Good morning,
The prime minister is hoping today’s State Opening of Parliament will give him an opportunity to reboot the government after last week’s bruising local elections, as the Queen’s Speech ushers in a new legislative agenda.
But while the Levelling Up and Regeneration Bill is expected to take a prime position, other business-related bills have been jettisoned at the eleventh hour. Among those left on the cutting room floor is a bill which would have created a single agency to enforce employee rights and made flexible working the default option for staff. Another omission is a planned audit reform, which the prime minister’s advisors deemed “too boring”(£) to appeal to voters.
The Guardian says the list of expected bills shows a government scrabbling for ideas.
And, for the first time in nearly 60 years, the Queen won’t be in attendance(£). Instead the speech will be read by Prince Charles.
Meanwhile, Morrisons has beaten EG Group in the race to buy McColl’s(£), after agreeing to pay its lenders £160m upfront(£).
Shares in Shaftesbury and Capco fell yesterday amid news that the two West End giants were in talks over a merger. Capco suffered the worst of the losses, with its stock down 6.8% to 154p. Shares in Shaftesbury fell by a more modest 3%, finishing the day at 560p.
They weren’t the only stocks to slump, as global markets suffered their worst day since June 2020(£).
WiredScore has launched its UK Accredited Professional programme, with 100 people already signed up.
Gleeson Homes has named Jennifer Tupman as its new boss for Tyne and Wear.
While Schroders Capital hires two asset management to boost its Manchester and London offices.
And Network Rail will use Ikea-inspire flatpack buildings(£) to replace tired train stations.
As we head to Birmingham for the EG Cities Live podcast, to hear how the UK’s second city is embracing the golden opportunity of the Commonwealth Games…
…The Scottish Property Federation has called for more aggressive use of compulsory purchase powers(£) to seize property from owners who are holding up the recovery of town centres.
And as Lord Sugar tells workers to “get off their lazy backsides – and their Pelotons – and get back to the office”…
…Apple’s head of AI(£) has other ideas. Come back to the office? No thanks, his e-mail auto-replies, I quit.
Perhaps he would rather set up in the latest metaverse to sell digital land to the faithful, Yuga Labs’ Otherside(£). The Bored Ape Yacht Club creator recently sold “land” there for $300m.
And in the US, the co-founder of Black Lives Matter(£) has denied using the movement’s money to build her property portfolio, but has admitted using its $6m Los Angeles mansion for parties.
And finally, there are still bargains to be had in Cornwall, after all. Just when you thought second-home owners had pushed the prices beyond the reach of mere mortals comes the news that Treherne House(£) – a stately home, no less! – is on the market for a mere £600,000. Described by its agent – the delightfully named Lillicrap Chilcott – as “one of Cornwall’s most beautiful minor county seats”, the handsome Grade II listed, Queen Anne-era manor sits amid 5.5 acres and is surrounded by “unspoilt countryside”. There is a snag, though. It might need a bit of work, including some plumbing, wiring, connecting to utilities, new windows, upper floors and a roof. Well, it did burn down in 1946. But still, only £600,000!
