Young people face economic ‘scarring’ from Covid, says top think tank July 3, 2020 The coronavirus recession has dealt a double blow to young people in the UK, who are more likely to have lost their jobs amid the lockdown and now face bleak career prospects, a leading think tank has warned. New research from the Institute for Fiscal Studies (IFS) today said the carnage in the hospitality and [...]
Cafe Rouge and Bella Italia owner cuts 1,900 jobs as it collapses into administration July 2, 2020 The owner of high street restaurant chains Cafe Rouge and Bella Italia has collapsed into administration and slashed 1,900 jobs, as the hospitality sector continues to feel the strain of the pandemic. Ninety one of Casual Dining Group’s restaurant outlets will close with immediate effect, slashing 1,900 of the firm’s 6,000 staff in the process. [...]
4 July reopening: Soho to sizzle as street festival kicks off this weekend July 2, 2020 The West End is set to be the epicentre of 4 July reopening revelry this weekend with newly pedestrianised streets heralding what some are calling “The Summer of Soho”. Westminster Council have now confirmed that a number of streets in the famous entertainment district will be closed to motor traffic. That will allow venues to [...]
Economists predict record US jobs growth in June in botched reopening July 2, 2020 The US economy likely created jobs at a record clip in June as more restaurants and bars resumed operations, economists have predicted. But a surge in coronavirus cases now puts the US economy’s fledgling recovery and jobs growth at risk. The Labor Department’s closely watched monthly employment report today is expected to add to a [...]
Boohoo defends workplace practices after report of sick staff in Leicester July 2, 2020 Boohoo has been forced to issue a statement in defence of its supply chain practices, after a labour group alleged the firm was forcing staff sick with coronavirus to turn up to work. Labour Behind the Label, a campaign group for workers’ rights, said it had received reports of “workers being forced to come into [...]
DS Smith profit strengthened by e-commerce demand during lockdown July 2, 2020 Packaging supplier DS Smith has said a strong demand in ecommerce, as well as a growing environmental awareness, helped full year-profit inch up five per cent. The figures DS Smith reported full-year revenues of £6.04bn, down from £6.17bn in the year before. The coronavirus crisis has dented revenues by approximately £15m in the final two [...]
All Bar One owner Mitchells & Butlers falls to £121m loss during lockdown July 2, 2020 All Bar One owner Mitchells & Butlers said it sank to a £121m pre-tax loss in its half-year ending in April due to lockdown, it said today. The owner of more than 1,700 pubs, bars and restaurants around the UK, Mitchells & Butlers was forced to close all its outlets when lockdown began on 23 [...]
Boisdale launches campaign to allow live music in restaurants July 1, 2020 London restaurant group Boisdale has launched a campaign urging the government to overturn a ban on live music in restaurants, as the hospitality sector prepares to reopen after months of lockdown. Boisdale, which owns restaurants in Mayfair, Bishopsgate, Canary Wharf and Belgravia, has said it will continue to host live music performances at one of [...]
Wirecard UK fallout lessens June 30, 2020 Readers will be very familiar with the €1.9bn Wirecard scandal that has rocked Germany, firmly placed a spotlight back onto the world of auditors and dangerously caused pause for thought for Fintech firms in the U.K. from a regulatory standpoint. As of this morning at 00.01 the FCA resumed Wirecard Solutions’ regulated activities which meant [...]
‘The worst is yet to come’: WHO casts doubt on global coronavirus recovery June 30, 2020 The World Health Organisation (WHO) has warned the worst of the coronavirus pandemic is “yet to come” if governments around the globe do not overcome their divisions. Head of WHO, Tedros Adhanom Ghebreyesus, yesterday said that “although many countries have made some progress, globally the pandemic is actually speeding up”. “Unless we address the problems [...]