Retailers slash ties with unethical suppliers to tune of £7.1bn in cancelled contracts February 10, 2022 Retailers severed ties with suppliers who did not meet ethical standards to the tune of £7.1bn in cancelled contracts last year. Research published today from Barclays Corporate Banking has highlighted that one in five UK retailers distanced themselves from suppliers who did not meet sustainability or ethics standards. Of those who did slash ties, an [...]
London drives hotel investment as confidence in sector returns in absence of Covid restrictions February 10, 2022 Some £4bn was pumped into the UK hotel market last year, as the sector eyes the easing of Covid travel restrictions. Investors continued to boost the country’s hotels despite Covid uncertainties, thanks to an improvement in the visibility for future trading, according to research from property adviser Knight Frank. Hotel transaction volumes in the capital [...]
Gym firm backed by Rishi Sunak’s wife to call in administrators February 10, 2022 Administrators are to be called in for the gym chain backed by Rishi Sunak’s wife. Digme Fitness was hammered by Covid measures, which saw gym goers turn away from the business’s London sites. Digme Fitness, which was founded by a former City lawyer, has eight gyms, including those dotted around the Square Mile, including near [...]
Coca-Cola Co revenue exceeds estimations after soft drink price hikes February 10, 2022 Beverage giant Coca-Cola Co’s quarterly revenue has surpassed estimates, thanks to higher prices for soft drinks. The soft drink maker also credited the easing of Covid restrictions as theatres and restaurants reopened, boosting sales. It said adjusted revenue hit $9.47bn in the fourth quarter ended 31 December, from $8.60bn a year earlier. Analysts had expected [...]
Neat Burger eyes further sites ahead of Canary Wharf opening February 10, 2022 Neat Burger is readying a Canary Wharf store after opening a flagship site in Bishopsgate last month. The plant-based group will open its site in the financial district on 16 February, as the chain hopes to entice office workers looking to make healthy choices. The brand has seen delivery orders in the Square Mile and [...]
Valentine’s Day: Most Brits plan to spoil their better half with a card, sex, dinner, flowers or a takeaway February 10, 2022 Following last year’s Valentine’s Day lockdown, most lovebirds are in the mood to celebrate this year, with more than half planning something special. In fact, with the very recent lifting of all Covid restrictions in the UK, over three-quarters plan to celebrate the day like they “usually would” (versus 23 per cent) despite lingering safety [...]
Exclusive: Majority of hospitality businesses in UK on brink of collapse February 10, 2022 Covid-19 has pushed the majority of UK hospitality businesses to the brink of closure, according to new research shared exclusively with City PM today. More than three fifths (63 per cent) have experienced a decline in demand for their goods or services since the beginning of the pandemic, while 67 per cent have seen their [...]
Unilever rules out any major acquisitions this year after failed £50bn GlaxoSmithKline deal February 10, 2022 Unilever said this morning the consumer giant saw a 4.5 per cent jump in sales for the past year as it was boosted by higher prices. The company, which makes products ranging from Marmite to Ben & Jerrys ice cream, said this was its fastest growth in nine years, driven by a 2.9 per cent [...]
‘Outdated recruitment practices’ exclude job seekers with disability, criminal record or older workers February 10, 2022 Outdated recruitment practices should be addressed to tap into more diverse pools of talent, including those who are disabled, have prior criminal convictions and younger and older workers, according to an industry group. The call to action issued by Business in the Community (BITC) comes as analysis shows that there are 3.1m people in the [...]
Disney revenues surge as guest pour back into theme parks and cruises February 9, 2022 Disney’s US parks and resorts roared back to life with record revenues in the first quarter of the year as overall revenues for the group surged ahead of analysts’ expectation to hit $21.82bn.
