Langton Capital – 2023-02-21 – Confidence, labour, energy, Time Out, IHG, gambling, supply issues etc.:
Confidence, labour, energy, Time Out, IHG, gambling, supply issues etc.:A DAY IN THE LIFE: Back in London after a week away and, as always, the pavements can be a bit of a challenge. Firstly, there are the phone zombies. They’re irritating in that they seem to walk without getting anywhere and, if they’re in front of you, that’s a bit of a drag. However, in the scale of things, they’re often only really dangerous to themselves whilst secondly, the crazy delivery electric-bike riders who seem to think that the faster they cycle on the pavements, the more likely they are to have a clear path, can be positively dangerous. Indeed, they make you wish you were carrying a Laurel and Hardyesque plank of wood or a backpack stuffed full of tins of beans that could be used to take them out but, whilst that might be applauded by fellow pedestrians and the local dentists, it would likely be frowned upon the powers that be and isn’t really a solution to the problem. Not an acceptable one, anyway. On to the news: LANGTON EMAIL: The Free Email is now written in short form. Extended versions of many stories (after the ellipses) are in the Premium Email. Reply to this email if you would like to upgrade. Prices for the Premium at time of writing are £345 for one subscription, £595 for multiple, both plus VAT. Or sign up for easy in, easy out monthly option HERE https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=87YUG2Z5W7PSN PUBS & RESTAURANTS: Hospitality business confidence: CGA by NielsenIQ and Fourth’s 2023 Business Leaders’ Survey shows that 47% of managed hospitality group leaders feel confident about prospects for their business over the next 12 months, up from 29% three months ago… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Responding to the survey, UKH CEO Kate Nicholls comments ‘the optimistic attitude on show from leaders in hospitality demonstrates the resilience and positivity of our sector, even in the face of enormous challenges.’ She says further support is needed… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Re general confidence, a poll commissioned by Barclays for its SME Barometer has suggested that the bosses of small companies are becoming more optimistic about the outlook for their companies… Competition for labour: Asda has announced a 10% pay increase to £11.11 per hour from July, benefitting more than 115,000 workers across its 633 stores. This follows an 8% pay increase for hourly-paid retail roles during 2022. In addition, the BBC reports ‘Britain’s biggest grocer Tesco has agreed to increase its workers’ wages by 7%, marking their third pay rise in just 10 months….’ Energy costs (to the consumer): Cornwall Insights reports that households could be paying around £500 a year more for their energy post 1 April once energy cap moves and changes in the support provided by government are taken into account… Other news: Springboard reports that footfall in UK retail destinations was boosted last week by the school half term holiday. The MA reports that Ali Turnham of Make Associates estimates the UK’s night time economy to now be worth £79bn, a sharp fall from its £116bn pre-pandemic valuation. NTIA CEO Michael Kill added that some statistics suggest a 13% contraction of independent SMEs since the beginning of the pandemic. Supply issues. Tomatoes are reported to be short supply due to bad weather in Europe and Africa. The UK imports from Morocco and Spain… COMPANY NEWS: Time Out Group has confirmed that it has scrapped plans to open a London Time Out Market in Spitalfields. This follows a 6yr planning battle… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. The Times reports that Mexican fast-food chain Zambrero, which is ‘owned by an entrepreneur doctor has received £143 million in equity financing to open more restaurants in Britain and Ireland…’ Heineken reports revenue up 19% excluding acquisitions to €34.6bn, but warns that margin pressure will result in more price increases in 2023… HOLIDAYS & LEISURE TRAVEL: Intercontinental Hotel Group has reported Q4 and full year numbers to end-December, saying that revenue for the full year rose by 33% to $1.84bn with underlying revenue up by 39%. The company says that operating profit was up by 55% at $828m with adjusted EPS up 92% at 282.3c. IHG says net debt… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. A poll by travel money firm eurochange has found that 96% of people plan to travel overseas in the next year with the remaining minority intending to at some stage before 2025. In order to help with costs, 40% said they are considering self-catering, with 21% opting for all inclusive holidays. Fattal Group has expanded into the UK luxury hotel market with its acquisition of the 159-year-old Grand Hotel in Brighton… OTHER LEISURE: The BBC reports that it expects gambling regulations to be tightened. It says ‘intense lobbying behind the scenes has gone on in recent months, to shape what will be the first significant piece of legislation on gambling in nearly 20 years and since the invention of smartphones…’ FINANCE & MARKETS: Global Entrepreneurship Monitor’s (GEM) NECI rankings put the UK in 25th place out of 51 countries on the quality of entrepreneurship ecosystem economies. The UK ranked 18th last year, meaning it has fallen 7 places as a result of Brexit and other political & economic disruption… • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. Rightmove reports that house prices increased by just £14 MoM in February, as prices remained flat despite high inflation. Figures from the country’s statistics agency suggest that the Russian economy shrank by only 2.1% last year. There had been suggestions of a fall of up to 12%. Sterling mixed at $1.2029 and €1.1268. Oil lower at $83.05. UK 10yr gilt yield up 19bps at 3.49%. World markets mixed yesterday. London set to open down around 9pts. RETAIL WITH NICK BUBB: • See premium. Reply for sample or to upgrade. Single £345, multiple £595. Limited time offer: PayPal monthly £25 + VAT. Easy in, easy out. |
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