City morning headlines: JD Wetherspoon warns of living wage pressure as John Lewis bounces back
Pub company JD Wetherspoon ihas become the latest company to weigh in on the living wage, while John Lewis reports a better week for sales.
Data-wise we will get an update on the health of Britain's builders.
Here's a look at those stories and what else is making headlines today:
These stories are breaking and may develop throughout the day. Keep checking the Standard's business pages for the latest.
Wetherspoon warning
JD Wetherspoon has outlined the potential impact from George Osborne's National Living Wage on its pub chain.
Tim Martin his chief executive said: "By pushing up the cost of wages by a large factor, the government is inevitably putting financial pressure on pubs, many of which have already closed.
"This financial pressure will be felt most strongly in areas which are less affluent, since the price differential in those areas between pubs and supermarkets is far more important to customers."
The comments come as the company reported a 2% fall in profit before tax to £77.8 million.
John Lewis breaks its bad run
John Lewis bounces back with 11% rise in department store sales in the last week thanks to a damp Bank Holiday and back to school shopping.
At Waitrose sales were up 1.2% as customers sought out comfort food in slow-cook meats.
On the agenda:
At 09:30am July figures on the state of the building industry will be released. Economists think there could be some cheer after the gloom from manufacturers and have pencilled in a 0.5% rise.
At the same time the Bank fo England will publish its latest 'Inflation Attitudes' survey.
Companies news highlights:
Recruiter SThree says its profits will beat expectations thanks to ICT, Life Sciences and engineering contract work.
Struggling door-to-door cosmetics business Avon is valued at $2 billion and looks to sell a stake to private equity with firms Cerberus and Platinum circling.
Uber loses an appeal against a Californian ruling that its drivers are in fact employees, which could send labour costs rising.
APR Energy, which provides mobile generators, completes a withdrawal from Libya.
