Rank, Entain, GNK, WTB, Just Eat, Zero Hours, rates, GDP & other:

A DAY IN THE LIFE:

Whilst somebody said – and Wiki would have it that it wasn’t Einstein – that doing the same thing more than once and expecting a different outcome was a sign of insanity, I’ve always thought that there’s a case for checking to be sure.

I mean if the electricity only pulses through a sheep fence once every four seconds, you won’t get an accurate result every time you brush – or push someone else – against it.

And turkeys get treated well and fed every day but one.

But, when our dog insisted on drinking from every rock pool on the beach last weekend in the hope that she’d find one that wasn’t salty, I think insanity may well have played a part.

And that’s before the salt had any meaningful impact on her brain cells. However, at least at the end of the exercise, whilst she might have had unpleasant internal rumblings, she was pretty sure of the result.

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 are £395 for one subscription, £695 for multiple, £995 for very large subscribers, all plus VAT. Or sign up for easy in, easy out monthly option per subscriber HERE

https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=87YUG2Z5W7PSN

PUBS & RESTAURANTS:

Zero hour contracts:

With proposals out for consultation, the Telegraph reports that ‘Labour has admitted its plan to ban zero-hours contracts will cost businesses up to £3bn to implement.’ It notes that ‘government documents released on Wednesday show that administration costs for implementing such a scheme could rise to £2.9bn depending on who the proposals cover.’ Proposals currently up for discussion suggest that companies will have to offer contracts with a guaranteed minimum number of hours to zero-hours and low-hours workers, reports the paper…

• See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out.

Value for money:

Lumina Intelligence’s latest Quarterly Menu Tracker continues to suggest that consumers are focusing on value as menus are expanding across QSR, coffee shops and sandwich shops whilst restaurants are reducing the number of dishes on offer…

• See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out.

Business rates:

PM Andy Burnham has told the BBC that his government intends to go further on evolving the UK’s system of business rates. Whilst cautioning that money is tight, he said ‘we’ve made a move on pubs and business rates. I’m signalling going further on business rates. So there are things that we can do, and we’ll do everything that is possible for us to do. But I think everyone knows that I’m in a position with limited room for manoeuvre.’

Economic growth:

The ONS has updated on UK GDP saying that in the three months to June 2026 compared with the three months to March 2026 real GDP grew by 0.4%, following a growth of 0.6% in the three months to May 2026 (revised down from a growth of 0.7%). It says that ‘services output grew by 0.5% and production output showed no growth following a growth of 0.2% in the three months to May 2026. Construction output grew by 0.3%…

• See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out.

Other news:

Economy: Bloomberg reports that Treasury officials have briefed the PM on the UK’s growth prospects saying that, largely as a result of disruption caused by the war in the Gulf, UK growth next year could be as low as 0.3%.

Personal information. City AM reports that an IT consultant was ordered to repay £50,000 to his employer after being accused of stealing the personal details of members of London’s biggest private members’ club, Soho House.

COMPANY NEWS:

The Sun reports that Whitbread is to sell 53 of its Beefeater and Brewers Fayre sites to Queensway Inns. Whitbread confirms that it has ‘reached an agreement for the conditional sale of 53 Branded Restaurant’ and it adds that the purchaser ‘has extensive experience operating hospitality businesses across the UK and intends to operate the sites as going concerns.’

Loungers is reported to have teamed up ‘with cereal giant, Kellogg’s, to launch Summer Breakfast Clubs across England and Wales, serving up free bowls of Corn Flakes, Bran Flakes or Rice Krispies….’

• See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out.

Greene King reports that it ‘has marked the first anniversary of its business-wide innovation and efficiency programme, after completing 53 operational trials designed to improve ways of working and customer experience, and strengthen long-term business resilience and growth….’

• See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out.

Just Eat Takeaway.com has announced ‘its intention to cease operations in Bulgaria. The company intends this shutdown to focus investment on accelerating growth and building strong, sustainably profitable market positions while continuing to deliver the best possible experience for customers, partners and couriers.’

Financier Nelson Peltz is reportedly planning a bid for the US restaurant chain Wendy’s, reports the FT. It says that Peltz’s Trian Fund Management is working with other investors…

• See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out.

The BBC reports that Coughlan’s Bakery, which was part-owned by comedian Romesh Ranganathan, is to see a number of its sites set to reopen under a new name.

Punch Pubs reports that it has acquired the Joiners Arms in Morpeth and the Duke of Oxford in Weston-super-Mare.

Birmingham brewery Attic Brew Co has purchased the 56,000sq ft industrial estate on which it is based. The site houses its brewery and award-winning Taproom bar.

HOLIDAYS & LEISURE TRAVEL:

TUI shares were little-changed yesterday (down around 1%) on the group Q3 numbers. The company reported that hot weather in the UK (and across Europe) did not seem to be impacting demand with CEO Sebastian Ebel saying that the headwind appeared to be ‘very limited….’

RANK GROUP – FULL YEAR NUMBERS:

The Rank Group, which owns the Mecca Bingo chain and which operates the UK’s largest casino chain with its Grosvenor operation, has reported full year numbers to end-June. It reports that underlying LFL Net Gaming Revenue (NGR) rose by 5% to £834.1m. It says that underlying operating profit was up by 20% at £79.9m and reported PBT was £39.2m against £45.9m in the prior year. RNK reports basic earnings per share down by 22% on a reported basis to 6.4p (from 8.2p) and the dividend per share is 3.5p against 2.6p in the prior year.

• See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out.

OTHER LEISURE:

Entain, which owns the Coral, Ladbrokes and PartyPoker betting businesses, has reported H1 numbers ‘ahead of expectations with continued progress to unlock shareholder value’. The company reports that Net Gaming Revenue rose by 5%, ahead of expectations. It says that Underlying H1 EBITDA was £479m, down 2% YoY and the group loss after tax was £11.4m. The company reports that it reiterates its FY guidance of FY26 Online NGR growth of 5-7% on a constant currency basis…

• See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out.

The Intercept and Freedom of the Press Foundation has filed a lawsuit against Donald Trump’s Truth Social media platform saying that the president’s move to charge $100,000 a month for early access to his tweets was ‘extraordinary, corrupt and unconstitutional.’ Around 10 firms are now said to be paying the fee.

FINANCE & MARKETS:

For GDP numbers, set Pubs & Restaurants above.

Think Tank Verdant has suggested that repeated heat waves this year could cost the UK economy over £4bn in output.

The rate of inflation in the US fell slightly, to 3.4% in the year to July, from 3.5% in the year to June. The Bureau of Labor Statistics said that upward pressure came from housing costs whilst food prices rose at a slower rate.

The Royal Institution of Chartered Surveyors has reported that house prices in the UK fell in July on mortgage and affordability concerns. The number of housing transactions also fell. RICS economist Simon Rubinsohn says ‘the housing market remains subdued, and while that is not usual over the summer months, it is clear that the combination of geopolitics, the domestic political climate and the cost of mortgage finance are continuing to weigh on sentiment.’

Sterling little-changed at €1.1706 and $1.3494. Oil down at $88.83. UK 10 year gilt yield unchanged at 4.98%. World markets mixed yesterday & London set to open up around 28 points as at 6.30am.

RETAIL WITH NICK BUBB:

• See premium. Reply for sample or to upgrade. Single £395, multiple £695. Limited time offer: PayPal alternative monthly £25 + VAT per sub. Easy in, easy out.