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Sunday newspaper round-up: Restrictions, Brexit deal, Tax

Sun, 03rd Jan 2021 21:22

(Sharecast News) - Sir Keir Starmer has urged Boris Johnson to bring in new national Covid restrictions within the next 24 hours. The Labour leader said the virus was "clearly out of control", as he insisted that it was "no good the Prime Minister hinting that further restrictions are coming into place in a week, or two or three. That delay has been the source of so many problems," he said. "So, I say bring in those restrictions now, national restrictions, within the next 24 hours." - Sunday Telegraph
Officials will this week launch urgent talks to thrash out a Brexit deal for the City by March, The Mail on Sunday can reveal. The Treasury's top Ministers and civil servants will hold meetings with City lobby groups to form a plan for selling British financial services in EU countries. John Glen, the City Minister, and Katharine Braddick, director general of financial services at the Treasury, will play key roles in drawing up a 'memorandum of understanding' with the EU. - Mail on Sunday

Britain is being urged to overhaul its tax system after a report found that official data had missed almost £800bn owned by the country's wealthiest households. The Resolution Foundation said that calculations by the Office for National Statistics (ONS) had failed to take account of about 5% of the assets and wealth in Britain. The think tank's analysis used The Sunday Times Rich List as well as ONS statistics. - Sunday Times

In these strangest of times it shouldn't come as a surprise that one of the biggest investment winners has nothing to do with real money. It is 'cryptocurrency' Bitcoin. But investment experts are divided over whether its recent surge in price can be sustained. While some, such as asset manager Ruffer, have embraced it within their investment portfolios, others fear it could be heading for a sharp fall - as happened in early 2018. - Mail on Sunday

The bosses of leisure giants including JD Wetherspoon, Marston's and the owner of Alton Towers warned this weekend of a cliff-edge for businesses in the spring as emergency Covid-19 support measures are withdrawn while the economy is still reeling from the effects of the pandemic. Business leaders said that there was an urgent need to extend the measures - such as business rates relief and the cut in VAT from 20% to 5% for hospitality, tourism and accommodation - for at least a year. - Sunday Telegraph

Beyond the horizon off the coast of North Yorkshire, a quiet revolution is emerging from the waves of the North Sea. More than 80 miles from land, hundreds of the world's most powerful wind turbines have begun reaching into the air as construction progresses on the biggest windfarm ever built. Almost 200 turbines, each almost as tall as the Eiffel tower, will soon rise above the submerged Doggerland to populate an expanse of sea as large as North Yorkshire itself. - Guardian

The pandemic has already wreaked havoc on the pub sector, with some of the UK's largest pubcos including Greene King, Mitchells and Butlers, Fuller's and Marston's axing thousands of jobs between them last year. Meanwhile, some 2,500 pubs are estimated to have closed for good across the UK as coronavirus restrictions cause cash reserves to dry up and debts to mount. With activity in the pub sector having been typified by consolidation in recent years such as Stonegate's £1.3bn purchase of Ei Group in 2019 and Greene King's takeover by Hong Kong-based CKA in the same year, experts predict the downfall of some operators will provide an opportunity for their better-placed rivals. - Sunday Telegraph
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2 Feb 2017 09:34

BUZZ-Mitchells & Butlers: Bottom of FTSE 250 after Barclays cuts PT, rating

** Pub operator Mitchells & Butlers' shares down 4.7 pct, bottom of the FTSE 250, after Barclays cuts to "underweight", slashes PT to 220P from 375P ** Barclays concerned much of lfl sales growth is being achieved by either capex or price rises ** Analysts add although the National Li

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25 Jan 2017 08:52

UPDATE 1-Restaurant Group sales fall, UK cost warning hits shares

(Adds details, context, share price fall) Jan 25 (Reuters) - Restaurant Group's sales fell last year and the owner of the Frankie & Benny's chain warned on Wednesday that a hike in Britain's minimum wage will drive costs higher in 2017. Shares in Restaurant Group, which operates more

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19 Jan 2017 06:45

Restaurants and pubs enjoy strong festive trading, Coffer Peach finds

(ShareCast News) - UK pubs and restaurants enjoyed an equal uplift in trading over the Christmas and New Year period, as a bumper six weeks for London drove a second consecutive month's improvement. Data on the largest managed pub and restaurant groups over the six weeks to January 8 found a collect

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15 Dec 2016 09:48

Pubs and restaurants bounce led by London, Coffer Peach survey finds

(ShareCast News) - London led a rebound for the eating and drinking out sector in November, with good growth in pub sales and a return to annual growth for restaurants, but it was a case of glass-half-full outside the capital. The Coffer Peach Business Tracker found November like-for-likes sales gre

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14 Dec 2016 20:59

CORRECTED-UPDATE 3-Heineken in bid battle for Punch Taverns

(Corrects to show Heineken splitting portfolio with investment partner Patron; paragraphs 1, 10, 11) * Heineken, Patron vs Alan McIntosh in $400 mln takeover * Heineken already has a pub business with good margins * Suitors have until Jan. 11 to make official bids By Marti

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7 Dec 2016 09:33

BROKER RATINGS SUMMARY: Credit Suisse Raises Rio Tinto And Cuts BHP

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1 Dec 2016 09:31

BROKER RATINGS SUMMARY: Credit Suisse Raises BP To Outperform

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30 Nov 2016 08:23

Greene King's consumer and cost worries overshadow pub profits

(ShareCast News) - First half profits at Greene King bubbled higher thanks to tasty organic growth and the first seven weeks from the acquired Spirit pubs business, but the brewer served up a side order of caution about rising consumer and cost pressures. As well as noting the "demand challenges" of

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30 Nov 2016 07:53

TOP NEWS: Greene King Says Spirit Pub Synergies Year Ahead Of Schedule

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23 Nov 2016 16:10

UK Earnings, Trading Statements Calendar - Next 7 Days

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13 Oct 2016 14:41

Thursday newspaper share tips: Marston's, Greene King, Monks

(ShareCast News) - Investors' worries about the impact which inflation will have on Marston's and Greene King are overstated and the shares are cheap, The Times's Tempus said. They are well-positioned in the market, well-funded relative to their peers and their brewing operations are proving success

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15 Sep 2016 09:27

Pubs outdo restaurants again in August, Coffer Peach data shows

(ShareCast News) - UK large pub and restaurant groups enjoyed better sales in August as Britain took advantage of better weather to eat and drink out. There was a 0.6% increase in like-for-like (LFL) sales at managed pubs, bars and restaurants, up from 0.3% last month, according to the monthly Track

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13 Sep 2016 12:50

Greene King to move Spirit pub employees away from zero-hour contracts

(ShareCast News) - UK based pub retailer and brewer Greene King has announced that it is going to move workers from its acquired Spirit pubs off zero-hour contracts, according to a report by The Guardian. The company had already moved its staff away from zero-hour contracts before acquiring Spirit i

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9 Sep 2016 16:24

Britain's FTSE sees biggest weekly decline since May

* FTSE 100 down 1.2 pct * Broad-based decline across most sectors * Banks extend post-ECB rally * Bunzl, Burberry fall after downgrades * Mid-cap pub operators in focus after results (ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets

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9 Sep 2016 11:35

UPDATE 1-Wetherspoon upbeat as Greene King delivers post-Brexit warning

(Recasts, adds Wetherspoon Chairman comment, analysts, share price reaction, context) By Rahul B Sept 9 (Reuters) - Pub operator J D Wetherspoon gave an upbeat evaluation of its post-Brexit prospects on Friday, even as a trading update from rival Greene King cast a nervous eye towards

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