Pub industry says end of beer tie system could lead to closures and job losses November 19, 2014 Britain’s pub groups woke up with a hangover yesterday after MPs voted in favour of a shake up of Britain’s nearly 400-year-old beer-tie system, warning that a change to rules could lead to further pub closures across the country. Companies. including Enterprise Inns and Punch Taverns – two of the UK’s largest tenanted [...]
Q&A: What are beer ties and why are they in a frayed knot? November 19, 2014 Q What are tied-pubs and how does the arrangement work? A These are pubs that buy beer from the firm that holds their lease at above market prices in return for benefits like lower rent. Q Why have tied-agreements proved so controversial? A Opponents of tie-agreements argue they stifle competition and [...]
Beer tie end is a landmark victory for beer drinkers, pubgoers and licensees, says Campaign for Real Ale boss November 19, 2014 CAMRA is delighted that, after 10 years of our campaigning, MPs have today voted to introduce a market rent only option for licensees tied to the large pub companies – a move that will secure the future of the Great British Pub. The government was defeated by 284 votes to 259 with MPs from all [...]
Brakes put on UK car production November 19, 2014 BRITISH car production went into reverse gear last month as growing uncertainty about economic prospects abroad hit demand. The number of vehicles rolling out of UK car factories fell by 6.7 per cent to 150,060 in October compared with the same month last year. The decline also pulled output in the year to date below last [...]
Summit backs business case for diversity November 19, 2014 BRITISH businesses would perform better if they employed a more ethnically diverse workforce, attendees at an Institute of Directors (IoD) business and ethnicity summit heard yesterday. Vivían Hunt, UK managing partner at McKinsey, told the audience at the event that having ethnic diversity “is just as important as gender diversity”, and stated that it was [...]
Construction adds to euro woes November 19, 2014 THE EUROZONE’s construction sector suffered a decline in activity in September. Seasonally adjusted output in the construction sector fell by 1.8 per cent month-on-month in September, according to figures released yesterday by Eurostat, the statistical office of the EU. Activity also dipped year-on-year, registering a 1.7 per cent decline. The worst affected nations were Slovenia, Italy, [...]
Royal Mail frets over Amazon taking business November 19, 2014 FIRST it was publishers, then high street retailers, now US giant Amazon is set to disrupt the business model for Britain’s postal service. Industry leader Royal Mail yesterday warned that the growing dominance of rival delivery offerings from Amazon would cut revenue growth in half at its key parcel delivery division. Royal Mail, which was [...]
Analyst Views: What did you think about Royal Mail’s results? November 19, 2014 RISHIKA SAVJANI | BARCLAYS Competitive pressures in parcels and the potential impact from Whistl’s expansion into direct delivery remains, but strong cost discipline has supported, and is likely to continue supporting, margin expansion. While there are no changes to guidance, the company has reaffirmed its commitment to cost discipline. ROBIN SPEAKMAN | SHORE CAPITAL UK [...]
BGC Partners slapped on wrist over GFI Group share buy rule breach November 19, 2014 Brokerage BGC Partners yesterday promised to make sure it told regulators in future when it bought shares in rivals. It had bought a 10 per cent stake in GFI Group without first telling the Financial Conduct Authority (FCA), or getting its permission. But despite that breach of the rules, BGC will be allowed to carry on [...]
Amlin share price dips but declining insurance rates fail to stop growing premiums November 19, 2014 Shares in insurance firm Amlin dipped by more than three per cent yesterday, as the company reported rate reductions across a range of its products during the first nine months of 2014. Average renewal rates were down by 2.5 per cent, although UK fleet motor rates were up by 5.7 per cent, while other UK [...]