Premier Inn owner Whitbread taps investors for £1bn May 21, 2020 Premier Inn owner Whitbread will tap investors for £1bn to help it weather the coronavirus crisis while its hotels and restaurants are closed. Whitbread, which also owns Beefeater and pub chain Brewers Fayre, said the rights issue would help strengthen its balance sheet as the firm expects £80m of cash outflows a month while its [...]
Pizza Express to reopen 13 London restaurants for delivery May 19, 2020 Casual dining chain Pizza Express will reopen 13 of its London sites for delivery from next week. The Italian restaurant chain is preparing to reopen sites across the capital including in Balham, Fulham and Notting Hill where it has typically seen high customer demand. Pizza Express will launch with a “slightly edited” menu and with [...]
Rishi Sunak warns swift economic recovery ‘not obvious’ May 19, 2020 Chancellor Rishi Sunak has poured cold water on hopes that the UK economy will make a rapid recovery from the sharp economic downturn caused by Covid-19. Speaking in front of the Lords economic committee today, Sunak warned it was “not obvious that there will be an immediate bounce back”. “It takes time to get back [...]
FTSE 100 breaks 6,000 barrier as vaccine hopes and Fed pledge boost markets May 18, 2020 The FTSE 100 broke through the 6,000-point milestone in a positive start to the week’s trading today, buoyed by hopes of a vaccine and more Federal Reserve stimulus. Easing lockdowns and lower infection rates in Europe infection hotspots Italy, the UK and Spain also boosted London’s blue-chip index. The FTSE 100 closed 4.5 per cent [...]
Just Eat slams watchdog’s approval of Amazon’s £442m investment in Deliveroo May 18, 2020 Just Eat has slammed the competition watchdog’s “U-turn” decision to give the go-ahead to Amazon’s £442m investment in Deliveroo during the coronavirus crisis. The delivery platform, which was bought by Dutch firm Takeaway.com earlier this year, said it was “concerned by the very sudden U-turn in the Competition and Market Authority’s decision making”. The CMA [...]
London bar group Enhanced Hospitality claims 650 jobs at risk over insurer’s refusal to pay May 15, 2020 London bar and restaurant chain Enhanced Hospitality has launched legal action against Allianz, claiming that its failure to pay out under business interruption insurance has put 650 jobs at risk. Enhanced Hospitality, which owns Camden live music venue Dingwalls and Soho private members club Blacks, has hired law firm Field Fisher to pursue a claim [...]
Domino’s slams Amazon’s £442m investment in Deliveroo May 14, 2020 Pizza takeaway chain Domino’s has slammed a watchdog’s decision to give the go-ahead to Amazon’s £442m investment in Deliveroo, saying the decision will harm competition and consumers. The Competition and Markets Authority (CMA) provisionally cleared the investment in April over concerns that Deliveroo could collapse without extra financial backing due restaurant closures during the coronavirus [...]
Young’s pub chain to secure extra £100m financing to survive coronavirus crisis May 13, 2020 Pub chain Young’s said it is in the process of securing an additional £100m of financial headroom to help sustain the business throughout the coronavirus crisis. The company said it has issued paper with a value of £30m and a maturity date of 13 May 2021 under the government’s Covid Corporate Financing Facility. It is [...]
The City View, from City A.M., with Johnny Hornby May 13, 2020 In this episode Christian is joined by Johnny Hornby, one of the most influential men in advertising – chairman and CEO of The&Partnership, the largest independent ad agency in Europe. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Johnny sets out why he believes companies must continue to advertise and [...]
Deliveroo launches in-app fundraising tool for free NHS meals May 12, 2020 Deliveroo today announced the launch of a new in-app fundraising tool allowing users to donate meals to NHS workers. From this week customers will be able to either round up their bill to the nearest pound or add an additional tip at checkout on the Deliveroo app. These funds will go towards the cost of [...]