London’s iconic Goring Hotel hits record £14m in revenue January 15, 2017 The Goring Hotel in Belgravia reported its highest ever turnover in 2016, coming in at more than £14m with a profit of £1.6m. In a year which saw the Goring Dining Room receive its first Michelin star and the hotel awarded five stars in the Forbes Travel Guide, profit before tax almost quadrupled to £2m. [...]
Burberry leads another week of key retail updates January 15, 2017 British fashion house Burberry is widely expected to report an uplift in sales this week after the fall in the value of the pound made its products more attractive to foreign buyers. Burberry posts its third quarter trading update on Wednesday, and Barclays analysts have predicted the company will announce a like-for-like sales increase of two per [...]
City-based frozen yoghurt chain Sloane Brothers rolls out tasty plan to go global next year January 15, 2017 City-based frozen yoghurt startup Sloane Brothers will roll out to new stores across the UK early this year and is gearing up to go global in 2018. The group, which launched with a store on Brick Lane in June 2015, will open “a number of new locations” this year and is preparing to respond to requests [...]
Stock Spirits row continues as investor slams “disdainful” treatment of shareholders January 15, 2017 Stock Spirits, a London-listed producer of Polish vodka, has been criticised by a prominent shareholder for the board’s “disdainful” treatment of investors. Luis Amaral, who owns a 9.7 per cent stake in the company, said there had been a lack of transparency in dealings with shareholders. He cited the cancellation of a planned investor day [...]
London’s Burlington Arcade is for sale January 15, 2017 London's iconic covered shopping gallery the Burlington Arcade has gone on sale. The arcade, which was established in 1819, links Piccadilly and Bond Street and is home of high-end brands such as Manolo Blahnik and Chanel. Industry sources said it would sell for around £400m. Read more: Central London take ups surge on the back of [...]
Leading bookmaker hits out on government plans, warning of “consequences for the sector” January 14, 2017 One of Britain's largest bookmakers has criticised government plans to take 10 per cent of gambling firms horse racing profits to fund the sport. Ladbrokes Coral, which runs over 4,000 betting shops across the UK, said the proposals "will have consequences for the sector". The department of culture, media and sport today announced an amendment to laws dating [...]
Horse racing levy to be imposed on bookmakers, hitting profits from April January 14, 2017 Horse racing organisations rejoiced will bookmakers fumed after the government announced plans to slap a 10 per cent levy of gambling firms. And bookies won't have much time before get used to the new rules as sports minister Tracey Crouch plans to introduce the levy – which is on all profits greater than £500,000 made on [...]
Mike Ashley’s patience runs out: Sports Direct appoints law firm despite previous investor sentiment January 14, 2017 Sports Direct has controversially appointed RPC to take control of its eagerly anticipated corporate governance review after two failed attempts at appointing alternative candidates. In an announcement to the stockmarket after it closed yesterday evening, Mike Ashley's firm said it had appointed the law firm, despite previous concerns from key investors over RPC's impartiality. Read more: [...]
James Bond’s yacht from Skyfall has gone on sale January 13, 2017 Looking for a great Valentine's Day present? Look no further – James Bond's yacht is for sale. The yacht – also known as Regina – appeared in Skyfall and is now on the market for £7.76m. Taking the yacht out for a week normally costs nearly £150,000 (manned by a crew of 8). Read more: [...]
Property interview: Melissa York speaks to CEO Fredrik Korallus of upstart hostel brand Generator about breaking America January 13, 2017 From the way chief executive officer Fredrik Korallus talks about his hostel group Generator, you’d think he was heading up a trendy Shoreditch club night. He speaks about “having the right art, the right music, the right culture” and even aspires to turn the £20-a-night shared accommodation hubs into “living art centres”. But exceeding expectations [...]