FTSE 100 index opens up led by Glencore, Anglo American, BHP Billiton and Marks and Spencer November 4, 2015 The FTSE 100 opened marginally up this morning, led higher by mining companies, as Glencore reported it was reducing the size of its net debt. The UK's top blue chip index was up 0.44 per cent at 6,411 points. Glencore, the mining giant, which has been struggling to reassure investors worried about the size of [...]
Wetherspoon’s share price tumbles as boss Tim Martin warns Living Wage costs could lower pub chain profits November 4, 2015 Wetherspoon's share price tumbled this morning after boss Tim Martin warned that rising labour costs could result in lower annual profits, with margins falling in its first quarter. The figures The pub chain grew like-for-like sales 2.4 per cent in the 13 weeks to 25 October, while total sales rose by 6.1 per cent, buoyed by the Rugby [...]
Starbucks, Costa, Caffe Nero, Wild Bean Cafe and Pret A Manger compared: Where does your morning coffee cost the most? October 12, 2015 The United Kingdom adores coffee: a cup of java can now be sought out on almost every street in London, and there is no shortage of punters. That's why coffee enthusiasts can choose from (wait for it): Starbucks, Costa, Caffe Nero, Wild Bean Cafe, Pret A Manger, and a range of smaller independent coffee shops. Read more: Starbucks lets [...]
National Living Wage: Lidl and Morrisons have boosted perception by adopting salary rises ahead of time October 7, 2015 From a reluctant starting point, British retailers are now falling over themselves to make the most of Living Wage goodwill, announcing wage rises ahead of next year's obligatory rise. Initially there was much gnashing of teeth over George Osborne's ruling that firms must pay staff above the £7.20 minimum for over-25s from April. Wetherspoon's founder [...]
Best of the Brokers for 18 September 2015 September 18, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com SERCO GROUP Berenberg thought yesterday’s £250m sale of offshore operations BPO to Blackstone was a turnaround and updated its rating from “sell” to “hold”, with a target price unchanged at 100p for public services contractor Serco. The disposal brought the company’s debt back [...]
JD Wetherspoon hits out at government’s Living Wage September 11, 2015 Pub chain JD Wetherspoon has become the most recent in a series of companies to hit out at the government’s Living Wage. In the company’s preliminary yearly results, the pub chain said the government is putting pubs under financial strain. Read more: National living wage – All businesses will end up paying it – but [...]
Bank to announce rates decision as China woes weigh – London Report September 6, 2015 THE BANK of England will be centre of attention on Thursday when it provides a simultaneous release of its monetary policy decision and minutes from its monetary policy committee (MPC) meeting. The MPC is almost certain to keep interest rates unchanged at 0.5 per cent, with worries about China and oil price declines meaning other [...]
JD Wetherspoon share price drops as founder Tim Martin attacks living wage July 15, 2015 Tim Martin, founder and chairman of 900-strong pub group JD Wetherspoon, has hit out at chancellor George Osborne’s living wage policy, claiming it could have an adverse impact on pubs. Martin warned: “The recent government announcement regarding the living wage adds considerable uncertainty to future financial projections in the pub industry.” He said: [...]
Dunelm shops at Go-Ahead for finance chief July 9, 2015 HOMEWARE group Dunelm has appointed the finance chief of transport group Go-Ahead to take up the same role as it reported better than expected fourth quarter sales. Keith Down, who joined Go-Ahead four years ago and has also held senior roles at Tesco and JD Wetherspoon, will take over in September, replacing David Stead, who [...]
Wetherspoon is holding its own in the face of the supermarket price war May 6, 2015 It may be at a “great disadvantage” to supermarkets, but JD Wetherspoon still managed to report an increase in sales. The figures In an interim management statement, the company announced like for like sales were up 1.7 per cent in the 13 weeks to 26 April, and 3.6 per cent for the financial year to [...]