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Following a two-year international investigation in Germany and the Netherlands, three German nationals are facing charges of being the administrators of Wall Street Market (WSM), which was one of the world’s largest dark web marketplaces.
The marketplace allowed vendors to sell a wide variety of contraband, including an array of illegal narcotics, counterfeit goods and malicious computer hacking software, said U.S. prosecutors.
The three defendants from Germany –which include a 23-year-old resident of Kleve, a 31-year-old resident of Wurzburg, and a 29-year-old resident of Stuttgart – are in custody in Germany. The defendants were arrested in Germany April 23 and 24.
They were the administrators of WSM, a sophisticated online marketplace available in six languages that allowed approximately 5,400 vendors to sell illegal goods to about 1.15 million customers around the world, according to the criminal complaint filed Wednesday in U.S. District Court in Los Angeles.
Like other dark web marketplaces previously shut down by authorities like Silk Road and AlphaBay, WSM functioned like a conventional e-commerce website, but it was a hidden service located beyond the reach of traditional Internet browsers on the Tor network, a service designed to conceal user identities, officials said.
For nearly three years, WSM operated on the dark web by the three men who now face charges in both the United States and Germany. An “exit scam” appeared to be conducted last month when the WSM administrators took all of the virtual currency held in marketplace escrow and user accounts – believed by investigators to be approximately $11 million – and then diverted the money to their own accounts, prosecutors said. Exit scams are common among large darknet marketplaces, which typically hold money in escrow while a vendor delivers illicit goods.
A fourth WSM defendant was charged in a criminal complaint filed in U.S. District Court in Sacramento, California.
Marcos Paulo De Oliveira-Annibale, 29, of Sao Paulo, Brazil, also faces federal drug distribution and money laundering charges for acting as a moderator who, among other things, mediated disputes between vendors and their customers, prosecutors said.
Annibale, who used the online monikers “MED3LIN,” also acted as a public relations representative for WSM by, among others things, promoting WSM on websites such as Reddit, according to the complaint. The case naming Annibale was unsealed when Brazilian authorities executed a search warrant at his residence.
“Just as international law-enforcement partners began dismantling Wall Street Market and taking action against its members, as alleged in the complaint, the site’s administrators decided to steal their customers’ money via an exit scam,” said Assistant Attorney General Brian Benczkowski. “This operation sends a crystal-clear message: dark markets offer no safe haven. The arrest and prosecution of the criminals who allegedly ran this darknet marketplace is a great example of our partnership with law enforcement authorities in Europe, with the support of Europol, and demonstrates what we can do when we stand together.”
“We continue to keep pace with sophisticated actors on the dark web by increasing our technical abilities and working even more closely with our international law enforcement partners,” said U.S. Attorney Nick Hanna. “While they lurk in the deepest corners of the internet, this case shows that we can hunt down these criminals wherever they hide.”
An affidavit in support of the criminal complaint filed in Los Angeles outlines how the defendants operated a sophisticated online marketplace that offered encrypted communications between buyers and sellers, as well as an online forum to discuss vendors and the quality of their wares.
The affidavit also describes an international investigation that was able to identify the three administrators of WSM, show how they previously operated another German-based darknet marketplace that shut down in 2016, and link them to computer servers in Germany and the Netherlands that were used to operate WSM and process virtual currency transactions.
The three defendants created WSM, maintained the website, and operated the marketplace to ensure buyers could access vendor pages and that financial transactions were properly processed, officials said. The investigation outlined in the complaint affidavit linked the three defendants to WSM in a number of ways, including their access to the WSM computer infrastructure. One defendant, for example, used virtual private networks to access WSM computers, but when a VPN connection would fail, his IP was revealed and authorities were able to identify his specific location.


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This week our experts brought you the following insights based on their experience as investors, entrepreneurs & executives.
Monday Ilias Hatzis our Greece-based crypto entrepreneur (Founder & CEO at Kryptonio a “keyless” non-custodial bitcoin and cryptocurrency wallet, that lets users manage bitcoin and crypto, without private keys or passwords and Weekly Columnist at Daily Fintech) @iliashatzis wrote Jack Dorsey wants to keep the force in bitcoin decentralized
Jack Dorsey, CEO of Block (formerly Square), has been a consistent advocate of bitcoin. Dorsey both personally and professionally has supported bitcoin for years. In 2018, he said that bitcoin will eventually become the world’s single currency. In 2020, Square purchased about $50 million worth of bitcoin. In early 2021, Square bought another $170 million worth of bitcoin. At the Bitcoin 2021 Conference in June, Dorsey explained that he sees bitcoin as a way to protect against currency devaluation and expedite transfers of funds across borders. Late last year, Square changed its name to Block, to denote a broader mission that includes blockchain and economic empowerment. With Block’s bitcoin holdings at 8,207 BTC, worth $354 million at current prices, Block hasn’t changed its tune on bitcoin. Last week Dorsey officially announced that Block would get into Bitcoin mining to make it easier for people to mine bitcoin. The announcement was made on Twitter and confirms information that dates back to October that the company would eventually enter the mining business. Block aims to create an “open bitcoin mining system” which is easily available, reliable, performant, power-efficient, and can be used by anyone.
Editor note: If you want to see the future of Bitcoin, watch what Jack Dorsey (and El Salvador) do.
Tuesday Bernard Lunn, CEO of Daily Fintech and author of The Blockchain Economy wrote: Part 3: Equities birth certificates to get people onto the 1st rung of the wealth creation ladder.
People often talk about getting onto the property ladder, but property is only one type of asset used for wealth creation.
Equities is the primary asset used by the wealthy.
Imagine somebody born into a poor family who on her/his 21st birthday receives a certificate that in real inflation adjusted terms represents more money than they can earn in a year at a minimum wage.
That is a feasible scenario if that person is given an Equities Birth Certificate and cannot cash them in for at least 21 years.
Editor note: Read this post to understand some of the practical details in an idealistic dream to reduce financial inequality. This is NOT rocket science.
Car manufacturers generate revenue through vehicle sales and post-sale services. As newer business models such as mobility-as-a-service and vehicle-as-a-platform evolve, additional revenue streams are emerging. Whereas conventional businesses generate nearly 90% of revenue, over the next decade, this share is expected to shrink to about 70%. Vehicle-as-a-platform is relatively new with a below 1% share in revenue. However, it’s expected to grow 1.3x year-on-year over the next decade, making it the fastest growing automotive business segment. It comprises two revenue streams: data monetization and platform-as-a-service, the former being the focus of this post.
Editor note: Losing my privacy is worthwhile if I save on insurance premiums by being a better driver.
To continue receiving ‘This Week in Fintech’, the weekly recap of our articles, you will need to fill this form to give us consent to send this to you. Please note that Daily Fintech requires your organizational email address (e.g. corporate, educational or government) and your LinkedIn URL. This information is required for subscribers who want ‘This Week in Fintech’ for free. If you prefer to not provide this information, you can still receive all our content by becoming a paying member.

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Nine Million Hotel Bednights Lost in 2021: Scale of Pandemic Impact on Irish Hotel Sector Laid Bare
- Turnover for hotels down 48% in 2021 compared to 2019 pre-Covid levels
- Nine million hotel bednights lost in 2021 compared to 2019
- Hotel room occupancy in first two months of 2022 38% vs 63% for same period in 2019
- Summer bookings months averaging 39%; vs occupancy of 88% summer 2019.
Cavan, Tuesday, 28th March 2022: The scale of the impact caused by the pandemic on the hotel and guesthouse sector has been highlighted in new industry research released today by the Irish Hotels Federation (IHF) at its annual conference in the Slieve Russel Hotel in Cavan.
Across Ireland, more than nine million bednights were lost in 2021 when compared to 2019, rising to 19 million bednights lost when 2020 is also included. The survey of hotels and guesthouses nationwide further reveals that average annual turnover almost halved (48%) in 2021. Nationally, hotels and guest houses registered an average occupancy of just 33% in 2021 compared to 73% in 2019, with Dublin City seeing an even steeper decrease at just 25% occupancy. Average hotel room occupancy for the first two months of 2022 stood at just 38%, compared to 63% for the same period in 2019. Looking to the key summer months, forward bookings stand at just 39% for this year, compared with an average occupancy of 88% for the same period in 2019.
The IHF’s survey also reveals that two out of three (63%) are planning to invest in sustainability initiatives largely focussing on insulation, waste reduction, green energy and water conservation. A further third (32%) expressed a desire to invest in sustainability initiatives but said they will not be in a position to do so this year.
Addressing over 450 delegates, IHF President Elaina Fitzgerald Kane said that while green shoots of recovery are emerging, recovery to 2019 levels is likely to be a number of years away. She called on the Government to support the tourism industry recovery by cancelling an increase in tourism VAT planned for September, and to do everything within its power to tackle spiralling business costs across energy, insurance, water and rates.
“The past two years have been the most challenging in the history of Ireland’s hotel and guesthouse sector. IHF members, and indeed the entire tourism and hospitality sector, saw most of their business vanish overnight. While domestic tourism and ‘staycations’ enabled many businesses to keep their heads above water, average occupancy for 2021 was just 33%. International visitors – the heartbeat of Ireland’s tourism industry, with more €7.25 billion in foreign exchange earnings in 2019 – slowed to a trickle. Pre-Covid, we welcomed over 10 million overseas visitors to our country annually, supporting jobs and livelihoods in every town and village in the country. The scale of the decimation of the entire sector is unprecedented.
“Whilst we are optimistic for the future, the pace of recovery is disappointingly slow. Our research shows that for January and February this year we are down almost a million bednights compared to the first two months of 2019. For the critical holiday months (June-Sept), current hotel and guesthouse room bookings for 2022 are way below par averaging 39% compared to an average occupancy of 88% for the same period in 2019. This highlights the scale of the ground to be made up in advance of the summer.
Ms. Fitzgerald Kane said that despite concerns on the slow uptake in bookings this year, the hotel sector was resilient and would recover in time, but that it urgently required support and interventions at national level to control spiralling businesses costs.
“We operate hotels and guesthouses in one of the most beautiful, friendly and dynamic countries in the world. Our members are eager to rebuild not just their own businesses but the entire tourism industry – which supports an estimated 270,000 jobs pre-pandemic, one in 10 of all Irish jobs, 70% of which are outside Dublin.
“Notwithstanding the many challenges facing the sector, almost 7 in 10 hotels and guesthouses (68%) are positive or very positive for the year ahead. Rebuilding tourism to pre-Covid levels is the singular focus of the entire industry, in partnership with state agencies and Government. We will do what we can to control our cost bases, however, we require Government measures that must have a positive influence on those areas outside our control – in particular escalating business costs, whether they are in insurance, energy or rates – to assist Ireland to retain its cost competitiveness within the international tourism arena.”


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Reminder: FREE entrance to N.C. State Fair Thursday with food donation!
Posted October 23, 2013
Here's one more reminder that tomorrow is Food Lion Hunger Relief Day at the N.C. State Fair. Bring in five cans of Food Lion brand food to the N.C. State Fair on Thursday, Oct. 24 and receive FREE admission!
The Food Bank of Central and Eastern North Carolina will be collecting the food and then giving it to those in need in a 34-county area surrounding Raleigh.
Are you going to the Fair on Thursday?


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If Android smartphones and now tablets (as of 2013) outsell iOS devices so convincingly worldwide, why do iOS devices command such a substantial share of mobile browsing in Western markets such the US? This blog post examines why this happens today and whether this will continue to be the case in the future, and what it all means for your mobile strategy.
Update (April 1, 2014): Now includes forecasts for smartphone sales 2014-2018 and average selling price of smartphones.
Updated March 21, 2014: now includes clarification on positive impact for non-EU citizens visiting EU countries.
The UK telecoms regulator, Ofcom, has released a European Broadband Scorecard comparing the UK’s performance in broadband and mobile broadband with European countries. The regulator has been tasked with proving that progress is being made towards the UK Government’s ambitious goal that the UK ‘should have the best superfast broadband network in Europe by 2015’.
New research from On Device Research suggests that WhatsApp is now more popular for social messaging for smartphone users than Facebook Messenger, WeChat, BBM, Line etc. The initial reaction is: so what? Clearly this is of interest to: a) a provider of social messaging; b) a user of social messaging; or c) a network operator that sees these applications as a threat to SMS revenues, but what about marketers? Should social messaging be seen as:


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Burberry held their 'Spring 2018 collection' fashion show at Old Sessions House for London Fashion Week and it appears that the two WINNER members knocked it out of the park.
By wearing a few pieces of clothing from Burberry's Spring 2018 collection, the two artists impressed everyone. With their fashion versatility, it appears they are starting to get recognized all across the world.
Check out the full article here.
Photos with Burberry CEO Christopher Bailey:


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Our Town York: Downtown Revitalization
LINCOLN, Neb. (KOLN) - Facade improvements and exterior structural repairs have helped bring new vitality to many store fronts in the downtown area of York.
We caught up with York Chamber of Commerce Executive Director Madonna Mogul to talk about recent downtown revitalization efforts. “Downtown York has been active in a revitalization program since 2016,” Mogul said. “We embarked upon a survey through the Nebraska Department of Economic Development, and this helped give us some direction to guide our downtown property owners on what we wanted the look and feel of downtown to be.”
Mogul says the city of York is it its third funding phase, and 34 properties have been upgraded and improved. “Between grant funds and private investment, we’ve invested $1.6 Million downtown,” Mogul said. “Again, the help came through the Department of Economic Development. Business owners submitted an application for facade improvements, to help with ADA compliance issues, or to deal with code violations such as dilapidated wiring that needed to be addressed. They made applications to the DTR committee, we reviewed them, and the owners only had to put in 25% of the amount of the project. Our projects ran the whole spectrum. We had some small projects that maybe just wanted to put in a handicapped accessible door, and we had some that wanted to do a complete restoration.”
Some examples of businesses that took advantage of the grant funding include Mr. Dukes Mercantile, and the Jewelers Vault. “Our movie theater was a part of the program,” Mogul said. “Our community playhouse participated in the last round of grants and they are finishing up their project in this current phase of revitalization. We had several retailers that went the extra mile. This has actually spurred private investment. We do have some properties downtown that many people think were a part of the program. But they actually did the work on their own, to be a part of the excitement.”
“At this point, I’ve been informed that we have gone through all of the funding phases that are available,” Mogul said. “However, if there are any other opportunities, we will make an application. The city of York is all about equipping our businesses as much as we can.”
Copyright 2022 KOLN. All rights reserved.


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WASHINGTON — State Farm Insurance says it will not be accepting liability under the Best Interest Contract (BIC) on the sale of annuities or mutual funds by the more than 12,000 of its agents throughout the U.S. who have licenses to sell securities.
At the same time, Allstate, USAA and Nationwide, three other insurers with large property casualty divisions whose captive agents also sell investment products, appear to have decided to remain in the commission investment business.
However, in comments to LifeHealthPro, these companies declined to be specific about how they will comply with the new Department of Labor regulation fiduciary standard rule.
One reason for that is that they could be awaiting the disposition of various lawsuits that seek to delay implementation of the rule pending further court proceedings.
This rule is being implemented in stages, with the first deadline April 2017. It requires agents and advisors to act within their clients’ best interests when selling investment products for a fee or commission into their customers’ IRA and 401 (k) accounts under the Employee Retirement Income Security Act of 1974 (ERISA). Currently, the sale of these products is covered under the less strict suitability standard.
In comments in August, Jason L. Smith, CEO and founder of Clarity 2 Prosperity in Cleveland, an independent marketing organization, theorized that issuers and distributors are delaying action until they see what the courts do.
His firm has filed to offer the best interest contract exemption (BICE) to its independent agents by applying to be a “financial institution” under Department of Labor rules. But only six IMOs have applied for FI status, Smith said. Many others may be awaiting action on the various lawsuits. “I think many are putting their head in the sand and hoping that through the lawsuits the whole DOL thing goes away,” Smith said.
A federal district court in Washington, D.C. heard arguments Aug. 25 in one case filed by the National Association of Fixed Annuities. The judge declined to rule immediately, but appeared to indicate that NAFA didn’t appear to meet the threshold required to delay implementation of the rule.
State Farm’s actions, however, offer insight into the potential reaction by various businesses within the financial services industry to the new rule. State Farm and Allstate may primarily sell auto and home insurance to customers nationwide, just as USAA does to military or retired military personnel worldwide. But investment products are an important part of their portfolios.
Many of their agents are licensed to sell fixed annuities through state licenses and variable annuities and mutual funds through securities licenses.
Two-thirds of State Farm’s 18,000 agents sell investment products, for example.
State Farm, in comments by Phil Supple, its director of public relations, said that as of next April, State Farm will sell and/or service mutual funds, variable products and tax-qualified bank deposit products through a self-directed customer call center.
He said State Farm will continue to offer fixed annuities through authorized agents. (State Farm does not offer fixed indexed annuities.) He said State Farm agents “will also continue to serve customers for all other insurance and financial services needs.”
The “self-directed” call center will be “a place where customers can learn about what retail investment products State Farm offers,” Supple said. “Customers will make their own decisions regarding their investments,” he added, but declined to disclose whether those answering the calls at the centers will be licensed to sell investment products or able to earn a commission on the sale of those products.
Supple said it is “not really possible” to answer whether or not allowing agents to sell investment products will have a deep impact on their income. “Income would have varied greatly from agent to agent,” Supple said. Besides, he said, “any actual numbers, we believe, would be proprietary.”
USAA, Allstate and Nationwide were somewhat opaque in their responses.
Arguments in a case similar to the NAFA lawsuit in that it involves fixed indexed annuities will be held Sept. 21 in federal court in Kansas. The suit was filed by Market Synergy Group.
And nine groups, including the U.S. Chamber of Commerce, have filed suit in Texas seeking an injunction against the rule. The case is being heard in Federal District Court in Dallas and a decision could be handed down as early as October.
In its statement, USAA said, “We are committed to adhering to regulatory requirements and to ensuring our members receive the financial products, services, advice and solutions they expect and deserve.”
The statement added that, “USAA will inform members of expected changes to our delivery of those products and services before the required compliance date in 2017. As usual, we will continue to monitor development of the DOL Fiduciary Rule with our members’ interest in mind.
In its statement, Allstate said that, “Many middle-market customers rely on Allstate for access to life and retirement products. We are committed to providing the products that our customers expect from Allstate agencies and financial professionals as we adapt to the Department of Labor fiduciary rule scheduled to begin taking effect in April 2017.
— Related on ThinkAdvisor:


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Amazon has spent the last year or so pushing heavily to dominate the food and grocery retail space. The most recent development comes as the online retail giant partners with meal kit delivery service Marley Spoon to start delivering Martha Stewart’s meal kits via Amazon Fresh.
While still relatively small when compared to the food industry at large, the U.S. meal kit delivery market is growing quickly. Data from Packaged Facts projected some $1.5 billion in sales for the meal kit market in 2016, with growth anticipated to hit as much as $5 billion within the next five years, said Forbes. Naturally, Amazon wants a bite.
But Amazon’s entry into the meal kit space could spell trouble for the startup operations — like Plated, Blue Apron and HelloFresh — that currently populate the meal kit space. These smaller operations are already feeling the pressure from other potential “Big Food” entrants like Tyson Foods Inc., Campbell’s and Hershey Co. — all of whom are reportedly in talks with online couriers to break into the meal kit market.
The entry of Big Food and Amazon into the meal kit space could offer more affordable or more ready-to-cook options, potentially drawing more consumers in or young subscribers away from the long prep times and higher prices that currently define the meal kit ecosystem (meal kits generally come with an average price tag between $10 and $12). Additionally, both Big Food and Amazon have the benefit of a large product inventory, reach and, in the case of Amazon, delivery infrastructure.
Fresh competition aimed at supplanting incumbent meal kit startups is also coming inside the house, so to speak: from physical grocery stores. Meal kits and prepared food options have started springing up at supermarkets as part of a larger “grocerant” and expanded services push to draw foot traffic (and consumer dollars) back into grocery stores.


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The Egyptian government is looking to localise the country’s electric vehicle (EV) industry, by providing the necessary support for investment in this field.
It is also looking to keep pace with current global environmental trends, and shift towards environmentally friendly transportation methods including the use of electric cars. These are designed to be free of harmful emissions, and reduce the dependence on traditional fuels.
The government is keen to equip all new cities with the infrastructure for EV charging. But, of the government or private sector, it remains yet to be seen who will create the infrastructure for this new type of vehicle. Another important consideration to take into account is the incentives that investors need to participate in the setting up of the project.
Hamad Zain, a member of the Board of Directors at electric utility manufacturer, Revolta Egypt, has highlighted some of the issues surrounding the provision of electricity to electric vehicles. Revolta Egypt has been heavily involved in producing the technology in Egypt that is used in manufacturing electric cars.
He noted that Revolta President, Mohamed Badawi, is trying to resolve the company’s financial crisis caused by debts from the lack of financial compensation for the electricity sold so far.
Zain pointed out that the state is unable to handle the manufacturing terms for electric cars whilst building infrastructure, so the private sector must participate. He explained that such companies have already conducted market studies for most of the country, which saves the government time, effort and investments.
He also stressed the need to complete existing projects before starting manufacturing, stressing that the pace of setting tariffs for electric vehicle charging stations should be set. This will make headway in attracting financial investments for the infrastructure that ultimately serves the consumer.
Zain said that the absence of a specific tariff has caused investors to refrain from starting projects in Egypt, due to the huge losses they incurred when providing electricity for free.
He added that the most prominent obstacle facing the spread of electric cars is licensing, given that it needs about 30 days for electric cars to gain this. He called on the government to provide incentives and facilitate imports at reasonable prices, which would in turn accelerate the spread of electric cars in Egypt.
He pointed out that there are many incentives that the state must provide for electric passenger car manufacturing to start, including granting customs exemptions. Taxes on feeding industries should also be abolished, giving the opportunity for the state to start manufacturing.
Mohamed El-Ghazaly, Director of Marketing and Head of the Electric Vehicles Sector at BMW i, called on the state to approve investment incentives to encourage and attract direct investments in chargers and charging points.
El-Ghazaly called for increased encouragement for consumers to purchase electric cars, with awareness also to be raised on these types of vehicles in Egypt. He pointed to the slow sales of electric cars, due to the public not understanding their importance.
He added that the most prominent obstacles to their spread is in their licensing, which in turn leads to difficulties in financing purchases. This latter point is due to banks refraining from financing electric car purchases as the licence for this type of vehicle must be renewed monthly. For banks to start accepting financing applications for electric cars, annual licences must become the norm.
Hussein Mostafa, a car expert and former Executive Director at the Egyptian Automobile Manufacturers Association (EAMA), stressed the need to build infrastructure and service centres for electric cars.
Only once this is done, could they be deployed in Egypt, as there must be a minimum of 3,000 strategically placed charging stations around the country, for consumers to easily access charging points.
Mostafa said that the presence of electric car stations does not depend only on the private sector, as 20% of the petrol stations are affiliated with the Ministry of Petroleum.
He added that a private company has pledged to establish 300 charging stations in collaboration with a government oil company. Few, however, have been established so far due to the lack of a specific tariff for the price of electricity sold, which has hindered the company’s business.
Mostafa pointed out that the problem of electric car charging stations was not limited to Egypt. He noted that China, which represents the largest electric car market worldwide, has only 460,000 electrical stations serving over 2 million electric vehicles.
He stressed the importance of undertaking a realistic study to market the 25,000 electric vehicles that the Ministry of Public Enterprise Sector is aiming to manufacture every year. The study would also need to look into the infrastructure needed to serve them.
Mostafa also pointed out the need to educate the public about the importance of electric cars, and increase their acceptance of these vehicles.
Automotive sector expert Gamal Askar said that the Egyptian state is localising the electric car industry and make Egypt a regional centre for that industry in Africa. The move is being undertaken to transform Egypt into a clean, green environment.
He added that the state is striving to spread the use of electric cars due to the high fuel prices in the country, in addition to the high costs of periodic maintenance needed for traditional cars. Electric cars, on the other hand, do not require periodic maintenance or use of fuel which has increased significantly in recent years due to the government removing petrol tariffs.
Askar added that Egypt’s manufacturing of electric cars, and the opening of several factories and production lines for this purpose, may strengthen its position in this sector. Egyptian made electric cars will potentially be exported across Africa, whilst employing citizens effectively.
He stressed that the localisation of Egypt’s auto industry must follow the localisation of the electric batteries industry, which accounts for 60% of electric car components.
He stressed the need for construction to be completed on infrastructure and charging stations, to ensure that the Egyptian government’s plan to increase electric car use in the country does not fail.


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Nas’ Upcoming New Album Tracklist Revealed – Details Here!
Kanye West has been on a consistent chart topping roll for the past few months as he drops artist after artist from his G.O.O.D. Music label’s roster. He took to social media recently to share the tracklist for the upcoming Nas album.
The icon, Nas hasn’t released an album in six years, so the anticipation for this new album is through the roof. The album’s title has not be released yet but it contains seven tracks which are produced by Kanye West. The album is scheduled to drop on June 15.
Check out the tracklist via Kanye’s post below.
— KANYE WEST (@kanyewest) June 13, 2018
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Riding on the largest shipments made of apparel goods, Bangladesh recorded its highest ever single-month export earnings of $4.16 billion in September.
The earnings were 37.99% higher than the $3.01 billion registered in September of last year, according to provisional data of the Export Promotion Bureau (EPB) released yesterday.
"As economies began to open up, retailers needed goods in bulk to meet consumer demand. As people could not leave their homes for around two years, once the restrictions were lifted, they began to buy more," said Dr Khondaker Golam Moazzem, research director at the Centre for Policy Dialogue.
"Due to the sudden spike in demand, many suppliers had to charter flights to transport goods. This is reflected in Bangladesh's single month highest in terms of exports.
"But the increased demand also affected raw material suppliers, disrupting supply chains and increasing freight crises.
He added that where on average Bangladesh would export $3billion, the number now stood at $4billion, but cautioned that the rate of increase in costs of raw materials was not matched by the value gained by manufacturers.
He urged manufacturers to focus on diversification and not to accept orders at low prices.
Meanwhile, last month's earnings were also 39.17% more than the monthly target of $2.99 billion.
Bangladesh earned $11.02 billion from exports in the first quarter of this fiscal year, which is 11.37% higher than the same period last fiscal year when it earned $9.89 billion.
The quarterly earnings were also 5.65% higher than the target of $10.43 billion, according to the EPB.
Apparel shipment grew by 41.66% in September this year compared to the same month last year as per the data published by EPB.
The highest earnings, $1.90 billion, came from knitwear shipment, while woven items fetched $1.51 billion, both posting over 41% growth from a year-ago period.
Leather, agriculture, fish, pharmaceuticals and plastic products also posted impressive growth year-on-year.
Jute and jute goods, however, lost out, posting over 24% negative growth in September.
"The apparel earnings reflected the much needed recovery in exports as well as increased demand for clothing worldwide as the Covid-19 situation is improving. However, the increased freight cost and yarn price has also inflated export earnings to a certain extent," said Mohiuddin Rubel, a director of BGMEA.
Team Group Managing Director Abdullah Hil Rakib said some buyers were offering lower prices despite the increased costs.
"As an association, we are requesting manufacturers to negotiate for ethical prices," said Rakib, also a director of BGMEA.
"Retail outlets have reopened and online stores are also enjoying good business, which is why our buyers are asking us for quick shipments to respond to consumer behaviour. They are also purchasing extra products as their inventory was very low from last year…," he added.
Echoing Rakib, Leather Goods and Footwear Manufacturers and Exporters Association of Bangladesh President Md Saiful Islam said due to the pandemic, retail price of leather products had dropped almost 60%, but now it had increased by 20-25% compared to earlier.
He said across the globe, raw material prices and freight costs were increasing, but maintaining previous prices due to previously purchased stock of raw materials had made Bangladesh's export market more competitive.


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Fragrance and flavouring producer Treatt has slashed its revenue forecast blaming deteriorating client confidence within the US and price inflation, sending its shares down almost a 3rd on Monday.
The firm revised its expectation of pre-tax revenue to between £15mn and £15.3mn within the 12 months to September, a big discount from a beforehand anticipated £21.7mn.
The firm, which manufactures pure extracts and components for the beverage, flavour and perfume industries, stated it was “experiencing significant input cost inflation”, solely a few of which it had been in a position to move on to clients given the character of sure long-term contracts.
Nestlé, Kraft Heinz, Danone and Unilever have all elevated product costs this 12 months, as they grapple with the surging price of uncooked supplies. Inflation can be weighing on strange shoppers, with US retail big Walmart issuing a revenue warning final month saying that meals and gas inflation was “affecting how customers spend”.
Treatt additionally blamed the downgrade on a drop in US gross sales in its excessive margin tea class, following a success to client confidence. Tea revenues fell 41 per cent within the first half in contrast with final 12 months. Currency swings and the weakening of the pound had been one other issue.
Shares had been down 30.7 per cent to £5.56 in early London buying and selling.
Treatt’s chief govt Daemmon Reeve stated the corporate was “clearly disappointed by the short-term impact on profitability” however added that regardless of the hit to the tea enterprise there was progress in different classes due to the demand for pure extracts in drinks. Consumer urge for food for more healthy merchandise has pushed a lot of Treatt’s progress lately.
The group additionally stated it had been hampered in China, a comparatively new market by which it established a subsidiary a 12 months in the past and that accounts for five per cent of group income, due to its in depth Covid-19 restrictions.
“Clearly this is disappointing short-term, but there continues to be plenty of potential,” analysts at Peel Hunt wrote in a observe.


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Meghan Markle recently appeared in an Instagram ad for Clevr Blends coffee, portraying a diligent intern while CEO Hannah Mendoza gave a virtual tour of the company’s headquarters. In the video, Mendoza praised the Clevr team while humorously showcasing Markle “lovingly packing lattes” and being part of the digital team.
Meghan Markle stars as intern in bizarre ad for coffee company Clevr
— 𝓜𝓾𝓻𝓴𝔂 𝓜𝓮𝓰 (@MurkyMegPodcast) December 20, 2023
However, this ad featuring Markle faced criticism from several Instagram users. Some sarcastically commented on her role, referencing her previous status as a Duchess and her transition to a more common role in an advertisement. Criticisms included remarks about her apparent shift from royal duties to a commercial for coffee.
— 𝕋𝕙𝕖 𝕎𝕒𝕟𝕥𝕠𝕟 𝕎𝕖𝕟𝕔𝕙 (@TheWantonWench) December 20, 2023
Conversely, there were also supporters who found entertainment in her appearance and praised her acting, noting her past work in the TV series “Suits.” Some commented positively on her multitasking abilities and her commitment to supporting female founders and sustainable sourcing.
The Instagram ad featuring Markle aligns with rumors suggesting her potential return to Hollywood. Markle has been involved with Clevr for several years, showing enthusiasm for the product and its values, becoming an investor, adviser, and advocate for the brand’s sustainability initiatives and food justice programs. These recent appearances in Clevr’s promotions are speculated to be part of her strategic planning for a return to the entertainment industry.


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BlackBerry has launched a new smartphone that’s designed as a potential upgrade for BlackBerry Bold and BlackBerry Curve users.
The company says its new BlackBerry Classic - which has a physical QWERTY keyboard and trackpad - offers 60% more screen space, a 50% longer battery life and a faster browser than the BlackBerry Bold 9900. However, it’s worth noting that the BlackBerry Bold 9900 was launched in 2011.
Specifications include a 3.5-inch touchscreen display, a 1.5GHz Qualcomm processor, 16GB of expandable storage, a 2 megapixel front-facing camera and an 8 megapixel rear-facing camera.
BlackBerry’s Classic will run the BlackBerry 10.3.1 operating system, which includes the BlackBerry Blend productivity service and the speech-controlled BlackBerry Assistant feature.
John Chen, Executive Chairman and CEO at BlackBerry, said “We listened closely to our customers’ feedback to ensure we are delivering the technologies to power them through their day – and that feedback led directly to the development of BlackBerry Classic. BlackBerry Classic is the powerful communications tool that many BlackBerry Bold and Curve users have been waiting for. It’s the secure device that feels familiar in their hands, with the added performance and agility they need to be competitive in today’s busy world.”
This new device is compatible with the BlackBerry World application store and the Amazon Appstore as well.
UK pricing is £349.00 incl. VAT SIM-free, with availability due mid-January 2015.


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Fans of the McDonald's Monopoly competition have welcomed its return, but some customers have been taking advantage of the popular game to come up with money-saving tricks. And according to recent footage shared on social media, some sneaky fans have even been able to get hold of free food.
In one video, a customer is seen using the codes issued on Monopoly game stickers to get free Mcflurries and McMuffins from the self-service machines in stores.
"You go type whatever code you want, you confirm your order and it prints out a receipt," Dylan, from Student Vlogs, explained in his YouTube video. "If you say you haven't got your voucher, they let you off."
The video was shared after people went crazy for another rumoured hack, shared on Facebook by Ryan Swain. According to his post, asking for a free tap water means you'll be given extra Monopoly stickers, which offer customers the chance to win prizes at no extra cost.
However, don't be tempted to rush to McDonalds for freebies just yet – it's not likely that either of these money-saving hacks is going to work.
"Requests for tap water during the Monopoly promotion will be dispensed by restaurant colleagues in non-promotional cups," a spokesperson told Digital Spy. "These do not carry any of the stickers."
As for the self-service trick? That hack has been prevented, too.
"Restaurant teams have been reminded that vouchers are required at Collection Points and if customers do not have a physical one, they are not eligible for the food item being claimed," the brand added.


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After many years of unhindered growth the UK online gambling industry is facing a tough future. A cross party group of MPs is seeking to tighten regulation and tackle problem gambling by restricting deposits and stakes and limiting features that encourage fast, high stakes play on games like slots and roulette.
In this article we look at the proposed changes and their likely impact on an increasingly embattled sector.
Online Casino Slots and Roulette
The UK regulator, the Gambling Commission, is currently carrying out consultations to seek opinions from consumers and industry professionals on high value customers and game design. Those who have suffered from gambling addictions have described how special features like Turbo Play and Auto Spin, as well as the ability to play more than one slot simultaneously on one screen, aggravated their compulsion and caused them to spend more money in a shorter space of time.
They have also highlighted irresponsible marketing tactics from online casinos and sportsbooks who aggressively target high value customers with free bets and cashback offers when they lose, in an effort to keep them spending money.
Recommendations from committees in both the House of Lords and the House of Commons have included banning VIP programs entirely and reducing the maximum stake on slots from over £100 to a flat £2. New rules would also remove all turbo and auto functions, as well as animations celebrating wins with less value than the stake.
When news broke of plans to reduce stakes sizes, millions were wiped off the value of betting companies in the UK, and should these additional recommendations be implemented then businesses will take a massive hit. It is widely known that all casinos generate most of their profit from a small number of big spending gamblers, and these proposals would impact those players the most.
Marketing and Advertising on TV and Social Media
Since the 2005 Gambling Act in the UK the industry has enjoyed incredible growth fuelled by liberal legislation, technological advancements and massive advertising spend. Gambling is everywhere in the UK, and in particular advertising is prolific in sport. More than half the teams in the English Premier League are sponsored by casinos or sportsbooks and advertising on TV is intense. And equally online it is hard to get away from banners and text ads offering free bets or free spins on the latest games.
Critics of the industry say that the proliferation of ads has led to the ‘normalisation’ of gambling. A culture in which from a very young age, people in the UK are exposed to gambling without any acknowledgement of the risks involved.
A new Gambling Act will seek to restrict how, when and where gambling firms promote their brands and their offers on TV and online. In particular it has been proposed that Premier League clubs will no longer be permitted to seek sponsorship deals with casinos and sportsbooks, and advertising around games will be banned. Online, social media may no longer be a legal forum in which to place ads either. Furthermore, marketing messages that include free bets and bonuses may be banned entirely.
Measures like these impact both the gambling firms and the marketing agencies who deliver the creative and place the ads. Another marketing sector likely to be affected by a new Gambling Act is affiliates. These are listings websites that review and rate the latest slots sites, sportsbooks and casinos, and refer traffic to them in return for commission fees. MPs are calling for affiliates to be licensed to hold them to account for their messaging and content.
The additional cost of licenses, as well as reduced commissions brought about by reduced profits for gambling firms overall, may put many of these small businesses at risk too.
It is not clear yet how many of these proposals will be part of the new Gambling Act. What is clear is that new regulation will be brought in during the term of the current parliament, and likely in the next 12 months.
The industry is bracing itself for changes that will impede its ability to generate revenue in the way that it has in the last two decades, and the big firms like GVC and Paddy Power Betfair are already setting their sights on the US market and establishing themselves there in a bid to offset lost profit in the UK in these uncertain times.
You may be interested in: “Gambling Commission Announces Tougher Rules for Lockdown Betting”


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Amazon Web Services and VMware are in talks about potentially teaming up on developing a data center software product, The Information reported, citing anonymous sources.
No details about what that product would be are available at this point, but VMware’s value for AWS is its enormous enterprise data center install base, while helping customers create and run environments that combine their on-premises data centers with one or multiple public cloud providers is currently the big business focus for VMware. Its VP John Gilmartin told us that much in a recent interview for The Data Center Podcast.
All that makes it very likely that the product being discussed would focus on hybrid cloud capabilities. The two companies already have a partnership in place, announced last year, whose goal has been to help enterprises easily integrate their existing VMware environments with AWS. Under that partnership, VMware will essentially sell a set of tools that will enable its customers to manage AWS the same way they manage VMware on-premises. VMware CEO Pat Gelsinger said at the time that this would be “the primary public cloud offering of VMware.”
Last year’s announcement was one of the rare acknowledgements by AWS that hybrid cloud is the preferred way forward for most enterprise IT shops. Its messaging has traditionally treated hybrid cloud as a stepping stone in transition to an all-cloud infrastructure.
Microsoft’s hybrid cloud strategy now rests on Azure Stack, its on-premises software stack that integrates with its public cloud and gives users some public cloud-like features in their own data centers. The product started shipping just this month.
Google’s boldest move in the area to date has been its recently announced partnership with Nutanix, one of the hottest hyperconverged infrastructure vendors in the market. The partners promise customers an easy way to “fuse” their on-premises Nutanix infrastructure with Google Cloud Platform.


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As Longchamp opens its eighth Hong Kong store, its chief executive says the French accessories brand’s sense of fun helps set it apart from its rivals
In the luxury world models are never usually smiling,” says Jean Cassegrain, chief executive of luxury French accessories brand Longchamp. “In our advertising campaigns you will notice that Coco Rocha [the face of Longchamp] is smiling.”
And Cassegrain is smiling too as he welcomes Drapers to the brand’s newest flagship boutique in Hong Kong, on the eve of its official launch day.
The opening is Longchamp’s eighth in the Hong Kong region and its 237th worldwide, although since the interview the brand’s expansion has continued apace – it has gone on to open a store in São Paulo, Brazil, taking its total to 238.
But with seven stores in Hong Kong already, what’s so special about this particular opening? Not only is it one of the brand’s two biggest stores in the region, standing at just over
4,300 sq ft and spread over three floors, but it also happens to be on Canton Road, the fourth most expensive shopping street in the world in terms of retail rents.
In fact, in a report by property agents Cushman & Wakefield, Hong Kong locations appear three times in the top 10 global locations for highest retail rents in the world, claiming the second, third and fourth spots, behind New York’s Fifth Avenue.
However, Cassegrain says a space on Canton Road is a luxury worth investing in: “This street is the best street for luxury shopping in Hong Kong and for a lot of the brands [with stores here], this is their number one shop in the world.”
And he’s not wrong. Longchamp has some pretty impressive neighbours on Canton Road with Burberry located next door and other luxury brands including Louis Vuitton, Prada and Gucci a stone’s throw away.
“Hopefully this will become our number one store worldwide. If not immediately number one, it should be in the top three for us pretty quickly,” says a confident Cassegrain. Given the excitement surrounding its opening and the impressive nature of the store, the brand obviously has high hopes for it.
With its imposing 2,045 sq ft facade, which looks out onto Canton Road and allows natural light to flood each of its three floors, Cassegrain likens it to a giant billboard for the brand that allows it to compete with the luxury powerhouses that line the street.
Designed and created by architect Eric Carlson, the shop is the latest expression of the brand’s global store design concept, which it launched in 2010. Every detail has been thought about right down to the coloured solid glass panels that rise up the central staircase, which are designed to recreate the rainbow of colours that Longchamp’s iconic Le Pliage bag is available in.
However, despite the high costs associated with opening the Canton Road store, Cassegrain says he expects it to break even within six months or less.
Which is hardly surprising, since Longchamp turned over €390m (£320m) in 2011 and grew 22% last year. Not bad for a brand that started life making leather covers for tobacco pipes back in 1948.
Hong Kong is an important market for the brand. Despite originating close to the Longchamp racecourse on the outskirts of Paris in 1948, it was in fact Hong Kong, not France, where the brand opened its first standalone store back in 1979.
“At that time we were manufacturers and back then in the 1970s it was not common as it is now to have your own store with your own brand name,” explains Cassegrain.
“Before we opened in Hong Kong we were only selling through a network of independent retailers but it was here that we had the first shop with the Longchamp name on it.”
Today, Asia represents 22% of Longchamp’s business in terms of turnover and according to Cassegrain remains an important part of its growth plan.
“Mainland China in particular is part of our growth strategy,” he says. “In mainland China we currently have 14 shops but we [aim for] about 30 or 40 in the next few years.
“We are also working on some new regions and some other emerging countries like Brazil. We have a lot of growth potential in [Brazil] and we have also got the newer countries as well, places like Colombia and Saudi Arabia.”
But what about the UK? Cassegrain, who is actually the grandson of Longchamp’s founder, also called Jean Cassegrain, insists the UK remains a key market for the family-run French business.
“The emerging markets are important but even in mature markets like Europe, the US and Japan we still have growth potential,” he says.
It’s a sentiment shared by Nigel Blow, chief executive of Irish department store Arnotts, who has witnessed phenomenal growth with the brand since the store opened a dedicated Longchamp shop-in-shop at the end of last year.
“Since we launched a Longchamp boutique in our Accessories Hall in November 2011 we’ve seen a sales increase of more than 150% year on year,” he says. “The brand is extremely popular and one of the top accessories brands here in the store. It trades consistently well throughout the year.”
When Drapers presses Cassegrain about which product categories sell best in the UK, he insists there is very little difference in what makes the best-seller list worldwide.
The brand’s famous folding Le Pliage bag is said to be the best-selling bag in the world, having sold 3 million units globally last year, and is still a popular choice in the UK. The brand also launched ready-to-wear clothing in 2006 and footwear in 2010 in order to ensure it branches into new areas.
Longchamp signalled its commitment to the UK with the opening of a store in London’s Westfield Stratford development earlier this year and also plans to refurbish its Bond Street flagship next year as well as opening a store on Regent Street. Cassegrain also said he would not rule out the possibility of opening standalone stores in other UK cities.
“There are no plans for other cities in the UK at the moment,” he says. “Just now we are focusing on improving our brand presence in London, but in the future I don’t see why not.”
“We’ve stocked Longchamp for many years and it has always been a favourite with our customers,” he says. “Our customers recognise Longchamp as an internationally renowned luxury brand. They love its strong heritage, the quality and functionality of the product and find it a stylish yet very accessible brand.”
It is this accessibility that Cassegrain believes is one of the secrets of Longchamp’s success globally. “The French woman has a lot of appeal across the world for casual elegance and effortless style,” he says. “I would say our style is that little bit more relaxed than what some other luxury brands are putting forward.”
Returning the conversation to the brand’s latest ad campaign, he says: “It is deliberate that in our adverts we have Coco Rocha smiling. The adverts are fun with a touch of humour and it is those elements, along with our Frenchness, that I think distinguish us from other luxury brands.”


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Earlier, the restrictions were imposed till October 31 this year.
New Delhi: The government has extended restrictions on sugar exports till October 31 next year, a move aimed at increasing availability of the commodity in the domestic market.
“Restriction on export of sugar (raw, refined, and white sugar) is extended beyond October 31, 2022 till October 31, 2023, or until further orders, whichever is earlier. Other conditions will remain unchanged,” the Directorate General of Foreign Trade (DGFT) said in a notification dated October 28.
However, it said these restrictions will not be applicable on sugar being exported to the EU and the US under CXL and TRQ duty concession quotas. A specified amount of sugar is exported to these regions under CXL and TRQ (tariff rate quota).
India has been the highest producer and the second largest exporter of sugar in the world in the current year.
An exporter would require a licence or permission from the government to export sugar, which is under the restricted category.
The country’s sugar production is projected to be 36.5 million tonnes in the 2022-23 marketing season, an increase of 2 per cent compared to the year-ago period, industry body ISMA has said.
The production in India stood at 35.8 million tonnes during the 2021-22 marketing season. The season is from October-September.
With an estimated increase in production despite higher diversion for ethanol, ISMA expects export to be around 9 million tonnes this season.
Releasing the first estimate, the Indian Sugar Mills Association (ISMA) said “after accounting for the reduction of 45 lakh tonnes in sugar production due to diversion of cane juice/ syrup and B-molasses to ethanol, ISMA estimates sugar production in 2022-23 at around 36.5 million tonnes of sugar.”
On exports, the industry body has said that the window for exports appears to be quite short for Indian sugar this year as Brazilian sugar will hit the global market by May 2023.
Further, most mills have already contracted sugar for export supplies in the current season. So, an early announcement of sugar export policy by the government should be highly appreciated, it added.
Sugarcane crushing has started in the southern region and is expected to start soon in other regions. Therefore, a better picture would emerge after a few months when actual trend of yields and sugar recoveries would become available.
As has been the practice, ISMA will again review the sugarcane and sugar production estimates in January 2023.
The government has been continuously monitoring the situation in the sugar sector, including production, consumption, export as well as price trends in wholesale and retail markets all over the country.


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City seeks businesses for Small Business Saturday
The city of Dunkirk’s Planning and Development Department is seeking local businesses to participate in Small Business Saturday activities on Nov. 24. Small Business Saturday is a national celebration that encourages shoppers to patronize local stores.
“Local businesses are so important to Dunkirk’s economy,” said Planning and Development Director Rebecca Yanus. “Every dollar spent at a local business provides a much greater economic impact than a dollar spent at a non-local business, which helps create jobs and increases our tax base. Small Business Saturday is a great opportunity to highlight the amazing small businesses in our community.”
Local businesses are encouraged to have promotions, special events, or workshops to draw shoppers into their stores. The Planning and Development Department will create and distribute marketing materials to encourage shopping at participating businesses and will host an event on Nov. 24 at D&F Plaza to celebrate Small Business Saturday.
Businesses that wish to participate, either at their own store or as a vendor at the event at D&F Plaza, should contact Community Development Planner Matthew Bourke at 366-9878 or email@example.com.


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What is better than chocolate?
How about free chocolate.
Hershey’s Chocolate World will be giving away s’mores and melted hot chocolate on Fridays, Saturdays and Sundays, Sept. 24 through Oct. 17 as well as on Monday, Sept. 27.
Each of those days at 11 a.m. Hershey’s will give away 100 s’mores and at 3 p.m. will give away 100 melted hot chocolates at the “Chocolate Meltdown: Hershey’s After Dark” kiosk. Hershey said the treats were “inspired by experiences from the show.”
“Chocolate Meltdown: Hershey’s After Dark” is a new four-episode series in which pastry chefs create “mind-bending chocolate showpieces.”
The show will debut at 10 p.m. Monday, Sept. 27.
A winner will be named at the end of each episode. Each winning chef will receive a year’s supply of Hershey’s candy, a Hersheypark vacation and $10,000.
“Host Sunny Anderson challenges contestants to take chocolate creations to the next level, using Hershey favorites such as Reese’s Pieces and Twizzlers Twists within Hershey’s largest candy store, Chocolate World while riding coasters and completing challenges in Hersheypark. And once the clock runs out, judges Ralph Attanasia and Maneet Chauhan determine which contestant masterfully molded their favorite Hershey treats into a true work of art, crowning a champion at the end of each episode.”
The show was filmed after hours last year in Hersheypark.
Visitors to Chocolate World will find a “Live on Set! Chocolate Meltdown: Hershey’s After Dark” photo opportunity. Guests can take photos with an exact replica of the show set.
Hersheypark In The Dark will open for three weekends starting Oct. 15 and running through Oct. 31. The park will be open 5-9 p.m. Fridays and 2-9 p.m. Saturdays and Sundays. Lights-out rides will be offered on five of the park’s rollercoasters. ZooAmerica North American Wildlife Park will host the Creatures of the Night program.
Kids can trick or treat inside the park along the Trick or Treat Trail that winds from Chocolate World to the Boardwalk in the park. Children age 12 and younger can visit each stop to receive candy.


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Story of the Day:
Urban – train strikes set to cost us between £4m and £5m, we moved both food and drink pricing by about 5% this year: Phil Urban, chief executive of Mitchells & Butlers, has said the train strikes scheduled to take place next week are likely to “cost us between £1m and £2m of sales we would have had” but he’s “cautiously optimistic” London will still be busy. He estimated each strike day was costing the company's city centre pubs £300,000 with an overall cost to the business of between £4m and £5m. He told Propel: “Don’t forget everyone optically will have a great Christmas whatever, because it's up against the Omicron period. You're going to see some very big numbers from everybody in terms of growth. I think what everybody's working out is what it would have been if there weren't strikes and having strikes in what arguably is going to be the busiest week in London is very disappointing. It’s very ill-timed given what the sector has been through over the last couple of years, and it's going to cost a lot of sales. On the previous strikes we've seen to date, our City division has probably lost £300,000 to £400,000 every time there's a strike in terms of sales. We pick a little bit of that up in the suburbs, and being nationally spread we are a little bit hedged but you never pick up all what you would have got. But obviously next week will be one of the busiest weeks of the year, so it might alone cost us between £1m and £2m of sales we would have had. That said, I'm still cautiously optimistic that with the tubes still running and people not having had a Christmas party for years, London will still be busy.” Urban said the company’s supply chain was holding up “superbly well at the moment”. He said: “We've got more than 99% fulfilment, which is back to normal. Compared with where we were last year it is light years better.” On pricing, he said the business would take stock in the spring. He said: “Most of our brands change menus twice a year, once in the autumn and once in the spring. We've just had that round. At the same time, we do a liquor price survey and move liquor prices. So, we've moved both food and drink by about 5% this year, which is a couple of percent higher than normal, obviously nowhere near headline inflation, and so far, absolutely it has had no negative impact on our consumers at all. We will go again in the spring and have the opportunity to take stock then to see what we need to move by.” Urban said he was “cautiously optimistic about the start of next year”. He said: “If you take Christmas out, which is always going to be a headline strong performance because of Omicron, October and November we're probably stronger than we thought they would be, which is really encouraging. And I don't necessarily see once Christmas is out the way, why we shouldn't return to that. So, I'm hopeful we will come through January and February reasonably unscathed really. We sell gift cards, particularly in Miller & Carter, and every year we sell more and more. We’ve sold more this year and they tend to get redeemed in January. There's no denying that come January when Christmas has got to be paid for and energy costs are at the highest and food bills are high, it's going to impact on our guests. But I would say in October and November, some of those things were supposed to be the case and we haven't seen that impact.” Nicholson’s is our strongest performer at the moment – see Company News
Venture Group Tenerife to speak at Restaurant Marketer & Innovator European Summit 2023, full speaker schedule to be revealed today, open for bookings:
Jodi Beard, innovation director at Venture Group Tenerife, will speak at the Restaurant Marketer & Innovator European Summit 2023. The event is a partnership between Propel and Think Hospitality, aiming to build a community, promote the sharing of ideas, recognise talent and define the future of eating out. Bookings are now open for the two-day conference as the centrepiece of the January event series, taking place on 24 and 25 January at One Moorgate Place in London. Beard explains how the business is balancing efficiencies with customer experience in delivering effective technologies. More than 50 industry and agency leaders will take to the stage over two days representing brands including Cornish Bakery, Hawksmoor, Burger King UK, The Alchemist, Gail’s Bakery, Searcy’s, Press Up Hospitality Group, Vapiano, Popeyes UK, Inception Group, Oakman Group, New World Trading Company, Peggy Porschen Cakes, Krispy Kreme, KellyDeli, Tattu Restaurants, Red Engine, East Coast Concepts, Coco di Mama, The Cocktail Club, Hilton, Elior, Flat Earth Pizzas, MJMK, Lollipop, Chotto Matte, Ping Pong, Nobu, Gusto Italian, BrewDog, Kaleido, Darjeeling Express
and Six by Nico
. The full speaker schedule will be revealed today (Thursday, 8 December), at 9am. Day one themes will be consumer and sector trends, start-ups, concepts and creativity and digital evolution, while day two focuses on purpose and responsible business, strategies for growth and communication and culture. Tickets for operators for the two days are £600 plus VAT and £350 plus VAT for one day. Tickets for suppliers are £950 plus VAT for the two days and £525 plus VAT for one day. Tickets can be purchased by contacting Jo Charity at Propel on email@example.com
Hospitality workers set to lose £15m in tips due to rail strikes: UK hospitality workers are set to lose out on £15m in tips due to rail strikes scheduled in December, according to cashless tipping platform Tipjar. An average loss of 17% in tips for sector staff was reported by Tipjar during the rail strikes in October and November, and it believes this loss will be equivalent to roughly £15m lost in tips in December alone, as the national tipping market is worth £3bn a year. Ben Thomas, Tipjar chief executive and co-founder, said: “The impact that extra £35-£40 has on those that are more vulnerable in our industry is huge. It could be the difference in someone being able to feed their families or giving their kids presents at Christmas. While we align with workers speaking to improve pay and conditions, our job is to represent some of the lowest-paid workers whose income is directly related to footfall in their pubs and restaurants. This strike action could have a devastating effect on hospitality workers.”
UKHospitality launches guide to recruiting ‘untapped potential’ of over-50s: UKHospitality has launched a guide to help businesses adapt their recruitment practices and engage with the over-50’s in the job market. The guide has been developed in partnership with the government’s over-50s ministerial taskforce. It highlights job adverts should ensure imagery is age diverse and includes older workers, use language that doesn’t deter older workers, and emphasise employer benefits that may appeal to an older worker, such as flexible working. The guide suggests recruitment efforts should also be targeted where older workers are more likely to see them. This includes job boards targeted at older workers, using social media platforms like Facebook and physical advertising, such as on bus stops. The guide also advises adaptions to the workplace to ensure over-50s feel “valued and comfortable”. This could include adapting uniform policies, offering the opportunity to advance their skills and highlighting opportunities to progress. UKHospitality chief executive Kate Nicholls said: “With hospitality continuing to deal with staffing challenges, it’s essential businesses do all they can to appeal to everyone in the job markets. For far too long, the over-50s have been under-represented in our workforce but there is real untapped potential there to fix our workforce challenges. There is so much hospitality can offer, with its flexible working hours and the social element to our sector, and we need to get this message out there. These are simple steps that businesses can take but it has the potential to deliver many times over.” An additional one million workers over the age of 50 are expected in the UK workforce by 2025.
PM confirms registration scheme to tackle short-term lets: Prime minister Rishi Sunak has committed to delivering a new “tourist accommodation scheme” that will ensure short-term lets have to register with local authorities. In response to a question by Conservative MP Nickie Aiken, Sunak also confirmed the government will consult on planning permissions for new short-term holiday lets in tourist hotspots. UKHospitality has campaigned for years for the introduction of a registration scheme in England to cover short-term lets that brings them in line with the rest of the industry, in particular on tax and health and safety standards. Chief executive Kate Nicholls said: “The astronomical rise of short-term lets, through home-sharing platforms, meant legislation and regulation was not able to catch-up quickly enough and these sites have been operating without the oversight or tax obligations as the wider accommodation sector. It’s essential this registration scheme can be properly enforced and can help bring short-term lets up to the high standards of our hotels, which abide by strict fire safety, health and safety, and accessibility rules. It’s crucial the entire sector is operating to the same standards, for the good of business, the economy and the customer.”
Job of the day: COREcruitment is working with a food manufacture that provides across the UK and Ireland that is seeking an account director. A COREcruitment spokesman said: “You will join a highly collaborative business and forge strong relationships across both internal and external stakeholder teams for a portfolio of corporate client accounts. You will be responsible for both the tactical and strategic development of these accounts and other key initiatives. You will be specifically accountable for ensuring the delivery model remains in line with the customers’ needs, managing resource, compliance and risk, and developing the communication and relationship strategy.” The salary is up to £90,000 and the position is based in London with some national travel. For more information, email firstname.lastname@example.org
Urban – Nicholson’s is our strongest performer at the moment, it’s a good time to have brands: Phil Urban, chief executive of Mitchells & Butlers, has said the group’s drink-led, city centre-based brand Nicholson’s was the company’s best performer at the moment, whereas previous star performer Miller & Carter is showing the lowest growth. He told Propel: “As always, our wet-led businesses and sports pubs are doing incredibly well from the World Cup to the detriment of some of the restaurants. If we take Nicholson’s, a year ago that was doing really poorly, but it’s our strongest performing brand at the moment. If you look at London, then the West End is doing better than the City, but London in general is doing well. Friday nights were the poorest because of work from home but they have been gradually improving. We are annualised against that work from home message, suddenly Fridays are looking really good again. They're not back to where they were but total year-on-year they are looking good. Ironically, a brand with the lowest growth right now is Miller & Carter, which has led the way for the seven years that I have been with the business. It’s only lagging because it's compared against 12.5% VAT. If you normalise VAT, it is still in good growth. Once it gets through the anniversary of the VAT going back to 20% then it'll be fine.” Urban said he thinks there is an element of people wanting brands they “know and rely on right now”. He said: “So, something like Toby Carvery, which is flying, you can sort of see why because it's great value, it's fresh and all those sorts of things. It’s a good time to have brands because you can dial up people's knowledge of and love for your brands and I think people are buying into them.” In terms of converting sites to new brands, Urban said his focus at the moment is on Browns. The company has recently converted two suburban sites in Beaconsfield and Ruislip to the brasserie and bar brand. Urban said: “We see the potential to grow that business quite considerably, which will therefore buy down some of the other bigger brands. I think we'll have more to say about that at the half year and will know where Browns is and what our plans are. We've got two or three sites we are looking at, but I think we will be clearer on where the potential pipeline is and therefore what it means for the other businesses. As I hoped and expected, the first two got off very well. So, I suspect we'll probably assess this at the end of February and I suspect our conclusion will be they've worked and then we'll move into how do we start to move this on.”
Rockfish founder focusing on ‘seeing out the storm’, current trading good despite region suffering from reduced footfall: Rockfish founder Mitch Tonks has told Propel he is focusing on “seeing out the storm” and the next three openings for his 11-strong sustainable seafood restaurant concept. “Our focus is on the next three sites while waiting for the world to get back to normality, but I think at some point we might move east, and I can see a time when we have Rockfish dotted in different places,” Tonks told Propel. “But at the moment it’s about caution and running world class seafood restaurants while letting the storm around us we can do nothing about die down, then reset our business plans from there.” Of next year’s openings, Topsham is set to come first in the early part of 2023, followed by Sidmouth and then Salcombe later in the year. Tonks was speaking following the release of Rockfish’s results for the year ending 30 April 2022, which saw the company, ranked as one of the UK’s top 100, return to profit, with a pre-tax profit of £155,989 compared with a loss of £1,017,962 in 2021. This was off turnover of £13,362,319, which was more than double the £5,224,390 reported in 2021. Group Ebitda also recovered from a £223,000 loss in 2021 to a £993,000 profit. “Coming out of a recovery year from covid with a strong set of results was good – it was challenging, but still positive trading conditions,” said Tonks. “Current trading has been good, and while the south west has experienced less footfall than last year as you’d imagine, our restaurants have been very busy.” One of the main reasons for the uptick, said Tonks, was taking control of his supply chain by acquiring two of its main suppliers, Brixham Seafish and Hillside Foods. “For a seafood restaurant, we rely on a great supply of quality seafood, so being able to buy it first hand at the quayside and get it straight into restaurants means we can work with seasonal produce at its best and secure the best pricing,” he added. “If we were buying from a third party and absorbing everyone’s price rises into our business, I think it would be very difficult. We’ve spent the last year integrating those business into our restaurants and they’re building good momentum – the supply is second to none. Inflation has been the challenge, as with most business, but because we own and control our own supply chain, we’ve been able to very quickly mitigate a lot of the inflation that came our way.”
London Pakistan-inspired cafe concept opens first franchise site, 20-plus more stores and territories secured: London Pakistan-inspired cafe concept Naan Staap has opened its first franchise site, with 20-plus more stores and territories signed for and set to open over the next three to five years. Founded in 2018 by Zohaib Shahnawaz, the concept – which offers freshly baked stuffed naan, cakes, cookies and chai – has expanded to five sites in the capital. It has now launched to the UK franchise market and opened its first franchise site, in Gants Hill. Shahnawaz said: “Since our inception in December 2018 when we opened our first branch, we knew potentially that we had a great new concept business model in the UK. It is based on one very important staple food that was being ignored – naan bread – along with our karak chai. Coupled with the flavours of the west, a unique idea was born. While opening our own stores, our first franchisee has opened in Gants Hill, meaning the dream we have is now coming into fruition, with more to follow.” The franchise model can be rolled out in kiosk or cafe format, with a trading area of 800-1,500 square feet, and multi-unit investors welcomed. The company’s move into franchising is being led by Andy Hulbert, who has been named vice-president of international restaurant development for Arizona-based Summa Franchise Consultancy. The newly created role will see Hulbert focus specifically on helping food and beverage brands move out of the US and into new international markets. Hulbert most recently served as managing director at Bee Smart, securing the international expansion of UK bubble tea concept Cupp among others.
Andrea – returns on Two for One conversion work has been ‘quite eye-watering’, to invest a further £4m on outside areas: Andrew Andrea, chief executive of Marston’s, has told Propel that some of the returns from its work on converting its Two for One estate have been “quite eye-watering”. He also said a key learning from the process for the business was “how do we ensure we don't permit something to become a bit of a sacred cow and not deal with it”. The removal of the company’s 75-strong Two for One estate from its portfolio was completed in September. Andrea said: “What's fascinating is having just simply taken the signage down and removed the offer, you're getting positive customer and team feedback. and ultimately the teams have got to be happy with what they are delivering. So, we've seen the narrowing of the sales growth there. What we've also identified is about a third of those 75 pubs looked too much like a restaurant. So where we've put some money in – less than £100,000 – just to say here is a drinking area, here is an eating area, the returns on that have been quite eye-watering. The learning for us is how do we ensure we don't permit something to become a bit of a sacred cow and not deal with it, when actually, the insight and the data was probably telling you what you needed to do. What's brilliant is just going out to the pubs and seeing the teams love what we have done, and that tells you a lot.” In its full-year update, the company said it had invested in outside space with circa 85% of its pubs having gardens and circa 50 pubs having outdoor screens to show sport, which would enhance trading performance throughout the seasons. Andrea said: “Order and pay at table systems are key to driving garden sales and we invested in technology during the year to improve both the guest and operational journey. Encouraged by the 2022 performance, we believe our outdoor spaces can be enhanced further by investing £4m across the estate in 2023 on garden projects to deliver an even better guest experience.” At the end of 2020, SA Brain announced contracts had been exchanged with Marston’s to operate its portfolio of 145 pubs in Wales on a combination of leased and management contract arrangements. Andrea said the business remained open to similar deals. He said: “Clearly what I'm not trying to wish for is business failures because a lot of great businesses are struggling for reasons outside their control, but if opportunities do present themselves, then we're open and they can be single sites or up to a Brains-style transaction.
Ennismore adds 144 hotels to pipeline as it launches expanded interior and graphic design team: Gleneagles and Hoxton hotels owner Ennismore has added 144 hotels to its openings pipeline, as it launches an expanded team of interior and graphic designers. The business, which already operates 14 brands over 103 hotels and 190 restaurants and bars, has introduced a specialist 30-strong design team called Aime Studios. It will be one of four specialised in-house studios in the Ennismore estate, sitting alongside food and beverage studio Carte Blanched, digital product and tech innovation studio Staymore and global brand building studio Partnership Studio. Formerly known as Ennismore Design Studio, it has expanded to include graphic design. Since 2017, the studio has worked across 12 brands and 22 properties, designing 2,865 hotel rooms, 30 restaurants and bars and 17 meeting and events spaces. Its projects have included Gleneagles, Gleneagles Townhouse, The Hoxton, Working From_, Tribe Identity and Tribe Canary Wharf. Sharan Pasricha, founder and co-chief executive of Ennismore, said: “I’ve had the privilege of having an in-house design and creative team ever since I started Ennismore over ten years ago, and it’s fantastic to see Aime Studios today playing a vital part in what sets us apart, creating authentic and inspiring hotels for both locals and international guests. Our designers have been integral to building our brands, ensuring each hotel remains true to the original brand vision.”
Gail’s starts to build north west openings pipeline: Fast-growing bakery brand Gail’s, which earlier this week announced it would open its first site in the north west early next year, has begun building its openings pipeline in the region. The Bain Capital-backed business, which opened its 100th site at the end of October, in East Sheen, will make its north west debut in the Cheshire town of Wilmslow, early next year. Propel understands Gail’s has also submitted a planning application to convert the former La Boutique d'Or site in King Street, Knutsford. The brand also submitted plans in September to fit the former White Stuff unit in Manchester’s King Street to transform it into a café, but the application is still pending a decision. Gail’s sister-brand and wholesale bakery, The Bread Factory, opened its Manchester bakery in Openshaw in 2017. The company has recently opened new sites in London’s Holborn and East Dulwich, with a further opening planned in Gerrards Cross, Buckinghamshire.
The Inn Collection Group acquires Morecambe hotel to take estate to 35 sites: The Inn Collection Group has strengthened its presence in Lancashire with the acquisition of the Midland Hotel in Morecambe. The company has bought the property for an undisclosed sum from the Clitheroe-based charity, Lancaster Foundation. The Midland is The Inn Collection Group’s third acquisition in Lancashire and joins The Lindum and The Carlton in Lytham St Annes, which are currently undergoing renovations and conversion into a 99-room single site. It is also the group’s fourth acquisition since the start of October, having completed a pair of deals to take over properties in North Wales – The Bull in Beaumaris and the St Kilda Hotel in Llandudno – and expanded its presence in Cumbria with the purchase of The Wordsworth Hotel in Grasmere. Sean Donkin, managing director of The Inn Collection Group, said: “We are delighted to bring The Midland into the group and bring in an establishment that is held in such high regard. Overlooking the bay and the sunsets with the Lakeland fells as the backdrop are something that I love and I’m looking forward to seeing many more people enjoy them too.” The acquisition brings The Inn Collection Group’s estate to 35 sites across the north of England and North Wales, while the sale allows the Lancaster Foundation to reinvest into increasing its assets and in turn grow its funding to support the needs of the hundreds of charitable projects it supports across the UK and Africa.
Restaurateur Sam Harrison signs for double Brentford opening: Restaurateur Sam Harrison is to open two sites at The Brentford Project, a 1.2 million square-foot mixed-use development in west London. Harrison has agreed a deal with property developer Ballymore to launch all-day brasserie Sam’s Waterside alongside a third site for his Sam’s Larder concept. Harrison, alongside his business partner Fanny Stocker, is adding to his portfolio of Sam’s Riverside in Hammersmith, and Sam’s Larder concepts in Hammersmith and Chiswick. Harrison has already launched a smaller cafe version at The Brentford Project, located in the temporary concierge office, serving coffee and pastries. The site will develop further in February when the road to the High Street opens. Sam’s Larder will then officially launch in July 2023. In the same month, Sam’s Waterside will open on the River Brent. The 4,000 square-foot space will emphasise informal dining, with a 70-cover restaurant, 30-seat bar, and a waterside outdoor terrace for up to 40 guests. Sam’s Larder, the gourmet deli-cum-grocer, will cover 850 square foot and will be located opposite the new brasserie space. Harrison, director of Genuine Restaurants, said: “West London is what we know best, and Sam’s Waterside will have a similar DNA to Sam’s Riverside, with a terrific river location, a buzzy atmosphere, great food and drink offerings, and a huge emphasis on service and hospitality. We plan to offer our usual varied menu, but at a slightly more accessible price point, and most importantly, still retain all the quality from our amazing suppliers and partners.” Shackleton Property acted on behalf of Ballymore, and Genuine Restaurants dealt directly for Sam’s Waterside and Sam’s Larder.
Dough&Co closes four sites: Dough&Co, the wood-fired pizza concept from former Marco Pierre White chef Chris Sharman, closed four of its sites over the weekend. The business, which was founded by Sharman in 2018, had grown to a 16-strong business, but suddenly closed its sites in Swindon, Sheffield, Milton Keynes and Hanley. All four sites were launched in the past 12 months. All are now listed as permanently closed. The business recently launched a site in Daventry, alongside sister brand Burger Armour. Sharman previously said his aim was to grow the pizza business to 50 sites. Dough&Co declined to comment.
K10 secures Paternoster Square site: K10, the London-based sushi concept, has further added to its presence in the City, with an opening in Paternoster Square. The company, which returned to the expansion trail earlier this summer, has taken on the former Poncho 8 site in Queens Head Passage. Earlier this summer the business took on the former Wasabi site in Old Broad Street on a short-term lease. It is thought the company is looking to grow steadily after undergoing a restructure in the summer of 2020. K10, which was founded in 1999 and at one time operated five sites in the City, also operates sites in Fetter Lane and Queen Street.
Utopia Leisure reports ‘strong recovery’ from pandemic as it returns to profit: Utopia Leisure, which owns and operates luxury hotels across the south east of England, has reported a “strong recovery” from the pandemic as it saw turnover increase to £27,176,814 for the year ending 27 March 2022 versus £18,171,104 in the 18 months prior. It made a pre-tax profit of £6,420,584 compared with a loss of £1,865,223 in the previous 18 months. Occupancy rates in the year were 52.7% compared with 33% in the 18 months prior and 68% in 2019. Meanwhile 39,963 rooms were sold in the year compared with 37,007 in the 18 months prior and 43,318 in 2019. The business received government grants of £480,389 (2021: £3,401,768). No dividend was paid (2021: nil). In their report accompanying the accounts, the directors stated: “Throughout the challenges of the pandemic the company remained committed to actions to drive demand to its hotels. The increase in turnover is also driven by consumers' inherent desire to travel and a pent-up demand for events. The directors anticipate continued growth in their hotel and hospitality operations and expect to achieve this through the development of existing sites.”
The Real Greek to make Scottish debut next week with Edinburgh launch: The Real Greek, the Fulham Shore-owned brand, will make its Scottish debut on Monday (12 December) with more set to follow in the country. The restaurant in the St James Quarter in Edinburgh will be the brand’s fifth opening of 2022 following on from Manchester, Newcastle, Solihull, and Gloucester. The 140-cover Edinburgh site will offers indoor seating and a click and collect service. Nabil Mankarious, managing director at The Real Greek, said: “2022 has been a landmark year for The Real Greek, with a particular focus on openings in the north of England. Now we are expanding into Scotland, with ambitious growth plans to roll out more restaurants in this fantastic country. We’re very excited about the future of The Real Greek in Scotland.” The Edinburgh restaurant is The Real Greek’s 26th site and its 14th outlet outside of London. A further opening under the brand is scheduled before the end of the first quarter next year.
Yorkshire multi-unit franchisees open eighth Papa John’s site and eye further expansion: Yorkshire multi-unit franchisees Mandy Kaur and Chan Singh have opened their eighth Papa John’s site. The husband-and-wife team, who run their portfolio with the help of son Jashan, who works as acting regional manager, have opened in Horbury Road, Wakefield. The duo, who joined Papa John’s as franchisees in 2008, also opened new stores in Timperley, Manchester and Castleford earlier this year and are eyeing further expansion. “Now our own children have grown up, the opportunity for us to expand our Papa John’s franchise was too good to refuse,” said Kaur. “We are proud to have been able to promote three of our long-standing team members to area managers and we have another area manager currently in training. Our goal is to open more Papa John’s over the next two years, so there will be plenty more chances for promotion. We live within 30 minutes of Wakefield and have been planning to open here for about five years, but just couldn’t find the perfect location.” Amit Pancholi, UK director of business development at Papa John’s, added: “Mandy and Chan’s energy and enthusiasm to grow their portfolio of Papa John’s is inspiring. It proves with the right business mindset and training from Papa John’s, multi-unit franchisees can succeed without direct quick service restaurant experience. We now look forward to supporting them as they open further stores in the region over the next couple of years.”
London’s oldest Italian deli set to close for good after almost a century: London’s oldest Italian deli will close after almost 100 years as it struggles to cope with soaring energy costs. Founded in Soho in 1929, Camisa & Son will close after Christmas unless a buyer is found, reports The Daily Mail. Gianni Segatta, one of the directors at owners Alivini, said: “We cannot run the business now, it’s very sad. It’s a historical brand and we love it, but everything is so difficult. Energy prices, rates, VAT and salaries are all too high now and we cannot raise prices because people would not come. We have explained the situation, turnover is too low. We looked into selling the brand but we must also focus on other things. Soho has changed too much – things were good before the pandemic, but now it is not what it used to be. The families who used to live here have gone – we used to have queues to get in, but not anymore.” Camisa & Son was first opened by brothers Ennio and Isidoro Camisa, but during the Second World War the brothers were among thousands of Italians detained by the British government, forcing their original deli at 66 Old Compton Street to close. The brothers returned to Soho in 1948, running their new shop in Berwick Street, and when they parted ways in 1961, Isidoro moved the deli back to Old Compton Street, where it has stood since. Still named Camisa & Son, the family sold the deli to Italian food company Alivini in 2014. An online petition started to save the deli has already been signed by more than 3,000 people.
Cornish beachfront hotel sees turnover and profit exceed pre-pandemic levels: Watergate Bay Hotel, an 80-room property on the north Cornwall coastline, has reported turnover was up to £13,645,182 for the year ending 28 February 2022 from £7,602,241 the year before. The business said this reflected fewer enforced closure periods and the addition of its Beach Loft project, a collection of seven luxury units with wide-angle views across the beach. Turnover also exceeded the £13,014,845 reported for the year ending 28 February 2020 – the last full year before the pandemic. The hotel – which features three restaurants, a surf school, self-catering accommodation and a letting service for privately-owned properties – saw Ebitda up to £3,856,166 from £1,545,586 the previous year. The business made a pre-tax profit of £2,465,102 compared with a profit of £358,156 the year before (2020: profit of £1,327,105). The company received £437,216 through the Coronavirus Job Retention Scheme (2021: £1,607,439), £98,449 in business support grants (2021: £128,077) and £10,409 in other grants (2021: £10,409). A dividend of £132,582 was paid (2021: £15,306). At the year end, the business had £5m of undrawn committed loan facilities.
Shipping container food village proposed for Leeds market: A new food village built from shipping containers has been proposed for an open-air market in Leeds. The city council’s executive board is being asked to approve the launch of a consultation on proposals for Leeds Kirkgate Market's outdoor trading area, designed to safeguard its long-term future. The outdoor market has space for a total of 185 stalls, with about 85 of them being filled on a typical day. Provisional plans have been drawn up to reduce the number of outdoor stalls, with the remaining pitches to be positioned adjacent to the indoor market. Should the scheme get the go-ahead, the newly created space would then become home to a “container-style” food village. The council said it had been approached by a number of potential operators who have expressed an interest in running an attraction of this kind at the market. It is also expected to complement previously approved regeneration plans for a new hotel and ground-floor commercial units on the George Street side of the market. Cllr Jonathan Pryor, Leeds City Council's executive member for economy, culture and education, said: “Leeds Kirkgate Market is a historic part of the fabric of life in our city and, as such, we are committed to doing everything we can to ensure it remains a modern, exciting and inclusive shopping destination. The consultation on the plans would involve traders, customers and businesses that are based near the market. The findings would then be considered at an executive board meeting in February.
Israeli chef Oded Oren to double up with delicatessen at London’s Broadway Market: Israeli chef Oded Oren is to open a Tel Aviv-inspired delicatessen in London for his second site. Oren will launch Oren Delicatessen at Broadway Market in January. Taking over the space left by the recently closed Isle of Olive, the deli will offer its signature hummus and house-cured fish as well as freshly baked challahs and pitas. Meals to take away will also be available such as chicken kofte with turmeric and seasonal fish with traditional Libyan chraime sauce. Alongside those will be a range of natural and low-intervention wine. It's something of a continuation of Oren’s lockdown offering in shop form, and he told Hot Dinners: “Cooking family-style food is my passion and I’m looking forward to bringing a taste of Tel Aviv to Broadway Market.” Oren launched his eponymous restaurant in Clapton, east London, in 2019.