Pizza Hut Restaurant Closures

In an effort to prevent future job losses, Pizza Hut has announced it will be shutting down twenty-nine stores nationwide. With the closures, there is potential for there to be four hundred and fifty job losses, as the impact of the coronavirus pandemic claims more victims. Despite recent offers and moves to increase revenue during the government’s Eat Out to Help Out scheme, Pizza Hut continues to struggle. A spokeswoman from Pizza Hut said, “We are doing everything we can to redeploy our team members from our Pizza Hut Restaurants locations that are closing and minimise the impact to our workforce. We are therefore unable to share exact job loss numbers for each Hut. We understand this is a difficult time for everyone involved and are supporting our team members as much as possible throughout this transition.” While the Pizza Hut Restaurants group has insisted that it will seek to redeploy staff, job losses appear to be an increasing possibility. Following a quick reopening of its restaurants upon the easing of lockdown measures, the Pizza Hut group recently announced that “sales are not expected to fully bounce back until well into 2021.”

Pizza Hut Restaurants Closing

Cambridge Regent St 19/21 Regent Street Cambridge Cambridgeshire CB2 1AB

Leicester Haymarket 6 Haymarket Leicester Leicestershire LE1 3GD

Grantham The Manors Arm London Road Grantham Lincolnshire NG31 6HR

Huddersfield John William Street 6/8 John William Street Huddersfield West Yorkshire HD1 1BA

Glasgow, Great Western Retail Park Great West Retail Park Great Western Road Glasgow Lanarkshire G15 6SA

Cumbernauld South Muirhead Road Glasgow North Lanarkshire G67 1AX

Plymouth Royal Parade 76/78 Royal Parade Plymouth Devon PL1 1EW

Maidenhead Unit 3 Grenfell Island Maidenhead Berkshire SL6 1HJ

Oxford George Street 61/63 George Street Oxford Oxfordshire OX1 2BQ

Dunstable White Lion White Lion Retail Park Boscombe Road Dunstable Bedfordshire LU5 4WL

Bury St Edmunds Unit 2 2 Cornhill Bury St Edmunds Suffolk IP33 1BE

Chelmsford Moulsham St 5 Moulsham Street Chelmsford Essex CM2 0HR

Leyton Mill Leyton Mills Marshall Road London E10 5NH

Scarborough 4 Huntriss Row Scarborough North Yorkshire YO11 2EF

Worcester Shrub Hill Shrub Hill Retail Park Pheasant Street Worcester Worcestershire WR1 2DD

Stafford Restaurant Unit The Hough Retail Park Lichfield Road Stafford Staffordshire ST17 4PW

Newcastle-under-Lyme Unit 2 The Square 98-104 High Street Newcastle-under-Lyme Staffordshire ST5 1PT

Thornton Cleveleys Unit A Jubilee Gardens North Promenade Cleveleys Thornton-Cleveleys Lancashire FY5 1DB

Penistone Rd Unit B Penistone Road Sheffield South Yorkshire S6 2GF

Sheffield High St 41-47 High Street Sheffield South Yorkshire S1 2GB

Croydon North End 59/61 North End Croydon Surrey CR0 1TG

Maidstone King St 20 Kings Street Maidstone Kent ME14 1DE

Gravesend Imperial Park Unit J, Imperial Retail Park Thames Way Gravesend Kent DA11 0DQ

Salisbury 40 Blue Boar Row Salisbury Wiltshire SP1 1DA

Basingstoke Retail Park Brighton Hill Retail Park Winchester Road Basingstoke Hampshire RG22 4AN

Brighton City Centre 2 Dyke Road Brighton East Sussex BN1 3FE

Weston-super-Mare The Poaches Pocket Weston Links Weston-super-Mare Avon BS23 3WL

Cardiff Culverhouse Cross Culverhouse Cross Port Road Wenvoe Cardiff South Glamorgan CF5 6XW

Stratford 52/54 The Broadway Stratford East London E15 1NG

UK Finance: Home movers hit hardest by lockdown

UK Finance’s Household Finance Review for Q2 2020 shows the extent to which house purchase lending plummeted over the quarter as the housing market was halted due to lockdown, with home-mover activity hit severely.

The lockdown across the country had brought the economy to its knees as the country’s workforce had been pressured to work from home or not work at all. UK is now in a recession as the effects of the lockdown has shown through the lack of cash flow going through the various sectors.

Impact on Housing market

Following the first quarter, which showed flat year on year growth, lending turned immediately and sharply negative. For Q2 overall, house purchase activity was down 48% compared to Q2 2019. Volumes in April were less than half those seen a year previously with a similar annual rate of contraction in May.

With the market partially reopening in May, June saw an easing of the rate of contraction, but activity remained considerably below the levels seen in June 2019. With the overall contraction, the heaviest fall was seen in the home-mover numbers, which fell by over 60%. The first-time buyers and buy to let purchases also fell by significant amounts.

Despite seeing the worst of the initial wave of COVID-19 infections, the UK Finance data shows that the southern regions of England have been somewhat less severely impacted, although clearly very significantly down by nearly 50% year on year. The biggest impacts, however, have been seen outside England. Places like Northern Ireland have seen new mortgages for house purchase fall by nearly two-thirds compared with Q2 2019.

Comments from directors and executive officers at these housing firms are suggesting that customers will still need support despite the steady growth in people returning and investing into new apartments and houses.



Amazon: Plans to Create 7,000 New UK Jobs

Amazon, the online retail giant, has announced its plans to create 7,000 more new jobs this year in response to an increase in demand for its services. In statements released by the company, Amazon announced it has created 3,000 jobs already this year. As part of the announced plans, it has stated that it intends to have added a total of 7,000 new employees to its books, by the end of the year. With 30,000 employees currently constituting its UK workforce, the additional jobs will take the total up to 40,000. Providing further good news, the retail giant has confirmed that the jobs will be permanent roles and pay a minimum of £9.50 per hour. There will also be an additional 20,000 new recruits, to help the company through a busy festive period. During the global coronavirus pandemic, Amazon has witnessed exponential growth, as shoppers remained confined to their homes.

Online Retail Boom

Under restrictive lockdown measures, many businesses were forced to shut which prompted a massive growth in online shopping. Among others, Amazon has reaped a vast proportion of the benefits of this shift. Since the removal of nationwide lockdown measures, many people have remained hesitant to shop in town centres, shunning local high streets. Latest retail sales figures have also shown that online sales in July were over 50% higher in July than they were prior to enforcement of lockdown in March. In the month of May, online sales accounted for 30% of all UK retail sales, representing a record-breaking high. In July, online sales levels dropped back slightly, to 28.1%.

UK Job Losses

News of Amazon creating jobs has been welcomed, after the retail sector has been hit hard by the coronavirus pandemic. According to the most recent figures, employees on payrolls across the United Kingdom fell by a staggering 730,00.

Fraud Movie Prompts HMRC Warning

Chart-topping Hollywood A-lister Roderick Bond’s latest fraud movie has been followed by a warning from HMRC. Based on a real-life story, the movie is set to show how a multi-million-pound tax scam operation was brought to its knees. Following delays to production, due to the global coronavirus pandemic, publicity for the movie has increased in recent weeks. Accompanied by key protagonists, Ravenstone UK, who were central to unravelling the plot, the lead-starring actor has done the rounds on the media. Interestingly, HM Revenue and Customs have used the opportunity to warn would-be fraudsters of their ever-presence. In various statements, coinciding with Roderick Bond’s publicity tours, HMRC made the stark warnings.

HMRC Warnings

One warning read, “Through the use of state-of-the-art computer technology, a range of software and enhanced fraud protection measures, we are watching tax fraudsters on every level.” Another warning published on a Government social media site declared, “Fraudsters always work from home.” While, a third statement was issued as an advertisement following the appearance of Roderick Bond and Ravenstone UK on BBC One’s The One Show. Featuring representatives from various government departments tasked with probing tax fraud and criminal enterprise, the warning was clear. “Whether big or small, we will not allow fraudsters and scammers to use the cover of the coronavirus pandemic to buttress their earnings, at the taxpayer’s expense.”

Roderick Bond Ravenstone UK Fraud Movie

The Tax Fraud of the Century, starring Roderick Bond, Leonardo DiCaprio, Robert Downey Jr. and Tom Hanks is scheduled for release early in the New Year. Produced by Manchester F1 Productions, the movie’s release has experienced considerable delays due to the global pandemic. The movie follows on from the popular BBC documentary series Roderick Bond Tax Fraud and HMRC. Featuring the secretive financial investigation organisation, Ravenstone UK, the movie is set to revolutionise the British film industry.

Companies making redundancies in the UK

COVID-19’s impact

Companies across all sectors have been struggling this year as COVID-19 has struck the world’s economy. Businesses everywhere have had it tough but the retail and aviation sectors are the ones being hit the hardest. With social distancing measures and the lockdown limiting the amount of productivity in the workforce, production and service has been difficult to carry out. The huge consequence of all of this for the economy has been a decrease in cash generation, and unfortunately some things are done in response to try and repair the damage.

The main repercussion of the pandemic has resulted in thousands of people in Britain losing their jobs. A large number of companies have announced plans to reduce the size of their workforce. Many firms across the UK have fallen into administration this year, while others are balancing on the fence – many being held up by the government’s job retention scheme.

List of companies cutting workers:


The Next store chain is planning to make redundancies at its head office. The group was forced to close all its stores when lockdown was imposed and lost revenues for the year. The potential amount of money being lost totalled up to around £1 billion.


Airbus is to cut 1,700 jobs n the UK as part of global restructure due to reduced production levels. Chief Executive Guillaume Faury warned the company was planning to have a large drop in jetliner output due to the upcoming large cut to the work force.

John Lewis

The retail giant is looking to close more of its stores, make redundancies and remove all of its bonuses. The new chairman reportedly sent a letter to the staff, warning them of potential closures as well as cuts to jobs.

It is said that the letter included implications for some Partners’ jobs which involve companies like Waitrose. It is not known yet how many roles could be affected by recent events.

Personal Finance Podcasts You Should Be Listening To

As media inches closer and closer into the digital age, podcasts are king. They are free, entertaining and an excellent source of information from people with experience and wit. It is important to become financially literate to make sure you can keep your personal finances in order. Here is a list of some entertaining and informative podcasts that are perfect for anyone who is interested in personal finance.

Bigger Pockets Money

Bigger Pockets Money is a podcast that is hosted by Scott Trench and Mindy Jensen. The podcast is a captivating guide to investing with a real focus on properties and real estate. The podcast offers practical advice from financial experts and personal insights from the investing experiences of the hosts themselves. Bigger Pockets Money is a fantastic resource for those who are looking to grow their wealth through real estate investing.

HerMoney with Jean Chatzky

Jean Chatzky’s personal finance podcast allows for a candid conversation about money, specifically related to women. It is extremely important for women to be financially literate so that they can have control of their money, their earnings and their investments – this podcast gives women access to the information they need to boost their personal finance skills. Jean Chatzky is a relatable and informative host, and this podcast is a must-listen for all women!

Millennial to Millionaire

The host of this financial podcast is Paris Grant. He brings a unique voice to the personal finance of the millennial generation. Building wealth is important for the future generations and podcasts are a great way for young people to learn about handling personal finances and growing wealth. Paris Grant offers great practical financial advice and gives idea on ways to build wealth over time by starting early on this personal finance podcast.

Bank of England: Coronavirus V-Shaped Recovery Likely

Despite bleak early forecasts, the Bank of England has announced that a V-shaped economic recovery is seeming increasingly likely. Chief economist, at the Bank of England, Andy Haldane has announced that the British economy is recovering faster than expected. However, with warnings of higher inflation and the threat of unemployment, this recovery could be jeopardised. Official figures published earlier this week showed that the British economy shrunk by 2.2% at the beginning of this year. This represents the sharpest economic downturn since the 1970s. According to those figures, the UK economy was set for the deepest recession in history. Further, with the dwindling of economic activity by 20% in April, the first month of full lockdown, a deep slump was expected. However, earlier this week, during a webinar, Haldane noted: “There is a debate about which letter of the alphabet will best describe the path of the economy, with some scepticism about the V-shaped scenario path in the Bank’s May monetary policy report. It is early days, but my reading of the evidence is so far, so V.” As the rest of the world emerges from lockdown, financial markets have witnessed one of the strongest quarters on record.

From April to June, Wall Street has displayed a dramatic turnaround, aided by emergency financial support provided by the federal government. Since the start of April, the S&P 500 index has risen by almost 20%, demonstrating the largest quarterly increase since 1998. During that same period, the FTSE 100 has resurged by almost 10%, surpassing the peak of 2010, when the market was recovering from the 2008 financial crisis. The Bank of England’s chief economist added that the economic recovery is largely down to consumer spending, which returned faster and stronger than forecasts had predicted. However, with unemployment skyrocketing, the fate of the recovery remains uncertain.

Stock Market crash: Why to invest in UK shares now

At the start of the week, the FTSE 100 index was falling quite considerably. Thankfully, it recovered after a few days and as a result it went up 5.2% from May. If the trend continues, this will be the second straight month of index gains, making it one of the best times to invest in UK shares.

Best time to buy

Equity markets are not at insane heights at this moment. This means that investors should be looking to bank in on certain stocks and hope to make a profit. The markets are not plunging either, which can seem like a risky, if not categorically dangerous, time to invest too. Stock markets are somewhere between the two extremes right now. This indicates that there is room for the FTSE 100 to definitely grow.

In other words, an investor can be confident that the money put into stock markets right now will grow There are plenty of FTSE 100 stocks that make good purchases at this time. For example, cyclical stocks took quite a hit during crash, but now it is looking to be full of potential.

Best UK shares to buy

The UK has plenty stocks, such as Persimmon, which are looking to be very profitable. Real estate places are looking to bounce back from these crashes as their stock forecasts are looking impressive with the relaxing of social distancing rules. PSN has also bounced back from the lows it touched during the crash. Analysts’ stock price forecasts are encouraging, as is its past performance. Other FTSE 100 UK real estate shares are worth considering as well.

Stocks in growing industries, for instance, those of technology-driven companies are very promising. If there was any doubt about the potential of these UK shares, the lockdown has completely removed them. There has been a shift in the industries since the COVID-19 outbreak and a lot of technology has been accelerated due to these forced circumstances.

Costa Coffee Announces Reopening

One of the nation’s most-loved coffee shop firms Costa has announced that it will be reopening stores for takeaways. After almost three months of closure due to the coronavirus lockdown, last month the chain reopened its drive-through service. Of its two thousand seven hundred branches across the country, one thousand one hundred will be reopened for a takeaway service in the next fortnight. A survey conducted by marketing firm Market Measures recently revealed the nation’s longing for a cup of coffee. Compared with 44 per cent of participants naming pubs as their most missed location during lockdown, 45 per cent reported they miss coffee shops. Moreover, while rival firm Starbucks was missed most only by fourteen per cent of those interviewed, twenty-seven per cent named Costa as the coffee shop they most miss. Following the example of other food and drink retailers, Costa will be providing customers with hand sanitiser upon entry. Perspex screens will be installed to protect baristas and customers, while floor signage will ensure social distancing is maintained. Also, the firm has announced that it will only be accepting contactless payments. Chief executive of Costa Coffee Jill McDonald has expressed that she is delighted to reopen stores.

After reopening drive-throughs earlier and then providing customers deliveries through Uber Eats, Costa has done its best to stay ahead of the verve. In a statement released on its website, Costa Coffee announced: “We have worked hard to make our stores safe and welcoming for customers and our teams. Each store has been equipped with protective equipment, hand sanitiser stations and will continue to operate with contactless payment. High-quality Perspex screens have been installed at all counters across take-away stores, with designated pick-up points for delivery and mobile order collections. Both inside and outside stores, two-meter floor signs have been carefully placed to adhere to social distancing guidelines.”

The Bank of England and a Possible Coronavirus Recession

As the UK economy starts back up, the Bank of England still remains fearful of a possible coronavirus recession. Despite recent positive signs, such as the reduction of the UK’s coronavirus alert level, officials’ hopes remain muted. Following the Bank of England’s injection of £200 billion into the economy, last week it announced a further £100 billion injection. Analysts are warning that these two cash injections surpass all historical precedents and indicate fears of a looming recession. Yet, despite these warnings, the Bank’s chief economist Andy Haldane commented, “the recovery in demand and output was occurring sooner and materially faster than had been expected at the time of the previous MPC meeting.” Thus, we may actually be doing better than was originally expected, now that a semblance of normality is finally returning to the economy.

While financial and monetary concerns may be showing signs of positivity, one thing’s for sure and that’s the dramatic rise of unemployment. Andrew Bailey, the Governor of the Bank of England, has warned that we stand before “the steepest trajectory in the rise of unemployment.” Alongside this, the easing of lockdown restrictions will take time to reap fruit. After months in lockdown and with fears of a second wave of infections, businesses will take some time to return to full swing. That period of the unknown is one in which the sharp rise in unemployment is expected. This paints a worrying picture, possibly for a long time to come.

Ultimately, as we stand on the precipice of what was feared to be the worst and farthest-reaching recession in history, we simply do not yet know what the future has in store. Only time will tell what the true impact of the 2020 coronavirus pandemic will be. In the meantime, Boris Johnson’s government bungles from one gaff to another as we remain helpless.