London restaurants: Outlook ‘bleak’ as insolvencies mount across the industry February 1, 2023 London restaurateurs have described the outlook for the sector as ‘bleak’ after research has revealed that the number of hospitality businesses going bust has jumped by 65 per cent in the last year. The figures, which were released by accountancy firm Price Bailey, show that 1,880 British restaurant businesses became insolvent in 2022, compared to [...]
Food inflation soars to highest level on record February 1, 2023 Food inflation has reached its highest level on record, with the sector predicting no stall in price increases throughout the year. Figures published in the British Retail Consortium’s (BRC) shop price index show food inflation rose to 13.8 per cent in January, up from 13.3 per cent in December. This rise has pushed it above [...]
Sucralose inventor Tate & Lyle expects to beat inflationary pressures despite fall in demand for artificial sweetners January 26, 2023 Tate & Lyle has posted a robust third quarter update, propped up by its food and beverage solutions division.
London motorists hit with sharpest uptick in car insurance costs as UK premiums surge January 25, 2023 Motorists are now paying £100 more for car insurance than last year, according to new research which shows premiums have increased at their sharpest rate in six years. Car insurance premiums have increased 19 per cent over the past 12 months, meaning motorists now pay average sums of £629 to insure their vehicles, Confused.com’s Car [...]
UK’s wealth gap: Cost of living crisis boosts income of richest Brits by £1k but leaves poorest £600 a year worse off January 25, 2023 The disparity between Britain’s richest and Britain’s poorest earners has grown as a result of the cost of living crisis and a freezing in the income tax threshold, figures have revealed. The richest Brits have managed to increase their household disposable income by just over £1,000 in the last year, while the poorest are on [...]
The Notebook: Victoria Scholar on Chinese New Year, air fares and edible economics January 24, 2023 The notebook is where interesting people say interesting things. Today it’s Victoria Scholar, Head of Investment at Interactive Investor, on Chinese New Year, why air fares are on the increase and what we can learn about economics from food As the Chinese New Year begins, investors are increasingly turning their attention back to markets in [...]
Yule be happy: Christmas trading powers Primark owner’s rising revenues January 24, 2023 Food processing giant and Primark owner Associated British Foods has posted a bullish trading update, unveiling an upturn in revenues.
Why is the FTSE 100 nearing a record high with a recession looming? It ain’t the economy, stupid January 24, 2023 The FTSE 100 is becoming one massive hedge fund. That’s why it’s doing so well when all the doomsters have warned the UK is headed for a long, albeit shallow, recession over the next year. Of course, the stock market isn’t the economy. How many high street coffee shop owners do you know that worry [...]
Top Gun: Maverick and pricier tickets help Everyman cinemas post 75 per cent boom in earnings January 23, 2023 Blockbuster movie Top Gun: Maverick helped boost Everyman Media’s revenues by 62 per cent as Brits continue to embrace cinema going as an affordable luxury. The company, which has 14 of its 38 cinemas in greater London, announced its annual update to December, reporting revenue of £79.7m which is up from the previous covid-impacted year [...]
FTSE 100 close: Blue chip index ends higher as disappointing retail sales figures fail to dent JD Sports, Frasers and Burberry January 20, 2023 London’s FTSE 100 index closed the week marginally higher, clawing back some some of this year’s earlier gains following a poor performance yesterday. The capital’s premier index climbed 0.3 per cent to 7,770.59 points, while the domestically-focused mid-cap FTSE 250 index rose 0.7 per cent to close at 19,702.63. JD Sports, Frasers and Burberry were [...]