London tourism sector calls for urgent financial support to avert crisis July 13, 2020 London’s tourism sector has urged the government to provide it with a specific package of support, warning the coronavirus pandemic could create an economic crisis for the industry. In total 10,776 London attractions, restaurants, hotels, industry bodies and event organisers have written to the Prime Minister to call for investment and a plan for tourists [...]
Wetherspoon slashes prices after hospitality VAT cut July 13, 2020 Pub chain JD Wetherspoon will slash the price of a range of meals and drinks following the government’s decision to cut VAT for the hospitality industry. Chancellor Rishi Sunak announced last week that VAT will be reduced from 20 per cent to five per cent until next year. Wetherspoon said today that it will “fully [...]
Carlsberg expects better than forecast profit as China trade bounces back July 10, 2020 Danish brewer Carlsberg said today that it expects to suffer a smaller drop in profit than previously forecast after trade in China bounced back after the coronavirus lockdown. The firm said it expects a nine per cent drop in operating profit in the second quarter compared to analyst forecasts of a 26 per cent decline. [...]
Wagamama owner The Restaurant Group says some sites will remain closed until 2021 July 10, 2020 Wagamama owner The Restaurant Group has secured a £50m government loan it said this morning as it revealed that some sites won’t reopen until next year. The Restaurant Group said today that just 25 per cent of its 400 sites will be open by the end of July, despite the government giving a green light [...]
The Friday Interview: Chris D’Sylva and the Supermarket of Dreams July 10, 2020 Every Friday, City A.M. Deputy Editor Andy Silvester interviews somebody making waves in the finer things in life: food and drink. This week he sits down with Chris D’Sylva amidst the stacked shelves of the “Supermarket of Dreams,” which opened amidst lockdown in the first week of June Nestled amongst the somewhat staid independent shops [...]
Beauty salons, massage parlours and gyms set to reopen in England next week July 9, 2020 Beauty salons, nail bars, tattoo studios, massage parlours, spas and gyms are set to reopen next week after months of closure during the coronavirus crisis, the government announced today, though facial treatments will remain prohibited under strict social distancing measures. Culture secretary Oliver Dowden today said: “Having allowed hairdressers to reopen, beauticians, tattooists, spas, tanning [...]
FTSE 100 falls as coronavirus cases overshadow Sunak stimulus July 9, 2020 The FTSE 100 lost one and a half per cent today as fears over a continued rise in coronavirus cases offset chancellor Rishi Sunak’s £30bn of extra financial firepower. The UK index initially barely moved after yesterday’s 0.55 per cent drop, which left it at 6,156 points. By 4pm today the FTSE 100 had fallen [...]
Sunak’s spending spree ‘catastrophe’ for UK’s night time industry July 9, 2020 Casinos, comedy clubs and nightclubs have accused the chancellor of letting Britain’s night industry “slip through the cracks”, as a new wave of financial support for the hospitality industry failed to provide specific support for shuttered night time venues. Chancellor Rishi Sunak unveiled a raft of measures in his £30bn mini-Budget yesterday, in a bid [...]
We can’t rebuild an economy on half-priced meals — we need a productivity revolution July 9, 2020 If Joe Wicks or Couch To 5K have helped you shed a few pounds during lockdown, chancellor Rishi Sunak may have just undone all your hard work, tipping the scale in favour of eating out a lot more in August. For every Monday, Tuesday and Wednesday, the Eat Out to Help Out scheme will entitle [...]
Burger King boss warns over UK restaurant closures and job losses July 9, 2020 The chief executive of Burger King UK has warned that the fast food chain could close up to 10 per cent of its branches due to the coronavirus crisis, putting up to 1,600 jobs at risk. Burger King boss Alasdair Murdoch said that the burger chain could close between five to 10 per cent of [...]