Tesco has apologised to its online customers unable to get on its website as the supermarket seeks to cope with high demand for Christmas bookings.

The UK’s largest retailer has had to install a queuing system online to help it to manage the demand.

Some customers complained to Tesco that they had been waiting hours to get onto the supermarket’s website.

“We’re sorry if things take a bit longer than usual,” Tesco said on its Twitter account.

“A lot of customers are using our website and app at the moment.”

Tesco said it was “using a virtual waiting room to help us manage the flow”.

Supermarkets have been overwhelmed with demand as people start to plan for Christmas, and rival Ocado has already sold out of slots after “huge” demand.

One Tesco customer said on Twitter: “We use delivery saver because we have 3 young children and both parents work … Read the rest



Featured Earnings

Baidu Inc. (NASDAQ:BIDU) (Q3) EPS projection for 99 cents, compared to $1.31 in the prior-year quarter.

JD.com Inc. (NASDAQ:JD) (Q3) EPS projection for 36 cents, compared to 19 cents in the prior-year quarter.

Palo Alto Networks Inc. (PANW) (Q1) EPS projection for gain of five cents compared to loss of 32 cents in the prior-year quarter.


Economic lookahead

Monthly Survey of Manufacturing (Sept.) Manufacturing sales fell 2.0% to $52.4 billion in August, following three consecutive months of strong increases.

CREA Stats (Sept.) The Canadian Real Estate Association said home sales climbed 0.9% in September from August, raising them to a new all-time monthly record for the third month in a row.

Featured Earnings

K92 Mining Inc. (T.KNT) (Q3) EPS projection for eight cents, compared to 11 cents in the prior-year quarter.

MediPharm Labs Corp. (T.LABS) (Q3) EPS projection for loss of three cents, compared to

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With the news headlines saturated by so many heavy impact events, it has almost been forgotten that the earnings season is not over yet.Next week will see one of 2020’s star performers step up to the plate. Nvidia (NVDA) will report quarterly results on Wednesday, November 18, and avid Street watchers will be keen to find out if the semiconductor giant hit another home run.So far, Nvidia has had an excellent 2020. The company has been a prime beneficiary of Covid-19 driven secular trends such as gaming and data center, Nvidia’s main bread winners.Overall, Deutsche Bank analyst Ross Seymore anticipates Nvidia will “deliver a solid beat” and expects both segments to post strong results. The 5-star analyst anticipates 153% year-over-year growth for Datacenter and a 27% year-over-year increase for Gaming, with the two segments making up 41% and 47% of sales, respectively.In total, Seymore expects Nvidia to report revenue of … Read the rest

Caffè Nero has been forced to launch a restructuring of its business following the second lockdown.

The coffee chain is launching a Company Voluntary Arrangement (CVA) which will allow it to renegotiate terms with its landlords and other creditors.

Caffè Nero, which employs 6,000 workers, said “the pandemic has decimated trading”.

It said it was able to navigate the first shutdown but the subsequent fire break necessitated “further action”.

The company trades across 800 shops in the UK and a further 200 sites overseas. A company facing insolvency can use a CVA to continue to trade while paying creditors such as landlords over a fixed period – if those creditors agree.

Caffè Nero said it had converted many of its shops to takeaway-only services during the first lockdown in March.

But following the second shutdown, it said that, “with many people continuing to work from home, ongoing limits to social … Read the rest

U.S. stock futures were higher early Friday as investors bet again on stocks that would benefit from a potential effective vaccine and economic recovery next year.

Futures for the Dow Jones Industrials jumped 198 points, or 0.7%, to 29,190.

Futures for the S&P 500 added 22.75 points, or 0.6%, at 3,555.25.

Futures for the NASDAQ Composite hiked 76 points, or 0.6%, to 11,896.

Shares of Disney gained 4% in pre-market trading after reporting better-than-expected results. Shares of Carnival Corp., United Airlines and Boeing gained in pre-market trading, capping big gains for the week.

Shares of Dow members Disney and Cisco rose sharply in after-hours trading after both companies reported quarterly results that beat analyst expectations.

Disney gained as the company said it now has 73 million paid subscribers for its streaming service, Disney+. The media giant also reported a smaller-than-expected loss for the quarter.

Cisco popped more than 6% on … Read the rest

(Bloomberg) — The stock rally sparked by Pfizer Inc.’s promising Covid-19 vaccine trial results boosted many investors’ fortunes, but none so dramatically as a pair of German brothers.Andreas and Thomas Struengmann have collectively added about $8 billion to their wealth this year thanks to their stake in BioNTech SE, the German firm that’s developing the vaccine with Pfizer. BioNTech’s American depositary receipts surged this week after the U.S. drug giant reported the shot they’re working on prevented 90% of symptomatic infections in tens of thousands of volunteers.At $22 billion, the twins have one of the world’s biggest health-care fortunes, according to the Bloomberg Billionaires Index. The brothers, 70, formed their empire by reinvesting the proceeds of their family’s generic drugs businesses.They “have reshaped their fortune by simply believing in science,” said Paul Westall, co-founder of family office recruitment firm Agreus Group.The Struengmanns didn’t respond to requests for comment.Athos ServiceThe brothers … Read the rest

The latest GDP figures showing the country’s record recovery after the first lockdown highlight what a catastrophic decision it was to impose an unnecessary second shutdown.

Britain briefly lifted out of recession in the summer, posting a massive 15.5% growth in the three months to September.

The economy shrank in the first three months of the year and contracted by a record 19.8% in the April-to-June period of the first lockdown. Two consecutive quarterly contractions usually mean the economy is in a recession.

Normally they are as a result of a banking crash or some other financial-driven catastrophe, rather than a microscopic bug that has impacted severely on the health of the population and as well as our economy.

But the following quarter’s sharp rise lit the way to V-shaped recovery and lifted us out of that recession. This was predicted by me and other business owners who urged the … Read the rest