Good morning. 2m or not 2m, that is the question.
The communities secretary has been told that he must publish all correspondence(£) relating to the Westferry Printworks planning farrago. Cross party MPs have said that a failure to come clean would lead to “an erosion of trust in the integrity of the planning system and our wider democratic process”.
The PM, meanwhile, under increasing pressure(£) to cut the 2m social distancing guidelines, has told MPs to “watch this space”(£). Yes, Boris. But what sized space?
Landlords have cried foul(£) over Poundstretcher’s CVA plans(£).
And property needs disrupting: Nearly 90% of central London property professionals believe they should be recruiting from outside the industry, but 60% think the sector is not prepared to take that risk.
More than half of British businesses expect to cull staff(£) once the furlough ends…
… But executives at Persimmon have reverted to full pay(£) after just one month of ‘solidarity’ with the troops…
… And nearly half of smaller businesses do not expect to have to pay back emergency Covid loans. The FCA is predicting a mighty bust-up(£) between firms and lenders.
Shares rallied yesterday after the US Federal Reserve(£) announced that it would start buying the bonds of individual companies, and the UK government said it was closer to Covid vaccine trials.
Hammerson was one of the key beneficiaries of a better day for the markets. Its shares rose 9.6% to 122.65p.
US retail sales(£) rose by record levels last month (although volumes are still way below pre-Covid levels)…
… The FT (£) reckons the queues and (socially-distanced) crowds are a good indicator that the UK will fare the same.
A second wave of infection could spell financial ruin for scores of councils.
The government should tap insurers to invest in smaller infrastructure projects(£), says L&G. There’s £150bn just waiting to be put to use.
The City of London Corporation is looking to sell a 150-year leasehold over Fleet House, EC4, for £70m. The 1950s office block comes with planning permission for something new and shiny.
KKR has led a consortium to by a 6% stake in Vietnam’s luxury developer Vinhomes(£) for $650m.
The Reuben brothers-backed Etopia has agreed a partnership with Samsung Electronics to deliver 6,000 sustainable smart homes.
And Cadogan’s Clare Barber shares her love of early mornings and valuing simple pleasures in Lockdown Diaries.
And finally, if the idea of living next to a “gently glowing” bunker(£) makes you fretful, you are not alone. Residents in London’s Holland Park had been assured that the new addition to their quiet lives of luxury would not be the result of nuclear experimentation or alien invasion, but Sophie Hicks’s long-running attempt to create an architecturally interesting new home. The response from the neighbours is best summed up by one 70-year old, who stated simply: “We do not all want to live next door to the creative and interesting.” It will now be up to the High Court to decide whether the plans can be vetoed on grounds of divergent tastes.
