Mastercard and Visa see UK legal claims from high street names mount over interchange fees June 25, 2017 MASTERCARD and Visa are facing legal claims that could top £1bn as a raft of high street names pool their resources in a battle with the credit card giants over fees. At the start of this month, litigation claims were launched by 27 high-street retailers, supermarkets, pubs and bookmakers over “multilateral interchange fees”, or charges [...]
Heineken closes in on Punch Taverns as its investment vehicle buys 28 per cent stake February 6, 2017 Heineken has moved a step closer to completing its acquisition of Punch Taverns after its investment vehicle bought a significant stake in the British pub chain group. The Dutch brewer announced today that Vine Acquisitions, the vehicle it shares with partner Patron Capital, built up its share in the company to 28.5 per cent on Friday [...]
Raise a glass: Britain’s beer exports rose in 2016, making it the third most valuable food or drink export March 4, 2017 British beer exports rose six per cent in 2016 according to new figures published by the HMRC, making beer the UK's third most valuable food and drink export. Chinese interest in British beer skyrocketed last year, rising 500 per cent following pictures of Chinese President Xi Jinping enjoying a pint with former Prime Minister David Cameron in [...]
Budget 2017: Business reacts to government’s relief measures for business rates March 8, 2017 Today, chancellor Philip Hammond announced a handful of measures intended to cushion the blow of business rate rises this year, including a £300m relief fund that will be distributed to local authorities. In addition, Hammond said small pubs will get a £1,000 reduction on their business rates bill this year, a handout that will help [...]
Budget 2017: New £300m fund for business rates relief March 8, 2017 The government has promised to help cushion the blow of business rates with a £300m relief fund for local authorities. Chancellor Philip Hammond has also committed to "smoother and more frequent" business rates revaluations. In addition, small pubs will be getting a £1,000 business rate discount this year – a tax cut that will help 90 per [...]
This is what Londoners want within walking distance of their homes February 9, 2017 When it comes to buying a home, Londoners are the most demanding customers in the country. In the UK as a whole a staggering 25 per cent of people say they "wouldn't need anything in particular" near their homes, according to a survey by YouGov. Read more: This is how far house prices have plunged in [...]
Restaurants stand to gain £70m as more Brits than ever ditch Christmas turkey December 24, 2016 More Brits will ditch the kitchen and eat out this Christmas than ever before, new research suggests. Pubs, restaurants and bars across the country are set to gain upwards of £70m on Christmas day spending, research from Worldpay found. Pubs, which alone stand to make £7m on the 25th, will be 30 per cent busier than average across [...]
Leon and Wagamama lead the way as casual dining and pub grub drive new restaurant and bar openings May 31, 2016 Just when you thought you'd had enough, casual dining and food-led pubs are helping to drive new openings in the UK's bar and restaurant market. Entrepreneurial food-driven businesses like Leon and Wagamama, and the conversion of drink-led ventures into gastropubs by pub groups are helping to offset the decline in marginal sites. The latest quarterly growth figures from [...]
Cutting the beer duty in the March budget will inspire investment and protect jobs during uncertain times January 11, 2017 The British Beer and Pub Association (BBPA) has called on the government to cut the beer duty to encourage investment, protect jobs and improve confidence in the sector. Beer duty was frozen in the last Autumn Statement, but the BBPA said the industry is struggling: the UK's beer duty is higher than those in other European countries. Now, the BBPA has released [...]
British brewer Greene King posts 58 per cent jump in revenue in first yearly results since completing Spirit Pubs acquisition June 29, 2016 British pub company Greene King has posted a strong set of preliminary numbers for the 52 weeks to 1 May – but has warned that it expects consumer confidence will be hit by the UK's vote to leave the European Union. The figures Revenue was up 57.6 per cent to £2.1bn in the year to 1 [...]