Jamie Oliver has launched a withering attack on the government’s tax treatment of British entrepreneurs, warning that ministers are “battering” the very people who power the country’s hospitality sector and risk turning Britain into an economic backwater.
Speaking to Times Radio, the celebrity chef said the cumulative weight of recent fiscal measures was choking the life out of small operators and would, in short order, make the UK “less and less important, less and less relevant” as a destination for ambition and enterprise.
“If you just batter the entrepreneurs, you’re going to get nothing,” Oliver said. “There is a lack of understanding of the chemistry of what a bubbling, buoyant, optimistic, aspirational, cool country called Britain looks like.”
His intervention lands at a particularly raw moment for the hospitality trade, which has spent the past year absorbing a punishing trio of cost increases. Higher employers’ national insurance contributions, coupled with a sharply lowered threshold at which they bite, have hit operators hardest in the wage bill. Add to that successive rises in the national minimum wage and a steeper business rates burden, and the margins of independent cafés, sandwich shops and neighbourhood restaurants have been pared to the bone.
Oliver argued that without meaningful incentives for risk-taking, Britain would forfeit its reputation as a crucible for new brands and ideas. “There needs to be enough fat in the game for people to take risk, and the association with risk and then innovation and creativity and brands … that can be amplified and grown,” he said.
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His sharpest criticism, however, was reserved for what he characterised as a tax regime blind to scale. The system, he said, draws no meaningful distinction between multinational chains and the corner shop. “What’s interesting is the tax system and the government see no difference between, say, Domino’s or Starbucks and Linda and Paul down the road that run a small independent sandwich shop.” Smaller operators, he added, are being “chocked out”.
Oliver knows the sharp end of the trade better than most. His Italian-themed restaurant chain collapsed into administration in 2019, and only at the end of last year did he set in motion the revival of the Jamie’s Italian brand through a franchise tie-up with Brava Hospitality Group, the owner of Prezzo.
He is far from a lone voice. Earlier this month John Vincent, co-founder of healthy food chain Leon, accused ministers of “totally killing the restaurant industry”. Vincent, who last year bought Leon back from Asda before shuttering 22 sites as part of a restructuring, has emerged as one of the sector’s most outspoken critics, arguing that the tax burden on restaurants has become unsustainable.
When Leon filed for administration, he told the BBC the maths spoke for themselves: “Today, for every pound we receive from the customer, around 36p goes to the government in tax, and about 2p ends up in the hands of the company. It’s why most players are reporting big losses.”
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For an industry that has long served as a first rung on the entrepreneurial ladder, and a generous employer of young, low-skilled and part-time workers, the warning from two of its highest-profile figures could scarcely be sharper. Unless the Treasury finds a way to differentiate between the corporate behemoths and the family-run independents, Oliver’s verdict suggests, Britain’s hospitality landscape will be poorer, blander and a good deal less ambitious for it.
Jamie Young
Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.
When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.
Valmont Industries, Inc. (VMI) Shareholder/Analyst Call April 27, 2026 11:00 AM EDT
Company Participants
Mogens Bay John Schwietz – Executive VP, CFO & Corporate Secretary
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Presentation
Operator
Greetings, and welcome to Valmont Industries 2026 Annual Shareholders Meeting. [Operator Instructions]
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As a reminder, this conference is being recorded. I would now like to turn the call over to Valmont’s Chairman of the Board, Mogens Bay. Thank you. You may begin.
Mogens Bay
Good morning. My name is Mogens Bay, and as Chairman of Valmont, it’s my pleasure to welcome you to our Annual Meeting. Today’s meeting is being audio webcast to our shareholders and will be made available for replay at our website, valmont.com.
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We have four proposals that are outlined in Valmont’s proxy statement to be voted upon at this meeting. We will then announce the results. All Valmont directors are present at today’s meeting.
Greg Geyer of KPMG is participating in today’s meeting, and KPMG is available to respond to any questions you may have about our financials. At this point, I call upon John Schwietz, CFO and Corporate Secretary, to read the required legal notice.
John Schwietz Executive VP, CFO & Corporate Secretary
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Mr. Chairman, this meeting is convened in accordance with the proxy mailed on March 11, 2026, to all shareholders of record as of March 2, 2026. We have received the affidavit of mailing from Broadridge stating that this mailing was complete and accurate.
Anita Gillespie has been appointed inspector of the election, and a list of all shareholders is available for review. The inspector has advised us that there were 19,547,213 shares outstanding and entitled to vote at this meeting. Of that number, more than 91% are represented by proxy at this time.
Mogens Bay
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Thank you. There are four matters for shareholders to
A pedestrian walks by a Domino’s Pizza on Dec. 9, 2025 in San Francisco, California.
Justin Sullivan | Getty Images
Domino’s Pizza stock fell 10% in morning trading on Monday after it reported weaker-than-expected U.S. same-store sales growth.
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The chain’s domestic same-store sales rose just 0.9%, lower than the 2.3% bump expected by Wall Street analysts, based on StreetAccount estimates.
“We’re not happy with it,” CEO Russell Weiner told CNBC.
The pizza chain also lowered its full-year U.S. same-store sales forecast to low-single digit growth, down from its prior projection that U.S. same-store sales will increase 3%.
Weiner said he expects more fast-food chains to report similar headwinds from winter weather and weak consumer sentiment, which took a dive in March due to spiking fuel prices caused by the U.S.-Israeli war with Iran.
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“One of the bad things about reporting first is you don’t get to hear about anybody else,” Weiner said.
Domino’s kicked off the earnings season for restaurant chains. Starbucks is on deck after the bell on Tuesday, and Chipotle Mexican Grill and Pizza Hut owner Yum Brands are expected to share their results on Wednesday. Rival Papa John’s will report its earnings next Thursday.
During the quarter, Domino’s also faced stiffer competition from rival pizza chains. Papa John’s and Pizza Hut both matched Domino’s $9.99 “Best Deal Ever” with promotions at the same price point. And Little Caesars undercut Domino’s $6.99 Mix & Match deal with a $5.99 version.
“People are seeing what we’re doing, and they’re sick of losing share, and they’re coming at it,” Weiner said, adding that he still expects Papa John’s and Pizza Hut to report same-store sales declines for the quarter despite the new promotions.
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Looking ahead, Weiner expressed confidence that Domino’s will prove itself in the long run.
“Domino’s has got a bigger advertising budget than our second two competitors combined,” he said. “And those competitors are both going up for sale, so we know things aren’t good there right now.”
Yum announced in November that it was exploring strategic options for Pizza Hut, which could include a sale. And Papa John’s is reportedly in talks with Qatari-backed Irth Capital to go private. Both chains have also announced plans to close hundreds of restaurants this year, which could further boost Domino’s dominant position in the pizza category.
And if either Pizza Hut or Papa John’s goes private, Weiner said he expects that a new owner would shutter even more locations — a win for Domino’s.
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Shares of Domino’s have lost nearly a third of their value over the last year. The company’s market cap has fallen to roughly $11.2 billion.
NEW YORK — Veradermics Inc. shares skyrocketed more than 42% Monday, surging to $96.60 in morning trading after the dermatology-focused biopharmaceutical company announced strongly positive topline results from its Phase 2/3 clinical trial of VDPHL01, an oral treatment for male pattern hair loss that demonstrated early, consistent and robust hair growth.
Veradermics Stock Explodes 43% After Positive Phase 3 Hair Loss Drug Trial Results
The New Haven, Connecticut-based company, which went public earlier this year, saw its market capitalization jump by more than $1 billion in a single session as investors rushed to buy shares following the news. Trading volume was exceptionally heavy, with millions of shares changing hands in the first hours of the session.
Veradermics said its lead candidate VDPHL01 achieved statistically significant hair growth in the pivotal “302” study involving men with mild-to-moderate pattern hair loss. The oral, non-hormonal therapy showed rapid onset of action, with visible improvements noted as early as eight weeks and continuing through the 24-week endpoint. The results position VDPHL01 as a potential first-in-class treatment in a market long dominated by topical minoxidil and oral finasteride.
Breakthrough in Hair Loss Treatment
The company plans to hold a conference call Tuesday to discuss the detailed results. Analysts hailed the data as “transformational,” noting that VDPHL01 could capture a significant share of the multibillion-dollar global hair loss market if approved. Leerink Partners raised its price target on the stock to $90 from $75 following the announcement, maintaining an Outperform rating.
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Veradermics CEO Dr. Reid Waldman expressed excitement in a prepared statement. “These results represent a major milestone not only for Veradermics but for the millions of men seeking safe, effective and convenient solutions for hair loss,” he said. The company is also advancing studies for female pattern hair loss, marking the first Phase 3 program of its kind in the U.S.
Company Background and IPO Success
Veradermics went public in February 2026 at $17 per share and has seen extraordinary volatility since its debut. The stock has more than quadrupled in value this year, driven by investor enthusiasm for its pipeline of dermatology and aesthetics products. The company focuses on turning common skin and hair concerns into proven therapeutic solutions through rigorous clinical development.
With cash reserves strengthened by its upsized IPO, Veradermics is well-funded to complete its ongoing Phase 3 programs and prepare for potential regulatory submissions. The company ended 2025 with significant cash on hand and has been aggressively advancing its clinical timeline.
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Market Reaction and Analyst Views
Wall Street reacted enthusiastically to the news. Several firms reiterated Buy ratings, citing the strong efficacy data and large addressable market for hair loss treatments. Jim Cramer highlighted the stock on his show, calling it a “double or nothing” opportunity in the aesthetics space.
However, some analysts cautioned that the stock’s rapid run-up leaves it vulnerable to pullbacks. Valuation concerns persist, with the company still in the pre-revenue stage and facing competition from established players. Shares remain well below their recent 52-week high but have shown remarkable resilience.
Broader Industry Context
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The positive results come at a time of growing interest in non-hormonal hair loss solutions. Current treatments like finasteride carry potential side effects that deter many patients, creating an opening for new therapies. Veradermics’ approach, if successful, could disrupt the market and offer a convenient oral option for both men and women.
The dermatology and aesthetics sector has seen increased investor attention in recent years, driven by aging populations and rising demand for cosmetic and therapeutic solutions. Veradermics’ progress validates the potential for innovation in this space.
What’s Next for Veradermics
The company will now focus on completing its remaining Phase 3 trials, including studies in female patients. Topline data from additional trials is expected later this year and in 2027. If approved, VDPHL01 could reach the market as early as 2028, representing a major commercial opportunity.
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For investors, Monday’s surge underscores the high-risk, high-reward nature of clinical-stage biotech stocks. While the data appears compelling, full approval and commercial success are still years away and subject to regulatory hurdles.
As Veradermics continues its journey from clinical development to potential commercialization, the company’s progress will be closely watched by patients, physicians and investors alike. The strong Phase 2/3 results mark a pivotal moment that could transform treatment options for pattern hair loss and reward shareholders who bet on the company’s innovative approach.
Blackpool scheme will include 19 shipping containers
Richard Hunt and Local Democracy Reporter
16:00, 27 Apr 2026
How Blackpool’s Southbeach Streetfood project will look(Image: Local Democracy Reporting Service)
New jobs are now on offer as Blackpool’s ambitious Southbeach Streetfood project moves closer.
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The new food destination is located opposite the Sandcastle Waterpark on South Shore promenade and will feature 19 converted shipping containers.
It will include food concessions ranging from Thai and Mexican to Spanish tapas and wood fired pizza.
The site will offer seating for up to 400 diners, and be designed with entertainment space so it can host events and music, with screens to show big sporting occasions.
It was hoped the attraction would be ready to open in June but the physical preparations needed for the groundwork have taken longer than anticipated and now it looks set to launch in July.
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FBS Engineering of Poulton has officially begun transforming the shipping containers that will form the backbone of the development after recently moving into a larger workshop to accommodate the scale of the project.
Jamie Willacy, Director of Southbeach Streetfood UK Limited, said a lot of work had been going on behind the scenes.
He said: “Things are moving forward again. Engineers will start work on the foundations next week, ready for the groundworks to begin, in preparation for the mezzanine floor to be put in place.
“In the background, work has already started on the first six of the 19 containers, cutting out the doors and lining the insides with insulation.
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“There has been a slight delay in the preparation to make sure everything is absolutely correct, so we’re looking at July rather than June now.
“We’ll definitely be up and running in time for the summer holidays.”
The project places a strong emphasis on sustainability and ethical trading with menus designed to reduce food waste and ingredients sourced from local suppliers wherever possible.
Alongside the food offering, visitors can expect live music from local artists, children’s activities, dance showcases, live cookery demonstrations and a curated bar featuring beers, wines and spirits.
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Jamie said: ” We’re also excited to announce new job opportunities for Southbeach Streetfood
“If anyone would love to be part of a fresh new food and hospitality destination on the Prom, now is the perfect time to take a look.
“Whether you’re experienced in customer service, hospitality or just ready for your next opportunity, this could be your chance to join something exciting from the very start.”
To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.
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