Greene King FY Pretax Profit Declines; Pub Company LFL Sales Up 2.9%

Greene King (GNK.L) said its Pub Company like-for-like sales were ahead of the market for the 52 weeks to 28 April 2019, driven by effective investments in value, service and quality and boosted by the good weather and successful World Cup.

For the 52 weeks ended 28 April 2019, profit before tax declined to 172.8 million pounds from 197.5 million pounds, while earnings per share was 38.7 pence compared to 58.9 pence. Adjusted profit before tax improved to 246.9 million pounds from 243.0 million pounds while adjusted earnings per share was 64.3 pence compared to 62.6 pence.

Fiscal year Group revenue was up 1.8% to 2.22 billion pounds. Pub Company revenue was up 1.8% despite a 2.5% reduction in the average number of pubs. Like for like sales were up 2.9%.

Greene King said, over the first eight weeks of the new fiscal year, trading was impacted by the poor weather and like-for-like sales in Pub Company were below last year’s strong comparatives.

The board has recommended a final dividend of 24.4 pence. This takes the total dividend for the year to 33.2 pence, in line with last year.

Hong Kong protesters rally again to demand freedoms from China

Now in third week, demonstrations morph into wider call for civil liberties timed as G20 summit set to take off.

Hong Kong’s protesters show no signs of flagging after China suspended a proposed extradition law that allows suspects to be brought to the mainland for trial.

They are demanding an unequivocal withdrawal of the bill, an investigation into police violence and the resignation of the territory’s chief executive.

Al Jazeera’s Andrew Thomas reports from Hong Kong.

Federal reserve facing uncertainty ahead of interest rate decision

The Federal Reserve sounded a lot more hawkish this week — meaning, members suddenly seem less amenable to interest rate cuts.

I explained in my last column how the Fed has been getting mixed signals from economic indicators and essentially is stuck at a three-way fork in the road: Raise rates as savers want, cut rates as banks and Wall Street prefer, or simply do nothing.

But there’s one other thing that the Fed is becoming more concerned with — the price of gold, which is booming.

Gold is where people put their money when the world gets too crazy and when it looks like central banks have lost control.

And the Fed doesn’t like a crazy world. That could be why several Fed officials pushed back against the market’s notion that a rate cut is inevitable.

The bigger problem with cutting rates is that lower borrowing costs haven’t been doing much to help the economy over the last decade.

You are going to hear the phrase “pushing on a string” a lot more if the Fed does cut rates and there is little economic impact.

Pushing on a string simply means that the Fed is helpless. And nobody likes to push on a string.

Alexandria Ocasio-Cortez Puts Kellyanne Conway On Notice: ‘You’re Getting A Subpoena!’

Rep. Alexandria Ocasio-Cortez (D-N.Y.) has a message for White House counselor Kellyanne Conway. 

“You’re getting a subpoena!” the freshman lawmaker said to cheers on Stephen Colbert’s “Late Show” on Wednesday night. 

As Ocasio-Cortez pointed out, Conway was a no-show before the House Oversight Committee on Wednesday after the White House claimed she was “immune” from testimony.  

“She went on ‘Fox and Friends,’” an incredulous Ocasio-Cortez said. “It’s like when you call in sick to work and someone finds you at the grocery store or something. It’s like, ‘You’re getting a subpoena!’”  

https://youtube.com/watch?v=zK1bFTfdwUc

The committee had voted earlier in the day to subpoena Conway after the no-show. 

Lawmakers had wanted Conway to testify about repeated violations of the Hatch Act, which limits executive branch officials from engaging in certain political activities. 

Earlier this month, the U.S. Office of Special Counsel said Conway should be fired for those violations.

Ocasio-Cortez also spoke about Wednesday night’s Democratic debate ― and when pressed by Colbert, named the three candidates she thinks stood out the most: 

https://youtube.com/watch?v=71E0RJWDgpQ

Woodstock’s first performer spent decades in this Village pad

Benjamin Scheuer, a playwright, singer and songwriter best known for his off-Broadway show, “The Lion,” is about to list his home at 106 Waverly Place for $3.65 million — or as a $10,000-a-month rental.

The (now) two-bedroom, two-bathroom condo has some musical history: Brooklyn native Richie Havens — the first performer on stage at the 1969’s legendary Woodstock festival — allegedly lived in this third-floor apartment from “the early 1960s until the mid-’80s,” the listing brokers say. Bob Dylan allegedly crashed on the floor here one night.

Scheuer bought the home for $2.5 million in 2015.

The listing brokers are the family team of Sydney, Meris and Kenny Blumstein , of Corcoran.

Crazy socialite Gertrude Lintz kept pet gorillas in this Brooklyn Home

Bay Ridge is for lovers — at least this home at 8514 Narrows Ave. is.

This property, on the market for $2.8 million, comes with a heart-shaped pool.

The house is part of an original property owned in the 1920s by an eccentric socialite, Gertrude Lintz, according to Halstead co-listing broker Peter Grazioli.

Gertrude, together with her then-husband Dr. William Lintz, owned two gorillas, 30 Saint Bernards, 200 rabbits, 300 pigeons, 400 tropical fish, three canaries, a pair of owls and more, according to reports. (Rene Russo played “Trudy,” a character based on her life, in the 1997 movie “Buddy.”)

Gertrude used to drive around Bay Ridge with a 200-pound gorilla in the passenger seat, who would sometimes grab the steering wheel.

The home features formal living and dining rooms, hardwood floors and crown moldings, along with an eat-in kitchen, a family room with a gas fireplace, and a covered patio.

An 1,800-square-foot backyard features the pool, as well as a gazebo and an outdoor shower.

Grazioli shares the listing with Halstead’s Bernadette Mitchell.