Travelodge eyes expansion with 100 new hotels as turnaround delivers higher sales March 18, 2019 One of the UK’s largest budget hotel groups hailed its own turnaround plan this morning after posting a rise in revenues and plans for 100 new site openings seven years after being on the brink of collapse. Travelodge, which has lured more customers into its value hotels amid an economic slowdown, posted sales of £693m [...]
Domino’s Pizza hits back at reports it misled the City over franchisee row March 18, 2019 Domino’s Pizza published a statement today hitting back at allegations that it had misled the City over the state of its relationship with its franchisees. Domino’s said it “strongly refutes the reported allegations” and said it “has been clear and transparent that it has been in commercial discussions with franchisees, which are continuing.” The Sunday [...]
Raghuram Rajan: The central banker trying to save globalisation from itself March 18, 2019 Political and economic debate generally divides around two pillars: markets and state. Free-marketeers see a world where, when people are free to buy and sell according to the laws of supply and demand, business competition naturally drives quality up and prices down, resulting in prosperity and productivity for all. At the other end of the [...]
Want to break the Brexit deadlock? Change the negotiating terms March 18, 2019 Who knows, Theresa May’s deal may yet get through parliament at the third attempt. It seems unlikely given the scale of previous defeats. But making predictions about what will happen next in the Brexit saga is a mug’s game. If the deal fails again, the UK will request a long extension to the Article 50 [...]
The answer to the UK’s renewable energy future is blowing in the wind March 18, 2019 The UK’s offshore wind sector is booming. Auctions for new capacity held in 2017 resulted in deals at half the price of those signed just two years prior, while we are seeing a steady drumbeat of new records relating to clean power production. Just last month, the world’s largest offshore wind farm began generating power. Anchored [...]
Sorrell’s S4 Capital posts revenue rise as mergers help to reel in new clients March 18, 2019 Sir Martin Sorrell’s new advertising venture S4 Capital has posted a large rise in revenue for the year after a string of acquisitions helped it land big-name clients. Read more: S4 Capital ready to compete 'at the highest levels' after Mightyhive merger The figures Revenue jumped 58 per cent year-on-year to £54.8m. Billings hit £59.1m. [...]
DEBATE: Could France overtake Britain for tech investment? March 18, 2019 Could France overtake Britain for tech investment? Kat Borlongan, director of the French Tech Mission, says YES. There are number of misconceptions around doing business in France. A language barrier and extensive bureaucracy have perhaps deterred investors from funding some of the best tech startups, specialising in everything from artificial intelligence to smart cities. But these [...]
Stop overlooking small businesses – they can be a massive force for good March 18, 2019 Small and medium-size enterprises (SMEs) make up 99 per cent of companies, and employ 60 per cent of private sector workers in the UK. And yet, they are often overlooked when we talk about responsible business. When SMEs take action on responsible business, they make a huge difference to London’s communities, to our environment, to [...]
US-based FIS buys Worldpay at $43bn valuation, creating payments giant March 18, 2019 British payment processor Worldpay was snapped up this morning by US-based Fidelity National Information Services (FIS) in a deal which values the firm at $43bn (£32bn). Excluding the target’s debt, the valuation comes to $34.83bn, the companies said. Read more: BT names payment services veteran as its new CEO It creates a company which had [...]
JD Sports buys Footasylum in £90m deal weeks after saying it would not bid for the firm March 18, 2019 JD Sports will buy footwear retailer Footasylum for £90m, the companies announced this morning a month after JD increased its stake to 19 per cent. The 82.5p per share offer values Footasylum at a considerable mark-up to its 46.5p closing price on Friday. Shreas soared 75 per cent to 81.5p this morning. Read more: Footasylum shares [...]