The City View: US and UK rate hikes imminent May 4, 2022 Today Andy Silvester talks to City A.M.’s Economics and Markets reporter Jack Barnett. They go through UK and US rate rises, discuss the likelihood of a recession, and explain equity market slumps. Also in the news: Crossrail is only 20 days away and sales are slowing at JD Wetherspoon.
Sales slow at J D Wetherspoon as costs rocket and punters dip May 4, 2022 Sales at J D Wetherspoon dipped four per cent in the third quarter as the pub group struggles to keep pace with pre-pandemic levels.
Calories on the menu: Bosses fear new rules for restaurants will leave a sour taste April 6, 2022 Diners are being confronted with the calorie contents of meals at some restaurants under new laws that come into effect today – but could this do more harm than good? Hospitality bosses have said the changes come at the worst possible time, as the sector endeavours to recuperate pandemic losses while staring down the barrel [...]
Raising a toast: Beer sales return to pre-pandemic glory as pub goers ditch wine and spirits April 4, 2022 Beer sales have brewed a comeback with 1.1bn more pints sold last year than in 2020. Some 4.6bn litres of beer was sold in 2021, up 13 per cent on 2020. Lockdown drinkers opted for spirits, causing beer sales to plummet, but pints regained popularity when pubs reopened. Wine and spirits saw a drop of [...]
Rishi Sunak’s Spring statement today: From fuel duty cuts to tax and energy bills March 23, 2022 The time has come for the Chancellor to unveil his spring statement, with the spotlight on how he intends to deal with the cost of living crisis. Rishi Sunak is set to vow to “stand by” British families as he is expected to outline further plans to support households facing financial hardship on Wednesday, which [...]
Revenue sinks at JD Wetherspoon as boss says cost pressures ‘mitigated to an extent’ March 18, 2022 Revenue at pub chain JD Wetherspoon has taken a hit to the tune of 13.5 per cent as the firm warns of rising costs across its business. The company reported revenue of £807.4m, for the 26 weeks ended 23 January 2022, versus £933m in 2020. However, chairman Tim Martin said pressure on input costs from [...]
More than 250 hospitality bosses call for VAT freeze as diners hit by rising costs February 7, 2022 Restaurant bosses from big names including JD Wetherspoon and Greene King have signed a letter to the Chancellor calling for a VAT freeze at 12.5 per cent. In an open letter to Rishi Sunak, more than 250 hospitality businesses have called for a re-think of plans to hike the VAT rate back to 20 per [...]
Wetherspoons hits out at pub closures following ‘partygate’ scandal January 19, 2022 Wetherspo has slammed the government in a fiery trading update, criticising pub closures over the past two years.
Pints of experience: Wetherspoons opens up board to publican employees December 20, 2021 Wetherspoons has opened up its board to its publican employees, in a bid to bring real pub experience into focus. The British pub chain has hired four employees, who were working under managerial positions from across Manchester to Exeter to join the board as employee and associate employee directors. “A successful pub company depends primarily [...]
Some rationality called for amidst the drumbeat to restrictions December 14, 2021 Who would have thought that just five years after the Brexit referendum, Wetherspoon boss Tim Martin and the CBI would be back on the same side. Truly, Covid-19 has made for the strangest of bedfellows. Both have railed, reasonably, against the new Plan B restrictions which are well on their way to being passed into [...]