Good morning.
Brace yourself. Thursday will see the start of the second national lockdown(£), which ministers warn could last until next year(£).
Economists(£) have warned that the second lockdown will plunge the UK into a double-dip recession(£), with GDP shrinking by as much as 10% in Q4.
Retail and hospitality is bracing for a “nightmare before Christmas”(£) as all but essential shops are closed.
In other news, Knight Frank’s Alistair Elliott talks resilience, reserves and paying back furlough cash.
Helical celebrated the end of last week with a healthy 8.8% rise, on the back of news that was close to signing a major deal with TikTok.
Caffè Nero is being sued by the Local Authorities’ Mutual Investment Trust over non-payment of rent(£).
Meanwhile, New Look’s CVA is being challenged by landlords(£) including Landsec and British Land.
Mike Ashley has exploded in anger(£) at being ‘frozen out’ of the Debenhams auction.
Nationwide warns that the housing market will not be able to sustain the pace of growth, as prices rise at their fastest annual rate(£) in six years.
The south of England is getting the bulk of housing funds(£), thanks to a Treasury formula that seems geared against ‘levelling up’.
Two of America’s fastest-growing home lenders – Caliber Home Loans and AmeriHome(£) – suspended plans to list their shares last week.
Sadiq Khan and Boris Johnson have struck a £1.8bn rescue deal(£) to keep Transport for London running for another six months.
Prisoners at HMP Leyhill are to be paid the minimum wage to build eco-homes(£).
An investment trust set up to buy into renewable energy and other infrastructure assets is planning a £200m float(£).
The FT (£) looks at the structural problems in the care homes sector…
And asks if vertical farms(£) are the future, or are they just too high-cost and too small-scale?
Congratulations again to all the winners and runners up at this year’s EG Awards – virtually the best party of the year.
And finally, Priti Patel has joined the growing ranks of ministers advocating the ‘Build, Build, Build’ agenda while scuppering development in their own back yard. The home secretary has objected to four developments(£) so far this year. Still, she is in good company. Michael Gove, Ben Wallace and Gavin Williamson have also objected to developments in their constituencies, while backing reforms that would remove local opposition to developments.
