‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Revenues up at Slug and Lettuce owner Stonegate Pub Company July 4, 2016 Slug and Lettuce and Yates owner Stonegate Pub Company toasted healthy double-digit revenue growth in its first-half results today. The figures Total revenue across Stonegate's 660 managed pubs and bars was up 12.8 per cent to £342m for the 28 weeks to 10 April, up from £303m in the first half of 2015. Like-for-like revenue increased [...]
Cobra Beer founder Lord Bilimoria explains the immigration policy behind Britain’s curry crisis July 3, 2016 Since they first started becoming popular in the 1940s, curry houses have become a staple of Britain’s towns and evenings out. The nation’s favourite cuisine was adopted and then adapted from its spicy, South Asian roots to suit our more sensitive tastebuds. Along the way, it has spawned an industry worth £4bn and, directly and [...]
Stock Spirits in more hot water with investors after board of directors appointments at AGM July 3, 2016 Shareholder dissent is brewing again at Stock Spirits, where several investors are "unhappy" with the drinks company's handling of two non-executive director (NED) appointments in May. Two NEDs, former Heineken executive Alberto da Ponte and former PepsiCo executive Randy Pankevicz, were appointed to the Eastern European vodka maker's board at its AGM on 23 May. However, Stock Spirits swiftly categorised the appointments, which [...]
West Country pubco St Austell Brewery toasts Bath Ales acquisition July 3, 2016 West Country brewer and pub owner St Austell Brewery has acquired Bath Ales for a non-disclosed sum. Cornwall-based St Austell, which owns 167 pubs and inns in the South West, will acquire both Bath Ales' portfolio of beer brands including Gem and Barnsey, as well as its 11-strong pub estate in Bristol, Bath, Cirencester and [...]
Government shrugs off Gibraltar fears for gambling sector July 1, 2016 The government's representative in Gibraltar has shrugged off fears that the remote gambling industry will be under threat after last week's Brexit vote. It said the industry has remained "strongly committed" to keeping its online gaming operations in the British Overseas Territory, after speaking with every gambling operator that has a presence on the island, as [...]
US National Highway Traffic Safety Administration launches investigation after Tesla driverless car death July 1, 2016 A preliminary investigation has been launched after the death of a man in Florida who was driving a Tesla Model S car on autopilot mode. The crash with a tractor occurred on 7 May and is the first known fatality in more than 130m miles where Tesla's autopilot setting has been activated, the electric car maker said [...]
Yields are up in the gambling sector but don’t bet on online gambling taking over anytime soon July 1, 2016 The punters are going to wish they'd bet on this. Yields in the gambling sector rose by a robust 12.5 per cent between October 2014 and September 2015 to £12.6bn, according to the latest industry figures from the Gambling Commission. The sector's gross gambling yield, the amount retained by operators after the payment of winnings but [...]
Last week’s UK referendum result boosted fine wine sales to Asia June 30, 2016 The fall in sterling after last week’s Brexit vote led to a spike in fine wine sales to Asian buyers. As the pound dropped to a 31-year low, a global fine wine and spirits merchant BI generated a week’s revenue in six hours on its online trading platform. Sales to Asian buyers jumped eight times [...]
UPDATE: Hershey’s rejects Mondelez International takeover bid June 30, 2016 Chocolate manufacturer Hershey's has today rejected a takeover bid from Mondelez International. In a brief statement, the chocolate maker didn't sugarcoat the fact that the board, after getting input from the company's management and outside financial and legal advisers, had decided to unanimously rejected the offer. Hershey's also said that it would not be discussing the matter further with [...]
Union Unite seeks job security assurance as Carlsberg dismantles secondary logistics arm and outsources 900 jobs June 30, 2016 The trade union Unite has said it is "dismayed" at brewer Carlsberg's proposals to outsource 900 jobs at its beer distribution arm. Carlsberg announced yesterday it will complete the transfer of its remaining secondary logistics operations to DHL Tradeteam no later than March 2018. The move follows a strategy change announced in November last year to cut [...]
