Better-than-expected recovery for Guinness maker Diageo despite supply chain woes September 30, 2021 Guinness maker Diageo reported this morning strong recent trading with a better-than-expected recovery in Europe despite mounting supply chain woes. Shares in the FTSE 100 listed group are up by nearly 3 per cent. The group, which also makes Gordon’s gin and Smirnoff vodka, said it was seeing a solid start to its new financial [...]
Analysis: What the fuel crisis is all about and what may happen next September 30, 2021 Despite the government urging people to stop “panic-buying” petrol and return to their normal pattern of purchasing, pumps have run dry in some forecourts. Here City PM helps you to understand what is happening and who is involved. So who are the biggest players? The UK’s biggest operator is the Motor Fuel Group. Other companies [...]
Furlough ends today: 1m Brits in limbo as thousands of firms face bankruptcy September 30, 2021 Uncertainty looms for the future of almost one million furloughed Brits as the government’s £70bn support programme ends today, after helping out millions of workers across the UK over the last 18 months. Economists have warned that although many may find work in recovering sectors such as hospitality and travel, there is also likely to [...]
112 jobs at risk at Virgin Money as it closes 31 stores across UK September 30, 2021 Virgin Money has announced plans to close 31 stores as it adapts to changing customer demand, the company said this morning. “Virgin Money regularly reviews the ways customers use its stores, as well as its online, mobile and telephone channels, so that it can adapt its services to meet changing customer demand,” the firm said. [...]
All aboard: Searches for homes near London stations soar September 30, 2021 The rush back to the office has inspired a jump in searches for homes close to London stations that give them a quick commute into the City. House hunters were keen to have speedy access to Central London, as the momentum behind the office return ramped up, according to data from RightMove, shared with CityAM. [...]
Staycations could inject over £9bn into economy September 30, 2021 A continued demand for staycations could see more than £9bn injected into the UK’s tourism economy. Barclays estimated that, should a preference for UK holidays continue at the same rate in 2022, it would add up to £9.2bn to the domestic tourism market. While many Brits will be eager to swap Cornwall for Portugal next [...]
High Court dismisses challenge by Caffè Nero landlord September 29, 2021 The High Court has dismissed a challenge from one of Caffè Nero’s landlord’s over the company’s restructuring. After Covid hammered the coffee chain’s trade, it sought approval to enter a company voluntary arrangement (CVA) with the support of more than 90 per cent of its creditors. A small number of landlords were not happy with [...]
Quiz losses deepen after pandemic store closures September 29, 2021 Fashion retailer Quiz has posted deepening losses after the pandemic deterred consumers from buying occasion wear and forced shops to shut for months. Group revenue dropped 66 per cent for the year ended 31 March 2021 , which the retailer said was down to the impact of the pandemic on trading conditions. The retailer posted [...]
Amazon offers ‘options’ to truck marshals facing pay cuts September 29, 2021 Online giant Amazon has said it is offering “a number of options” to truck marshalls who face a pay cut of almost a quarter at its delivery stations. The role involves people managing hundreds of trucks and drivers at the online retailer’s delivery stations and warehouses. Two marshals told Business Insider they were told this [...]
Return of commuters gives Upper Crust owner SSP much-needed sales boost September 29, 2021 Upper Crust owner SSP has seen a boost in sales at its travel stores but is still far below pre-pandemic levels, the company said this morning. Bosses said there was a significant improvement in the past three months as lockdown restrictions ease, but they remain around just 47 per cent of pre-pandemic levels. The company [...]
