Diageo has halted the sale of its summer cocktail brand, Pimm’s, due to the inability to finalise negotiations with potential buyers. The company had engaged in auction proceedings earlier in the year, but failed in its attempts to close a deal.Pimm’s was one of three brands Diageo considered selling, but unlike the others, it remains unsold.The failed sale is part of a challenging year for Diageo, marked by declining sales and leadership issues.In its half-year results, Diageo posted a 1.4% drop in sales, putting further pressure on its management.Debra Crew, CEO, faces scrutiny over her role, especially following the company’s…
Author: Dave Antrobus
Watches of Switzerland has strategically acquired Hodinkee, aiming to enhance its presence in the luxury watch sector.The acquisition aligns with Watches of Switzerland’s objectives to broaden its online reach, focusing on the US market.Hodinkee, a reputable media company with a significant following, offers Watches of Switzerland access to an engaged audience.Watches of Switzerland plans to integrate Hodinkee’s commercial ventures, including collaborations and insurance partnerships.This move is financially backed by existing resources and will not affect Watches of Switzerland’s financial leverage.Watches of Switzerland, a prominent name in the luxury watch retail industry, has strategically acquired the US-based media company, Hodinkee. Known…
JD Wetherspoon announced a significant rebound in profits, reinstating their dividend due to increased revenues.The pub group reported a 73.5% increase in pre-tax profits, reaching £73.9 million, alongside rising revenues.Despite selling 18 pubs and terminating nine leases, the group achieved a like-for-like sales increase of 7.6%.Chairman Tim Martin highlighted ongoing sales improvements and anticipates positive outcomes for the current financial year.Economic challenges persist, yet Wetherspoon’s strategy positions it well against competitors, according to experts.JD Wetherspoon revealed a strong financial recovery, with profits significantly rebounding over the past year, thanks to high customer demand boosting revenues. The company announced that pre-tax…
An ongoing inquiry into the Post Office has surfaced allegations against its chair, Henry Staunton, involving misconduct and undue pressure on senior staff.Key revelations were highlighted during the inquiry, including claims made by Ben Foat, the organisation’s general counsel, concerning Staunton’s aggressive behaviour.Staunton allegedly attempted to derail an internal misconduct investigation by intimidating Foat, who faced significant stress as a result.The allegations initially arose from reports by Jane Davies, former chief people officer, prompting a thorough examination by barrister Marianne Tutin.These events have raised serious concerns regarding the organisational culture and practices within the Post Office.The inquiry into the Post…
Ryanair has unveiled new flight paths from Bristol Airport while urging the UK government to remove the Air Passenger Duty (APD).The airline’s winter schedule from Bristol includes five new destinations, raising the total to 30.Ryanair criticises the APD as an impediment to UK tourism, affecting regional growth.The airline promises expanded UK operations if the APD is abolished, including more jobs and aircraft investments.A slump in profit has highlighted the challenges Ryanair faces amid stringent taxes.Ryanair has announced five new routes from Bristol Airport as part of its winter schedule, bringing its total number of destinations from this hub to 30.…
The Criminal Bar Association (CBA) presents evidence regarding bullying and harassment to an independent review led by Harriet Harman.Reports highlight a culture where high standards lead to behaviours dismissing alternative viewpoints.The association identifies problems such as harassment and inappropriate conduct justified by the pursuit of a higher purpose.CBA recommends mandatory training for barristers on bullying, harassment, and inclusion.Proposals include independent mechanisms in chambers for complaints and appointing an ombudsman.The Criminal Bar Association (CBA) has presented substantial evidence to an independent review led by Harriet Harman, addressing bullying and harassment within the legal profession. The submission highlights a pervasive culture where…
A significant legal battle has begun in the High Court regarding aircraft stranded in Russia.Aercap Ireland Limited is pursuing compensation from insurers over jets stuck amidst Ukraine conflict sanctions.Over 400 aircraft worth nearly $10 billion remain in Russia due to sanctions imposed by the West.Insurers contest payouts, questioning the physical loss of aircraft and impact of Western sanctions.The trial could set critical precedents in the application of war-risk versus all-risk insurance policies.A major judicial confrontation has commenced in London’s High Court concerning aircraft belonging to Aercap Ireland Limited, which have remained in Russia following sanctions due to the Ukraine conflict.…
A comprehensive set of proposals aims to reform outdated burial and cremation laws in England and Wales.The Law Commission suggests reopening ancient churchyards for burials to address space shortages.New criminal offences are proposed for failing to disclose grave locations when selling private land.Proposals include addressing the issue of unclaimed ashes held by funeral directors.The government supports the reform, with a consultation open until January 2025.In response to a pressing shortage of burial space, the Law Commission has put forward a series of proposals aimed at updating the laws governing burial and cremation in England and Wales. The current legal framework,…
The Bank of England may lower interest rates more aggressively in response to falling inflation, Governor Andrew Bailey suggests.Governor Bailey warns of a potential spike in oil prices due to Middle East tensions, complicating monetary policy.The pound fell by 1.05% to $1.31, with inflationary pressures easing and geopolitical tensions rising.The UK’s inflation has decreased from a peak of 11.1% in October 2022 to 2.2%, amidst fluctuating oil prices.The Monetary Policy Committee remains cautious, holding the base rate at 5% but considering future rate cuts.The Bank of England may adopt a more aggressive approach to interest rate reductions if inflation continues…
A considerable number of homes currently for sale in the UK are chain-free, providing potential buyers with quicker and less complex purchasing options.Zoopla reports a 25% increase in house sales compared to last year, driven by an influx of new listings and lower mortgage rates.Many new listings come from landlords and second-homeowners aiming to sell before potential tax hikes.Movement in the housing market is largely influenced by the prospect of increased capital gains tax and doubled council taxes on second homes.The market sees significant regional disparities in house price changes, with some areas experiencing declines and others seeing growth.According to…