Wagamama owner warns of ‘volatile market’ as food and drink inflation surpasses expectations May 24, 2022 The owner of Wagamama has warned food and drink inflation is anticipated to be as high as 10 per cent this year, higher than earlier estimations. In a trading update ahead of its AGM, The Restaurant Group (TRG) said its cost pressures had been exacerbated by the war in Ukraine. Food and drink inflation was [...]
Snapchat’s shares slump as chief exec warns against revenue and hiring slowdown May 24, 2022 Snapchat has warned it would be slowing its hiring process, warning investors that revenue would slow in the coming months, hitting the low-end of estimates.
Geopolitical shock: regime change in inflation and monetary policy May 24, 2022 Globalisation is besieged on multiple fronts. Two years after the outbreak of the Covid-19 pandemic and amid growing geopolitical unrest, the decades-long disinflationary headwind has reversed. Many multinationals have taken steps to address the disruptions to their ultimately brittle global value chains. These companies are re-orienting to prioritise availability over cost-optimisation. This process manifests in [...]
Cost of living crunch: Grocery price inflation hits highest level in 13 years as households struggle to pay bills May 24, 2022 Grocery price inflation has now hit the highest level since May 2009, with almost a quarter of households saying they are struggling to make ends meet. Supermarket prices have risen seven per cent over the past four weeks, according to the latest grocery sales data published by Kantar this morning. Products to see the sharpest [...]
Greencore revels in rising revenues powered by food-to-go services and acquisitions May 24, 2022 Convenience food manufacturer Greencore Group has enjoyed a 33.6 per cent boost in revenues, according to its latest half-year update.
Topps Tiles hails record turnover with Brits still hooked on home repairs May 24, 2022 Topps Tiles, the UK’s largest tile specialist, has hailed a record turnover for the first half of the year, with Brits still hooked on repairing and improving their homes following the easing of lockdown restrictions. The London-listed retailer snagged £199m in the six months to 2 April, up more than 15 per cent in comparison [...]
Cranswick cooks revenue above £2bn for first time as the food firm weathers supply and labour storm May 24, 2022 UK food producer Cranswick cooked up a revenue above £2bn for the first time, with adjusted group operating margin maintained at seven per cent.
Public sector borrowing hit £18.6bn last month, fourth-highest April since 1993 May 24, 2022 Government borrowing stood at £18.6bn last month, down by £5.6bn from a year ago, but still the fourth highest April borrowing since records began in 1993, according to official figures. The Office for National Statistics (ONS) said this morning that, despite the fall, government borrowing was £7.9bn more than in April 2019 before the pandemic [...]
West End landlord Shaftesbury reaps rewards of London’s exploding rents May 24, 2022 West End landlord Shaftesbury has reaped the rewards of exploding rental growth in London, as its portfolio valuation swells as the new Elizabeth line is unveiled. The real estate investment trust raked in nearly £19m in rent in the six months to 31 March, as its offices, hospitality and leisure, retail and residential portfolio increases [...]
The government should look beyond a windfall tax to see the merit of insulation May 24, 2022 Labour leader Keir Starmer taunted the prime minister at the dispatch box last week, gloating that a windfall tax – the flagship proposal from the opposition to cut down energy bills – was now “inevitable”. Such confidence from Starmer is not unearned, as it has been fuelled by a litany of u-turns from Boris Johnson’s [...]