Southeast Asia’s startup ecosystem is facing a funding drought and a scandal involving Indonesian agritech unicorn eFishery, which is being investigated for financial malpractices. The company, backed by investors like SoftBank Group and Temasek Holdings, is accused of inflating revenue by $600 million and hiding a $35.4 million loss. EFishery’s board has appointed FTI Consulting as acting management amid discussions of liquidation or buyout by investors.
Full Article
Decline of working from home means resurgence of the big weekly shop, says supermarket boss
Sainsbury's CEO Simon Roberts has noted a resurgence in big weekly shopping trips as more customers return to the office post-Covid, seeking convenience and value. The supermarket plans to invest in food-focused refurbishments, adding 1,300 new food lines while reducing non-food space. Under Mr. Roberts' leadership, Sainsbury's has seen an increase in market share and volume, with an expected annual operating profit of £1.03bn. Full Article
Read more