Thursday newspaper round-up: Cashback, Ocado, EG Group
By Michele Maatouk
Date: Thursday 15 Oct 2020
(Sharecast News) - Shops will offer cashback without consumers needing to make a purchase, under Treasury proposals to protect people's access to cash. In 2019 consumers received £3.8bn in cash when paying for items at a till, making it the second most popular way of withdrawing money behind ATMs. - Guardian
Management consultants are being paid as much as £6,250 a day to work on the British government's struggling coronavirus testing system, sources have confirmed. Senior executives from Boston Consulting Group (BCG) are being paid fees equivalent to £1.5m a year to help speed up and reorganise the £12bn network that Boris Johnson said in May would be "world-beating". - Guardian
Ocado has lost the right to open a new depot in north London after the local council ruled that a planning application was misleading. The news emerged after Labour councillors in the area welcomed the move by the authorities in Islington. The decision could be a major setback for Ocado's ambitions to have depots closer to shoppers to cut delivery times. Other supermarkets, such as Tesco, have also begun building urban warehouses to dispatch online orders from. - Telegraph
Policymakers in Britain must do more to help people to find jobs in order to boost productivity and limit the long-term economic fallout from Covid-19, according to a report by the Organisation for Economic Development and Co-operation. In its latest forecasts for the UK economy, the body said that government interventions to protect jobs and incomes would lead to unemployment averaging 5.3 per cent this year. - The Times
Deloitte has resigned as auditor of EG Group, the British petrol stations company whose billionaire owners have agreed a £6.8 billion takeover of Asda, amid concerns about its governance and internal controls. EG Group, which owns nearly 6,000 petrol stations and reported more than €20billion of revenue last year, told its bondholders in a private notice this week that KPMG had been appointed as its auditor after Deloitte resigned with "immediate effect", according to the Financial Times. The firm had been auditing EG Group's accounts for four years. - The Times
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