Uber, Broadcom, Costco, Royal Mail and Boohoo

Millerchip added there’s a “bifurcation” among consumers when it comes to food shopping with some buying higher-priced meats, while others going for lower priced items like poultry, some cuts of beef and pork.

Costco shares were flat on Thursday and were little changed in pre-market trading on Friday, though the stock is up 50% year-to-date.

In the UK, regulator Ofcom said that it had fined Royal Mail £10.5m for “poor delivery performance”.

Ofcom said this was the second sanction in just over a year as Royal Mail – whose parent company is International Distribution Services (IDS) – failed to significantly improve service levels.

Ian Strawhorne, director of enforcement for Ofcom, said: “With millions of letters arriving late, far too many people aren’t getting what they pay for when they buy a stamp. Royal Mail’s poor service is now eroding public trust in one of the UK’s oldest institutions.

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“This is the second time we’ve fined the company since the pandemic. Royal Mail has provided an improvement plan, and we’re seeing some signs of progress, but it must go further and faster to deliver the service that people expect.”

In response, IDS said: “Throughout this year we have continued to implement substantial changes to drive improvements.”

IDS said that while it was making the necessary changes to deliver for customers.

“However, it is essential that these efforts are backed by urgent reform of the universal service, restoring it to a level that meets the needs of today’s postal users, not the needs of customers 20 years ago,” IDS added.

IDS shares were flat on Friday morning, following the news. Earlier this year, IDS agreed to a £3.6bn ($4.5bn) takeover offer from Czech billionaire Daniel Kretinsky’s EP Group, with the deal close to being finalised.

Fast-fashion retailer Boohoo said on Friday that it would be willing to offer a single seat on its board to Frasers Group, but not to its founder Mike Ashley nor to restructuring expert Mike Lennon.

This is the latest update in a public row between Boohoo and Ashley’s Frasers, which has been trying to gain more control at the fast-fashion retailer.

Friday’s statement from Boohoo comes a day after Frasers published another open letter to shareholders. In the letter, Frasers said there were “no real governance or conflicts concerns, or competition law or other regulatory issues” in terms of appointing Ashley and Lennon to Boohoo’s board, urging investors to vote in favour of this resolution.

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Derren Nathan, head of equity research at Hargreaves Lansdown (HL.L), said that Boohoo has “shown some willingness to allow Frasers representation in the boardroom in the form of a single seat if it puts forward an ‘appropriate’ candidate”.

“But this move has the potential to be viewed as inflammatory rather than conciliatory. Flies on the wall at next week’s general meeting could bear witness to some heated discussions,” he added.

Boohoo shares were up nearly 2% on Friday morning, while Frasers shares were down just less than 1%.

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