Member Info for chilting

SS seems to be moving slowly in for a hook-up later today.

Tim Steiner, Chief Executive Officer of Ocado Group, said:
"Over the last six months, my colleagues at Ocado Group have shown, in exceptionally demanding circumstances, the resilience, dedication and innovative spirit that has always characterised this business. I would like to thank them profoundly on behalf of all the stakeholders of Ocado.

The world as we know it has changed. As a result of COVID-19 we have seen years of growth in the online grocery market condensed into a matter of months; and we won't be going back. We are confident that accelerated growth in the online channel will continue, leading to a permanent redrawing of the landscape of the grocery industry worldwide. This will mean more demand for Ocado Smart Platform from current and prospective partners and our recent fundraising will ensure that we are able to meet that demand. It will also mean that we can invest more capital in innovation for our partners and further expand our leadership as the world's preeminent solutions provider in online grocery.

Seizing the future will, of course, require the same mix of constant questioning and innovation, focus, and quiet determination that has brought us so far. I have no doubt that we will rise to the challenge, taking advantage of a scale of opportunity that we have never seen before".

https://www.londonstockexchange.com/news-article/tidm/headline/14613747

From an M&S point of view the main thing to look out for is news on when Andover is due to reopen and when Bristol is due to open - in an ideal world it would be great to see both online for Christmas.

So that's 5.4% of the share capital by Accelerated Bookbuild leaving IP with just 0.2% - ours is not to reason regarding their logic - it looked to me that the SP was taking another step up but I guess it will be more subdued now.

I guess Glencar are on a good incentive package at Andover if they finish early and penalty payments if there are delays.

Don't forget Bristol is also nearing completion and may be ready before Andover.

It would be great if both were ready for Christmas.

Yes it is dreaming but in the real world its all that can be expected - breaking the law isn't.

The comparison with Bangladesh and Leicester isn't valid.
Life in a third world country will always be hard and working conditions will obviously be poor compared to the UK.
The workers in Bangladesh do have a right to working in a safe environment, hopefully the fire safety issues have now been addressed, and of receiving a fair wage for their needs. In the real world this is all they can expect.
But their counterparts in Leicester are being paid well under the national living way and clearly are not working in a safe environment.

I guess the shorts have a major advantage now - gained from the volatility.
They hedge their positions by going long - they could have brought in at under 90p in mid May.
Then borrow stock when the price is higher - that spike in early June to £1.20 gave them that opportunity - maybe they even engineered it.
This is all made possible by low volume so hopefully as volume increases towards the Autumn they will cash out and give the SP a boost - so there could be a silver lining.

Government action is highly likely now after the coronavirus outbreak in the city - Priti Patel seems to be taking a personal interest and she is certainly not one to be messed with!

The facts that have emerged over the last few weeks certainly indicate that Boohoo's competitive advantage has been gouged out of the plight of the workers who produce their textiles. This news story from Sky gives details.
Also consider one other fact - Boohoo buy about 70-80% of all textiles produced in Leicester.

https://news.sky.com/story/leicester-up-to-10-000-could-be-victims-of-modern-slavery-in-textile-factories-12027289

Hook-up now looking likely for later tomorrow - SS arrival has been amended at Scapa Flo to early Thursday morning.

JEFFERIES RAISES ENQUEST ENERGY TO 'BUY' ('HOLD') - TARGET 17 (15) PENCE

OPEC Ministerial Monitoring Committee - meets tomorrow.
Full OPEC+ meeting on Wednesday - cuts for August under discussion - main point to be decided is level of cuts - seem to be two options - 9.6 billion barrels a day or the original 7.7 billion barrels per day.

SS on her way

Excellent YOY25
Arrival back at Scapa Flo on Tuesday evening would indicate a Monday hook-up before midday.
Scott Spirit is still anchored in Scapa Flo after her last Kraken load so she will probably make a move for Kraken tomorrow.
Tuesday would be 10 days since the last load and indicate that production is returning close to 50k per day.
The weather is calm.

Stripping away the big stores and chains from a high street and converting the space to residential would I think create a very vibrant community. The local shops, takeaways and restaurants could still survive and prosper. Also redundant car parks could be allocated to the new resident community.

The country needs low cost housing - especially for the younger generation - this could be a great way to provide it, in a vibrant place where the youngsters want to live.

Have they sorted the dispute with the Indian Government?
Must be close - maybe a leak?

Or the numbers are not being reported correctly - as is the case in most countries - the number to look for is the number of additional deaths this year compared to a normal year - if the info is available.
In the UK the number of people dying this month has now fallen below the seasonal average - very good news!!!

Valueplay
The corona pandemic has give the UK retailers an opportunity to break with the past - we saw it with John Lewis yesterday, even shutting their Birmingham store - now groups like M&S can act with impunity and cut back much more drastically than in normal times.
It will have a domino effect the more that one chain cuts the more High Street's will become unviable locations and the more stores will close. In Sussex for example we are likely to see the demise of Worthing, Horsham and Chichester - all locations with large M&S stores that are unlikely to viable in the future - that will probably just retain a food store in these locations.

"MKS will be a victim not a victor on the high street."

Undoubtable true but the future of retail lies online not in the High Street - M&S through their deal with Ocado Retail are ready to exploit the online market and unlike their competitors, to whom online is just an extra expense, have the technology to do the job, increase market share and become the dominant player in the UK grocery market.