Jun 13, 2019

Morrisons and Amazon expand their delivery partnership

On Thursday Morrisons has unveiled an expansion of that Amazon partnership to "Many more cities" across the UK. At the moment, customers in Leeds, Manchester, Birmingham and London and the surrounding area can get same-day grocery delivery through the Amazon Prime Now service. Morrisons will become an Amazon retailer as well as a wholesaler. If the Amazon tie-up doesn't work out, its online strategy can still pivot back to delivery via Ocado's robot warehouses in 2021. Group like-for-likes were just 0.2 per cent higher, taking sales to almost £14bn. Majestic Wine is in advanced talks to sell its retail and commercial business so it can focus on its Naked Wines subscription service. US private equity group KKR has offered to buy out minority shareholders in German media group Axel Springer in a deal that values the publisher of the country's best-selling newspaper Bild at €6.7bn. A European attempt to build a battery maker that can challenge Tesla and Asian rivals has won the backing of Volkswagen, Goldman Sachs, Ikea and BMW, helping the Swedish project to raise $1bn of fresh capital.

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