Nine per cent of employees on furlough as scheme nears end October 15, 2020 Just over nine per cent of Britain’s workforce remain on furlough with less than a month to go before the scheme is replaced by less generous job support measures, a survey showed. Some 9.1 per cent of workers were furloughed during the two weeks to 4 October, according to a survey of businesses by the [...]
Franco Manca owner Fulham Shore spots expansion opportunities in coronavirus chaos October 15, 2020 Fulham Shore, the owner of restaurant chains Franco Manca and The Real Greek, is eyeing expansion due to the low rents and empty venues caused by the coronavirus pandemic. The firm said this morning that “the future looks promising” as more sites become available and with rents “likely to be falling for the next few [...]
Ocado’s depot plans halted by North London residents October 15, 2020 Ocado has lost the right to build a new delivery hub in north London after campaigners successfully lobbied the council to halt plans. Islington Council has withdrawn the site’s certificate of lawfulness to open the distribution centre next to Yerbury school, accusing Ocado’s landlords, Telereal, of providing “false and misleading evidence” and “withholding material information” [...]
Ryanair makes further winter capacity cuts as it shuts three bases October 15, 2020 Ryanair (RYA) has cut its winter capacity from 60 per cent to 40 per cent of last year’s levels as it contends with further flight restrictions across Europe. The budget airline said air travel to and from much of central Europe, the UK, Ireland, Austria, Belgium and Portugal had been “heavily curtailed” due to the [...]
Heineken fined for forcing pubs to stock ‘unreasonable’ amounts of beer October 15, 2020 Heineken’s pubs division has been slapped with a £2m fine for forcing its tenants to stock “unreasonable levels” of its own beers and ciders. The Pubs Code Adjudicator (PCA) ruled that Star Pubs & Bars, which operates the pub estate business of Heineken in the UK, had “seriously and repeatedly” breached the pubs code over [...]
British American Tobacco appoints new chairman October 15, 2020 British American Tobacco has announced that Luc Jobin will succeed Richard Burrows as the company’s chairman. Jobin, a former chief executive Canadian National Railway Company and Imperial Tobacco Canada, will take over from Burrows at BAT’s annual general meeting in April next year. The Canadian first joined BAT’s board in 2017 as a non-executive director. [...]
Marston’s cuts 2,150 jobs due to new coronavirus restrictions October 15, 2020 Pub chain Marston’s has put 2,150 jobs at risk of redundancy following the introduction of new three-tier coronavirus restrictions. The government announced the new local lockdown system earlier this week, with most pubs in areas placed in the highest tier of restrictions expected to close. Marston’s said the introduction of the new rules is “hugely [...]
Charles Stanley revenues drop amid ‘difficult times’ October 15, 2020 Investment management firm Charles Stanley (CAY) saw revenue drop in the second quarter while funds under management and administration edged higher. Group revenue fell 6.8 per cent to £39.9m in the second quarter, resulting in a 4.1 per cent reduction over the first half to £82m. Total funds under Management and Administration (Fuma) rose 12.9 [...]
Goldman Sachs: Brexit drama ahead but thin deal could be reached October 15, 2020 There could be Brexit-related drama at this week’s EU summit but a thin Brexit deal is likely to be struck by early November, Goldman Sachs analysts said. “We think the perceived probability of ‘no deal’ will persist through the course of October,” analysts led by Sven Jari Stehn wrote in a client note. “But our [...]
Return of live sport after lockdown pushes Domino’s sales to £342m October 15, 2020 The return of televised live sport after lockdown saw Domino’s sell an extra 600,000 orders in the third quarter, pushing sales to £342.1m. The pizza chain reported an 18.7 per cent jump in UK and Ireland sales for the 13 weeks ended 27 September, with orders also boosted by the increase in UK staycations over [...]
