Fever Tree, Vianet, Time Out, McDonald’s, jobs, VAT cut hopes & other:

A DAY IN THE LIFE:

Euphemisms can be useful but, sometimes, they’re over-used and, on occasion, downright misleading.

I mean dropping off your perch or shuffling off your mortal coil might be ‘preferable’, even if no different, to the rather starker descriptions of said event but ‘bijou’ when referring to a microscopic flat can misdirect and ‘handily-placed for the motorway / airport etc’ can have ominous connotations and ‘urban’ might imply that you don’t have to travel very far for your recreational substances.

Elsewhere, a car without suspension could be said to have a ‘solid / meaningful / instant relationship with the road’. But it also jars the bones and measures potholes in a rather direct fashion and is more likely to elicit yowls of pain or shock when encountered than it is the odd patronising tut.

And the above is not wasted on the financial community. A company is ‘considering its options’ when it is pleading with the bank and it may subsequently be ‘in discussions with shareholders’ when the banks have told it to clear off.

Anyway, AI will doubtless get involved at some point but, at the moment, the ‘explanation industry’ is still one that requires some ingenuity, tact, discretion, flexibility and wordsmithery – all of which may also be euphemisms for something else. On to the news:

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PUBS & RESTAURANTS:

UK jobs market:

KPMG and REC have produced their UK Report on Jobs for May 2026 saying that the market has softened further. They say that permanent placements fell markedly, and at their quickest rate in ten months with a ‘sharper upturn in candidate availability amid reports of redundancies.’ The report adds that temporary vacancies fell at their slowest rate in 22 months….’

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Economy:

The latest Economic Forecast from the Confederation of British Industry has revised down its expectations for UK growth, warning that geopolitical tensions in the Middle East and higher energy costs are set to weigh on households and businesses through 2027. The CBI is now estimating UK GDP growth of 1.1% in 2026 and 0.9% in 2027, down from its previous projections of 1.3% and 1.5%….

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Experiential leisure:

GXE Consulting, which focuses on the Global Experience Economy including stadia, live music, festivals and immersive leisure, has updated on UK consumer attitudes saying that the UK consumer is amongst the most willing in the world to pay for experiences. It says that the sector ‘is in robust health, worth £112bn a year across twelve sectors and reaching almost the entire population….’

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VAT cut hopes:

A number of chefs and restaurateurs have backed Labour leadership hopeful Andy Burnham after he said that he believed VAT should be cut for the hospitality industry….

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Demographics:

Former chancellor Jeremy Hunt, who acceded to the role after the debacle of the Truss government, has said that the triple lock on the state pension is now ‘an anchor drag on economic growth….’

Food costs:

City AM reports that supermarket food inflation has risen significantly for the first time this year. It says that prices are now ‘flashing an early warning sign that the surge in energy and freight costs triggered by war in Iran is reaching shelf prices in the UK….’

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Other news:

Foodservice growth. Meaningful Vision reports that UK foodservice traffic declined across most regions in Q1 2026. However, its latest data ‘shows that demand is not falling evenly across the board. Instead, footfall is shifting towards specific parts of the country, with the South West emerging as the clear regional outperformer.’

COMPANY NEWS:

Vianet has reported  full year numbers saying that revenue rose by 1.5% to £15.5m with PBT of £1.3m vs £1.1m in the last year. The company reports total dividends of 2.4p vs 1.3p in FY25…

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Time Out Group plc yesterday announced that it had ‘entered into a binding franchise agreement with Quint Digital Limited, India’s leading media-tech company, for the development and operation of Time Out Market Delhi….’

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McDonald’s is testing a voice assistant named Archy in a number of outlets in the US. Online videos show the assistant handling orders in both English and Spanish. A McDonald’s franchisee says on X ‘we are currently in five test stores, having processed over 1M transactions with about 90 percent of orders completed without human escalations. Impressive for a new test.’

City AM reports that ‘BrewDog co-founder James Watt has revealed he wants to buy back the craft beer firm he quit years ago, as he hit out at those who blame him for its collapse….’

Butcombe Group has announced that Alice Bowyer has been appointed as Managing Director of its Managed House Division.

Punch Pubs & Co has purchased The Harbour Inn in the fishing town of Amble. It says that ‘the traditional pub, which boasts beautiful sea views opposite the working harbour, will join Punch’s Leased and Tenanted estate, with the existing team continuing on their journey.’

Restructuring proposals at Las Iguanas have been approved by the High Court. The company told the court that it would enter administration if it were not allowed to restructure its business.

FEVER TREE – AGM TRADING UPDATE:

Fever Tree reports that it has ‘made a solid start to the year and remains confident of achieving full-year market expectations.’ Fever Tree says it has seen ‘new account wins, increasing distribution and momentum as we progress through the year.’ The company has ‘launched its first national US marketing campaign in April, encompassing TV, digital, e-commerce, and a nationwide sampling initiative.’ It says its ‘diversification strategy continues to gain scale’ and it has launched a new UK marketing campaign. The group sees ‘continued strong momentum in Australia, driven by our premium soft drinks’ portfolio’ and, overall, it has made ‘further share gains across key markets including the UK, Europe and the US.’ FEVR commented at its full year numbers on 24 Maryc that ‘notwithstanding the current uncertain geopolitical outlook, our expectations for 2026 remain unchanged and in line with
market expectations.’

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HOLIDAYS & LEISURE TRAVEL:

Aviation industry bosses have suggested that promises to be net zero by 2050 will likely not now be achieved. CG of IATA, Willie Walsh, says that ‘hope was fading fast’. He said that a ‘realistic timeline’ needed to be set.

OTHER LEISURE:

The government has told tech companies such as Apple and Google to block access to naked images on smartphones and other devices for under-18s.

FINANCE & MARKETS:

Sterling up slightly at $1.3360 and €1.1574. Oil down around $4 at $93.43. UK 10 year gilt yield up 3 basis points at 4.94%. World markets mixed yesterday & London set to open around 4 points better as at 6.30am.

RETAIL WITH NICK BUBB:

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