Business News
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Pub major Stonegate warns of £2bn debt ‘material uncertainty’
The most prominent tavern chain in the United Kingdom has vowed to eliminate its £2.2 billion in debt. Stonegate, which operates the Be At One and Slug & Lettuce chains, warned of "material uncertainty" regarding the obligations in its annual report. The company has until 2025 to refinance its obligations, most of which were incurred in 2020 when it acquired competitor Ei Group.
Santander UK leaves lending standards body
The fifth-largest bank in the United Kingdom is withdrawing from the Lending Standards Board, citing the potential for consumer and staff confusion. Santander UK, the fifth-largest high-street bank in the United Kingdom, is terminating its membership in a prominent lending standards organisation due to the duplication of industry-required regulatory standards.
McDonald’s HQ to take over Israel branches post-boycott
The intervention of the American company follows a period of controversy surrounding its international sales during the conflict. After donating thousands of complimentary meals to Israeli troops, activists have urged consumers to avoid the chain. McDonald's headquarters will assume ownership of its Israeli locations following consumer boycotts in response to the conflict in Gaza, which negatively impacted global sales.
Bankers bowl cricket bosses over with Hundred sell-off pitch
The England and Wales Cricket Board is considering the advice of firms such as Raine and Rothschild regarding its intentions to sell interests in The Hundred's franchises. English cricket executives will advance the sport's ownership structure overhaul by another level next week by announcing plans to sell stakes in The Hundred's eight franchises.
Food prices, empty shelves due to post-Brexit border fees
Trade associations have warned of increased food costs and bare supermarket shelves because new post-Brexit border fees were introduced this month. Beginning on April 30, imports of plant and animal products, including salmon and cheese, that pass through the Port of Dover and Eurotunnel and enter the United Kingdom will be subject to a maximum charge of £145.
Drug developer BenevolentAI faces founder-led board mutiny
After witnessing its shares fall by more than 90%, Ken Mulvany, who established BenevolentAI in 2013, desires to return as executive chairman and remove most of the current board. BenevolentAI, a pharmaceutical developer headquartered in the United Kingdom, is grappling with a boardroom revolt spearheaded by its founder after a decline in its shares since its initial public offering approximately two years ago.
China’s Country Garden halts Hong Kong share trading
A crisis-stricken Country Garden, a Chinese real estate developer, has halted trading on the Hong Kong Stock Exchange after postponing the disclosure of its annual financial results. The company announced last week that it required additional time to gather data to restructure its debts. The company defaulted on its foreign obligations the previous year and faced a winding-up petition.
Climate shifts may hike chocolate costs due to cocoa issues
In recent months, intense dusty seasonal breezes from the Sahara have obstructed the sunlight required to develop cocoa bean pods in West Africa. Heavy precipitation from the prior year has also disseminated a decaying disease throughout cacao trees. Undoubtedly, chocolate specialists have observed that eggs cost more this Easter. As a result of the impact that shifting climate patterns have on cocoa supplies in West Africa, the price of chocolate may now rise.
Ramadan 2024: From where do you obtain your dates?
During the Muslim sacred month of Ramadan, as the sun sets, numerous adherents break their fasts with a sweet, dried fruit with an ancient history in the region. To attain a higher state of "taqwa," or awareness of God, able-bodied, devout Muslims abstain from eating, drinking, smoking, and engaging in sexual relations during daylight hours for the duration of these 29 to 30 days.
Bun and cheese: Jamaica’s hot cross bun counterpart
Restaurants and lunch counters in Jamaican communities worldwide decorate their glass pastry cases annually with buns infused with cinnamon and nutmeg, in anticipation of Easter. Concurrently, Caribbean markets stock their shelves with vibrantly coloured preserved cheese. While the onset of spring may be formally marked by the emergence of milder temperatures and blossoming plants, I consider the season to have truly begun – having been raised in a Caribbean household – when these two elements converge to create bun and cheese.