US president pauses ‘Project Freedom’ to work on ‘final agreement’ with Tehran; stocks also ride high on AI euphoria
JD Wetherspoon has warned on profits for the third time in five months because of higher energy costs.
The surge in oil and gas prices triggered by the Iran war piles more pressure on Britain’s hospitality industry, which is already struggling with weak consumer spending and higher costs from national insurance contributions.
The company has a strong pipeline of new pubs and planned openings include Manchester airport, Heathrow airport, Paddington station, Charing Cross station and Shaftesbury Ave in central London.
As many hospitality operators, including Wetherspoon, have reported, there have been substantial increases in costs, which may result in profits slightly below market expectations.
Higher costs are mentioned, but the higher pricing since March is not.
We believe higher pricing early in the second half should boost margins in the second half.
Continue reading…
Source link : https://www.theguardian.com/business/live/2026/may/06/oil-prices-retreat-global-stocks-hit-record-highs-trump-great-progress-iran-deal-live-updates
Author : Julia Kollewe
Publish date : 2026-05-06 08:22:00
Copyright for syndicated content belongs to the linked Source.
