Economy, interest rates, transport, EasyJet, Safestay, JDW & other:

A DAY IN THE LIFE:

Speech, grammar and language are wonderful, aren’t they?

Most of us use all of the above every day but grammar is devilishly complicated because, although we absorb our mother tongue as infants, you just try saying ‘we would have had to have gone swimming’ in German, French or Dutch.

I mean whilst I can just about manage ‘you give apple me now please’ in a limited number of languages, I can’t be trusted to get the gender, tense or case right, my pronouns may be downright insulting and my prepositions are, well, random.

Because, whether it’s on or in or at the television comes second in my book to getting the word ‘television’ into the sentence and, if you tell me to get the seven verbs in the phrase ‘we would have had to have gone swimming’ right, get the right one in the infinitive, make one conditional and all the rest, I’d probably just have to ask you to give me an apple.

Anyway, enough of that.

Condolences to Hull Kingston Rovers. And Arsenal but, with a five-day week opening up before us, the first of quite a large number of such so, it’s time to move on to the news:

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PUBS & RESTAURANTS:

Economy:

The CBI has updated on its expectations for the wider UK economy, saying that the ‘private sector anticipates broad-based weakness over the summer.’ It says that ‘firms across the private sector expect activity to fall in the three months to August (weighted balance of minus 24%), according to the CBI’s latest Growth Indicator.’ The CBI adds that ‘companies’ expectations are broadly unchanged from April, when the report was last published, and extend a period of negative predictions for growth that began in late 2024….’

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Interest Rates

Bank of England governor Andrew Bailey has hinted that the Bank may not raise interest rates in response to the Iran war…

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Wealth effect:

This has impacted spending – both up and down – in the past and, with that in mind, interesting to see The Telegraph suggest that the property market ‘gravy train’ has come off the rails…

Other news:

Operators in Soho have complained that a society of residents who are seeking to dampen noise levels and the like could ‘destroy Soho’s reputation on the international stage….’

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Energy costs: Accountant EY reports that ‘energy affordability is in the headlines, but energy wellbeing is the real story…’

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Beef prices: The FT reports that there is an emerging ‘cattle shortage’ in the US that could push up beef prices further. It reports that, already, ‘beef prices have soared’ and it says that ‘years of drought and high input costs have driven herds to their lowest levels in more than 60 years, at a time when protein-hungry consumers have driven up demand.’

Transport costs: Motoring costs, which are seen as an essential by most people and which are certainly an essential when transporting goods, have risen sharply since the US and Israeli attacks on Iran on 28 February. The ICAEW notes that ‘the average price for petrol in the UK on 26 May 2026 was 159.6p per litre comprising wholesale costs of 63.1p (39%), retail and distribution costs of 15.6p (10%), fuel and environmental duties of 54.3p (34%), and VAT of 26.6p (17%)….’

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COMPANY NEWS:

Punch Pubs & Co has announced that it has acquired The Butchers Arms in Greens Norton. It says ‘the popular village pub will continue to be run by Manager Gus and the existing team as it transitions into the Punch family.’

JD Wetherspoon has updated on its screening of The World Cup saying that, with a small number of exceptions listed on its website, its pubs ‘will be showing the World Cup’ during which customers can enjoy ‘a selection of international drinks, many hailing from the same countries as the teams competing.’

HOLIDAYS & LEISURE TRAVEL:

EasyJet – possible bid: EasyJet notes that Castlelake is ‘in the early stages of considering a possible offer for easyJet.’ It says that it has ‘not had any discussions with, nor received any approach or proposal from Castlelake’ and says that it will aim to ‘maximise shareholder value and will consider any proposal, should one be made….’

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Safestay reports that it ‘has exchanged conditional contracts for the sale of its freehold property and hostel, Safestay Glasgow Charing Cross to an independent third-party investor for a cash consideration of £5.1 million…’

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EES. British passengers returning home from holidays in Europe have been told to arrive three hours before their departure times….

Flights to and from Portugal this week could be disrupted by a general strike in the country. Union the SNPVAC, which represents civil aviation flight personnel, is likely to join the general strike on Wednesday.

CoStar reports that the US hotel industry generated positive metrics in the week to 23 May. It says that occupancy rose by 0.8% and ADR was up by 3.7%. REVPAR was up by 4.6%.

OTHER LEISURE:

Sky News reports that PE company TPG is ‘being lined up to help finance a takeover of Evoke, the London-listed company which owns William Hill…’

The Guardian comments on Everyman Media under the title ‘What’s gone wrong at Everyman and can the luxury cinema chain regain its magic?’ An industry analyst suggests that, as the market leader in premium viewing, Everyman was and is there to be shot at…

Sky News reports that ‘Disney has accused Donald Trump’s media regulator of an ‘unlawful’ attempt to suppress free speech after it was forced to apply for early licence reviews for its eight ABC TV stations.’

Universal Music Group has rejected a takeover approach from billionaire Bill Ackman’s Pershing Square as it said it was ‘not in the best interests’ of shareholders (or the company, its artists, fans and other stakeholders.)

City AM quotes intelligence experts as suggesting that Russia and Iran could target the FIFA World Cup as a part of their ongoing anti-US actions.

FINANCE & MARKETS:

The number of house sales in the UK rose by 53% last month according to data produced by the HMRC.

Sterling up a little at $1.3455 and €1.1555. Oil a little higher over the weekend at $93.14. UK 10 year gilt yield down 1 basis point at 4.81%. World markets mostly better on Friday and into Monday but London set to open down around 24 points as at 6.30am.

RETAIL WITH NICK BUBB:

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