The Bank of England has hiked the base rate to 0.75 per cent, following in step with the US Federal Reserve on Wednesday.
Deliveroo aims to reach breakeven in core earnings in around two years’ time and predicts a 15 to 25 per cent rise in the value of gross transactions on its platform this year – a slowdown from 70 per cent in 2021 when it was boosted by lockdowns.
The London-listed firm’s adjusted core loss widened to £131million last year compared to a loss of £11million in 2020, reflecting increased marketing spend and tech investment.
National Express has urged Stagecoach shareholders to back its merger offer over a rival takeover bid from DWS, which the board said ‘materially undervalues’ the firm.
Last week National Express’s £470million bid was gatecrashed by the German investment firm, which offered £595million.
>If you are using our app or a third-party site click here to read Business Live
Governor of the Bank of England Andrew Bailey
