Langton Capital – 2026-08-20 – DGE, Meta, Delivery, Deposit Return Scheme, Gen Z, food inflation & other:
DGE, Meta, Delivery, Deposit Return Scheme, Gen Z, food inflation & other:A DAY IN THE LIFE: Many if not most actions have consequences and many of them are unforeseen. The government, for example, is suggesting that it will protect pubs by preventing their sale for alternative use. This could and probably will achieve the aim of keeping more pubs as pubs but, as the alternative use of the asset has been restricted, it should reduce capital values. And in a world in which many pubcos are indebted and the banks are not indifferent to the carrying values of the assets against which their loans are secured, this is not without consequence. Similarly, as York City Council now charges £18.00 to park for four hours, £22.10 for five at the weekend in order, presumably, to encourage people to use public transport and reduce congestion, it runs the risk of doing neither. Indeed, with the parking at those kind of levels and with the buses at three quid a pop each way, it can kill off the idea of ‘popping into town’ entirely. Alternatively, it pays to drive your family into town and then drive home again. You can pop to B&Q or sit in the garden and then drive in later to pick them up because owning the car is a sunk cost and the petrol for the four single trips costs about £1.75. This will clog up the streets, discharge fumes into the atmosphere and annoy all concerned. Anyway, with the steam rising at just the very thought of the above, let’s move quickly 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: Delivery & takeaway: The latest NIQ Hospitality at Home Tracker reports that Britain’s top restaurant groups recorded fractional growth of 0.3% in delivery and takeaway sales in July. It notes that this is ‘the Tracker’s lowest figure since February, and the first sub-inflation growth since April.’ NIQ reports that ‘sales were softened by successive heatwaves in many parts of Britain in July, which led many consumers to step out of home to enjoy the sunshine.’ It would appear that this headwind overwhelmed what benefits may have flowed from the World Cup… • 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. Deposit Return Scheme: SIBA has called for the introduction of the deposit scheme to be delayed for at least a year because a ‘shocking lack of details’ has left them unprepared. SIBA says that the system could melt down ‘because of Wales’s failure to appoint an administrator or provide guidance on how their separate glass scheme would operate…’ • 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. Gen Z: YouGov has undertaken a survey into Gen Z consumers’ attitudes towards eating out saying that 69% of Gen Z adults say eating out is a treat reserved for special moments and that 53% choose fast food restaurants. Not surprisingly, perhaps, fast food is the most popular restaurant type among Gen Z consumers… • 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: The latest Buchler Phillips Hospitality Index reveals that hospitality insolvencies rose 10.2% in Q2 of 2026 compared to Q1, reports the MCA… • 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. Eating out participation. The MCA reports Lumina Intelligence data suggesting that eating out market participation fell by 6.2ppts, to 38.4%, in the 13 weeks to 28 June 2026, as consumers continued to be squeezed by the increasing cost of living… • 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. Inflation. Food cost inflation fell in July leading the BRC to suggest that supermarkets are helping to protect their customers from the full impact of rising prices globally… • 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. Cheap eggs, salmonella: One person is reported to have died with hundreds taken ill as a result of an outbreak of salmonella related to eggs. Some 207 cases have been reported with 199 of those in England. Various reports have seemed to clear supermarket-bought eggs and attributed the outbreak to eggs bought in bulk for use in the hospitality industry. COMPANY NEWS: Diageo. The analysis of Diageo’s Report and Accounts continues with observers noting that, should he hit all targets set, CEO Sir Dave Lewis could make as much as £20m in the year to June 2027. The MCA reports that Gail’s has launched on Uber Eats, with the rapid delivery partnership set to roll out to all stores in the coming weeks. Restaurant Online reports that Little Caesars has quietly closed its only operating UK site in Greenford, west London, leaving its future plans in the UK in doubt. HOLIDAYS & LEISURE TRAVEL: Accountant RSM has produced its latest UK Hotels Tracker saying that ‘hoteliers were able to hike room rates in June as demand held strong, helped by the good weather, but profit margins stood still.’ It notes that ADR rose by 8% in London and it rose by 6% in the rest of the UK. REVPAR in London rose by 4.6% and in the provinces it was up by 5.2% suggesting that, in both cases, occupancy slipped a little… • 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. Inbound tourism. Liverpool City’s visitor economy is reported to have generated some £6.8bn in revenue in 2025 due to strong growth in visitor numbers and tourism spending…. • 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 CMA is to look into the pricing practices of Trainline and Virgin Atlantic as it investigates concerns that customers were not shown the total upfront price when buying tickets. Dutch aparthotel brand The July is to welcome guests to its first site in Ireland, on Dublin’s Capel Street, on 15 October. Uber Technologies has announced that it will team up with Verne and Pony AI Inc to launch autonomous rides on the Uber app in Zagreb. This is the first instance of autonomous vehicles being used in Europe. OTHER LEISURE: Meta court case. The California court case that sees 29 US states allege that Meta’s products have harmed children has been told that Meta has taken a ‘don’t ask, don’t tell’ strategy whereby it could ignore news that impacted its business model adversely, according to a whistleblower who testified against the company… • 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. Sky News reports that cinemas are considering a ban on Meta AI glasses amid piracy concerns. Industry trade body the UK Cinema Association suggests that the glasses could be used to tape films or parts thereof for illegal resale. The Guardian reports that the Jeff Bezos consortium could be the majority shareholder in Liverpool Football Club within a year. The consortium, 1892 Holdings, has first refusal to buy shares should Fenway Sports Group decide to sell. FINANCE & MARKETS: Eurostat yesterday reported that the rate of CPI across the Eurozone had risen to 2.9% in the year to July, up from 2.8% in the year to June. US President Donald Trump has said he will countries that help or do business with Iran will face ‘Tremendous Economic Consequences’. Sterling mixed at €1.1655 and $1.3605. Oil little-changed at $91.67. UK 10 year gilt yield down 3 basis points at 5.04%. Equity markets mostly better yesterday & London set to open around 5 points higher as at 6.30am. 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