What the Sunday papers said

The Sunday Telegraph

Publicans have increased the price of beer and wine over the past year in a drastic bid to recoup profits hit by higher rates and rents, redtape, and a fall in tourism. Reporting on the findings of The Publican's Market Report 2002, the Telegraph noted that beer prices have soared by twice the rate of inflation in the past year.

Guy Hands, one of the City's best known dealmakers, is to be picketed by more than 100 former staff of Grey Archer - the Nomura-backed internet business - who have received no redundancy payments following the collapse of the business in July. Read more on thePublican.com...

A recent rally in the Enterprice Inns share-price reflects growing confidence of the value in the tenanted pub company. The integration of the Laurel tenanted estate is now complete, and Enterprise should be able to finance the call option on 4,300 Nomura pubs in 2004 without returning to the market for more cash. Buy at 487.5p.

Whitbread has served up a regular dish of disappointment from its restaurant, hotels and leisure business. However the board has set various tagets including double-digit earnings growth and a five per cent surge in like-for-like sales figures. Investec has set a target price for the shares of 599p. The price currently stands at 499p.

The Business​

Large shareholders of Six Continents have called for a demerger of the hotels and pubs business. The Business reports that Tim Bridge is keen to seperate the two divisions but other directors remain unconvinced. The shares are at a seven-year low and are actually priced at a discount to the value of the property in the business.

Pizza Express is preparing to return £50m to shareholders, either through share buybacks or a special dividend. The company is planning to add 40 restaurants to its network of 500 across Britain, in the current year.

The Mail on Sunday​

A new alcopop drink which combines vodka with cannabis is being marketed to appeal to teenagers, claiming to be "the highest spirit on the shelf". The concoction, called Cannabis Vodka or Original Hemp Vodka, is reportedly selling very well at off-licences. Although The Portman Group has received a number of complaints, plans are afoot to distribute the brews to supermarkets across the country.

The Observer​

The great "fiver famine" afflicting retailers aand shoppers will be eased on Wednesday, when the Bank of England puts a new, non-fading £5 note into circulation. The shortage has lasted several months since notes had to be withdrawn because the serial numbers could easily be rubbed off. The shortage of fivers has set shoppers' pockets jangling with unwanted £1 coins.

Britain's economic growth will be downgraded this week as fears rise of a double-dip recession in Europe.

The Sunday Times​

Gleneagles Hotel is investing £9m in anew development that will add an extra 59 bedrooms and four meeting rooms to the resort. Braid House, which will open next month, is aimed at both the corprate and leisure markets.

A bankruptcy court investigating the rise and fall of Planet Hollywood is expected to question Arnold Schwarzenegger, once an entusiastic cheerleader for the troubled restaurant chain, and other celebrity backers after a critical report into its management.

Economics: Unemployment in July fell 3,100 to 949,600, representing 3.1 per cent of the workforce. Inflation (excluding mortgages) rose to two per cent from June's record low of 1.5 per cent. The National Office of Statistics said this was largely due to the Queen's jubilee and the World Cup.

The Sunday Express​

Nightclub entrepreneur Peter Stringfellow is plotting a multi-million expansion of his business. Further to his recent club launch in Paris, he is looking at sites in Dublin, New York and a second site in London's West End.