Restaurant groups suffer £673m in losses as bosses call for tax relief January 10, 2022 The country’s top restaurant groups saw losses skyrocket in a year, hitting £673m, as bosses have called for more cash to help ailing venues. The top 100 groups saw losses increase 174 per cent in the year to the end of September 2021, according to an analysis of company accounts by accountancy firm UHY Hacker [...]
London sellers take home over £30bn in gross profit while seller gains decline January 10, 2022 London home sellers made a total gross profit of £30.96bn last year. However, weaker price growth meant that last year marked the first time since 2015 that London sellers made a gross gain less than £200k, Hamptons estate agents said. The average London seller sold their home for £197,730 more than they paid for it [...]
Homebuilder CALA anticipates revenue well above pre-pandemic levels January 10, 2022 Homebuilder CALA Group said it anticipates £1.25bn revenue, surpassing pre-pandemic levels. In unaudited results for the year to 31 December 2021, the homebuilder said it expected pre-tax profit of around £130m, an increase of 35 per cent on 2019. The Surrey-based firm reported 2,904 home completions, up 19 per cent on its 2019 total, and [...]
Cladding campaigners call for financial aid to cover remediation of other fire hazards January 9, 2022 Cladding campaigners have called on ministers to do more to help leaseholders of unsafe buildings facing “ruinous debts”. Housing minister Michael Gove is expected to announce tomorrow that leaseholders in buildings between 11 and 18.5m in height will no longer be forced to take out personal loans to cover the cost of removing dangerous cladding. [...]
THG on warpath to prove collusion as firm hands City regulator data dossier January 9, 2022 E-commerce firm THG has given a dossier of data to the Financial Conduct Authority (FCA), in a bid to prove hedge funds and stockbrokers conspired to push its share price down. THG chief executive Matt Moulding believes a dossier of irregular stock market trading and short-selling data will prove collusion against his company, according to [...]
Ladbrokes and Coral owner warns stricter gambling rules may encourage ‘black market’ January 9, 2022 Too tough rules on the betting and gambling sector may push individuals towards underground operators, according to the boss behind Coral and Ladbrokes. In an interview with the Sunday Times, Entain CEO Jette Nygaard-Anderson said she feared future regulations could see gamblers encouraged to seek out a “black market” of unlicensed websites. Ministers should strike [...]
Just 12 tower blocks see dangerous cladding removed through £5bn fund January 7, 2022 Just 12 buildings have had dangerous cladding removed with the aid of a £5bn government fund, which was created to fix thousands of risky tower blocks. The Building Safety Fund was created in 2020 to help residents of blocks more than 18 metres tall with the removal of a certain type of hazardous cladding. Some [...]
Sainsbury’s reveals 5.3 per cent pay hike for shop staff in £100m investment January 7, 2022 Sainsbury’s has announced it will be investing £100m into pay increases for staff, with a basic hourly pay of at least £10. Basic hourly pay for Sainsbury’s and Argos store workers will rise to £11.05 for inner London and £10.50 in outer London, the supermarket revealed on Friday. The company said it was also increasing [...]
Teletext Holidays and Alpharooms cease trading as customers owed refunds January 7, 2022 Travel firms Teletext Holidays and Alpharooms have collapsed into liquidation as thousands of customers are still owed refunds. According to a report in The Sun, parent company Truly Holdings, has ceased trading, the government’s insolvency database shows. Some 4,000 consumers are thought to be impacted by the collapse, according to MoneySavingExpert. Thousands of customers complained [...]
Car seller Lookers anticipates record yearly profit despite vehichle shortages January 7, 2022 New and used car seller Lookers has said it expects record underlying profit before tax ahead of company compiled market consensus of £82m for 2021. In an update on Friday morning, the firm noted a strong balance sheet, with net cash of approximately £8.0m as at 31 December 2021, compared to £40.7m net debt in [...]
