Diageo has announced plans to invest £73 million in a new microbrewery and culture hub in London, which will create up to 150 jobs.
The ‘Guinness at Old Brewer’s Yard’ is set to open in Autumn 2023 in Covent Garden in the Capital.
Diageo said the new investment, which builds on the success of the Guinness Storehouse in Dublin and the opening of Johnnie Walker Princes Street in Edinburgh in 2021, demonstrates its commitment to the hospitality sector, which employs almost 2 million people in the UK.
“We’re excited to create a new home for Guinness in the heart of London. ‘Guinness at Old Brewer’s Yard’ will strengthen London’s hospitality community and be a must-visit destination for thousands of visitors to enjoy,” Dayalan Nayager, Managing Director, Diageo Great Britain, said.
Notintg that the government support over the last two years has been vital for pubs and bars, Nayager added that the alcohol duty review and continued freezes in duty will ‘significantly help the long-term vitality of the trade’ as it comes out of the pandemic.
The new 50,000 sq ft venue will provide a community space within the Covent Garden area and become the Southern UK hub of Diageo’s Learning for Life Bartending and Hospitality Programme.
The site will include a world-leading microbrewery which will produce limited edition beers and offer guests tours with Guinness beer specialists; event spaces and central covered courtyard hosting events, which will be open for use by the local community and Guinness store selling rare items via collaborations and partnerships bespoke to the London experience.
In addition, there will be a rotating cuisine and events at a stunning open-fire kitchen, restaurant and 360 degrees glass rooftop space within the development.
The site will be carbon neutral by 2030 and accessible to all when it opens. Key to the new site will be a community programme, details of which will be designed following a consultation period with local residents.
Diageo and Guinness are investing £30m in helping pubs, bars and restaurants in Britain recover from the pandemic through its “Raising the Bar” scheme, launched in 2020. Over 30,000 outlets across the country have benefitted from the scheme to date, through support such as hand sanitiser, PPE kits and parasols and ‘snugs’ for outside occasions.
Nestle on Tuesday said it will increase investment in advertising and marketing to 9 per cent of sales by the end of 2025. The company also announced plans to make its waters and premium beverages activities a global standalone business from New Year.
Unveiling a plan to fuel and accelerate growth at a Capital Markets Day for investors and analysts, the Swiss group also said it aims cost savings of at least CHF 2.5 billion (£2.25bn) above existing initiatives by end 2027 to fund increased investments.
“Our iconic brands and innovative products connect with people every day, at every stage of their lives. These strengths give us a unique advantage and position us to win in the marketplace. We will now invest further in our brands and growth platforms to unlock the full potential of our products for our consumers and our customers,” Laurent Freixe, Nestlé chief executive, commented.
“Our action plan will also improve the way we operate, making us more efficient, responsive and agile. I am confident that we can deliver superior, sustainable and profitable growth and gain market share, while transforming Nestlé for long-term success.”
Nestlé confirmed its 2024 guidance, with organic sales growth of around 2 per cent, underlying trading operating profit margin of around 17 per cent and underlying EPS broadly flat in constant currency. Looking ahead to 2025, the company expects an improvement in organic sales growth compared to 2024, with the underlying trading operating profit margin anticipated to be moderately lower than the 2024 guidance.
Nestle last month lowered its outlook for 2024 to 2 per cent as the company reported falling sales for the first nine months of the year.
The consumer goods major, whose brands range from Nespresso coffee capsules to Purina dog food and Haagen-Dazs ice cream, had already cut its annual sales growth expectations from 4 per cent to 3 per cent in July.
The company on Tuesday said it expects organic growth to be over 4 per cent in the medium term, in a normal operating environment, with an underlying trading operating profit margin of over 17 per cent.
Nestle said the its new action plan will allow it to drive category growth and improve market share performance.
Actions will include targeted investments in winning brands and growth platforms, more focused innovation activities to drive greater impact, and systematically addressing underperformers.
Nestle will step up investment in advertising and marketing to support growth. The necessary resources will be generated through cost savings and growth leverage.
As part of the action plan to drive operational performance, Nestle’s water and premium beverages activities will become a global standalone business under the leadership of Muriel Lienau, head of Nestlé Waters Europe, as of January 1, 2025.
Nestle said the new management will evaluate the strategy for this business, including partnership opportunities.
A single UK-wide scheme deposit return scheme (DRS) would be far more successful, efficient and effective, retailer body the Federation of Independent Retailers (the Fed) has stated, expressing surprise and some concerns over Welsh government’s decision to press ahead with its own deposit return scheme for bottles and cans and not to join a UK-wide DRS.
The Fed’s National President Mo Razzaq has further warned that this decision by Wales - coupled with its intention to include glass in its scheme - would cause unnecessary confusion. He commented: “While we applaud Wales’s desire to make its deposit return scheme a success, we would prefer to see one single scheme for the UK.
“Interoperability across the UK is vital, so that anyone buying a drinks can in England will have the confidence that they can return it in Wales.”
Razzaq added, “A single UK-wide scheme would be far more successful, efficient and effective, enabling shoppers to understand and embrace DRS as quickly as possible.”
In a written statement yesterday, the Welsh government confirmed that it “was not able to proceed with the joint process.
It had always maintained that glass would be part of its deposit return scheme. Earlier this month, the UK government confirmed that it would not include glass in the scheme.
Deputy First Minister Huw Irranca-Davies, who has responsibility for climate change, confirmed Wales’s deposit return scheme “supports the transition to reuse for all drinks containers including those made from glass.”
Through DRS, consumers will pay an additional 20p when they purchase a drink in a single-use container. This is redeemed when they take the container back to a return point operator.
Razzaq added: “The Fed has always been very supportive of a UK-wide DRS as we believe it has huge potential to boost recycling and curb litter – two issues that impact on the environment and people’s quality of life.”
Welsh member Vince Malone added: “This is a concerning development, as Fed members believe a Welsh DRS scheme can only work effectively if it has a UK scale and is aligned with the rest of the country.”
According to Keep Britain Tidy’s National Litter Survey, by volume, drinks containers make up 75 per cent of the litter found on streets. Estimates suggest that more than eight billion drinks containers are wasted across the UK each year.
Retail insolvencies remained flat in the lead up to the Budget, shows a recent report, though experts feel that a wave of distress is expected following the Chancellor’s increase in employers’ National Insurance contributions and National Minimum Wage.
Today’s company insolvency statistics show retail trade insolvencies fell slightly from 2,101 in the 12 months to September 2023, to 2,089 in the 12 months to September 2024, and were flat month-on-month (137 in August 2024 to 138 in September 2024).
Gordon Thomson, restructuring partner at leading audit, tax and consulting firm RSM UK, said, “While retail insolvencies were flat in the lead up to the Budget, a wave of distress is expected following the Chancellor’s increase in employers’ National Insurance contributions and National Minimum Wage, due to the vast number of people employed in the industry.
"The current statistics may be the calm before the storm as additional costs put further pressure on retailers’ already-stretched margins, leading to an increased rate of insolvencies in Q1 2025.
“Consumer confidence has been shaky in the lead up to the Budget, and it’s crucial this returns to avoid a disappointing Black Friday and Golden Quarter. Confidence is needed to drive a boost in consumer spending and to the overall UK economy, which saw meagre growth of 0.1% in the last quarter.
“The retail sector is also grappling with increased crime rates, which not only has a devastating impact on margins but also on staff morale. The government’s promises to tackle shoplifting are more important than ever during this festive period, but that alone won’t be enough to revive the sector.
"Retailers will be holding on to see how the next few months perform, but further support is needed to avoid more having to close their doors for good.”
Today, on The National Lottery’s 30th birthday, operator Allwyn is announcing that, through selling tickets, National Lottery retailers have helped players raise a landmark £50 billion for Good Causes since 1994 – funding an incredible 700,000 individual projects across the UK.
Allwyn is also announcing that National Lottery retailers have now earned over £8 billion in sales commission since the first draw on Saturday 19 November 1994.
In addition to changing the face of communities up and down the UK, more than 7,400 millionaires have been created and over £95 billion awarded in prizes since the launch of The National Lottery in 1994.
Over 570 dedicated independent National Lottery retailers have been selling The National Lottery since launch – including Brian McLister, owner of McLister’s Store in Ballycastle, and Raj Patel, owner of News Bit in Bushey.
Through selling National Lottery tickets to players, Raj’s store has raised over £700,000 for National Lottery Good Causes since 1994, while Brian’s store has raised over £650,000.
“I feel proud that we’ve been able to make a difference,” said Brian McLister, owner of McLister’s Store in Ballycastle. “We’ve always strived to serve our local community and to help wherever we can. It’s great to be able to see the benefit of National Lottery funding in your area. Our local museum has been completely regenerated thanks to the funding they’ve received. It feels good to know that we’ve helped in some way.”
Raj Patel, owner of News Bit in Bushey, added: “Whenever I hear that over £30 million is raised every week for Good Causes, it makes me happy that by selling tickets and Scratchcards in my store, I’m helping in some way.”
Allwyn has been running some special games and draws to celebrate three decades of The National Lottery, including:
Last Saturday’s (9 Nov) special Lotto £15 million "Must Be Won" draw which saw a millionaire made and the jackpot roll down to boost all the lower prize tiers.
A EuroMillions 100 European Millionaire Maker draw on Saturday 22 November which will see 100 prizes of £1 million (or €1 million) guaranteed to be won in a single night.
A special 30th birthday Scratchcard that hit stores in the lead up to the birthday and offers the best chance of winning £30 on a game, as well seven top prizes of £300,000.
Brian McLister
Allwyn’s Interim Retail Director, James Dunbar, said: “By selling billions of tickets, and continuing to be the majority sales channel, it’s hard to ignore just how central National Lottery retailers have been in helping players raise £50 billion for Good Causes since 1994. They’ve now earned over £8 billion in sales commission along the way, which further demonstrates the incredible impact of The National Lottery on the UK over the last 30 years. We would like to thank retailers for their amazing commitment and support over the last three decades.”
Three decades of National Lottery funding has created an unparalleled legacy: powering athletic excellence, protecting cultural treasures, advancing artistic achievement and strengthening communities nationwide.
Running alongside the major initiatives are the hundreds of thousands of grants – usually for £10,000 or less – which help small projects to make an amazing difference in their areas.
Since funding began in 1994, UK athletes have won more than 1,000 Olympic and Paralympic medals. The National Lottery has funded the making of more than 600 films which have won an incredible 551 awards, including 16 Oscars, 128 BAFTAs and 34 Cannes awards. Popular attractions and notable landmarks across the UK such as the Eden Project, the Giant’s Causeway, the Kelpies, the Angel of the North and Wembley and the Principality Stadium have all received support from The National Lottery.
Thousands of British farmers today (19) are set to march to Parliament Square to protest against the end of an inheritance tax exemption that has helped family farms pass down the generations, saying the move will threaten food production.
First unveiled in chancellor Rachel Reeves’s Budget, the plans to impose inheritance tax on farms worth more than £1m have sparked fury among rural communities, who have contested the government’s assertion that small family farms will not be impacted by the changes.
Opposition to the so-called "tractor tax" is one part of a wider backlash against Reeves's financial plans. Farmers say the change will threaten the viability of family farms, which often have tight profit margins, and that their children will have to sell land to cover the tax bill, raising the risk that food production will suffer.
The National Farmers’ Union (NFU) has organised an event in which 1,800 of its members will meet with local MPs at Westminster to voice their anger on Tuesday, as thousands are also separately expected to stage a demonstration in Whitehall. Protest organisers say that while this event will be peaceful and include children driving toy tractors, rallies could escalate in the future if the government refuses to budge.
In an interview with BBC News, Tom Bradshaw, president of the NFU, said that farmers felt particularly aggrieved because last year, when Steve Reed was shadow environment secretary, he said Labour was not planning to change agricultural property relief (the inheritance tax exemption). He said farmers only started hearing rumours that the government was going to go back on this about a week before the budget.
He said he did not accept the government’s claims that most farms will not be affected by the change. Instead, he said, “75 per cent of the commercial farms in the United Kingdom will be within the scope of this policy change.”
Bradshaw also said farmers were willing to work with the government to produce a better version of the policy. He explained: "This policy is ill thought through. There’s still a 20 per cent benefit for the uber-wealthy to invest in agricultural land, and with the changes they’ve made to pensions, they’ve now incentivised people to rip money out of pensions and invest in up to £1m of agricultural land.
"That is not going to deliver for food security. It’s absolutely nonsensical. It’s not joined up. There’s no thought about the impact on food production or the families that produce this country’s food.
"Let’s sit down [with the government]. Give us the question. Tell us what the exam question is. We will work with you. If you want to stop people using land as a tax dodge, let’s work out the policy that does that. But this policy is not the answer."
The government argues that tax exemptions have led to wealthy non-farmers seizing agricultural land and pricing out genuine young farmers, and point to Budget funding of £5bn to help farmers produce food.