Travelodge enjoying recovery as Brits go budget for beds May 9, 2022 Travelodge has reported a strong recovery from the impact of the pandemic and expects to benefit from the growing number of ‘staycation’ breaks. The hotel chain reported a 1.8% increase in revenue in the last quarter of 2021 compared with 2019, to £185 million. Revenue for the year was down by 23% compared with 2019, [...]
Letters: Investment for the many, not the few May 6, 2022 [Re: Bringing retail investors into the fold creates equality of opportunity from our wealth, May 3] It was both refreshing and encouraging to read Roger Clarke’s call for more effective integration of retail investors into the IPO book-building process (and the financial ecosystem more generally). He compellingly argued the moral case for better inclusion of [...]
New political leader for Square Mile as Hayward takes vital Corporation role May 5, 2022 THE City has a new de facto political leader after Square Mile grandee Christopher Hayward was elected to the top job on the Corporation’s powerful policy committee this afternoon. Hayward replaces Catherine McGuinness, who held the role for five years. He steps into the role after serving for almost a decade as an elected member.Hayward [...]
Letters: New Starmer, New Labour May 5, 2022 [Re: Keir Starmer could not have a stronger position – but he’s still squandering it, May 4] Maybe Keir Starmer’s problem isn’t that he’s not using the fruits of Boris Johnson’s failure, but that he is playing the New Labour tune at all. Tony Blair is one of the few Labour Prime Ministers to make [...]
Letters: Don’t dye me a dirty river May 4, 2022 [Re: Fast fashion slammed over cargo plane usage, May 3] The clamour over emissions from fast fashion brands using aircraft to ship stock into the UK is valid. However, an even bigger problem for the fashion industry, which needs urgent attention, is the punishing environmental impact of textile dyeing processes. According to the Carbon Literacy [...]
Green energy boom could be windfall for London insurers May 3, 2022 THE MASSIVE boom in energy projects required by a global shift twoards ‘net zero’ could double the London insurance market, according to a brokers’ body. The estimate of the amount of investment required in green energy to hit the zero emissions target by 2050 is around $5trn. Research by the London and International Insurance Brokers’ [...]
Business secretary: Windfall tax not the answer May 1, 2022 Business Secretary Kwasi Kwarteng has voiced firm opposition to a windfall tax on oil and gas companies despite Chancellor Rishi Sunak raising the possibility. The Cabinet minister was adamant that it would be a “disincentive” to investment by energy giants despite his colleague in the Treasury using the threat to encourage spending, as their profits [...]
CBI: Firms need help to make it through summer May 1, 2022 Firms might need further support before the autumn Budget to help tackle rising costs, according to a business group. The CBI highlighted the near-term challenges that companies are facing, especially energy intensive firms. A survey by the group found that growth in private sector activity including consumer services and distribution sales remained “steady” in the [...]
Windfall tax the backdrop for energy giants’ results May 1, 2022 London’s biggest oil companies will face an odd dilemma this week as they present what is likely to be their best set of results for years while facing calls to cough up more in tax. The businesses are predicted to report a combined 13 billion dollars (£10.5 billion) in profit from the first three months [...]
Issa brothers in talks to sell petrol station empire May 1, 2022 The owners of Asda are in talks to offload their petrol forecourt business, according to a report in the Sunday Telegraph. The Blackburn-based Issa brothers have been in discussions with a Canadian shopping giant, Couche-Tard. The forecourt business has been remarkably successful for the Issa brothers and their firm, EG Group. It is said to [...]