Pressure mounts on Sunak over planned six per cent rise in corporation tax February 20, 2023 Prime minister Rishi Sunak is facing down the prospect of a rebellion over next month’s budget as renewed pressure mounts over a planned increase in corporation tax increase. Seven top Tory backbenchers and business owners including Wetherspoons boss Tim Martin have urged Sunak and chancellor Jeremy Hunt to scrap the planned six per cent rise. [...]
A Russian billionaire, the Dyson family, Gym Shark founder and Sting are among 100 of the richest Brits who paid nearly £5.2bn in tax during 2022 January 27, 2023 A Moscow-born billionaire is the UK’s top tax payer, paying more than £487m in just 12 months, according to the Sunday Times’ annual tax list. Alex Gerko, boosted the Treasury’s coffers by more than £1.3m a day or £55,639 an hour during 2023. Gerko, who became a British citizen and renounced his Russian citizenship late last [...]
FTSE 100 close: Barclays, HSBC and Easyjet shine on otherwise poor day in London January 25, 2023 London’s FTSE 100 today gave up morning gains to finish lower before stronger-than-expected retail earnings provided a balm against recession fears. The capital’s premier index fell 0.22 per cent to 7,740.34 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, slid 0.38 per cent to [...]
Wetherspoon boss Tim Martin lashes out at ‘vast disparity in VAT treatment’ between pubs and supermarket alcohol sales January 25, 2023 Wetherspoon boss Tim Martin has launched a scathing attack on the government, saying the biggest threat to pubs is the “vast disparity in tax treatment” compared to restaurants and supermarkets. The outspoken chain boss said he was “cautiously optimistic” for the financial year ahead, as the firm published its like-for-like sales in the 25 weeks [...]
FTSE 100 dragged down by strike sensitive stocks tumbling December 6, 2022 London’s FTSE 100 was dragged down today by companies that will likely suffer amid additional rail strikes over Christmas. The capital’s premier index dropped 0.61 per cent to 7,521.39 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 1.19 per cent to 19,100.08 points. [...]
Egg supply crisis: Tesco introduces buying limits as JD Wetherspoon changes menu November 22, 2022 Tesco is the latest chain to introduce limits on egg purchases owing to shortages and high costs. The supermarket told City AM it is introducing a limit of three boxes per customer to prevent shelves going empty. This comes after the British Egg Council warned the public that a the industry has been dealing with [...]
Union bosses warn of cash shortages at supermarkets as G4S workers vote to strike November 22, 2022 Some 1,200 cash and coin delivery workers employed by G4S are set to walk out, with union bosses warning of shortages at Tesco shops and JD Wetherspoon pubs. Union GMB said this would mark the first ever industrial action for G4S workers, with a strike set to begin at 3am on Monday 4 December. Some [...]
FTSE 100 plagued by string of downbeat results November 9, 2022 London’s FTSE 100 today was weighed down by investors ditching retail and leisure firms after several large players in the sector revealed they have been hit by the UK economic slowdown. The capital’s premier index edged 0.14 per cent lower to 7,296.25 points, while the domestically-focused mid-capo FTSE 250 index, which is more aligned with [...]
JD Wetherspoon sales lift as budget chain ‘one of few winners’ amid economic crunch November 9, 2022 JD Wetherspoon posted buoyant sales for the first quarter, although it said demand had softened slightly in October. Shares dropped by as much as eight per cent, after the company admitted October trading had been slightly slower than expected. Like-for-like sales were 9.6 per cent higher than the same period last year, with the pub [...]
To win over the bond market, it has to be Dishy Rishi October 23, 2022 Tim Martin is the CEO of JD Wetherspoon In selecting the next Prime Minister, MPs need to bear in mind that the terrible twins, the bond market and inflation, feeling increasingly disrespected by central bankers and politicians , are angry and emotional – and are watching their every move. The mere revelation on Friday that [...]