Commercial landlords banned from using ‘aggressive’ rent collection tactics April 23, 2020 UK shops, restaurants and pubs will be protected against aggressive rent recovery action during the coronavirus crisis after the government issued new rules for commercial landlords. The government has temporarily banned the use of statutory demands and winding up orders until at least June following pressure from the retail and hospitality sectors. Many retail, hospitality [...]
Coronavirus: Gourmet Burger Kitchen and Ask Italian owner Azzurri appoint advisers April 23, 2020 Casual dining chains Gourmet Burger Kitchen (GBK) and Azzurri, the owner of Ask Italian and Zizzi, have both appointed advisers amid the coronavirus pandemic. Restaurants have been severely impacted by the coronavirus outbreak and subsequent lockdown, which has resulted in an unprecedented drop in revenue. GBK has appointed Deloitte to advise on future options for [...]
More than 1m hospitality jobs at risk without extra government support, industry warns April 23, 2020 More than 1m hospitality jobs could be lost if coronavirus social distancing measures are extended without extra government support for the sector, the industry has warned. UK Hospitality has written to Cabinet Office minister Michael Gove to urge for more support for the country’s pubs, bars and restaurants amid concerns that social distancing measures could [...]
Hiscox faces legal action over coronavirus business interruption claims April 22, 2020 The Night Time Industries Association, which represents bars and clubs across the UK, has launched legal action against Hiscox, alleging the insurer has refused to pay out for claims during the coronavirus pandemic. The organisation is arranging class action against the insurer, which it said has denied liability under its business interruption policy. All night [...]
Chris Whitty: Social distancing measures likely in place until next year April 22, 2020 There is only an “incredibly small probability” of a coronavirus vaccine being available for public use or a full lifting of social distancing restrictions in the next calendar year, according to the UK’s chief medical officer. Professor Chris Whitty said at today’s Covid-19 press conference that Britons should be prepared for some form of social [...]
Fuel prices knock UK inflation rate down to 1.5 per cent in March April 22, 2020 The UK inflation rate fell 0.2 per cent in March to 1.5 per cent, as coronavirus restrictions hit fuel prices. A drop in the price of fuel and clothing resulted in the largest downward contribution to the change in the UK inflation rate between February and March. The rate marks eight consecutive months below the [...]
Heineken cuts costs as beer sales slide 14 per cent April 22, 2020 Heineken has reported a 14 per cent drop in beer sales in March, and predicts the situation will worsen in the months to come. The brewer has suffered sharp declines in all regions as coronavirus restrictions close pubs and restaurants. In South Africa Heineken was forced to shut down production entirely. With pubs closed, Heineken [...]
The City View podcast from City A.M., with David Buik April 22, 2020 In this episode Christian is joined by legendary City commentator and market analyst, David Buik. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS David is one of the best known and most recognisable financial commentators in the City with more than 40 years of experience behind him. His weekly emails [...]
Government issued ‘Corona Bonds’ are inevitable. Could blockchain provide the answer to efficiency and transparency of their issue? April 21, 2020 Price Watch The crypto market has had a positive week with the total market cap once again heading north of the US$200bn mark and at the time of writing, Bitcoin (BTC) was trading at US$7,050.62 / GB£5,685.18; Ethereum (ETH) is at US$179.39 / GB£144.70; Ripple (XRP) is at US$0.1894 / GB£0.1520; Binance (BNB) is at [...]
The City View podcast: M Restaurants CEO Martin Williams on cooking for the NHS April 21, 2020 In this episode, Christian is joined by the CEO of Gaucho and M Restaurants, Martin Williams. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Martin is one of the country’s best known restaurateurs having launched his high-end M Restaurants in London before bringing the Gaucho empire into the fold. He talks [...]