Pubs outraged as Selfridges and Harrods see business rates slashed Retail Rachel Reeves is facing a backlash for a cut to business rates for the likes of Selfridges and Harrods while many pubs and restaurants see a huge hike. Analysis has found that a new shake-up of business rates will cause the tax bill of luxury stores to fall, while smaller venues face double-digit increases. Harrods’ [...]
‘Maximum’ 20p increase for Spoons breakfast next year, says Tim Martin hospitality JD Wetherspoon will make sure the price of its breakfast doesn’t rise by more than 20p next year, boss Tim Martin said on Monday. The confirmation comes despite serious pressure on hospitality from tax hikes and food costs, with warnings of inflation across the sector. Speaking on LBC radio this morning, Sir Tim Martin told [...]
Shoplifting ‘epidemic’ and AI data centre demand help Mitie revenue surge Business Rising demand for shop security guards and AI data centres have helped drive a surge in sales for security and engineering services company Mitie. The FTSE 250 business, which has more than 80,000 staff, saw a 12 per cent rise in revenue from security services to £580m in the six months to end September, fueled [...]
Fuller’s boss hits out at ‘lack of clear plan’ from Chancellor amid Budget fears November 12, 2025 The boss of one of Britain’s biggest pub chains has taken aim at a “lack of clear plan” from the Chancellor as the hospitality sector braces for another round of tax rises at the forthcoming Budget. Simon Emeny, executive chair of Fuller’s, said the government needed “new ideas, new thinking” if it is to live [...]
Bank of England Live: Bailey refuses to confirm if Budget influenced rates decision November 6, 2025 Welcome back to the City AM liveblog. Andrew Bailey has refused to confirm whether the upcoming Budget and Rachel Reeves’ recent comments influenced his decision on interest rates. The Bank of England has held interest rates at four per cent in its final decision before the Autumn Budget. The Bank’s Monetary Policy Committee (MPC) voted [...]
Pub closures reach new high as hospitality braces for Budget November 6, 2025 Pubs and bars are closing at the fastest rate seen this century, fresh City AM analysis has found, as rising costs squeeze many in the hospitality sector to the point of collapse. The number of British pubs and bar businesses appointing liquidators or administrators surged to 449 in the first 10 months of the year, [...]
JD Wetherspoon ‘more cautious’ on outlook due to Budget uncertainty November 5, 2025 JD Wetherspoon has said it has become “more cautious in its outlook” as Britain’s best-known pub chain braces for the prospect of further tax hikes at the Budget later this month. The firm, which operates around 800 pubs across the UK, reported a 3.7 per cent rise in like-for-like turnover for the 14 weeks to [...]
FTSE 100 Live: Wetherspoons boss’ Budget warning; M&S takes cyber hit November 5, 2025 Good morning from the City AM liveblog team. If you need a clear sign that there is an AI bubble, look no further. American tech stocks fell sharply on Tuesday after a hedge fund manager famed for predicting the Global Financial Crisis revealed he had taken out a billion-dollar bet against some of the world’s [...]
FTSE 100 Live: Shawbrook confirms IPO; Aston Martin hit by tariffs October 6, 2025 Good morning from the City AM liveblog team. After a worryingly-long drought, the London IPO market roared back to life this morning following a shot in the arm last week. Shawbrook has kicked off the week putting the City on the front foot after confirming intentions of a float. It’s a major boost, one that [...]
JD Wetherspoon: Profit rockets as Tim Martin takes jab at tax rises October 3, 2025 JD Wetherspoon has reported another successful quarter after outperforming the wider hospitality market again, although boss Tim Martin has warned on the effects of taxing the sector too hard. The pub giant told markets this morning that like-for-like sales rose 5.1 per cent year on year, while revenue rose 4.5 per cent to £2.12bn. Profit [...]