Barclaycard data, jobs, politics & pubs, Pat Val, McDonald’s & other:

A DAY IN THE LIFE:

I find slang quite interesting.

I mean we could be here all day but we’ll keep it short and suggest that it’s doubly interesting when we consider that we might be witty when using a nationality as a part of a phrase but then feign upset when we find that they say the same thing about us.

When we say ‘to take French leave’, for example, meaning to run away, it’s worth noting that the French say that, when you skedaddle, you’ve ‘left like the English’.

Specifically, il a parti comme les anglais or, if you want to suggest somebody’s crept away on the quiet, it would be Il / elle a filé à l’anglaise,

And a French letter is a Capote Anglaise – or so I’m told.

An English cloak or some such and there are several others, and that’s before you get around to referring to people by what they eat. Because, whether it’s frogs or roast beef or cabbage or whatever it might be, it seems that that’s quite a common trait, too.

Anyway, we’re all friends now so, in order that remain the case, let’s move on to the news:

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PUBS & RESTAURANTS:

Barclaycard spending report:

Barclaycard has produced spending data for January saying that ‘consumer card spending rose by a sub-inflation 0.8% year-on-year in January.’ This is materially negative in real terms. But at least it is positive in nominal terms as December was down 1.7% and November was down by 1.1%. Re consumer trends, it says that ‘essential spend fell 1.1%, marking six months of decline, but discretionary spending grew 1.6%, led by the strong performance of online retail over the January sales period.’

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Jobs market:

Tesco has warned that the UK is ‘sleepwalking into a quiet epidemic’ of joblessness. UK boss, Ashwin Prasad, said that he believed fewer people were in work than would be appropriate and that taxpayers were spending ‘an ever increasing proportion of our national income on out-of-work benefits….

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Politics & Pubs:

The Daily Mail reports that ‘the Tories have accused Reform UK of ‘fantasy numbers’ after leading publicans swung behind Nigel Farage’s plans to save British pubs this week.’ It says that the promises ‘won the backing of two of Britain’s biggest pub chains – Fuller’s and JD Wetherspoon’ but quotes Shadow Chancellor Sir Mel Stride as saying these were just ‘more fantasy numbers from Reform.’ Fuller’s CEO, Simon Emeny, has since said that ‘we champion policies that support our UK pub sector. We do not support a specific UK political party….’

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Other news:

Lumina Intelligence reports that eating out volumes fell in the last quarter with market penetration said to be down by 1 percentage point in the 13 weeks to 28 December 2025.

After farmers blamed them for a drop in the demand for spuds, the FT has suggested that weight-loss jabs have helped to push sugar price to five-year low

French wine and spirits exports fell by 3% in volume in 2025 reports the Federation des Exportateurs de Vins & Spiritueux. In money terms, exports dipped by 8% in value to a five-year low of €14.3bn.

COMPANY NEWS:

Just weeks before long-awaited Patisserie Valerie fraud trial due to start in Southwark Crown Court, the date has been pushed back to 4 January 2028. This effectively means a 10 year gap between the alleged crimes and the collapse of the company and the subsequent trial. All four people charged have pleaded not guilty.

Innis & Gunn founder Dougal Sharp has called on the government to stop treating the pub industry as a cash cow. He says ‘in my four decades in brewing and pubs, I’ve never known it to be tougher. Hundreds of pubs are being forced to close every year across the UK, taking thousands of jobs with them….’

McDonald’s reported Q4 numbers yesterday, ahead of Wall Street’s expectations. The company said that it still expects the year ahead to remain difficult but the focus on cheaper meals has led to higher foot traffic at restaurants. The company CEO Chris Kempczinski says ‘as I’ve said before, and I will say again, McDonald’s is not going to get beat on value and affordability.’ He told an earnings call that ‘it’s in our DNA, and we remain agile to respond as appropriate to a dynamic, competitive landscape.’ The group reported revenue of $7.01 billion during the fourth quarter, up 10% year-over-year. It said that LFL sales 5.7% globally, with a 6.8% gain in the U.S. Adjusted earnings per share grew to $3.12 from $2.83.

AB InBev has reported full year and Q4 numbers to end-December saying that revenue rose by 2.5% in the quarter to by 2.0% in the full year. The full year numbers was $15.6bn. Full year volumes were down by 2.3% with Q4 down by a lesser 1.5%. Normalised EBITDA for the year was up 4.9% and up by 2.3% in Q4. Full year EBITDA was $5.5bn. EPS using constant currencies was up by 2.1% in Q4 and up by 9.4% in the year as a whole…

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Neos Hospitality is reported to have paid £10m for the Revel Collective’s bars business, according to documents now available, and the Peach Pubs business was sold to Coral Pub Company for £6.5m….

• Secured creditors were owed £28m at the time of collapse, implying that no funds will be available for unsecured creditors or for shareholders.

Restaurant chain Benugo is reported to have entered into a partnership with John Lewis to revamp 32 of its in-store restaurants….

OakNorth reports that it has provided £7.5m loan to support the expansion of Royal Elizabeth Yard for purpose-built whisky maturation facilities near South Queensferry.

HOLIDAYS & LEISURE TRAVEL:

UKH has called on the chancellor to scrap plans for a Visitor Levy in England saying that ‘more than 200 signatories from leading accommodation providers including Butlin’s, Haven, Hilton, IHG Hotels & Resorts, Merlin Entertainments, Parkdean Resorts, Travelodge and Whitbread warn that the proposed holiday tax will “hit families hardest, put jobs at risk and drain money from local businesses and communities”’….

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Edinburgh Rocco Forte hotel The Balmoral reports that it has once again been awarded a Forbes Five-Star rating, ‘reaffirming its position among the world’s finest luxury hotels. Notably, it remains the only hotel in Edinburgh and one of just two in Scotland to hold this prestigious accolade.’

OTHER LEISURE:

The Times writes that activist investment firm, Ancora Holdings, has taken a $200 million stake in Warner Bros Discovery and urged the Hollywood giant to walk away from its ‘inferior’ $83 billion deal with Netflix.

Online addiction. The BBC reports that the head of Instagram has defended his platform against claims it caused mental health damage to minors, arguing in a California court that even seemingly excessive use of social media does not equal an addiction….

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Frog Bikes, reported to be favoured by Prince Louis, has made a court application to hire administrators.

FINANCE & MARKETS:

The ONS has this morning reported that UK real GDP is estimated to have increased by 0.1% in Quarter 4 (Oct to Dec) 2025, following a 0.1% increase in the previous quarter….

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Chancellor Rachel Reeves called for a closer relationship with the EU, saying it is the ‘biggest prize’ for UK economic growth.

The Royal Institution of Chartered Surveyors has said that there are early signs of the UK domestic housing market having ‘turned a corner’. It says that only a net balance of 15% of professionals surveyed reported a fall in new buyer inquiries, rather than a rise, in January. Whilst still negative, this is better than the 21% who said the same thing in December and 29% who saw this in November.

Sterling mixed at $1.3617 and €1.1485. Oil up at $69.57. UK 10 year gilt yield up 4 basis points at 4.55%. World markets mixed yesterday but London set to open around 42 points higher as at 6.30am.

The US Department of Labour reported yesterday that the US economy added 130,000 jobs in January, well ahead of estimates. The unemployment rate fell to 4.3%.

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