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(Sharecast News) - Insurers risk sending struggling companies to the wall if they appeal against a High Court ruling on Covid-19 claims, the industry has been warned. Businesses were told yesterday that they may have to wait until next year for a verdict on claims on business interruption policies because insurers were considering an appeal against this month's test case judgment. The latest development potentially shatters hopes that businesses would receive swift payouts. - The Times
A wave of company collapses could follow the end of crucial legal exemptions giving directors vital breathing space to fight the pandemic, the Institute of Directors has warned. The failure to extend the suspension of "wrongful trading" rules could put further pressure on hospitality and leisure businesses already facing an uncertain future due to tightened coronavirus restrictions, the organisation said. - Daily Telegraph
Google is expanding its London office footprint in a demonstration of its commitment to the city and the future of office working. The tech group is in advanced discussions to lease an additional 70,000 sq ft close to its £1 billion new headquarters in King's Cross, The Times has learnt. - The Times
Ocado has overtaken Tesco to become the UK's most valuable retailer after its stock market value soared to £21.66bn. Tesco is worth £21.06bn despite controlling nearly 27% of the UK grocery market. By comparison Ocado, which is already worth more than double the combined value of Sainsbury's and Morrisons, sells just 1.7% of the UK's groceries. - Guardian
Mike Pompeo has praised America's relationship with Greece, describing a Nato base on Crete as home for an American warship and signalling a cooling of relations with Turkey. The US secretary of state said that his visit yesterday to the Greek island and its Souda Bay base, where America has stationed the USS Hershel "Woody" Williams, "showcased the strongest military relationship in Europe, a pillar of stability in the eastern Mediterranean." - The Times
24 Aug 2023 08:23
UK supermarket Asda launches fresh round of price cuts
LONDON, Aug 24 (Reuters) - British supermarket Asda on Thursday followed rivals Ocado Retail and Sainsbury's in announcing a fresh round of price cuts, adding to the downward trajectory in UK food inflation.
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