Real wage growth lowest since 2014 as inflation starts to bite February 15, 2017 Wage growth for British workers has slowed as inflation pushed down real earnings to their slowest increase since December 2014. Average weekly earnings grew by 2.6 per cent in the year to December before inflation is taken into account, according to the Office for National Statistics. However, when the increasing cost of living is added [...]
Insurance discount rate debate: A fundamentally flawed decision that could cost the sector billions February 22, 2017 No one can dispute the right of someone seriously injured in an accident to receive compensation. Where claimants choose to take a lump sum, arriving at the right figure is no easy task as it needs to take into account the long-term cost of care and loss of earnings, among other things. A key component [...]
HSBC marks out the winners and losers from the national living wage October 19, 2016 HSBC has today outlined how businesses can combat the cost pressures of the national living wage – and the kind of companies that will be the winners and losers from the legislation. The best way to offset the new costs is to find productivity growth, HSBC analysts said in a note, although "this would require a [...]
B&M side-steps clouds gathering over retail stocks January 4, 2017 B&M has side-stepped the overall gloom surrounding retail stocks this morning, rising over seven per cent in morning trading after a strong trading update. Other retail stocks – including Marks and Spencer's, Debenhams' and Associated British Foods' – have taken a hit today after Next tumbled 11 per cent at the open. Read more: Next [...]
Why a Singapore-style London would be run by Jeremy Corbyn January 13, 2017 Occasionally, highly educated Londoners half-jokingly, half-wistfully suggest the city should declare independence from the rest of the country. They really mean independence from provincial England, whose values and political priorities they abhor. They aspire to live in a city friendly to business and the successful – an open-minded city, open to the world. Would they [...]
This is what consumers are most worried about this year January 4, 2017 It's only day four of 2017 and we're already tearing our hair out about what the new year will bring. Top of the list of consumers' concerns is that poorly-defined political concept: Brexit. Read more: More money in your pocket? Not for much longer, say economists Few of us even know what Brexit means – Prime Minister Theresa May [...]
Big pub companies have plenty to toast as turnover bubbles up 11 per cent in last year November 14, 2016 As many as 29 pubs close each week but the turnover of the UK's top 100 pubs and bars has increased by 30 per cent since 2008/09. According to Ortus Secured Finance, the turnover of the top 100 pub and bar companies reached £11.7bn in 2015/16, up from £8.9bn in 2008/09 and that figure has grown [...]
Landlords are already whining about the scrap to letting agents’ fees and say rents will go up November 23, 2016 People across the country will be cheered by the news that chancellor Philip Hammond will scrap letting agents' fees in the Autumn Statement today. The measure is designed to save renters from hundreds of pounds of upfront charges, but, unsurprisingly, landlords and letting agents are outraged by the change, and are threatening to push up [...]
Here’s how the Autumn Statement will affect your local pub November 23, 2016 Without mentioning the pub industry directly, the Autumn Statement laid out a handful of policies that will affect the sector. Here are the industry's top concerns. Increasing the National Living Wage will hurt pubs Wages for over-25s will rise 30p to £7.50 per hour in April 2017, and the rates of National Minimum Wages will increase as [...]
Break out the bubbly: Marston’s reports continued profit growth in its premium pubs and beers November 24, 2016 Marston's premium pubs and beers reported profit growth across the board despite cost pressures and economic uncertainty in the sector. The figures The operator of Pitcher & Piano and Revere reported underlying revenue of £905.8m, up seven per cent for the year ended 1 October. Profit before tax increased by seven per cent to £98m. The average profit per pub was up eight [...]