London house prices: First-time buyers need household income of nearly £100k to buy May 3, 2023 Londoners’ desire to get on the property ladder has helped fuel the housing market in the capital, despite households now needing an extra £12k in income to be able to afford their own place. Figures released by Zoopla, show that in April house price growth in London rose by 0.5 per cent, as demand and [...]
Superdry: Plans to raise equity boost share price as it attempts to trim £35m costs May 2, 2023 Embattled fashion brand Superdry is in “positive discussions” with investors for a 20 per cent equity raise as it looks to improve its balance sheet in the wake of tough trading – hiking its share price by 0.58 per cent. The news came in response to media speculation that Julian Dunkerton, chief of the company, was [...]
TRG: Analysts bump up share price target after strong growth May 2, 2023 Shares in Wagamama owner, The Restaurant Group (TRG), soared over 13 per cent this morning as it reported strong growth for the year so far, defying previous concerns from investors. TRG told the market that Wagamama sales were up nine per cent in the first leg of the year and performance in its pubs and [...]
Greene King revenues top £2bn as pub chain hopes inflation fears will be drowned out by a boozy Coronation May 2, 2023 Greene King said revenues continued to soar however the chief executive of the group warned that inflation and the cost of living crisis would prove a “tough backdrop” for the hospitality sector. The pub operator, which has over 2,000 sites across the UK, reported a revenue hike of 62.2 per cent for the 52 weeks [...]
House prices rise for the first time in seven months but analysts still expect a rough ride May 2, 2023 The housing market showed “tentative” signs of recovery in April as the price of homes rose 0.5 per cent during the month, however prices remain four per cent below their August 2022 peak. The Nationwide house price index showed that the annual rate of house price growth improved to -2.7 per cent from -3.1 per [...]
Berkeley Homes to sue Michael Gove for ‘irrational’ decision to block Kent housing development, reports May 2, 2023 Berkeley Homes, one of the UK’s biggest housebuilders, has taken Michael Gove to court over his decision to block one of its developments because he did not like the look of the homes. The housing secretary overruled planning inspectors and refused permission for a 165-home development in Kent over claims about generic properties, according to [...]
Heineken: Beer giant shows love for local pubs with £40m injection May 1, 2023 Heineken will invest £40m into 570 pubs it owns within its hospitality business, as the beer giant looks to show support for local boozers amidst the cost of living criss. Almost a quarter of businesses within its Star Bar & Pub group will receive the boost – with 100 of these scheduled for revamps averaging [...]
Coronation: How much will it be worth to the West End? April 30, 2023 Retail and hospitality businesses across London’s West-End are gearing up for a £50m boost during the Coronation weekend, as a flock of tourists will help temporarily relieve inflationary and cost of living woes. According to figures from New West End Company, which represents 600 retail, restaurant, hotel and property owners spanning from Bond Street to [...]
Pret hikes price of coffee subscription in wake of soaring inflation April 26, 2023 Pret-A-Manger has revealed that it is increasing the price of its subscription service by £5 in the wake of soaring inflation. The London-born coffee chain said that the price of its ‘Club Pret’ loyalty service is rising from £25 to £30, however, fans of the cafe will now also receive a 10 per cent discount [...]
John Lewis boss vows to keep employee-owned retailer ‘unique’ April 26, 2023 Dame Sharon White has vowed to preserve what makes the John Lewis Partnership “unique,” as the chief of the struggling retail chain outlines how the company plans to navigate the cost of living crisis and retain its customer base. Dame Sharon told The Telegraph retailers were continuing to see the “effects of the pandemic” and [...]
