Good morning.
The chancellor has vowed to keep construction sites and the housing sector open(£), as pressure mounts on the PM for tougher restrictions.
The Bank of England has warned of a double-dip recession(£), stating that Britain is facing its “darkest hour”.
And the boss of Inland Homes has launched a scathing attack on housing secretary Robert Jenrick. Stephen Wicks said in an open letter that Jenrick’s delay over the Master Brewer scheme was “singlehandedly putting hundreds of jobs at risk without reason”. “You tell us to ‘build, build, build’ yet here you stand in our way,” he writes.
Landsec dropped 1.6% on the FTSE 100 yesterday, after revealing(£) that it had collected just 65% of rents owed for the last quarter(£). Derwent London rose 1.3% after collecting 83% of rents owed.
Vistry has said there is no sign of a slowdown(£) in housing demand, despite the new lockdown and the end of the stamp duty holiday.
Purepay’s(£) rescue deal will save 246 Edinburgh Woollen Mill(£) and Ponden Home stores, but 119 stores will close. Around 50 Bonmarche stores will also be saved.
John Lewis has suspended its click and collect service in response to a “change of tone”(£) from the government.
Canada’s Couche-Tard is in talks for a $50bn tie-up(£) with Carrefour.
The FT (£) looks at Croydon’s property-buying spree and subsequent “de facto bankruptcy” as a cautionary tale for other councils.
New business secretary Kwasi Kwarteng(£) has vowed to prioritise reforming the UK audit market with a shake up of the Big Four.
Citibase is looking to capitalise on the growing appetite for flex-space outside cities with a new 10,000 sq ft site in Halesowen, near Birmingham.
Low interest rates and high yields tempt buyers as retail space floods auction market.
Renewable energy asset manager Foresight(£) has confirmed plans for a £500m stock market listing.
Sir David Barclay has died unexpectedly after a short illness. With his identical twin, Frederick, Barclay amassed a £7bn fortune, investing in property, hotels and newspapers.
The billionaire founder of Las Vegas Sands, Sheldon Adelson(£), has also died, following a long illness. The US casino magnate and Trump supporter is credited with transforming the cities of Las Vegas and Macau into gaming resorts.
Meanwhile, Donald Trump’s property empire faces collapse after his largest creditor, Deutsche Bank(£), said it would have no further dealings with him or his businesses.
Plans to add an extra 23m to the unloved Tour Montparnasse have been cut down to size – by 8m. “It’s a first step,” said one critic.
And finally, are you confused by the lockdown rules? Not sure whether to stay local or travel seven miles for a bike ride? It’s hardly surprising. Apparently the rules have changed at least 64 times since the start of the pandemic. No wonder the PM can’t keep up.
