Business and Economics

Whitbread Plc said on Wednesday its first-quarter room revenue was hit by tough market competition and ongoing Brexit uncertainty, and the company was cautious about near-term conditions as it tries to build out its Premier Inn brand. Whitbread, which was originally a brewer, has focused on its hotel business after it sold Costa Coffee to Coca-Cola Co for 3.9 billion pounds ($4.90 billion) in a cash deal completed in early January. The company said total like-for-like revenue per available room...

The 52-year-old businessman came into the public eye in 2015 after buying BHS for £1 off shamed retail tycoon Sir Philip Green just a year before it collapsed.

Signs that arch-Brexiteer Boris Johnson may be a step closer to becoming Britain's next prime minister sent the pound tumbling to a five-month low versus the euro on Tuesday as investors worried about the risks of a hard exit from the European Union. The pound dived to 89.66 pence versus the euro, its lowest level since mid-January, before the outcome of a second round of voting in the Tory leadership contest that might cement Johnson's pole position among rivals. "Fears...

Eight out of ten of Britain's small and medium sized businesses don’t have a health and wellbeing strategy in place, a study has found. Despite attitudes towards wellbeing in the workplace generally improving a whopping 82 per cent of SME business leaders confessed they don’t have a process in place – but half said they would like to have one. The results show half reckon they set a good example for health and wellbeing within their organisation. But little is...

Euro zone wages rose in the first quarter of the year at the highest pace ever recorded since data is collected, data from the European Union's statistics office showed on Monday. The increase is a positive signal for the European Central Bank's plans to drive inflation up but has so far not translated into higher prices in the 19-country euro zone. Eurostat said wages and salaries rose 2.5% in the first three months of the year compared to the same...

British companies look set to cut their investment by the most in 10 years in 2019 as the Brexit crisis drags on, weighing on future economic growth prospects, a survey showed on Monday. Business investment - key for productivity and pay growth - was forecast to fall by 1.3% this year before growing by only 0.4% in 2020, the British Chambers of Commerce said. The BCC nudged up its overall economic growth forecast for 2019 to 1.3%, reflecting a surge...

Tens of thousands of British businesses could find themselves in trouble with the taxman by failing to follow new rules on keeping digital records. More than one million firms with an annual taxable income of in excess of £85,000 are now legally required to submit VAT returns online. But a survey of 500 SME senior decision makers revealed 11 per cent of those polled aren’t aware of the new requirement. There also appears to be confusion from businesses about whether...

Britain’s businesses are being advised to prepare for no-deal Brexit after hard-line Brexiteers took the lead in the latest Conservative leadership vote. The Institute of Directors – one of the UK’s employers’ groups – said companies should not put faith in politicians to produce an agreement as the October 31st deadline looms. Less than half of businesses have Brexit plans, according to its figures, and only 4 per cent of those questioned said they would be using the extension period...

China's economy flashed more warning signs in May as the United States ramped up trade pressure, with industrial output growth unexpectedly slowing to a more than 17-year low and investment cooling, underlining a need for more stimulus. Despite a slew of support measures since last year, China's economy is still struggling to get back on firmer footing, and investors fear a longer and costlier trade war between the world's two largest economies could trigger a global recession. Industrial output grew...