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Ocado takes on Tesco
OCADO is now pricematching 10,000 Tesco items.
The online grocer’s announcement came as the company reported losses of more than £500 million (€561.6 million) in 2022.
Food prices began to surge last year after the war in Ukraine sparked a huge rise in energy costs and at the same time disrupted imported supplies of grain, vegetable oil and fertiliser. While prices at all supermar kets have risen during this time, the big chains are now in fierce competition to maintain their share of the market.
Ocado has pricematched Tesco in the past but had not done so recently. However, on March 1 it began comparing prices with 10,000 ‘likeforlike’ products on Tesco’s website and will give customers money off their next shop if their order would have been cheaper at Tesco.
SPAIN’S National Securities Market (CNMV) is analysing possible limitations for Spanish companies wishing to list securities in Spain and the US.
Rodrigo Buenaventura, CNMV president, explained that “numerous” Spanish companies traded on US stock exchanges via the American Depositary Shares (ADR) system of certificates deposited with a US bank.
“Some indexes, like Nasdaq, admit ADRs,” Buenaventura said. “Others, no.”
He stated that until now the CNMV has not received enquiries regarding the hypothetical difficulties cited by Ferrovial in listing a Spanish company in the US while registering shares in Spain.
