Christmas spending splurge fails to push high street sales into positive territory January 6, 2017 High street shops ended a disappointing year with a dismal performance during the festive season, failing to land positive sales despite bumper spending in the week before Christmas. Christmas fell on a Sunday this year, meaning shoppers had an extra day to spend, but like-for-like sales growth on the high street still came in at [...]
Silverstone owners threaten to drop British Grand Prix January 5, 2017 Silverstone's management is threatening to drop the British Grand Prix because of spiralling costs of running it. John Grant, chairman of the British Racing Drivers' Club (BRDC), owners of the racing track, has written to members warning of the "potentially ruinous risk" of hosting the loss-making event. In a letter, seen by ITV, Grant said he wanted to "preserve [...]
Insolvencies are on the rise for the travel industry as the weak pound and terrorism fears hit businesses January 5, 2017 The travel industry is braced for thousands of insolvencies as the sector comes under increasing pressure from terrorism fears and rising costs. According to data from insolvency firm Begbies Traynor, 2,679 businesses in the travel industry currently have "red flags" over them which indicates that they are experiencing significant levels of distress. This is a [...]
Calls for better governance at Sports Direct heighten, after Mike Ashley defies the will of the company’s other shareholders January 5, 2017 Sports Direct has today sparked more ire over the state of its corporate governance, including calls for a rethink on how listed firms are overseen The comments come after a second vote in less than half a year on whether to keep Keith Hellawell as chairman was waved through at the company's general meeting, as chief [...]
Central London bulked up on budget gyms last year with 46 per cent of new openings in the low-cost sector January 5, 2017 Londoners may want to get healthy (especially after the Christmas and New Year excess fest), but they also don't want to break the bank while they do it. Almost half (46 per cent) of the new gyms that opened in Central London last year were budget gyms, classed as having membership plans costing less than [...]
ITV chief exec Adam Crozier appointed as non-exec of Costa and Premier Inn owner January 5, 2017 The owner of Costa coffee has swooped during the January transfer window to sign the former head of the Football Association as a non-executive director. Current ITV chief exec Adam Crozier will join the board of Whitbread from 1 April and will be part of the remuneration committee of the group that also owns Premier Inn hotels. [...]
British American Tobacco drops its nicotine inhaler Voke to prioritise vapour and tobacco heating products January 5, 2017 British American Tobacco (BAT) today announced it would drop its medical nicotine inhaler Voke to focus more directly on products like e-cigarettes aimed at consumers. BAT said it will give up its manufacturing, intellectual property and know-how assets to Kind Consumer, from which it licensed the product, in return for deferred, contingent payments. No financial details were disclosed. Read [...]
Stevia producer PureCircle shares plummet due to expected sales decline January 5, 2017 PureCircle's shares plummeted more than 18 per cent in early trading after it announced sales of its low-calorie sweetener stevia would drop 14 per cent in first-half group sales. The sweetener maker said the expected drop in sales in the first half of the financial year was directly caused by shipments that were detained by the US Customs [...]
Independent shareholders vote to boot Sports Direct chairman, but Mike Ashley saves his right-hand man January 5, 2017 The independent shareholders of Sports Direct have voted to boot the retailer's chairman Keith Hellawell, but the company's boss Mike Ashley has saved his right-hand man. Fifty-four per cent of independent shareholders voted to get rid of Hellawell, who has presided over several profit warnings at the company. Read more: Shareholder advice group calls for [...]
Here are five of the best alcohol-free and low alcohol beers to drink during Dry January January 5, 2017 Although you might have imagined yourself spending Dry January at the gym, cooking up healthy meals in your kitchen or proudly mastering the art of the homemade mocktail, chances are you'll find yourself in a pub at some point. Before you give in and order your standard pint, try one of the many surprisingly flavourful low or zero or [...]