Hospitality: 96,000 firms to close next year without reform to tier system November 18, 2020 The coronavirus pandemic could force around 96,000 hospitality firms out of business next year, industry trade bodies have warned. A survey of British Beer & Pub Association, British Institute of Innkeeping and UK Hospitality members found that 72 per cent of firms expect to become unviable and close in 2021. Firms said the tiering system [...]
Marks & Spencer launches ‘innovation hub’ to expand plant-based food range November 18, 2020 Marks & Spencer (M&S) has announced the launch of a “innovation hub” to develop sustainable food products. The retailer announced today that the nine-strong innovation team, which will launch in January, will seek to capitalise on emerging trends, such as veganism and environmental causes, to become “more relevant” to its customers. Research will include soya-alternative [...]
London rental growth slows to lowest rate in three years November 18, 2020 Private rental prices in London grew 0.9 per cent in the 12 months to October, compared to 1.2 per cent growth the previous month
UK house prices surge to record high in September November 18, 2020 UK house price growth accelerated in September, driving average property prices in London and across the UK to a record high. House prices across the UK increased by 4.7 per cent to £245,000 in the year to September, up from three per cent growth in August. London’s average house prices hit a record high of [...]
Deutsche Boerse buys Institutional Shareholder Services in $1.8bn deal November 17, 2020 LSE rival Deutsche Boerse has announced it will buy a majority stake in Institutional Shareholder Services (ISS) in a deal that values the proxy adviser at $2.3 billion
Hospitality boss warns 660,000 jobs lost before second lockdown pushed sector into ‘intensive care’ November 17, 2020 Around 660,000 hospitality jobs were lost this year before the second coronavirus lockdown was implemented, the industry trade body told MPs today The pandemic had already wiped out 20 per cent of jobs in the sector, which was previously the third biggest employer in the country, by the end of September, UK Hospitality boss Kate [...]
Hospitality supplier Johnson Service Group axes 1,500 jobs November 17, 2020 Johnson Service Group, a provider of workwear and hotel and restaurant linens, has announced it will shrink its headcount by around 1,500 jobs this year, as the impact of the coronavirus pandemic on the hospitality sector sweeps through the supply chain. The Cheshire-based firm said its hotel, restaurant and catering (HRC) division had been badly [...]
Asda sales growth slows but grocer forecasts bumper online Christmas November 17, 2020 Asda’s sales growth slowed in the third quarter as lockdown restrictions lifted and hospitality businesses reopened, the supermarket announced this morning as it said customers are already stocking up for a “very different” Christmas this year. The grocer’s like-for-like sales excluding fuel were up 2.7 per cent in the three months ended 30 September, compared [...]
Tesco, M&S and Sainsbury’s face allegations of worker exploitation in India November 17, 2020 UK retailers including Marks & Spencer (M&S), Tesco and Sainsbury’s are facing calls to apologise following allegations of worker exploitation in their supply chains. Supermarket supplier workers in India reportedly said they do not get toilet breaks or sufficient breaks to drink water or eat lunch. One member of staff told the BBC they were [...]
Small businesses ‘more prepared’ for second lockdown, research shows November 17, 2020 Two-thirds of small and medium sized enterprises (SMEs) in England felt more prepared for the current national lockdown compared to when restrictions were first introduced in March. Businesses said they were more prepared for the new coronavirus rules, under which hospitality venues and non-essential stores have been ordered to close. The latest research showed that [...]
