LONDON, March 25 (Reuters) – Britain’s biggest sporting
goods retailer Sports Direct employs around 75 percent
of its 19,000 UK workers on much criticised zero-hour contracts,
its chairman said on Wednesday.
Answering questions from a British parliamentary committee
over its employment practices and the administration of part of
one of its fashion businesses, Sports Direct Chairman Keith
Hellawell admitted some 15,000 UK staff were on zero hour deals,
which do not specify set working hours or guaranteed income.
LONDON (Reuters) – Online gambling firm 888 Holdings (888.L: Quote, Profile, Research, Stock Buzz), which ended talks on a takeover by larger rival William Hill (WMH.L: Quote, Profile, Research, Stock Buzz) last month, said it was looking at acquisitions of its own to bolster growth.
888, which offers casino, poker and bingo games and is expanding its sports betting business, has enjoyed strong growth as gamblers increasingly move online. However, it and rivals expects to see profits clipped by higher taxes in some markets.
BERLIN/LONDON, March 22 (Reuters) – Driven by the demands of
a new plugged-in generation seeking “authentic” travel
experiences with a local feel, the world’s biggest hoteliers are
moving into a new sector in Europe – the “lifestyle” boutique
After many years focused on baby boomers and business
travellers, brands such as Marriott, Hilton,
Starwood and InterContinental Hotels Group are
paying more attention to the so-called millennials, expected to
be the biggest group of hotel customers by 2020 according to
LONDON, March 20 (Reuters) – British bookmaker Ladbrokes
promoted the head of its digital business Jim Mullen to
the chief executive’s job on Friday, reflecting the need to
compete harder in the growing online market.
The firm, Britain’s second-biggest bookmaker, has struggled
to keep pace with market leader William Hill and take
advantage of an increasingly popular online betting sector, with
investment in marketing and products lagging others.
LONDON, March 18 (Reuters) – Britain will impose a new charge on bookmakers to broaden the funding for horse racing to include more online gambling firms, finance minister George Osborne said on Wednesday.
Bookmakers support the sport through a levy on income on bets placed on races that has been imposed since the 1960s. It was worth around 82 million pounds ($120 million) in 2014 but many online betting companies do not have to contribute.
LONDON, March 13 (Reuters) – British pub chain JD
Wetherspoon aims to triple sales of breakfasts and
coffee over the next 18 months by slashing prices to grab more
of the thriving cafe trade and reduce its reliance on alcohol
Many British pubs are investing heavily to extend opening
hours, revamp menus and sell more tea, coffee and breakfasts to
tap growing demand for casual dining, as supermarkets steal more
of the alcohol market by cutting prices.
LONDON (Reuters) – British outsourcing firm Serco (SRP.L: Quote, Profile, Research, Stock Buzz) on Thursday launched a 555 million pounds ($831 million) rights issue after a spectacular profit collapse and said it was unlikely to return to sales growth for another three years.
Serco’s shares fell as much as 16 percent as analysts’ hopes for a smaller cash call were dashed and the company’s more cautious outlook beyond 2015 rattled investors. Its shares are down 61 percent on a year ago.
LONDON, March 10 (Reuters) – Not content with producing
quirky jackets or floral cut dresses, British clothing brand Ted
Baker has made a move into interior design with ‘Ted
The firm said on Tuesday it had signed a deal with property
group THAT BCL, majority owned by Ted Baker’s founder and CEO
Ray Kelvin, to provide a trade mark licence and design services
for the development of apartments in Bournemouth, southwest
England, in return for a 250,000 pound ($377,000) fee.
LONDON (Reuters) – G4S (GFS.L: Quote, Profile, Research, Stock Buzz), the world’s biggest security group, said it would increase provisions for under-performing UK government contracts by 45 million pounds ($68 million), overshadowing a better than expected rise in 2014 profit.
The British firm, undergoing a restructuring after a run of major contract problems hit its profits and reputation, said on Tuesday 2014 underlying operating profit rose 7.9 percent to 424 million pounds, ahead of a consensus forecast of 414 million.
LONDON, March 9 (Reuters) – British luxury handbag maker
Mulberry is moving closer to appointing a new chief
executive and aims to have one installed by July when its new
creative director joins, a source told Reuters.
Mulberry CEO Bruno Guillon quit almost a year ago after a
turbulent two years that was marked by three profit warnings
during an attempt to move upmarket that failed to pay off.