Domino’s takeaway: Pizza chain announces £20m share buyback as UK sales soar May 4, 2023 UK consumers shrugged off inflation and a cost of living crisis to order more pizza, according to UK and Irish-based chain Domino’s. The fast food chain said sales increased to £386.6m across its branches, up 5.6 per cent compared to the same period last year. Quarterly orders at Domino’s Pizza group grew 2.8 per cent [...]
Bank of England lifts interest rates to fresh 15 year high in smaller than feared 14th straight hike August 3, 2023 The Bank of England today hiked the UK’s official interest rate for the 14th time in a row but by a lower degree than some had feared. Members of the nine-strong monetary policy committee (MPC) voted 6-3 in favour of a 25 basis point rise, smaller than the 50 basis point lift some in the [...]
2023 set to be just as ‘horrendous’ as 2022 with falling pay and soaring energy bills December 30, 2022 Next year looks set to be just as “horrendous” for many families’ living standards as this year, as they are hit with falling pay and soaring energy, tax and mortgage bills, a think tank has warned. Households face a cost-of-living “groundhog year” with disposable incomes plummeting even further than in 2022, which saw the biggest [...]
Dragons’ Den star Levi Roots on Brixton being the ‘sauce’ of entrepreneurial spirit December 7, 2022 In Brixton, the “heartbeat of the community” is its market, Dragons’ Den star and the businessman behind Reggae Reggae sauce, Levi Roots, tells CityA.M. The south London district has been Roots’ home ever since he moved to the UK as a young child from Jamaica, so it’s no surprise it is close to his heart. [...]
Calls made to reinstate minister for pubs as sector faces closure fears September 29, 2023 Fresh calls have been made for the reinstatement of minister for pubs role in the UK, amid a challenging period for the sector as it continues to face inflationary headwinds and rising closures. It comes as part of a new report by think tank Localise – commissioned by the British Beer and Hospitality Association (BPPA) [...]
Stock and bond prices fall for first time since 2008 financial crisis but only to $255 TRILLION June 27, 2023 The value of stocks, bonds and other financial assets across the world have fallen for the first time since the 2008 financial crisis as central banks globally have jacked up interest rates aggressively to tame stubbornly high inflation. Global financial wealth slimmed four per cent last year to $255 trillion, the first drop in 15 [...]
Channel 4 bosses decline pay rise as staff battle cost of living crisis and revenues dip July 12, 2023 Channel 4 boss Alex Mahon said the broadcaster’s top executives declined a pay rise and deferred their bonuses to stay “in line” with staff who are battling the cost-of-living crisis amid a “tough downturn” in the advertising market for the channel. The broadcaster’s annual report published on Wednesday said it had to “significantly” tighten the [...]
UK nightlife and hospitality ‘teetering on brink’ of collapse as government intervention urged January 17, 2024 The UK’s hospitality and nightlife sector is “teetering on the brink” of collapse, industry voices have warned, after a number of high profile closures have piled pressure on the government to provide more support. Less than a month into the new year, it has been reported that up to 43 hospitality venues across Britain face [...]
UK economy in ‘early stages of recovery’ as families shrug off inflation and interest rate hikes April 21, 2023 Britain’s economy could be in the early stages of a recovery, with consumers holding up pretty well under the pressure of high inflation and interest rate increases, a closely watched survey out today indicates. Families’ outlook on how well the economy will perform over the coming year is improving, while confidence in their own personal [...]
Food inflation soars to record 15 per cent as sugar price hike leaves retailers warning of more misery to come March 28, 2023 Shop price inflation is yet to reach its “peak” as the rising cost of sugar and high manufacturing costs present a double whammy ahead of crucial Easter trade, a leading retail body has warned. The British Retail Consortium (BRC) shop price index showed annual inflation accelerated to 8.9 per cent in March, up from 8.4 [...]