Day: September 2, 2020

Craft yourself a new direction

With lockdown forcing many people into furlough or redundancy, the thought of turning a personal passion into a startup has never been more tempting.

But is this the right time or the right environment? Chris Banks CBE, MD at Cracker Drinks explains how you can 1turn a passion project into a viable business?

I had always wanted to run my own business, so when I saw the opportunity to take a small part of Coca-Cola and turn it into an independent business, I led a management buy-out of a business unit that focused on fruit juices; and formed Big Thoughts.

A few food and/or drinks company buyouts later, I took a controlling interest in Cracker Drinks to do it all again. Cracker is an independent craft drinks maker with a healthy obsession for great tasting and all natural juice and juice drinks. Over the years, I have learned what it

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Eat Out to Help Out scheme increased restaurant spending by a third

The Eat Out to Help Out scheme increased restaurant spending by more than a third on Mondays, Tuesdays and Wednesdays, figures have revealed.

The government scheme – which gave diners up to 50% off their bill to a maximum of £10 each – finished on 31 August.

The discount for food and non-alcoholic drinks was introduced by Chancellor Rishi Sunak to help boost the struggling hospitality industry in the wake of the COVID-19 pandemic.
Popular restaurants – including Nando’s, Wagamama and Gourmet Burger Kitchen – were among tens of thousands of outlets to sign up.

Barclaycard Payments, which manages around 40% of UK transactions, said diners spent 34.2% more at restaurants during the subsidised days than on the same days before the scheme in July.

Research showed that Wednesdays were the most popular day, with spending increasing by 39.7%.

It found that almost four in 10 British people made

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Tesla eyes $5 billion from new stock sales

Tesla plans to sell up to $5 billion worth of its new, split stock in several offerings.

Dave Sebastian reported the news for the Wall Street Journal:

Tesla Inc. TSLA -4.67% said it planned to raise up to $5 billion through stock offerings from time to time as the electric-vehicle maker, which has enjoyed a surging share price, makes another investment push.

The return to capital markets comes after the stock split 5-for-1 on Monday, sending it up sharply. The planned fundraising represents roughly 1.1% of Tesla’s $464 billion market capitalization, according to FactSet.

CNBC’s Pippa Stevens wrote:

“We intend to use the net proceeds, if any, from this offering to further strengthen our balance sheet, as well as for general corporate purposes,” Tesla said. 

The stock briefly traded in the green on Tuesday, but moved lower throughout afternoon trading and ended the session 4.67% lower.

The decline hardly

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