Craft drinks have put a cork in the UK’s pub insolvency problem December 12, 2016 Investment in craft beer, high-quality food and trendy refurbishments is helping save the UK's pubs from insolvency. The number of pubs and bars unable to pay their debts has dropped seven per cent, decreasing from 521 to 480 in just one year, Ortus Secured Finance will today report. Over the last three years, the rate of pub and bar companies [...]
Lingerie brand Agent Provocateur gets a refit amid accounting issues December 11, 2016 Chris Woodhouse has stepped down as chairman of Agent Provocateur amid the lingerie brand’s ongoing inquiry into “accounting issues”. The upmarket label, which has counted supermodel Kate Moss among its roster, has handed the reins to Ian Lobley, a partner at Agent Provocateur’s controlling shareholder 3i Group, it was first reported last night by Sky [...]
Specsaver founder Dame Mary Perkins and her husband have their payout cut in half December 11, 2016 Despite Specsavers’ solid earnings last year, Dame Mary Perkins and her husband had their payout cut in half. Perkins started the optical chain in 1984 and became Britain's first billionaire businesswoman. It was revealed she and her husband Doug had their dividend cut to £17.4m last year compared to £36.8m the year before in recently filed [...]
Imperial Brands must invest in new, safer heating products to compete with tobacco giants December 11, 2016 Imperial Tobacco's failure to invest in safe new products could hit future profits, City analysts have said. The tobacco giant's reluctance to develop reduced risk materials could impact on long term growth after rival firms have poured billions into developing safer cigarette technology. British American Tobacco (BAT), Philip Morris International (PMI) and Japan Tobacco International (JTI) all [...]
Happiest place on earth no more: Shareholders in Euro Disney battle with Walt Disney over licensing fees December 11, 2016 Walt Disney has charged Euro Disney nearly €1bn in licensing fees over the past decade, and minority shareholders have had enough, saying the American entertainment giant is preventing the owner of Disneyland Paris from making a profit. Reports show Charity Investment Asset Management (CIAM), a French hedge fund, said Walt Disney scooped €930m (£780m) in royalties allowing Euro Disney [...]
No, vinyl isn’t bigger than digital downloads – but it could easily outlive them December 9, 2016 Earlier this week, a story did the rounds which prompted some debate in the UK music world. This is the news from Entertainment Retailers Association (ERA), which suggested digital music had been beaten in sales by that stubborn old minx, vinyl, for the first time since its inception. A rare positive tale of a physical [...]
How does craft gin compete against big brands? “Create weird and wacky stuff,” says distiller December 9, 2016 Yesterday, gin stole the show as 2016's most profitable spirit as the sector passed a £1bn sales mark for the first time ever, six months ahead of schedule. Today, craft distiller Tom Warner, co-founder of Warner Edwards, gave City A.M. the low-down on the artisan industry. Warner Edwards was founded just over four years ago by [...]
Coca-Cola chief executive Muhtar Kent said he’s stepping down in May December 9, 2016 Coca-Cola chief executive Muhtar Kent said he will step down in May and be replaced by chief operating officer James Quincey. Kent, 64, has worked as chief executive of the beverage company since 2008 and will continue as chairman. He said it was "the most wonderful and unique privilege" to work for the company, and will officially step down 1 [...]
Mapped: Experts analysed 120 years of housing data to show how 14 of London’s boroughs have changed December 9, 2016 Each of London's 32 boroughs has its own unique history, and now you can see how housing changed for 14 of them over the past century. Property consultancy Knight Frank today launched an interactive report that uses 120 years of London housing to study how the areas have changed over time. The case studies detail the history of each [...]
Fyffes’ shares rocket after bananas deal from Sumitomo December 9, 2016 A lot people seem to think 2016 was the year when the world went bananas. And today, investors in them will be going bananas too. Sumitomo, one of Japan's largest conglomerates, revealed it was splashing out €751m (£631m) to buy Irish banana giant Fyffes. Read more: How bananas could one day cure the flu Offering shareholders €2.23 [...]