Retail and hospitality face growing army of whistleblowers reporting national minimum wage breaches March 14, 2022 The number of whistleblower reports relating to alleged National Minimum Wage breaches in the retail sector saw a 37 per cent jump in the past year, according to new data shared with City A.M. this morning. Figures show that 235 complaints were made in 2020 to 2021, up from 171 in the previous year, 2019 [...]
Fridays owner Hostmore revenue soars in maiden results as CEO warns of ‘challenges raised by Ukraine crisis’ March 14, 2022 Fridays owner Hostmore has reported revenue standing at £159m as the hospitality operator strikes out on its own after a demerger. Hostmore made its debut on the London Stock Exchange last November after it was made a separate entity from Electra Private Equity. Now, in results for the 53 weeks ended 2 January 2022, the [...]
New business growth in London at eight year high amid concern about inflation and input costs March 14, 2022 New business activity in the capital has reached an eight-year high, but optimism remains cautious with rising inflation and pressures on input costs. There has been a resurgence in trade across the London, with growth rising from 57.3 per cent in January to a three month high of 63 per cent, in February. Growth reported [...]
Gin and whiskey maker snags planning permission for carbon neutral distillery March 14, 2022 Gin and scotch whiskey maker Eden Mill St Andrews has snagged planning permission for a new site – which it says will be the world’s first carbon neutral distillery. The distillery, which will also have a visitor centre, will be in the heart of St Andrews in Scotland and already has a 50-year land lease. [...]
Last orders: Restaurant insolvencies spike as economic pressure bites March 13, 2022 Restaurant insolvencies jumped 20 per cent, according to the latest data published from accountancy group UHY Hacker Young It revealed that insolvencies rose to 354 in the last quarter of 2021, – up from 296 in the previous three-month window. UHY Hacker Young argues that despite the end of coronavirus restrictions, the sector will continue [...]
NHS clinicians call for levy on gambling industry to help fund addiction services March 13, 2022 Top NHS clinicians are calling for a new levy on the gambling industry, which would help fund prevention and treatment programmes for addiction. Professor Henrietta Bowden-Jones, the director of the National Problem Gambling Clinic and the clinical lead for the NHS Northern Gambling Service Dr Matt Gaskell have led the calls for a new independent [...]
Kirin to pump £660m into pharma pivot as beer profits ‘won’t grow forever’ March 13, 2022 Japanese brewing giant Kirin is looking to further pivot into healthcare and pharmaceutical space over the next three years, with a ¥100bn (£667m) investment. The Covid-19 pandemic has launched the potential for pharma profits onto many businesses and investors’ radars over the past two years – and has reportedly accelerated many in Asia to drink [...]
£24bn Brexit rebound: UK goods imports from EU overtake non-EU trade while Russian influx soars March 12, 2022 Goods imports from the EU rebounded fat the start of 2022, despite uncertainty over changes in HMRC methodology, to overtake Non-EU countries, after non-EU imports of goods to the UK surpassed those from the EU for the first time in 2021 since the ONS started recording the data in 1997. Over £24bn worth of goods [...]
‘Bonuses are back, and not just for bankers’, says CEO of recruitment giant Randstad March 11, 2022 Bonuses are back. That is the firm message of the boss of one of the largest recruiters in the country. Victoria Short, CEO of recruiter Randstad UK, told City A.M. this morning that “bonuses are back – and not just for bankers. “ Her comments follow the announcement that staff at the John Lewis Partnership will share [...]
House completions for properties outside London up by staggering 667 per cent March 11, 2022 There has been a significant spike in house completions for properties outside of London and Manchester with some areas having up to a 667 per cent rise. Apart from England’s two main population centres, the top 10 growth areas were in outlying towns, new figures from Paragon Bank shows. Milton Keynes led the way, experiencing [...]