Ocado will launch the first trial of its one-hour delivery service next month, as it squares up to retail giant Amazon.

The service, dubbed Ocado Zoom, will carry fewer than 10,000 products available for delivery within 60 minutes.

It will cater for smaller basket sizes of below £60, compared with the average Ocado order of £107.

Investors were told of the project in a presentation accompanying Ocado's full-year results on Tuesday, but further details have yet to be released.

It is claimed that adding the option will ramp up the online grocer's competition with Amazon by rivalling its Amazon Prime Now product.

Bruno Monteyne, analyst at Bernstein, said the size of the range would make Ocado's service a serious contender against Amazon.

He said: "If it is combined with the traditional very high availability of Ocado's current offer, that will massively exceed the current Amazon Prime Now execution level, which in our tests struggles from important range gaps, very low availability and poor user interfaces."

The Herald:

Quadriga, Canada's largest cryptocurrency exchange, has been unable to access millions in digital currency following the sudden death of its founder.

Gerald Cotten, who died in December aged 30, had sole responsibility for handling the funds and coins, it was reported.

Quadriga has now filed for creditor protection and estimates that about £105 million in cryptocurrency coins.

The BBC said an affidavit filed with the Nova Scotia Supreme Court shows Mr Cotten's widow Jennifer Robertson says that the laptop on which he "carried out the companies' business is encrypted and I do not know the password or recovery key".

The founder died unexpectedly due to complications with Crohn's disease while travelling in India, according to court documents.

Luxury fashion firm Ralph Lauren has cheered a better-than-expected performance over the Christmas season, with third quarter revenues up 5 per cent at 1.73 billion US dollars (£1.3bn) thanks to a concerted marketing push.

The group swung to a statutory net profit of 120m US dollars (£92.5m) for the quarter to December 29 against a loss of 81.8m US dollars (£63m) a year earlier.

It said revenues across Europe - including the UK - rose 10% to 415m US dollars (£314m) on a reported basis, with like-for-like sales up 4% thanks to a 13% rise in online trade.