London Chamber of Commerce and Industry calls on government to heed the ‘unintended consequences’ of business rates shake-up September 26, 2016 The London Chamber of Commerce and Industry (LCCI) has called for the government be wary of the 'unintended consequences' of changes to business rates and to mitigate against them by encouraging local investment. LCCI said local government should be allowed to retain all the money it makes from business rates as part of a "greater devolution [...]
Aldi grows sales to record high but operating profit takes a hit as discount supermarket unveils plans for store upgrades September 26, 2016 Discount supermarket Aldi has announced plans for a £300m overhaul of its UK stores as it reported record sales for the year to 31 December 2015. The figures Sales in the UK and Ireland rose to £7.7bn from £6.9bn, a year-on-year increase of 12 per cent, and twice what the company reported three years ago. Operating [...]
Ristorante Frescobaldi’s Florentine wine success set to go global September 26, 2016 There are many foodies who would argue London has the most competitive restaurant scene in the world. The number of food-led sites in the capital has increased by almost a fifth over the last five years alone, according to figures from Market Growth Monitor, leaving new restaurants and pop-up organisers vying for competition more than [...]
SABMiller and AB InBev wait with bated breath for £79bn megabrew deal ahead of SAB shareholder vote on Wednesday September 25, 2016 SABMiller investors will cast their votes this week on a deal which, if passed, will be the UK’s largest ever corporate merger. The deadline for proxy votes on Anheuser-Busch InBev’s (AB InBev) £79bn takeover bid will close tomorrow morning, while shareholders will also be able to vote in-person at the company’s High Court meeting on Wednesday. The [...]
The Brexit vote boosted fine wine sales so much the market is running out, according to BI Fine Wine and Spirits Merchant September 25, 2016 The Brexit vote has breathed so much life into the UK’s fine wine scene that it is beginning to drain the market of available stock, according to wine merchants BI. Sales at BI have risen by 26 per cent since the June referendum when compared with the same period of 2015, after the dip in [...]
Business groups write to communities secretary Sajid Javid to campaign against changes to business rates September 25, 2016 Groups representing retailers and small businesses have come together to write to communities secretary Sajid Javid to urge him to pull back on changes to business rates. Business rates are being re-evaluated, and changes proposed for the way business rates are valued could "sink individual businesses into hardship", the lobby groups warned. Read more: West End gets [...]
Sports Direct’s property aide jumps ship months after Mike Ashley appoints his daughter’s boyfriend to run property portfolio September 25, 2016 Sports Direct's top property lawyer has jumped ship after Mike Ashley hired his daughter's boyfriend to run the retailer's property portfolio. Allawee Albaghdadi had been at Sports Direct nearly five years, but, according to his LinkedIn profile, left the embattled company in July for commercial law firm EMW. Read more: Sports Direct chairman: I have dealt with killers, I [...]
Economists are expecting more positive data on consumer confidence this week as shoppers shrug off the Brexit vote September 25, 2016 Consumers' worries about the economic impact of the Brexit vote are fading, as economists are expecting positive data on sentiment to be released this week. Confidence in the UK economy slumped immediately after the EU referendum, but now economists are expecting an uptick. Read more: West End gets Brexit boost as sales to tip over [...]
BHS is back September 25, 2016 The British high street stalwart BHS is back, as new investors emerge with a refreshed online incarnation of the retailer which spectacularly slid into administration earlier this year. BHS will return with a new website, BHS.com, after Qatari business group Al Mana Group snapped up BHS' 70 overseas stores and the website in June. Read more: Insolvency Service quizzed Chappell consultants over £1 BHS purchase It's now [...]
Way to kill that #FridayFeeling: The internet combusts as Nestle axes one of the Quality Street sweets September 23, 2016 One of the Quality Streets has gone forever, and people are outraged. The Toffee Deluxe has been axed from the iconic chocolate box after customers complained there were too many toffees in the mix. The company will be introducing a "Honeycomb Crunch" in its place – the first time a new chocolate has been added [...]