Inflation back in focus ahead of key US and eurozone releases August 26, 2024 The continuing battle against inflation will be the main focus for markets this week as new data will shed light on the state of price rises in both the US and the eurozone.
Growth in food retail at highest in two years thanks to summer finally arriving August 21, 2024 After a damp start to summer, till sales growth boomed in July to record the strongest growth for food retail in two years. Total till sales at UK supermarkets grew 5.5 per cent in the four weeks ending 10 August 2024, up from 3.6 per cent in the previous month, according to fresh data by NIQ. [...]
Claridge’s Hotel: Major expansion helps sales and profit surge at five-star London icon August 21, 2024 Sales at Claridge’s Hotel surged by more than 20 per cent in 2023 thanks to a “strong” recovery from the Covid-19 pandemic and the completion of a major expansion project. The five-star London hotel has reported a turnover of £119.3m for its latest financial year, up from the £98.1m it achieved in 2022. According to [...]
UK retail sales tick up in July after summer discounts and Euros boost August 16, 2024 Friday's data is among a raft of economic figures released this week that will provide key indicators for Bank of England policymakers as they decide whether to cut interest rates in September.
US inflation dips to three-year low August 14, 2024 US inflation reached its lowest since March 2021 in July, coming in at just 2.9 per cent and further strengthening the case for an interest rate cut from the Federal Reserve. Analysts had expected US inflation in July to come in at three per cent, unchanged from where it had fallen to in June. While [...]
UK inflation comes in below expectations in July August 14, 2024 UK inflation jumped back above the Bank of England’s two per cent target in July, but came in below City estimates for the period. According to figures released this morning by the Office for National Statistics (ONS), prices rose 2.2 per cent in July. Meanwhile, core inflation, or price rises excluding volatile food and energy [...]
Burger King UK’s revenue spikes after restaurants revamped and new sites opened August 12, 2024 Burger King has reported a rise in sales and revenue in 2023 after a boost from new restaurant openings. Revenue spiked by a huge 30 per cent, although like-for-like sales only rose by three percent. The rise in revenue was due to growth in the “existing estate and new restaurants”, as well as “good cost [...]
Natwest to ‘suffer significant shortfall’ with a 90 per cent loss after Island Poke collapse August 8, 2024 Natwest is on course to “suffer a significant shortfall” following the collapse of London-based Hawaiian food chain Island Poke, it has been revealed. The bank is one of the major creditors to the business which was sold in a pre-pack administration to a subsidiary of hospitality incubator White Rabbit Fund in July. The food business [...]
Rising costs force owner of Blackpool’s piers into the red August 6, 2024 The company the owns Blackpool’s three iconic piers fell into the red during its latest financial year, it has been revealed. The Blackpool Pier Company, which owns the South, Central and North piers on city’s Promenade, has posted a pre-tax loss of £335,652 after reporting a pre-tax profit of £354,231 in 2022. According to newly-filed [...]
Turtle Bay serves up another record year after championing four-day week August 5, 2024 Caribbean restaurant and bar chain Turtle Bay has reported another record year and hailed the success of its switch to a four-day working week for its employees.