Milkmen get to service the e-community
And not just bored housewives...
The local milkman will soon be harnessed for delivering goods such as computers, CDs, toys and trainers, as well as the usual two pints of goldtop and a dozen eggs. Yesterday saw Express Dairies sign a deal with m-box, an online home shopping company. Express will use its national network of delivery centres and electric milk floats to deliver for and collect orders from various e-tailers. The company's milkmen and women currently service more than seven million UK households every day.
Shares in online bank Egg fell for the sixth day yesterday. The bank, 80 owned by Prudential, saw its share price drop eight pence to 134.5 pence - it has lost about a quarter of its market value since it floated a month ago.
The company, which expects to lose about £150 million this year, has a market value of £1.1 billion.
E-tailer Letsbuyit.com's IPO was under scrutiny again yesterday as one of the four banks handling the issue pulled out. Cologne-based Sal Oppenheim gave no explanation for the move. Letsbuyit.com does not expect to make a profit before 2003, but claims it has enough cash to cover its next two to three months of expenses.
A representative for the German company remained upbeat. "We are still expecting to start trading on Wednesday," he told the FT ®