News in brief from the world of business and finance

News in brief from the world of business and finance compiled for you by Euro Weekly News.

Robot deliveries

THE Co-op Group in the UK has announced that it has entered into a partnership with Amazon Prime, enabling customers to shop online with a promise of same-day delivery. In addition, it will be extending its trial of using robot machines to make deliveries.

Mind the Gap

LAST July, US fashion group Gap indicated that it intended to pull out of the UK market completely but this is now to change as it has signed a deal with UK retailer Next to be represented online, with some concessions also going in store.

Digital technology

SWISS Company Wisekey which develops technology following principles based on the understanding that technology shall serve people and not people serve technology has teamed up with Gibraltar and La Linea to create the La Linea / Gibraltar 4th Industrial Revolution Centre of Excellence which was promoted in the USA

Taking off

AIRLINE bosses are furious with the management of Heathrow Airport as it appears that they intend to increase the charge per passenger this year, for long haul almost doubling from £38.33 to £67.86 (according to the Telegraph) in an attempt to recoup pandemic losses

Power play

A NEW Basque startup company Arrecife Systems has discovered a way of creating electricity by imitating the action of reefs which break down the power of waves and in this case, by using turbines they can harness the power of water (even in shallow rivers) to extract power.

Crazy price

€1.69 million is the amount that a collector paid to purchase in auction a vintage unopened copy of a Super Mario Bros computer game.

Vectura sale

DESPITE protests from health groups, Philip Morris International manufacturer of Marlboro cigarettes appears to have won its battle to take over British inhaler firm Vectura at a cost of £1 billion (€1.13 billion). Needing 50 per cent approval of shareholders it has reportedly gained three quarters.

Inditex up

A HUGE jump in sales by Zara (up from €5.5 billion to €8.5 billion) has helped Spanish clothing and home furnishing retailer Inditex to report a 49 per cent sales jump to €11.94 billion in the first half of the year ending July 31, 2021, when compared to 2020 results.

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