Society of Independent Brewers moves to take back craft beer from big drinks companies August 9, 2016 The Society of Independent Brewers (SIBA) has today launched a new initiative to push big brewers out of the craft beer scene. SIBA will offer its new “Assured” stamp of approval to breweries “truly independent of any larger controlling brewing interest” who also pledge to its manual of good brewing practice. There is no strict [...]
Panic at the disco? Nightclubs are struggling to compete with bars and pubs August 8, 2016 The party could be winding down in the UK's nightclub scene, as revenues in the top 100 nightclubs have fallen nine per cent in the last year. A lack of access to funding and increased competition has left clubs struggling to compete with late-night bars and pubs, according to commercial lender Ortus Secured Finance. Turnover [...]
Oxford Economics study finds soft drinks tax will cost UK economy £132m and put 4,000 jobs at risk August 8, 2016 The sugar tax will put more than 4,000 UK jobs at risk and will cost the economy £132m as a result of lower sales, research from global forecasting group Oxford Economics has found. The levy on soft drinks, which was a surprise announcement in the March Budget, will have the biggest impact on the hospitality sector and [...]
Walmart nabs Amazon rival Jet.com in $3.3bn deal August 8, 2016 US retail giant Walmart has scooped up Amazon rival Jet.com in a $3.3bn (£2.5bn) takeover, the companies announced today. The deal, which Walmart will use to bolster its online offerings, has been approved by both companies' boards of directors and is expected to close in the second half of this year. Part of the $3bn [...]
Luxury holiday site Secret Escapes expands operations to France and Eastern Europe August 8, 2016 Cut-price luxury holiday site Secret Escapes has no time to relax by the pool this summer, as the company has expanded its operations into another four European countries. The flash sales travel hub is now available in France, where it will be called Evasions Secretes, as well as Slovakia, Hungary and the Czech Republic. In [...]
Posh crisp maker Tyrrells snapped up by Amplify Snack Brands for £300m August 8, 2016 US publicly-listed food group Amplify Snack Brands has acquired posh crisp and popcorn maker Tyrrells in a £300m deal. Tyrrells' chief executive, David Milner, will become president international of Amplify Snack Brands upon completion of the takeover. The premium, hand-cooked potato and vegetable crisp maker has expanded into other savoury snacks such as popcorn in recent [...]
China dominates top spots in Global Cities 30 index while London’s place slides on Brexit vote August 8, 2016 China has claimed three of the top five spots in an inaugural Global Cities 30 index, while London has slipped from its intended fourth spot to 10th following the vote to leave the EU. Shanghai was crowned the top global city in the list, compiled by real estate fund Schroders out of an analysis of 161 cities, [...]
Ladbrokes calls time on giant football odds after Leicester City Premier League win August 7, 2016 Ladbrokes has called time on giant football odds after Leicester City’s Premier League win slapped the bookmaker with a multi-million pound payout earlier this year. Odds for Leicester City had been 5,000/1 when the league kicked off and cost Ladbrokes £3m when the underdog outsider team won. Fellow bookmaker William Hill said its costs had been [...]
Bitcoin price almost fully recovers from Hong Kong hack-driven losses August 7, 2016 The bitcoin price has recovered almost all of its losses since it plunged last week after hackers targeted the Hong Kong-based exchange Bitfinex. The price of a single bitcoin fell around 20 per cent to $483.10 after it emerged on 2 August that hackers had stolen more than $60m (£46m), or around 120,000 coins, from [...]
Canadian Mounties among bidders eyeing up SABMiller’s European beers August 7, 2016 Canada's mounted police force is among the bidders poised to make a £4bn offer for SABMiller’s Central and Eastern European drinks brands. A pension fund manager that invests on behalf of the Mounties, PSP Investments, is one of the groups preparing a deal, the Sunday Times reported. Buyout group KKR and Advent International are also [...]
