ US drink has landed in UK supermarkets. But what makes this water so special? (The Guardian)
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