Budget could destroy seventh-generation pub giant, warns boss November 18, 2024 The changes announced in the Budget represent an ‘existential threat’ to the future of a seventh-generation pub and brewing giant, its owner has warned. William Lees-Jones, who owns and runs Manchester-based JW Lees, which has produced real ale since 1828, has warned he is now “facing the very real prospect that we will never be able to [...]
Non-doms: South Africa’s richest woman is fighting to stay in the UK November 18, 2024 When it comes to leaving countries in a hurry, Magda Wierzycka has plenty of experience. At just 12 years old, the South African entrepreneur and her parents fled their native Poland under the the cover of night, becoming refugees after its communist government declared martial law. Ending up in South Africa – via an Austrian [...]
UK inflation set to jump above target in headache for Rachel Reeves November 18, 2024 UK inflation is expected to have surged above the Bank of England's two per cent target in October, bolstering a cautious approach to cutting interest rates in the months ahead.
Labour’s assault on the private sector will come back to haunt them November 18, 2024 The weekend’s papers groaned under the weight of business leaders’ concerns and complaints about the Labour’s government’s recent Budget and wider policy agenda. “They don’t understand business” ran an FT article, drawing on a host of quotes from alarmed chief executives. “Honeymoon’s over for business chiefs…” was the warning in a similar Sunday Times article. [...]
Playtime’s over? Reeves’s tax raid threatens children’s play centres November 17, 2024 The UK’s indoor play industry has warned it faces a “severe financial crisis” following the Chancellor’s multi-billion pound Budget tax raid. The Association of Indoor Play, which represents 1,100 firms including laser parks, leisure centres and “baby sensory” companies, said Rachel Reeves’s fiscal plans threatened “the very core of our industry” and placed many indoor [...]
Budget tax hike could destroy 100,000 jobs, Deutsche Bank estimates November 15, 2024 The hike to employers' national insurance in last month's Budget could end up costing the economy over 100,000 jobs, according to research from Deutsche Bank.
How Arla Foods boss went from selling cigarettes to Lurpak and Cravendale November 15, 2024 A globe-trotting career that began selling cigarettes at British American Tobacco and has led to heading up the UK arm of dairy giant Arla Foods is maybe not what Bas Padberg could have predicted when he started out in the early 1990s. The managing director of the group behind Lurpak, Cravendale, Skyr and B.O.B milk [...]
Firms blame Budget uncertainty as economy slows sharply in third quarter November 15, 2024 The UK grew at a slower pace than expected in the third quarter, according to new figures, with business groups pointing to the impact of uncertainty ahead of last month’s Budget. New figures from the Office for National Statistics (ONS) showed that the economy grew 0.1 per cent in the third quarter, after contracting 0.1 [...]
Which FTSE 100 companies are most exposed to Donald Trump? November 14, 2024 The FTSE 100 has dropped by more than one per cent following the election of Donald Trump as US president, hitting a three-month low earlier this week. Meanwhile, the S&P 500 has been soaring, leading to a clear divergence between the two indexes. While not all of the poor performance of the FTSE 100 can [...]
London pubs giant Young’s issues Budget warning after £11m costs hike November 14, 2024 Pub giant Young’s, which has locations across London and the South East, has insisted it has no plans to increase the price of drinks despite the Budget adding around £11m in annual costs. The listed group said it was instead focusing on increasing efficiency, better use of technology and internal investment in order to deal [...]