LONDON, Nov 19 (Reuters) – British pub groups suffered on
Wednesday after lawmakers backed a move to hand publicans more
control over where they buy beer, hitting shares and raising
questions over the structure of the industry.
Shares in Enterprise Inns and Punch Taverns,
owners of more than 9,000 British pubs, tumbled as investors
reacted to bill changes announced on Tuesday, which the
companies fear could lead to job losses and closures.
LONDON, Nov 19 (Reuters) – Online retail giant Amazon’s
own delivery service will more than halve the growth
potential for Royal Mail’s parcels business, the former
state-owned British company said on Wednesday, sending its
Parcels make up half of Royal Mail’s turnover and the
development of online shopping has made them central to the
company’s prospects when letter volumes are in decline.
LONDON (Reuters) – MPs on Tuesday voted to give people who lease pubs from big companies more freedom about where they buy their beer, overturning government plans for industry reforms.
Almost half of Britain’s 50,000 pubs are run by tenants under “beer-tie” agreements, which mean they buy beer from the firm that holds their lease at above market prices in return for subsidised rent or other benefits. Some publicans have claimed unfair treatment and very low earnings from such deals.
LONDON, Nov 18 (Reuters) – British lawmakers on Tuesday
voted to give people who lease pubs from big companies more
freedom about where they buy their beer, overturning government
plans for industry reforms.
Almost half of Britain’s 50,000 pubs are run by tenants
under “beer-tie” agreements, which mean they buy beer from the
firm that holds their lease at above market prices in return for
subsidised rent or other benefits. Some publicans have claimed
unfair treatment and very low earnings from such deals.
LONDON, Nov 18 (Reuters) – English Premier League club Manchester United posted a 10 percent fall in first quarter revenue as the absence of lucrative Champions League soccer this season took its toll.
United, currently seventh in the table and still struggling with what has been a dismal transition since Alex Ferguson retired as manager in May 2013, said total revenue fell to 88.7 million pounds ($139 million) in the three months to Sept. 30.
LONDON, Nov 14 (Reuters) – From broken Australian Navy
boats, to hotel bills for UK asylum seekers, the costs have
piled up for Serco, a pioneer of an outsourcing boom
that promised lucrative returns but has proved a far riskier
business than many thought.
The persistent payouts, combined with scandals over
government contracts in Britain, have battered profits and
exposed flaws in the way Serco won and operated business,
resulting in the most disastrous spell in its 85 years.
LONDON, Nov 13 (Reuters) – UK retailer JD Sports is
asking landlords to reduce rents on some of its Bank stores as
it seeks to cut costs at its loss-making fashion division.
Executive Chairman Peter Cowgill said it had now approached
landlords to seek a switch to turnover-based rents on around 25
of its Bank stores out of a total of just over 80.
LONDON, Nov 10 (Reuters) – Serco turned to its
investors for emergency cash on Monday after writing off 1.5
billion pounds ($2.5 billion) and slashing profit forecasts,
sending shares plummeting by a third.
The announcement deepened the sense of turmoil at the
British outsourcer which has reported a string of profit
downgrades, contract problems and scandals since 2013.
LONDON, Nov 6 (Reuters) – British retailer Halfords
believes its latest attempt at a specialist bike shop can grow
into a nationwide chain of more than 100 stores, thanks to a
recent surge in the popularity of cycling and the lessons from
The company, which runs 465 Halfords stores offering a split
of bike and car products, as well as 298 Autocentres, will open
its first “Cycle Republic” next month in London, where an
initial rollout will be focused before spreading elsewhere.
LEEDS, England, Nov 6 (Reuters) – British supermarket
operator J Sainsbury Plc’s answer to discounters Aldi
and Lidl was unveiled on Thursday, with the opening of its first
Netto-branded store in northern England tasked to win over
Like the UK’s other big players Tesco, Asda and
Morrison, Sainsbury is enduring a squeeze on sales as
cost-conscious customers switch allegiance to the
straightforward, cheap offers of the German discounters.