Tube strikes, energy drinks, tariffs, Costa, Pepsi, Constellation & other:

A DAY IN THE LIFE:

Couldn’t help noticing at the weekend that the ‘seasonal’ aisles in at least one of the supermarkets we went in were stocked full of Christmas gear.

And, though I’m as keen as anyone else on ‘being prepared’, i couldn’t help thinking that you would have to buy four Advent Calendars if you were going to get stuck into them on the first day of September.

And that would leave you a miserable five or six days at the end of each month before December when you wouldn’t have any of those dinky little doors to open.

However, as the Roses, Celebrations and Quality Street tins were loaded floor to ceiling, there was no shortage of chocolate if you were so inclined.

Anyway, that is what it is. I was busily buying shorts and short-sleeved shirts ‘that will do for next year’ as the shops were virtually giving them away.

Doesn’t work so well for chocolate and perishable goods, i suppose, but let’s move on to the news:

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PUBS & RESTAURANTS:

Tube Strikes:

Unwelcome at the best of times, hospitality leaders have warned that the proposed week-long strikes in London, which are due to begin this Friday, could represent another ‘devastating’ blow to the sector…

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Other news:

The Scottish whisky industry is calling on the Chancellor to freeze spirits duty in her Autumn Budget. It says that over 1,000 jobs have been lost since the last rise and it adds that further rises will threaten investment and jobs.

Celebrity chef Heston Blumenthal, who owns the Michelin-starred Hinds Head pub in Bray, has called for the rate of VAT levied on the Hospitality industry to be cut from its existing 20% to help businesses….

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UKH has launched a new guide giving advice to businesses on how to respond to incidents in their premises.

Energy drink sales are to be restricted to over-16s only after health experts and teaching unions suggested that they can worsen obesity problems and leave younger consumers unable to concentrate…

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COMPANY NEWS:

The FT reports that TDR Capital is ‘among the investment groups exploring an acquisition of Costa Coffee from Coca-Cola…’

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The UK remains a ‘crucial market’ for burger restaurant chain Wendy’s reports the MCA….

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PepsiCo shares blipped up yesterday after the announcement that Elliott Investment Management had taken a significant stake…

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Constellation Brands yesterday reduced its full year guidance saying that it now expects organic full year net sales to fall by between 4% and 6%. It adds that EPS should be between $10.77 and $11.07…

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Partners Group, which owns the Cote restaurant chain, is reported by Sky News to be ‘exploring the option of injecting new funding into the business and retaining control after two months of talks with potential buyers.’ Cote was bought out of administration by Partners Group in the autumn of 2020 in a deal reportedly worth £55m….

Naked Wines has updated on trading ahead of its AGM being held later today saying that ‘trading to date in the current financial year, FY26, continues to be in line with the Company’s communicated FY26 Guidance….’

HOLIDAYS & LEISURE TRAVEL:

Barons Eden, the owner of a number of existing spa hotels, has purchased the Ardencote hotel and spa in Warwickshire for an undisclosed sum.

American Express GBT has announced that it has formally completed its purchase of ravel management company CWT. The deal, subject at that time to regulatory approval, was first announced some 17 months ago.

Uber in the US has announced a new partnership with Best Buy ‘that brings consumer electronics from more than 800 stores to the Uber Eats platform….’

OTHER LEISURE:

The Guardian reports that ‘children as young as 11 feel tempted to try betting after being “flooded” by celebrities and sports stars promoting it.’ The legal age at which persons are allowed to gamble is 18. A report cited, from GambleAware, suggests that regulators and policymakers should address social media accounts and influencers producing betting content on platforms such as YouTube, Instagram, TikTok and Twitch in light of the findings.

A federal judge yesterday rejected a US Justice Department effort to oblige Google to break itself up by selling its Chrome browser and Android operating system. But the company was told that it must share search data with competitors. Shares in Alphabet, Google’s owner, rose by almost 8% in extended trading.

FINANCE & MARKETS:

The price of gold has been hitting record highs, taken as a sign that some investors are concerned about rising global economic (and probably political) uncertainty.

The Resolution Foundation says that economic growth would solve a lot of the government’s spending problems…

Sterling sharply lower at $1.3367 and €1.1500. Oil higher at $68.95. UK 10 year gilt yield up to a new 27-year high at 4.80%. World markets lower yesterday but London set to open little-changed as at 6.30am.

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