End the war on pubs — hospitality isn’t to blame for the Covid crisis October 21, 2020 2020 should have been a year of cheering on our teams in the European football finals and Olympics from pubs and bars across the land, bolstered by meals out in beer gardens throughout a typically blistering British summer. Instead, thanks to Covid-19, this year will be remembered for social distancing, job losses, and uncertainty. After [...]
Brexit Day celebrations: How the UK is marking 31 January January 31, 2020 After nearly four years since the EU referendum in June 2016, Brexit Day is upon us. Great Britain will finally cut its ties with the European Union on 31 January after that date was repeatedly delayed. The original Brexit date was 29 March 2019. But that was pushed back to 31 October and then 31 [...]
‘Financially illiterate’: Tim Martin has a scathing assessment of Glass Lewis advisory service November 3, 2019 Tim Martin, the boss of JD Wetherspoon pubs, has launched a broadside against shareholder adviser Glass Lewis, after it said investors should vote against the company’s pay policy. Glass Lewis, which is the second-biggest shareholder advisory service in the world, raised concerns about a “significant” increase in pay for the pub group’s finance chief for [...]
What will Boris Johnson’s ‘roadmap’ for exiting lockdown look like? February 22, 2021 Boris Johnson has vowed to set out a “roadmap” for lifting lockdown measures this afternoon, as the UK continues to make rapid progress with its vaccine rollout. While the shape of the timeline has yet to be revealed, the Prime Minister has said he will provide dates for lifting specific measures “if we possibly can”. [...]
Exclusive: Kimberly-Clark’s EMEA president on Kleenex demand exploding overnight June 2, 2021 Since Covid took over our lives, the demand for personal care and hygiene products has gone through the roof, changing consumer behaviour and buying patterns forever. To discuss how this has impacted one of the biggest players in the industry, City A.M. sits down with the EMEA president of Kimberly-Clark, the owner of brands like [...]
Foxtons will take ‘all necessary steps’ to stay in business amid coronavirus outbreak March 20, 2020 Foxtons issued a trading update this morning advising that it will take “all necessary steps” ahead of the “inevitable material disruption to trading in the coming months.” The estate agent reassured investors that the first 11 weeks of the financial year had been in line with expectations but warned that the “significantly weakened economic outlook” [...]
Marston’s and Carlsberg to unite brewing operations in £780m joint venture May 22, 2020 UK pub chain Marston’s share price skyrocketed today as it announced a plan to merge its brewing business with Carlsberg’s UK division in a £780m deal. The joint venture will value Marton’s Brewing Business at up to £580m and Carlsberg’s at £200m. But despite Marston’s superior valuation, the pub chain will only own 40 per [...]
High rents force three in four hospitality businesses to consider restructure or insolvency October 5, 2020 73% of London-based hospitality and leisure operators are considering a restructure or insolvency as a result of the economic impact of the ongoing pandemic. Advisory firm Cedar Dean, which surveyed 230 hospitality and leisure businesses with around 2,000 venues across the UK, found that rental obligations are currently the most pressing issue. 86% of London-based [...]
Chancellor Rishi Sunak to announce wage bailout plan March 20, 2020 Chancellor Rishi Sunak is set to announce a massive wage bailout package today to battle the UK coronavirus outbreak. Business groups yesterday pressed the government to step in to help pay workers’ wages. They want protection for millions of jobs as the number of UK coronavirus cases spiked again. Britain’s death toll from coronavirus reached [...]
JD Wetherspoon faces opposition to finance director’s pay rise November 4, 2018 JD Wetherspoon may be hit with a shareholder revolt at the pub chain’s annual meeting this month over proposals to boost the finance director’s pay by more than 10 per cent. Proxy advisers ISS and Glass Lewis have recommended that investors oppose a 12.3 per cent increase in salary for finance chief Ben Whitley to [...]