The Works continues post-pandemic comeback as arts and crafts sales soar September 23, 2022 The Works continues its valiant post-pandemic comeback as revenue climbs for the high street arts and crafts store. For the year ending 1 May, total revenue hit £264.6m for the retailer, up 46.5 per cent compared with 2021 levels. This was bolstered by the fact that two-year like-for-like sales climbed 10.5 per cent, with positive growth [...]
Matalan secures deadline extension for £350m debt payment October 17, 2022 Matalan has announced that its debt payments have been kicked back several months, buying the high street retailer more time to find cash. The discount clothes retailer said that a January deadline to refinance £350m of debt has been pushed back to July. Matalan described the update as “an important milestone” in its recapitalisation plan [...]
Exclusive: Spirits set for double digit tax rise in industry’s largest duty hike since 1643 November 11, 2022 Distillers have warned that they’re being squeezed to the bone following the government’s decision to scrap the alcohol duty freeze. With massive increases in the cost of living, a tax increase of almost 16 per cent is set to hit consumers in the pocket just before Christmas. New industry analysis shows that the potential hike, [...]
City A.M. rules for life: Top tips to brighten your January January 16, 2024 hopefully these few little measures – my unofficial rules for life – might boost the spirits a little during this cold January
The American dream: Flutter upgrades US outlook with ‘no sign of slowdown’ November 9, 2022 The American dream continues for Flutter, as the betting giant boosts it revenue guidance for its US business Fanduel. The Paddy Power and Betfair owner told investors its third-quarter revenues rose 22 per cent year-on-year to £1.89bn, bolstered by a recent Italian acquisition and stateside success. US revenue surged 82 per cent to $700m, pushing [...]
Q&A: Who are the Houthis, and why are we involved in Yemen? January 12, 2024 The UK, in concert with the USA and with the backing of a raft of nations including Canada, Australia and Bahrain, last night launched military attacks on facilities used by Houthi rebels in Yemen. The Houthis have in recent months begun targeting international shipping passing through the Red Sea. Earlier this week a British warship [...]
London shops hit by falling footfall as Brits tighten belts amid inflation July 7, 2022 Central London shops may see a spending slowdown in the weeks to come, with city centres still reeling from the impact of office workers remaining at home, industry experts have warned. While the gap between 2019 footfall levels did narrow slightly in June versus May due to the Platinum Jubilee, sales lagged towards the end [...]
These six vineyards are the best places to drink British wine October 18, 2023 These six vineyards offer great experiences with British wine, from tasting menus to tours and other activities
More trouble for Black Friday as DS Smith workers vote to strike November 7, 2022 Workers at packaging giant DS Smith voted in favour of strike action this afternoon, adding further pressure on the likes of Amazon in the run up to Christmas. The GMB union said that almost 1000 staff voted for action, adding that the move could have “serious implications” on household names like Amazon who rely on [...]
Oil prices hit three week high as traders bet on the end of Chinese zero-Covid rules December 27, 2022 Oil prices hit a three-week high on Tuesday as China’s latest easing of COVID-19 restrictions spurred hopes of a fuel demand recovery, with further support coming from cuts to U.S. energy production caused by winter storms. China will stop requiring inbound travellers to go into quarantine, starting from Jan. 8, the National Health Commission said on Monday [...]