Punch Taverns shelves £2.3bn debt rescue plan February 12, 2014 PUNCH Taverns will shelve its controversial plans to restructure its £2.3bn debt mountain in the face of opposition from bondholders with blocking stakes in the pub chain. Last week Punch warned that rejection of its plan to reduce its debt to £1.8bn would: “have a material negative impact on the business”. Yesterday the firm said [...]
What you need to know before the open April 15, 2014 European markets are expected flat to mixed this morning, following yesterday’s turnaround on the back of a strong retail sales reading from the US, which quelled fears over the situation in Ukraine. The concern is, though, that investors have over-valued the retail sector. And meanwhile, there are worries that the EU’s somewhat muddled response to [...]
Alfresco v Aldesco March 25, 2014 With the sun out, it’s time to eat alfresco, says Alex Dymoke – but for those poor souls stuck to your desks, we have some special take away options as well… THE CITY (NORTH)The Water Poet9-11 Folgate Street, E1 6BX The Water Poet pub is located at the very northern tip of the Square Mile. [...]
I’m off skiing. That’s nice. Where? Valmorel. Never heard of it. Me neither… March 16, 2014 If you’re looking for an alpine adventure before the snow melts, check out the slopes at this underrated resort: perfect for Francophiles THE above conversation happened every time I told someone I was going to Valmorel. Virtually no one from Britain goes skiing there. Before my trip I could barely find a mention of it [...]
Food, coupons and ale drive Greene King’s profit higher December 3, 2013 GREENE King reported revenue growth of more than five per cent yesterday on the back of strong retail pub sales during the first half of the year. The company said that food sales and its use of promotions at its retail pubs had led to profits reaching £85.6m, up 5.7 per cent during the six [...]
Harry’s team asks you to walk home for Xmas December 8, 2013 ADVERSE weather conditions may have slowed Prince Harry’s trek to the South Pole but a UK-based event in support of Walking With The Wounded, backed by City A.M., is still rolling full steam ahead. Glenfiddich, Prince Harry’s team, has been banging the drum for Walking Home for Christmas from all the way down in Antarctica. [...]
Meet elBulli’s Ferran Adrià: We interview the world’s greatest chef July 29, 2014 Once upon a time, the language of culinary pretension was French. If a chef wanted to bump up the prices on his menu, all he had to do was add a dash of “jus”, a splash of “vin”, perhaps a little “petit”. French words forged a connection between whatever slop the chef was serving up [...]
JD Wetherspoon sales rise as it attacks government over VAT November 6, 2013 VAT disparity between supermarkets and pubs is the biggest danger to the pub industry, according to JD Wetherspoon. (Release) The pub chain said in its interim management statement: Since supermarkets pay almost no VAT in respect of food sales, whereas pubs pay 20 per cent, supermarkets are able to subsidise their drinks' prices to the [...]
Punch Taverns stock lifted by hopes of debt breakthrough December 9, 2013 PUB operator Punch Taverns rose nearly 10 per cent in trading yesterday after it said a complex plan to reduce its huge debt pile was on track – but agreement still needed to be reached with key bondholders. The company, which owns about 4,000 pubs across the country, said a new deal on one chunk [...]
Budget 2015: Here are George Osborne’s best quotes plus his Budget speech in full March 18, 2015 George Osborne's final Budget during this parliament had few surprises but plenty of great quips, including – to the dismay of bookies everywhere – a quip about Ed Miliband's now-infamous second kitchen. Here's a selection of our favourites from today's big speech. (Source: Getty/City A.M.) (Source: Getty/City A.M) (Source: Getty/City A.M.) [...]