Wetherspoons slams government for ‘behaving like Monty Python’s Dennis Moore’ over VAT rates July 7, 2021 Wetherspoons has hit out at the government for what is believes are unfair VAT rates on hospitality businesses, which could make the sector less competitive post-Covid. The pub chain has accused the government of “unfairness” and of ‘robbing the poor to help the rich’ by levying a higher VAT rate on food bought in pub [...]
Euro 2020: Over 9m pints expected to be sold in lead up to England’s semi-final July 7, 2021 Football fans are predicted to buy 6.8m pints during England’s Euro 2020 semi-final against Denmark tonight, with 9.7m expected to be sold throughout the day overall. The British Beer and Pub Association (BBPA) said it expects today’s game to draw more crowds into pubs than England’s previous quarter-final match against Ukraine. Pint half empty While [...]
Greensill Covid loan accreditation in line with ‘streamlined’ approval process July 7, 2021 The decision to grant collapsed Greensill Capital the ability to hand out Covid loans was in line with the approved accreditation process, but a stricter set of criteria could have identified the firm’s issues, a new report has found. The National Audit Office (NAO) also said that the British Business Bank (BBB), which administers the [...]
US lobby groups gear up to fight Biden corporate tax hikes July 6, 2021 US business lobbying groups are preparing to stop new corporate tax hikes in a spending bill linked to the bipartisan $1.2tr (£870bn) infrastructure deal. As reported by Reuters, the US Chamber of Commerce, the National Association of Manufacturers, the National Retail Federation and other wealthy lobby groups plan to sway a handful of Democrats against [...]
Mother Nature likes Bitcoin and the Metaverse July 6, 2021 The Metaverse turns human beings into digital avatars on its landscape, explains Crypto AM columnist Dr Chris Kacher.
PMI: US services industry extends resurgence into June July 6, 2021 The US services industry extended its resurgence from the troughs of the Covid pandemic into June, according to a closely watched business survey released today. The IHS Markit US Services PMI reached 64.6 in June, the third highest since the survey began and only behind May and April’s readings of this year. A reading above [...]
High streets may never recover to pre-pandemic levels, minister warns July 6, 2021 The number of shoppers on the high street may never again hit pre-Covid levels, as a combination of working from home and shopping online could permanently change consumer habits. Speaking to MPs on the Communities Select Committee, Luke Hall, minister for regional growth and local government, suggested a full recovery for the high street could [...]
Freedom Day cannot be tainted by ifs and buts – the entertainment sector won’t survive further restrictions July 6, 2021 It is absolutely right we are finally reopening fully on July 19. Boris Johnson’s announcement last night that pubs, nightclubs, and events would be freed of Covid restrictions should be a moment to rejoice. There are many in the industry, however, who are wary of the threat of further closures. Hospitality has suffered enormously with [...]
KKR sets up dedicated team for snapping up UK companies July 6, 2021 KKR will set up a team of dealmakers who will specifically target more UK takeover deals, as the private equity “raid” on British companies reaches record highs. The private equity giant has announced it will expand its global operations to include a new team of five British dealmakers who will focus on snapping up companies [...]
UK construction output growth surges to two decade high July 6, 2021 UK construction output growth reached its highest level for over two decades, according to a closely watched business survey released today. The latest IHS Markit/CIPS UK construction PMI for June was 66.3, up from 64.2 in May, the strongest rate of output growth for exactly 24 years. Sharp rises in business activity across the three [...]