All Bar One pub boss says late night economy is "shrinking" while Sandbanks retains Lloyds seaside property crown

Food inflation increased again in May, with wholesale meat prices pushing up the cost of steak. Overall shop prices stayed 0.1 per cent lower than a year ago, but fresh food prices rose 2.4 per cent. Non-food goods like fashion and furniture saw smaller discounts as retailers eased off promotions. Meanwhile, electrical prices dropped as stores tried to boost spending ahead of possible US tariffs.

Late-night economy ‘shrinking’ and Sandbanks retains property crown: Business in Brief

• The boss of pub giant Mitchells & Butlers says the late-night market is shrinking as social media and home delivery change young people’s habits. Chief executive Phil Urban says the group won’t expand in that space, calling it “the toughest part of the market”. Mitchells owns Toby Carvery, All Bar One and Harvester – and says family events like Easter are now bigger drivers of trade. Rival Marston’s has also seen a boost from key occasions and is investing in sports pubs to tap new demand.

• In M&A news, M&C Saatchi has agreed to buy Dune 23, a leading sports marketing agency based in Dubai and Abu Dhabi. The bolt-on acquisition will boost its growing UAE business and enhance its sport and entertainment offer. Dune 23’s clients include the Chicago Bulls, Dubai 7s and SailGP, and the deal will be funded from existing cash.

• Premier Inn owner Whitbread has appointed Christine Hodgson as its new chair. She will take over on September 1, replacing Adam Crozier after six years in the role. Hodgson also chairs water giant Severn Trent and brings experience from top consumer and tech businesses. She joins as Premier Inn steps up expansion plans in Germany.

• And Sandbanks in Dorset has been named Britain’s most expensive seaside spot – with average house prices near £1 million. Despite a small dip last year, prices there still top Lloyds Bank’s coastal property list. Salcombe in Devon and Padstow in Cornwall also make the top three, reflecting the South West’s luxury appeal. Across Britain, seaside homes cost just under £296,000 on average - slightly down on 2023.