Is Brexit making Britain a bargain for foreign investors? October 9, 2019 The pound has been one of the biggest casualties of Brexit so far. Sterling has lost around 10 per cent of its value against the US dollar and the euro since the UK voted to leave the EU in June 2016 and shed 5 per cent versus the yen. It has lost over 16 per [...]
Greene King toasts record Christmas trading amid cost-cutting plans January 8, 2019 Pub chain Greene King today recorded strong sales growth over Christmas and the New Year as it cashed in on festive drinking. Greene King said like-for-sale sales over the last two weeks rose 10.9 per cent, while Christmas day sales hit a record £7.7m. The chain, which operates almost 3,000 pubs, restaurants and hotels across [...]
Prince Harry and Meghan Markle wedding 2018: Pubs minister urges revellers to celebrate Royal Wedding at their local April 14, 2018 It has not been the best start to the year for the UK’s pubs. Snow had a severe impact on business during February and March, while tax hikes which came into effect this month are set to add to the pressure forcing 18 pubs to close every week. But Jake Berry, the minister responsible for [...]
Wetherspoon shares swing wildly as profit plunges March 22, 2019 Five times the shares failed to make a break above 1,340p stick. Is it sixth time lucky for Wetherspoon? Alongside the usual diatribe against the Brexit process and the tax disparity with supermarkets, pub chain JD Wetherspoon (LSE:JDW) has fallen foul of higher costs, especially with regards to labour. This has impacted the bottom line [...]
Online tax could help a high street facing ‘bleak’ prospects, MPs say February 20, 2019 The government must seriously consider an online sales tax and change unfair business rates as the high street faces an “increasingly bleak” future, MPs have urged. The rates stack odds against retailers on a high street which needs reform after a string of prominent failures, the Housing, Communities and Local Government Select Committee found. Read more: [...]
The rise of the vegans: Where to get your plant-based meat this January January 14, 2020 Whether you’re flexitarian, vegetarian, vegan or something in between, you’ll want to sample these meatless marvels. Now available everywhere. Greggs Vegan Steak Bake The rampant veganisation of Greggs continues apace with the lauch of a plant-based alternative to its most popular menu item. The vegan steak bake employs Quorn chunks in a rich onion gravy, [...]
Wetherspoons maintains full-year guidance despite slowing profits due to labour costs January 23, 2019 JD Wetherspoon said its first-half profits will be lower than expected as rising costs took the fizz out of strong sales growth. The pub chain reported a 7.2 per cent rise in like-for-like sales for the 12 weeks to 20 January, with total sales up 8.3 per cent. Read more: Wetherspoons boss Tim Martin defends column [...]
Wetherspoons profits take a hit as wage increases kick in March 15, 2019 Wetherspoons has posted a sharp drop in pre-tax profits in its half-year report as increased labour costs took their toll. Read more: Wetherspoons profits slow amid surge in labour costs The figures Revenues increased 7.1 per cent to £889.6m for the 26 weeks to 27 January. Like-for-like sales were up 6.3 per cent over the [...]
Taking a stand is easy when it doesn’t cost you anything October 11, 2019 DOWNING Street is busy trying to get FTSE chiefs to sign a letter in support of the government’s Brexit position, whatever it may be. Enthusiasm is apparently in short supply, and who can blame business leaders for steering clear of this polarising topic? In this day and age, publicly backing Boris Johnson will trigger a [...]
Hong Kong bourse proposes £32bn merger with London Stock Exchange September 11, 2019 Hong Kong Exchanges and Clearing (HKEX) has made a surprise proposal to buy the London Stock Exchange (LSE) in a £30bn tie-up, it said this morning. Read more: London Stock Exchange seals $27bn Refinitiv deal Yet it said the deal is subject to LSE’s mammoth $27bn (£22bn) merger with financial data provider Refinitiv falling through. [...]